OpenAI has finally put a date on its stock market debut. The company “will be a public company in 2027,” or sooner if its business keeps growing fast, chief financial officer Sarah Friar told staff at an all-hands meeting. CNBC reported the comments, c…
An investment firm is lending about $1.3bn to help build a giant AI data centre in Texas that will house Anthropic. It is one of the latest jumbo deals fuelling the AI boom. Eagle Point Credit Management is providing the loan, Bloomberg reported. The l…
Revolut has asked its shareholders to let Nik Storonsky borrow up to $250mn against his stake in the company, five times what the current rules permit. The request went to investors last week as part of a governance exercise the fintech has codenamed P…
Nebius Group said on Wednesday that it plans to raise $4.5 billion by selling convertible bonds. It will use the money to build data centres for artificial intelligence. The Amsterdam-based company set out the plan in a statement. The offering comes in…
OpenAI grew more slowly than Anthropic last quarter, and for the first time its rival’s sales came in higher. OpenAI told investors its revenue rose 18 percent from the first quarter to the second, to $6.7bn, The Wall Street Journal reported. Its losse…
Anthropic is preparing to give its founders shares with extra voting power before it goes public, according to The Information. The company is setting up the structure ahead of an initial public offering that could rank among the largest ever, Cory Wei…
Baidu revenue fell for a fifth straight quarter. The advertising business kept shrinking faster than the AI business could grow. The Chinese search company reported its results on Tuesday, with second-quarter revenue of RMB31.3bn ($4.62bn). That is dow…
Most voice agent pricing starts with a single number: voice agent cost per minute. However, this figure doesn’t reveal much about the real cost of running a production system. I discovered this firsthand while building and running a voice agent for ent…
Situational Awareness lost roughly $30bn in July. The desk reported that three weeks ago. What happened inside those six days has not. Gregory Zuckerman, Juliet Chung and Peter Rudegeair have reconstructed it for the Wall Street Journal, and the sequen…
Nvidia announced $500bn of AI infrastructure financing last week, alongside Apollo, BlackRock, Blackstone, Brookfield, Goldman Sachs and KKR. A fortnight earlier, the Securities and Exchange Commission staff answered a question. It concerned how deals …