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Alphabet launches €68bn fundraising drive to accelerate AI expansion
Google's parent company Alphabet is raising $80 billion (€68.7bn) through a series of share offerings, marking one of the largest equity fundraising efforts in corporate history as competition in AI development intensifies. Alphabet, Google's parent company, has unveiled plans to secure up to $80 billion (€68.7bn) in fresh capital to support its growing AI ambitions, underlining the enormous financial commitments now required in the new technological race. The company stated on Monday that...
Meta weighs big equity raising to finance AI infrastructure, FT reports
Meta weighs big equity raising to finance AI infrastructure, FT reports June 5 : Meta is considering raising tens of billions of dollars in a stock offering as it seeks new sources of capital to fund the company's AI ambitions, the Financial Times reported on Friday. The report comes after Alphabet moved to raise $84.75 billion in upsized equity offerings, as Big Tech competes to build data centers and capitalize on growing demand for AI. Meta executives have been exploring "creative" ways...
India's IT stocks head for worst day in 4 months on AI disruption worries; TCS plunges 9%
India's IT stocks head for worst day in 4 months on AI disruption worries; TCS plunges 9% June 3 : India's information technology stocks were headed for their worst day in four months on Wednesday as renewed concerns that artificial intelligence could disrupt traditional software services rattled investors. The IT index was down 5.8 per cent at 29,310.25 points. If losses hold, this would be its worst day since February 4.
After cutting 8,000 jobs, Mark Zuckerberg may have found a new way to fund Meta’s AI dreams
Mark Zuckerberg laid off 10 percent of Meta's workforce last month, scrapped 6,000 open roles, and told the remaining 70,000 employees that the hard part was over. Two weeks later, the Financial Times reported that Meta is now exploring a stock sale worth tens of billions of dollars—because firing people, it turns out, still isn't enough to pay for what Zuckerberg wants to build next. The layoffs were never really about efficiency.
Xi hosted Trump and Putin in China, but he boarded a plane for Kim
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4 ways Europe wants to wean off US tech
BRUSSELS — The European Union wants to move away from foreign technology over concerns that overreliance has become a risk in shaky trade ties with Washington. The European Commission is finalizing a package of measures to boost its so-called technological sovereignty, set to be published on June 3. The package includes proposals to crack down on the bloc’s deep-rooted exposure to foreign technology in areas including cloud, artificial intelligence, microchips, software and data centers.
How SpaceX President Gwynne Shotwell has achieved Musk's lofty ambitions
How SpaceX President Gwynne Shotwell has achieved Musk's lofty ambitions June 8 : When SpaceX goes public on Friday with what is expected to be a record-setting IPO, it will cap two decades of founder and CEO Elon Musk's ambition to transform rocketry, satellite communications and humanity’s reach into space. Each step of the way, there has been a guiding hand largely out of view: the company's president, Gwynne Shotwell, who has spent 24 years focused on building and selling SpaceX through...
Hero’s welcome for Somali referee denied entry to US World Cup tournament
Hero’s welcome for Somali referee denied entry to US World Cup tournament Omar Artan, the first Somali picked to referee a World Cup, rose from Mogadishu’s pitches, only to be barred at the US border. Mogadishu, Somalia – Barely a few days had passed between the celebrations that greeted news of Somali referee Omar Artan’s journey to the World Cup—a milestone that inspired pride and optimism among Somali football fans—and the crushing realisation that he would not, in fact, be attending...
Google's parent company is raising $80 billion to fuel its AI ambitions
Google's parent company is raising $80 billion to fuel its AI ambitions Not even Alphabet has enough cash to meet its AI goals. One of the biggest factors in the arms race for AI dominance is just how much capital companies are spending on the likes of data centers and compute power. Anthropic, which just filed to go public, last week said it had raised $65 billion in its latest funding round.
Online misogyny risks ‘lost generation of young men’, Sadiq Khan warns as he calls for under-16s social media ban
Online misogyny risks ‘lost generation of young men’, Sadiq Khan warns as he calls for under-16s social media ban The Mayor of London has called on Prime Minister Sir Keir Starmer to bring in an Australia-style ban - Bookmark - CommentsGo to comments London Mayor Sir Sadiq Khan has issued a stark warning, cautioning that online misogyny risks creating "a lost generation of young men", as he intensified his call for a ban on social media for under-16s. The Mayor’s intervention comes amid...