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Wall Street and Silicon Valley are betting that generative AI will kick off an Industrial Revolution-sized paradigm shift. And who do business leaders call when they need to make a change? Loading audio narration… Consultants.Anthropic is teaming up with some of Wall Street’s biggest investors for a $1.5 billion joint…
Big Tech’s AI spending is surging, though not necessarily because companies are building significantly more capacity. Loading audio narration… This week, industry executives pointed to the same underlying issue: sharply rising component costs, especially for memory chips, are inflating capital expenditures spent on data centers and other equipment.”We are increasing…
As far as data centers go, it’s a big one. Loading audio narration… The Saline Township campus in Michigan, about 50 miles outside of Detroit, will have a capacity of more than 1 gigawatt. That’s huge. Most data centers have capacities between 100 and 300 megawatts.And now the developer behind…
As several Wall Street banks reported first-quarter earnings on Tuesday, executives had to answer for their exposure to the private credit market, which has been under a microscope recently. Loading audio narration… CFO Jeremy Barnum estimated the bank’s exposure to private credit funds was $50 billion.”We’re broadly comfortable with it,”…
Walk into a grocery store or scroll TikTok, and it’s increasingly hard to find a beverage that’s just a beverage. Instead, cans and powders promise everything from better sleep to sharper thinking to improved digestion, often all at once. Loading audio narration… The global functional beverage market was worth about…
The US Navy is investing $900 million in automated factories to build parts for its top nuclear submarines. Loading audio narration… The sea service and congressional analysts have said that the submarine industrial base needs thousands of additional workers to meet its production goals, with shortages across shipyards and suppliers…
CoreWeave pivoted from a crypto-mining firm to a $43 billion AI company. Its CEO says being “nerdy” helped the transformation. Loading audio narration… Michael Intrator, the company’s cofounder and CEO, said CoreWeave’s early days in crypto gave it an edge in understanding how to use GPUs, the chips now powering…
Ukrainian President Volodymyr Zelenskyy said on Sunday that Russia had earned $10 billion in two weeks of the US-Israeli war with Iran.That’s about 10% of what Moscow has lost in the oil trade so far this year, he said in a post on X.Zelenskyy wrote that Ukrainian intelligence reports indicated…
Honda is taking a massive financial hit as it pulls back on its electric-vehicle ambitions.On Thursday, the Japanese automaker said it expects to write off up to 2.5 trillion yen — roughly $15.7 billion — as it reshapes its North American EV strategy. Honda expects the charge will push profits…
Harvey’s CEO Winston Weinberg thinks the $1 trillion legal market is too big and too fragmented for any one software company to sweep it. So the $8 billion legal-tech startup is trying a different play: bankroll whatever comes next. Loading audio narration… Harvey said Wednesday that it will begin investing…
