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Wall Street’s sell-off of enterprise software stocks resumed in earnest late last week, sending stocks such as ServiceNow and Snowflake down around 8% or so on Friday, as jitters over the impact of new AI tools on older software firms intensified. But the panic may be too indiscriminate.
One way of sorting out which software firms may have more of a future is to look at their spending on research and development as a percentage of revenue, a sign of how deeply they’re investing in new products. On that met
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SpaceX’s AI lab has had a chaotic year so far, churning through leaders and staff before bringing in outside help in an effort to catch up to Anthropic in coding. What isn’t widely known, however, is that xAI has played a long-running cat-and-mouse game with Anthropic as it has sought to tap into that lab’s technology to develop its own offerings—even after Anthropic cut off access, six people involved with... Read more ›
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LinkedIn cofounder and investor Reid Hoffman will leave his seat on Microsoft’s board of directors at the end of this year, Microsoft said in a filing Friday. Hoffman has served as a Microsoft director since 2017, when Microsoft acquired LinkedIn. Since then he’s been a pivotal advisor to CEO ... Read more ›
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Tesla is pushing a planned public demo for its long-awaited next generation Roadster to August or later, four people with knowledge of the program said, marking the latest delay for the unveiling of the company’s first vehicle debut since its Cybercab nearly two years ago. Tesla CEO Elon Musk ... Read more ›
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Trust is a requirement for the success of AI, an operating condition that enables speed, scale and autonomy. When implementing AI technology, enterprises need to move at the speed of trust. Go faster, and unforeseen risks proliferate; go slower, and you fall behind your competitors. Most executives are aware that trust is key to the success of AI, but less than half of companies can effectively support trustworthy AI, reveals... Read more ›
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Over the last few months, SpaceX’s chief financial officer, Bret Johnsen, has been trying to pull off an intense two-part challenge: Fold xAI into SpaceX—the biggest merger ever—and then take the combined company public at $75 billion in the largest IPO ever. Johnsen, 57, has gotten it done by keeping his customary cool. Inside SpaceX, colleagues say he’s less prone to getting worked up than other executives like CEO Elon... Read more ›
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Google has agreed to pay $920 million a month to purchase compute capacity from SpaceX, SpaceX said in a filing. The deal will run from October 2026 through June 2029, and Google will be able to access approximately 110,000 Nvidia GPUs, CPUs and related components, according to the filing. ... Read more ›
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Big banks including JPMorgan, Bank of America, and Citi are planning to participate in a new settlement network to be launched next year, which will allow banks to move money on the blockchain between each other. The network, to be launched by The Clearing House, which is owned by a bank ... Read more ›
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Semiconductor stocks sold off on Friday after going on a historic tear over the last several weeks, partly in response to May’s excellent jobs report that fueled speculation about an interest rate hike. Chip maker Marvell fell 17% while memory maker Micron and chip design firm Arm each fell 13%. ... Read more ›
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Speaking with reporters on Friday, President Donald Trump said that he plans to meet with AI companies in the near future to discuss financial “partnerships,” though he did not share further details on what the deals would look like. The remarks come after a Thursday report from NOTUS that ... Read more ›
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SpaceX’s offices in Texas and California may host the most raucous celebrations when the company’s shares start trading this coming Friday—but an extensive network of companies founded by SpaceX alums will also be popping bottles of bubbly. Read more ›
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12.06.2026 01:39
Last update: 01:15 EDT.
News rating updated: 08:31.
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