The U.S. should start a sovereign wealth fund and maybe it should invest in TikTok, President Trump suggested earlier this week. Well, maybe. But if the fund ever does come to life, its money would be arguably better spent on a bigger, more speculative investment: Stargate, the $500 billion OpenAI-SoftBank-Oracle data center expansion that Trump announced last month.Plans for both the sovereign wealth fund and Stargate are hazy and easy... Read more âș
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Andreessen Horowitz has hired Daniel Penny, a former Marine acquitted of choking a homeless man to death on a New York subway, as an investing partner in its American Dynamism fund, the fundâs leader David Ulevitch said in an internal memo on Tuesday. âI believe, as I know many of you do, that ... Read more âș
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Alphabetâs revenue grew 12% year-over-year to $96.5 billion in the fourth quarter of 2024, three percentage points slower than growth in the third quarter, and growth in its rentals of cloud servers slowed by five percentage points compared to the prior quarter. Despite not showing a business ... Read more âș
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Republican Senator Bill Hagerty on Tuesday introduced a bill to create a regulatory framework on stablecoins, representing the first push in Congress to pass a crypto legislation under the new Trump administration. Stablecoinsâcrypto tokens pegged to dollars and backed by U.S. treasuries and ... Read more âș
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Snapâs revenue grew 14% in the last quarter to $1.56 billion, buoyed in part by the growth of its subscription service Snapchat+, which hit 14 million subscribers in 2024. The results triggered Snapâs stock to jump in after-hours trading Tuesday. While the financial report showed bright spots ... Read more âș
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Fintech startup Deel said Tuesday General Catalyst and other investors have bought $300 million in shares owned by early investors. Abu Dhabi-based sovereign wealth fund Mubadala was one of the investors, according to CNBC. The sale valued the startup, which provides payroll and human resources ... Read more âș
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Meta Platforms is merging the teams behind Facebook and Messenger into one unit as the company prepares for layoffs across the business next week. Under the change, the head of Messenger, Loredana Crisan, will move to the companyâs generative artificial intelligence group, while Facebookâs chief ... Read more âș
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The DeepSeek reasoning artificial intelligence, R1, isnât just a gift to businesses eager to cut their AI costs. American cloud providers looking to boost their server rental businesses moved quickly last week to make R1 available to their customers.So far, however, Amazon Web Services, Microsoft and Google arenât charging cloud customers to use DeepSeek, which is open source, the same way they charge for other modelsâbased on how much text... Read more âș
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Music streaming giant Spotify reported its first full year of profitability this morning, after more than six years of losses as a public company. Operating income in the fourth quarter was 477 million, compared with a loss of 75 million a year earlier, on 16% higher revenue. The company ... Read more âș
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Itâs been barely a day since OpenAI released Deep Research, a new ChatGPT feature that helps customers conduct multi-step research. And already itâs gotten at least one rave review.Derya Unutmaz, a professor of immunology at the Jackson Laboratory for Genomic Medicine whoâs been testing the feature since he was granted early access on Friday, said he asked Deep Research to write a report on the latest advancements and gaps in... Read more âș
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The tech industryâs project to build out artificial intelligence is proving even more capital intensive than the peak of the last investment supercycle by oil and gas firms in the mid-2010s. Microsoft, Meta Platforms, Amazon and Alphabet spent an estimated average of 17.2% of their revenues on capital expenditures in 2024, up from 12.7% in 2021, with the figure expected to rise further in 2025. Read more âș
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Chinaâs anti-monopoly regulator said Tuesday that it launched a probe into Google on suspicion of violating the countryâs antitrust laws. The one-sentence statement by Chinaâs State Administration for Market Regulation included no specific details but was published after the U.S. imposed a 10% ... Read more âș
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If youâve planning on buying your significant other a Valentineâs Day gift on Temu, Shein or Amazonâs low-cost rival to those services, Haul, make sure you have a backup plan so you donât wind up in the doghouse. A (perhaps unintended) consequence of a Trump administration executive order issued over the weekend means packages from the e-commerce sites for cheap goods will almost certainly start piling up at American airports.... Read more âș
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Palantir, which sells data analytics software to governments and enterprises, lifted revenue 36% in the fourth quarter, it reported on Monday. For the year, Palantirâs topline expanded 29%. The company projected revenue growth would accelerate to 31% this year. The bullish projection sent ... Read more âș
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President Donald Trump signed an executive order on Monday to create a sovereign wealth fund for the U.S. Trump told reporters in the Oval Office that this new fund could own part of TikTok. âWe might put [TikTok] in the sovereign wealth fund, whatever we make or we do a partnership with ... Read more âș
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SoftBank said on Monday it would spend $3 billion per year on technology from OpenAI for itself and its affiliates, including electronic payment service PayPay and chip designer Arm, of which it is the majority owner. The Japanese telecom conglomerate and OpenAI said they will also ... Read more âș
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Emily Stubbs, TikTokâs global head of litigation since 2020, is leaving, according to two people with knowledge of the matter, in the latest high-level departure amid the video appâs struggle to stay in operation in the U.S. The departure follows TikTokâs loss of a legal battle to block a ... Read more âș
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Elon Musk called for the removal of regulations from the federal government, saying regulations âshould be default goneânot default there,â and that if some of that regulation was necessary, it could be added back. Musk was speaking on an X Spaces conversation late Sunday night, joined by former ... Read more âș
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Stephen Yap, who spent nearly two decades at Google, is departing to join publicly-traded adtech firm Perion as chief revenue officer. Yap most recently served as managing director of Google Marketing Platform, which houses Googleâs technology for advertisers to buy media across the Internet. ... Read more âș
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OpenAIâs release on Friday of o3-mini, its latest artificial intelligence reasoning model, wasnât a surprise. CEO Sam Altman had previously said it would drop by then.But it was impossible to ignore the coincidence of the release coming a few days after a blaze of news erupted over DeepSeek R1, a Chinese reasoning model that has matched or even outperformed models from OpenAI, Anthropic and Meta Platforms. More importantly, DeepSeek is... Read more âș
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10.06.2026 09:57
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