Massive investments by tech giants into AI data centers are driving U.S. economic growth, with spending on AI infrastructure surpassing consumer spending and nearing 2% of GDP, diverting capital from other sectors like venture capital and manufacturing.
OpenAI projects a staggering $115 billion cash burn by 2029, $80 billion higher than earlier estimates, as soaring costs drive the AI giant to develop its own chips and data centers to power its cutting-edge technology.
Meta's $14.3 billion AI investment faces hurdles as its partnership with Scale AI strains, prompting Meta to work with Scale's rivals for data labeling while struggling to retain top AI talent and navigate bureaucracy after poaching researchers from OpenAI and Scale.
AI companies are forging global data alliances to train models, sparking privacy concerns as Perplexity bids a staggering $34.5 billion to acquire Google's Chrome browser, escalating the AI supremacy battle.
Databricks, a data and AI company, secures a staggering $100 billion valuation in its latest funding round, accelerating its AI strategy with Agent Bricks expansion, Lakebase investment, and global growth fueled by investor interest in its AI products powering businesses.
Databricks, the data analytics platform, secures over $1 billion in a mega funding round, valuing the company at a staggering $100 billion, becoming the 4th private company to exceed a $100 billion valuation, as investors show strong interest following Figma's successful IPO.
OpenAI CEO Sam Altman acknowledges the AI market is in a bubble reminiscent of the 1990s dot-com boom, even as his unprofitable company seeks $6 billion at a staggering $500 billion valuation amid expert warnings that AI overvaluation now exceeds the internet bubble.
Major tech firms pour billions into AI development, igniting a fierce arms race that exacerbates skilled labor shortages and surging emissions, undermining net zero commitments amidst the AI frenzy.
SoftBank Group soars with a remarkable $2.87 billion profit in the first quarter, fueled by substantial gains from its Vision Fund investments, while its Stargate data center project faces a slight delay and it raises $7.8 billion from offloading T-Mobile shares.
Apple faces setbacks in AI race as around a dozen key AI talents, including Ruoming Pang, head of Apple's Foundational Models team, depart for rivals like Meta and OpenAI, hindering efforts to integrate large language models and update Siri, which lags behind competitors.