China’s Alibaba on Thursday posted a 75% fall in profits for the June quarter as AI spending weighed on the tech giant’s results. Capital expenditure was up 75% to 67.7 billion Chinese yuan ($10 billion), primarily driven by uneven timing of customer purchases, an increase in CPU-compute capacity and higher prices across a broad range…
Patrick Collison, CEO and co-founder of Stripe, speaking at 2022’s Italian Tech Week in Turin, Italy. Giuliano Berti | Bloomberg | Getty Images Stripe said Wednesday that it plans to acquire the startup OpenRouter, as the fintech company expands into the artificial intelligence model market. Terms of the deal weren’t disclosed, but The New York…
Sarah Friar, CFO of OpenAI, appears on CNBC’s Squawk Box on Aug. 20, 2025. CNBC OpenAI CFO Sarah Friar told employees during an all-hands meeting on Wednesday that the artificial intelligence lab “will be a public company in 2027,” but that it could make its public market debut sooner if “our business continues to inflect.”…
The phone’s artificial intelligence can order groceries, book tables and take photos on a user’s behalf. But is it something people really want? Source link
Nvidia is playing matchmaker, trying to connect companies with its graphics processing units to data-center operators that have the capacity to deploy them in the Nordics, sources have told CNBC. While Nvidia has established an effective monopoly over the most powerful AI chips, it has worked to exert greater influence across the AI ecosystem as…
Marvell Technology shares rallied 6% on a deal that would allow Google to buy up to $12.2 billion in shares of the chipmaking company, according to a securities filing. The deal, part of Google and Marvell’s partnership on custom chips, would allow the tech giant to purchase up to 58,970,907 shares at $206.58 apiece. The…
1. Trash or treasure A television station broadcasts Kevin Warsh, chairman of the US Federal Reserve, speaking after a Federal Open Market Committee (FOMC) meeting as a trader works on the floor of the New York Stock Exchange (NYSE) in New York, US, on Wednesday, July 29, 2026. Michael Nagle | Bloomberg | Getty Images…
Christine Lagarde, president of the European Central Bank (ECB), during a rates decision news conference in Frankfurt, Germany, on Thursday, June 11, 2026. Alex Kraus | Bloomberg | Getty Images Europe is facing an erosion of the conditions that historically drove the continent’s growth, its top central banker warned Wednesday, as she called on leaders…
Nvidia’s effective monopoly over the most powerful chips has made U.S. export controls a key tool in Washington’s effort to preserve its advantage over China in the AI race. But despite U.S. restrictions on exporting the company’s most advanced semiconductors, including GB300s, several Chinese firms have reportedly been able to access the chips’ compute power…
Amazon said Wednesday it plans to offer drone deliveries in nearly 500 U.S. cities and towns by the end of the year, a sign of momentum for a project that’s been slow to develop since founder Jeff Bezos first laid out his vision for the service almost 13 years ago. The planned expansion for Prime…