AI
OpenAI hits a $1.25 trillion valuation after raising $11 billion, while rival Anthropic moves toward an IPO despite cooling AI spending.
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No phones and 8 stories for “AI spending”
AI
OpenAI hits a $1.25 trillion valuation after raising $11 billion, while rival Anthropic moves toward an IPO despite cooling AI spending.
AI
Apple reportedly cut its engineering teams' daily AI spending cap from $300 to $200 in October, with some allowances heading to $100 a day and non-engineering limits possibly as low as $25.
AI
OpenAI has reportedly cut its new funding target to $20 billion, down from earlier plans of $30 billion, after a lukewarm response from big investors.
AI
S&P Global Ratings lowered Meta's outlook from stable to negative, flagging uncertainty over its AI spending and first-ever negative free cash flow. Meta disagrees and says its credit profile remains strong.
AI
Big Tech plans over $740 billion in AI infrastructure spending this year, but negative free cash flow, record debt and a sharp market selloff are testing investor patience.
Tech
Intel closed down 28.58% on Friday, its worst day since the 1970s, after weak guidance blamed on a plant shutdown in Israel and a softening PC market. The drop wiped about $12 billion off the US government's stake, with Reddit, Amazon and Alphabet also selling off.