Data center developer Switch is in talks to raise billions of dollars at a valuation of at least $50 billion, as it seeks to capitalize on soaring demand for the infrastructure needed to support artificial intelligence, according to people with knowledge of the deal. Brookfield Asset Management, KKR and other private equity and institutional investors have been in talks to invest in the round, people familiar with the matter said.... Read more âș
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Senior U.S. officials have held preliminary discussions with major artificial intelligence companies about the federal government possibly acquiring shares in their firms, the publication Notus reported, citing people familiar with the matter. The preliminary discussions have centered on having ... Read more âș
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Elon Musk and Sam Altman donât often see eye to eye, as they made clear in their recent legal dispute. But when it comes to making outlandish projections about future growth, the two men seem to share a common philosophy.As we reported earlier on Thursday, SpaceXâs lead bank on its upcoming IPO, Goldman Sachs, has told investors it expects SpaceXâs revenue to hit $474 billion by 2030, from $18.7 billion... Read more âș
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For most of this decade, venture capital has morphed from a game of spotting the best young startups to making a more complex range of investmentsâfrom public stocks and cryptocurrencies to multibillion-dollar bets on older startups. General Catalyst even bought a hospital system!But industry stalwart Benchmark had held fast to a definition of VC that was more common when the firm was founded two decades ago. As Thrive, Andreessen Horowitz... Read more âș
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S&P Dow Jones Indices said Thursday it had decided against a proposed rule change that would have made it easier and faster for SpaceX to quickly join the S&P 500 and other indices after it goes public. The groupâs index committee had been considering a series of changes that would have ... Read more âș
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Airbnb chief executive Brian Chesky is in early stage talks to fund a new AI lab, according to a person with knowledge of the discussions. The lab will aim to develop models with a possible design focus, according to a Bloomberg report. In recent months, Airbnb has made strides to become a more ... Read more âș
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Cybersecurity and data recovery firm Rubrik reported 39% higher revenue of $387 million for the April quarter, far exceeding what Rubrik had projected for the quarter. Rubrik, which in February released a new software tool to help companies manage intelligence agents, also upped its revenue ... Read more âș
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Microsoft CEO Satya Nadella on Thursday rebuked an internal memo that another company executive had written advocating to âmake people addictedâ to its new AI agent product called Scout. âThis is absolutely a non goal! If anything we are doing the exact opposite. We want to make sure AI empowers ... Read more âș
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Cybersecurity stocks CrowdStrike and Palo Alto Networks have risen 50% or more this year based on the perception that an AI-driven increase in cyberthreats will make their services all the more important. Yet Rubrik, which also stands to benefit from that trend, is up only 1% so far this year. That lag likely results from investorsâ narrow view of what constitutes a cybersecurity firm, and partly because its AI business... Read more âș
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SpaceX, planning the largest initial public offering of all time next week, will already need to raise more cash by next year if private forecasts from analysts at Goldman Sachs come to fruition. SpaceXâs lead bank on the IPO, in aggressive forecasts shared with prospective investors this week, expects the company to burn $120 billion this year and next year combined, and another $230 billion through 2030, as it significantly... Read more âș
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Tech firms ranging from Block to Meta Platforms have announced mass layoffs in the past year, frequently citing AI as allowing them to do more with less people. In a variation on that approach Snowflake says it used layoffs to force software engineers to use AI tools and become more productive.âAt the time, my team hated me, but I thought it was a provocative wayâ to get them to use... Read more âș
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Two members of Congress released a sweeping discussion draft for an AI regulatory framework on Thursday, proposing a bipartisan federal approach ahead of Novemberâs midterm elections. Led by Reps. Jay Obernolte (R-Calif.) and Lori Trahan (D-Mass.), the bill represents the latest Congressional ... Read more âș
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Pinterest said it would spend $4 billion on Amazon Web Services infrastructure through 2031, the largest infrastructure commitment in the companyâs history. As part of the deal, Pinterest will use AWSâ Trainium chips for AI workloads and expand its use of Amazonâs CPU Graviton. Pinterest has ... Read more âș
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The billionaire co-founder of Databricks and Perplexity AI, Andy Konwinski, is singularly focused on plugging the years-long drain of talent from academia to Big Tech.He wants to encourage academics to focus on publishing more openly available research, a reaction to the move by frontier AI companies to reduce the amount of AI research they publish as they race against one another to develop the best models and AI tools. While... Read more âș
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Helion Energy, a nuclear fusion startup backed by OpenAIâs Sam Altman, still has to prove it can produce electricity to serve data centers and other customers. But investors seem confident it can deliver. The Everett, Wash.âbased company said it has raised $465 million in a funding round led by Thrive Capital, the investment firm founded by Josh Kushner, a big backer of OpenAI. Helionâs valuation after the investment was $15.5... Read more âș
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Meta Platforms is considering charging up to $200 a month for its planned consumer version of the OpenClaw AI agent tool, The Information reported, an ambitious target that would rival top tier offerings from established AI giants. The product, currently called Hatch, could launch with ... Read more âș
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Benchmark has raised two new funds, one of which will invest in later-stage startups, breaking with the firmâs tradition of exclusively backing early-stage companies. The firm will invest in those more mature companies through a $1.25 billion fund and earlier ones through a $750 million fund, ... Read more âș
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It's no secret that criminals are using AI to streamline computer hacks in hopes of emptying out peopleâs bank accounts (never has it looked more appealing to stash cash under the mattress!). Cybersecurity executives, meanwhile, are rubbing their hands with glee at the influx of business they expect to get as a result. âWhat I see is AI driving structural demand for cybersecurity that compounds, not decelerates,â said CrowdStrike CEO... Read more âș
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SpaceX plans to sell 555.6 million shares at an expected price of $135 each when it goes public, the company said in a securities filing on Wednesday. SpaceX is expecting to raise $75 billion, more than twice as much as any other IPO in history, at a valuation of $1.77 trillion. Setting an exact ... Read more âș
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Apple is currently on track to launch its overhauled Siri in September, to run in part on Googleâs cloud computing servers using Nvidia chips, according to people familiar with the matter. While Apple will try to run as much as possible of the new Siri on devices such as iPhones, certain parts ... Read more âș
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27.07.2026 20:28
Last update: 20:20 EDT.
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