Bubble? What bubble? Nvidia CEO Jensen Huang dismissed fretful talk about massive AI investment on Wednesday, extolling the benefits of AI for a wide variety of companies—from startups to big firms like Meta Platforms. Of course, the biggest beneficiary of the AI transformation is Nvidia itself, whose stranglehold on the AI chip market is turning it into a tech version of the U.S. Mint. On Wednesday, Nvidia reported 62% higher... Read more ›
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Luma AI, which develops artificial intelligence models that generate realistic videos, raised $900 million from investors led by new investor Humain, the AI company owned by Saudi Arabia’s Public Investment Fund, the startup said Wednesday. The new funding values the company at $4 billion, ... Read more ›
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The White House is working on an executive order that will direct the Justice Department to sue states that pass their own laws regulating artificial intelligence, according to a draft of the order reviewed by The Information. The order, which is still in the drafting phase, could change. The timeline for when it will be formally announced is also unclear. The move is part of a long-standing effort this year... Read more ›
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Nvidia’s revenue from selling AI chips rose 62% to $57 billion in the three months ended October compared to the same period a year earlier. Remarkably, its sales growth accelerated 8 percentage points compared to the July quarter, and Nvidia has projected even faster growth—65.4%—in the current ... Read more ›
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Yann LeCun, the artificial intelligence pioneer and Meta Platform’s chief AI scientist, plans to leave the company at the end of the year to form his own AI startup, according to a person with direct knowledge of his plans. A Meta spokesperson confirmed LeCun’s departure and said the company plans to partner with LeCun’s startup. This story is developing Read more ›
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XAI, the artificial intelligence startup run by Elon Musk, has told shareholders that it’s planning to raise money at a $230 billion valuation, according to two people who were notified of the terms. It intends to raise $15 billion, according to one of the people. A spokesperson for the ... Read more ›
2
Coinbase is preparing to launch a prediction market to allow its crypto clients to bet on events such as elections and sports, according to two people familiar with the matter. The market will be powered by prediction market company Kalshi and will put Coinbase in a booming but increasingly crowded field. Coinbase, the largest U.S. crypto exchange, is set to share details about its prediction market and other products at... Read more ›
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Crypto exchange Kraken said on Wednesday it has confidentially filed for an initial public offering in the U.S., moving ahead with its plan to list despite a recent-sell of crypto-related stocks. The filing comes a day after it raised $200 million from Ken Griffin’s Citadel Securities at a $20 ... Read more ›
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OpenAI and Target announced plans to make the retail giant’s app available through ChatGPT’s new app feature on Wednesday, marking the latest tie-up between the AI startup and a large retailer as OpenAI looks to help users with more shopping-related tasks. The Target partnership differs from ... Read more ›
2
Elon Musk’s xAI and the Saudi government-owned company Humain are jointly developing a data center in Saudi Arabia, the companies said on Wednesday. The data center will use more than 500 megawatts in electricity, the companies said, though they did not say when the facility will be ... Read more ›
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When OpenAI announced that it had completed its corporate restructuring last month, it became less likely that Elon Musk’s federal lawsuit against the company would foil OpenAI’s plans. Musk hasn’t given up, but even if he wins the case, he is unlikely to inflict any meaningful damage on OpenAI. There’s a decent chance that the case will go to trial in March. If Musk wins some of his claims, a... Read more ›
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Brookfield, one of the largest infrastructure investors, said it would acquire up to $100 billion in energy, land, data center and computing assets used to power artificial intelligence. Kuwait’s $1 trillion sovereign wealth fund and Nvidia will invest in a new Brookfield Artificial Intelligence ... Read more ›
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I’m the senior finance editor here at The Information. I’ll be writing this new column on money, dealmaking and bubbles of all sorts every Wednesday. If you have any feedback or suggestions on topics I should explore, feel free to reply directly with your feedback.We’re launching this newsletter to cover the increasing role finance is playing in tech. The development of AI will demand $5 trillion or more in funding,... Read more ›
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Before we get to Gemini 3, we want to highlight this morning’s news that former Harvard University President Larry Summers has resigned from OpenAI’s board of directors following a congressional committee’s release of emails showing a personal correspondence between him and convicted sex offender Jeffrey Epstein. Summers had been on the board of the ChatGPT-maker for two years. His departure follows his decision to step back from public commitments in... Read more ›
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Former Harvard University President Larry Summers has resigned from OpenAI’s board of directors following a congressional committee’s release of emails showing a personal correspondence between him and convicted sex offender Jeffrey Epstein that continued until shortly before Epstein’s arrest in ... Read more ›
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Adobe agreed to acquire Semrush, a digital marketing software provider, for $1.9 billion as the design giant pivots to artificial intelligence. Adobe will pay $12 a share in all cash for Semursh, which had a market capitalization of over $1 billion as of Tuesday. The deal with Semrush, ... Read more ›
0
When Advanced Micro Devices holds offsite meetings with senior leaders, its executives often find themselves sitting at the poker table at the end of the night with one particularly skillful player of card games: Lisa Su, the chipmaker’s CEO. Her aptitude for poker mirrors how she analyzes risk and reward for the decisions she makes at AMD, according to two executives who have worked with her. At the moment, Su... Read more ›
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For once, the latest multibillion-dollar AI deal—this time Microsoft and Nvidia investing in Anthropic—isn’t the day’s biggest tech news development. (Skip down for details on that story.) More important was a Washington judge’s ruling on Tuesday that Meta Platforms isn’t a monopoly. So much for all those breathless headlines suggesting Meta might get broken up! The ruling was good news for CEO Mark Zuckerberg, even interrupting a big sell-off in... Read more ›
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Sometimes being a centicorn isn’t enough…especially when you’re worried the AI bubble could burst. Shortly after Databricks said in September it had raised more than $1 billion at a valuation of more than $100 billion, leaders at the database software provider told investors they were likely to raise even more soon, our sources tell us.As we reported late Monday, the 12-year-old company has started to discuss raising more money at... Read more ›
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Google on Tuesday released Gemini 3.0, the long-awaited update to its flagship AI model. The new model has improved on its predecessor, Gemini 2.5, on all major AI benchmarks, including reasoning and solving problems involving mediums other than text. It is a significant improvement to its ... Read more ›
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8% 2 |
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13.12.2025 01:21
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