The astounding financial demands of artificial intelligence have forced the tech industry to embrace a new source of funding: lenders that can quickly write multi-billion dollar checks. These banks and investors range from giants like JPMorgan Chase and Blackstone to lesser known lenders such as Sumitomo Mitsui Banking Corp. and Macquarie. They are tapping a wider range of funding sources to gather vast amounts of cash and getting creative with... Read more ›
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A wave of automakers has cancelled plans to produce electric vehicles in the U.S., responding to slow sales of the cars. But Volvo Cars, an automaker owned by China’s Geely Group, is boosting its EV manufacturing plans at its South Carolina plant, a move that could be a model for other Chinese automakers amid a potential thaw in U.S.-China relations. Next year, Volvo will begin producing its midsize plug-in XC60... Read more ›
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Nvidia has committed to investing the first $10 billion of a planned $100 billion investment in OpenAI at the startup’s recent $500 billion valuation and then will make the remaining staggered investments at future valuations, according to a person with direct knowledge of the plans. The chip ... Read more ›
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Humanoid robotics startup 1X has told investors and employees it is trying to raise as much as $1 billion, according to three people who spoke to CEO Bernt Øivind. The decade-old company is aiming for a valuation of at least $10 billion, Børnich said, or more than 12 times its previous valuation from a January financing, according to one of the people. The move comes as large firms such as... Read more ›
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OpenAI loves to make grand announcements. Earlier this year we had the hoopla about its Stargate data center venture, worth up to $500 billion. Today the ChatGPT creator announced a letter of intent to form a strategic partnership with Nvidia to “build and deploy” artificial intelligence data centers holding “millions” of Nvidia’s AI chips. To help pay for this, Nvidia will invest up to $100 billion in OpenAI. Nvidia must... Read more ›
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A raft of venture-backed startups are emerging to offer high-tech consultants for businesses needing help with artificial intelligence, posing competition for companies like Palantir and McKinsey & Co. that specialize in high-priced consulting services. One is Distyl AI. The three-year-old startup provides companies like T-Mobile with what’s known as forward-deployed engineers and AI software that automates business processes such as analyzing customer data or managing HR functions. Founded by former... Read more ›
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Coinbase CEO Brian Armstrong said he wants to develop a super app for customers that would provide an array of financial services such as cards and payments beyond crypto trading. “Ultimately we want to be a bank replacement for people,” Armstrong told Fox Business last Friday. “We want to be ... Read more ›
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The second phase of Google’s second antitrust case—this one around its ad tech operations—opened in a Virginia courthouse on Monday. In April, a district judge found Google monopolized the market for technology that helps websites sell ads, and the trial that is on this week will help decide how ... Read more ›
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Nvidia and OpenAI said Monday they had signed a strategic partnership in which the chip designer will invest up to $100 billion over time in the ChatGPT maker as it increasingly buys access to Nvidia’s artificial intelligence chips. The unprecedented agreement, while devoid of details, answers a ... Read more ›
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A Federal Trade Commission lawsuit against Amazon’s alleged use of deceptive practices to lock consumers into its Prime subscription goes to trial this week in a Seattle court. In the lawsuit, which the FTC filed in 2023, the commission alleges that Amazon violated consumer protection laws by ... Read more ›
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As Western artificial intelligence developers accelerate international expansion, Japan, the world’s fourth-largest economy, is shaping up to be a key battleground. ChatGPT and Gemini are already popular there. Anthropic is preparing to open a Tokyo office after appointing a Japan country head last month. Canada-based Cohere also hired a Japan country manager last month.But Japan’s government and domestic AI companies are ramping up their efforts too. Last week, a government-funded... Read more ›
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Crypto stormed into the traditional financial system over the past four months, wedging itself deeper than ever into banking and the stock market. The head-spinning changes created billions in profits for the industry and added more risks for investors and regulators. The changes came so fast that they were hard to keep straight. We’ve rolled back the clock to help readers catch up on the four big trends that drove... Read more ›
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Oracle CEO Safra Catz is stepping aside, to be replaced by a pair of co-CEOs, including the chief of its cloud business, Clayton Magouyrk. His promotion confirms how cloud has become Oracle’s most important business. Also serving as CEO will be Michael Sicilia, who has held various roles in ... Read more ›
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President Donald Trump is expected to sign an executive order this week outlining the structure of a proposed deal for a group of investors to take over TikTok’s U.S. operations, according to a White House official. Under the plan, a new joint-venture company will be created to run TikTok U.S., ... Read more ›
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President Donald Trump said Sunday that media executives Rupert and Lachlan Murdoch are likely to be part of a group of investors planning to take over TikTok’s U.S. operations. In an interview on Fox News, Trump said billionaires Larry Ellison and Michael Dell are part of the consortium of ... Read more ›
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Some of the tech industry’s largest employers warned foreign staffers to stay in the U.S. or return immediately after President Donald Trump announced a plan Friday to impose a $100,000 fee on H-1B worker visas. But in a sign of the chaotic roll-out of the policy, the White House on Saturday ... Read more ›
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A new company overseeing TikTok’s U.S. operations will be majority-owned by U.S. investors, with six of seven board seats going to Americans, White House Press Secretary Karoline Leavitt said in an interview on Fox News Saturday. The comments come after President Donald Trump said Friday that ... Read more ›
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Welcome, Weekenders! In this newsletter:• The Big Read: Musk’s Memphis supercomputer fixer • The Arena: The highlightification of sports. • The Top 5: Tech elites turn to luxury matchmakers to find love.• Plus, our Recommendations: “Home Cooking,” “The World’s Worst Best” and “Three Days of the Condor.” It definitely wasn’t the opening question Carlos Alcaraz was expecting.As I sat four feet from the world no. 1 tennis player—and full disclosure,... Read more ›
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Late last week, NBA Commissioner Adam Silver inadvertently went viral on social media with a passing comment that quickly got under the skin of basketball fans. When asked during a press conference about how expensive being an NBA fan has become—mainly due to fragmented TV broadcasts and streaming price hikes—part of Silver’s response was that there are many free ways to watch, including via Instagram and TikTok. “This is very... Read more ›
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There’s a big public breakup underway: People are dumping their dating apps. Over the past year, Bumble lost nearly 9% of its paying users, the company reported in its earnings report last month. Match Group, meanwhile, saw about 5% of paying users abandon its flagship apps, including Tinder and Bumble, during the same period. “The companies haven’t innovated to keep products up to date with what current users are looking... Read more ›
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10.05.2026 03:15
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