BusinessAlibaba's core profit plunges as investments in AI and quick commerce biteAlibaba Group's adjusted EBITA for the quarter ended in March fell to 5.1 billion yuan (about $750 million), an 84% decline year-on-year, after heavy spending on AI chips, data centres and its Qwen language models.2 min read
BusinessAnthropic in talks for at least $30 billion funding round that could push valuation past $900 billionAnthropic is negotiating with investors for a financing round of at least $30 billion that, if completed, could lift the AI developer’s valuation above $900 billion, Bloomberg reports.2 min read
BusinessOrbital AI Compute Moves from Concept to Market BetGoogle is advancing Project Suncatcher, in talks with SpaceX and other launch providers to deploy solar-powered satellites equipped with TPUs, with a first prototype planned with Planet Labs around 2027.2 min read
BusinessSiemens launches up to €6bn share buyback as software and AI businesses gain momentumSiemens announced a share buyback program of up to €6 billion and raised profit guidance for several divisions after an 11% increase in second-quarter order backlog, driven largely by software and smart infrastructure demand.3 min read
BusinessAltman testifies Musk sought full control of OpenAI, proposed heirs inherit control after deathSam Altman told a California court that Elon Musk repeatedly demanded control of OpenAI from its founding until his 2018 departure, even pressing for a 90% stake and suggesting the company be run by his children if he died.2 min read
BusinessOpenAI launches deployment arm to embed engineers inside enterprisesOpenAI has created OpenAI Deployment Company with over $4 billion in initial capital, majority control, 19 partners and the acquisition of Tomoro, aiming to place engineers directly inside customer organizations to redesign workflows around AI.2 min read
BusinessAnthropic moves to block unauthorized secondary trading ahead of its IPOAnthropic has announced it will void certain unapproved secondary transfers and synthetic instruments that create exposure to its shares ahead of its initial public offering.2 min read
BusinessVanguard aims to double European assets and target UK retail market leadershipVanguard plans to double its European assets under management from about $535 billion to roughly $1 trillion within five years, as part of a broader strategy to lift its international AUM to $2 trillion.2 min read
BusinessOpenAI launches majority-owned company for enterprise AI deploymentsOpenAI announced the creation of the OpenAI Deployment Company, which is majority-owned and controlled by OpenAI; 19 leading investment firms, consultancies and system integrators are part of the consortium.1 min read
BusinessOpenAI Deployment Company acquires the Tomoro teamOpenAI Deployment Company has agreed to acquire Tomoro; the transaction immediately transfers 150 experienced Forward Deployed Engineers and Deployment Specialists.1 min read
BusinessNVIDIA, AMD and Intel Jointly Back RadixArk’s Hardware-Neutral Inference LayerNVIDIA, AMD and Intel participated in a $100 million seed round valuing RadixArk at $400 million.2 min read
BusinessOpenAI Employees Realize Hundreds of Millions in Secondary Share SalesLast October, more than 600 current and former OpenAI workers sold shares in a single secondary transaction totaling about $6.6 billion, with roughly 75 employees reaching the $30 million per-person cap.5 min read