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Von der Leyen's AI envoy pick draws conflict of interest questions
Centre-left MEPs are questioning von der Leyen's choice of of Siemens chairman Jim Hagemann Snabe to serve as the EU's industrial AI envoy. Forty-one centre-left MEPs are raising concerns over a potential conflict of interest in European Commission President Ursula von der Leyen's choice for the EU's first special envoy for industrial AI. At the end of May, Euronews revealed that the Commission chief was considering creating a new high-level post for AI to drive EU industrial policy in this...
'AI is no longer ..': What Nvidia CFO Colette Kress said at company's earnings call
Nvidia’s Chief Financial Officer (CFO) Colette Kress has revealed that artificial intelligence (AI) is no longer a “nice-to-have” technology. She admitted that AI has become a necessity for businesses seeking productivity gains and highlighted the growing role of the technology in shaping demand for infrastructure, chips and software for the US-based chip giant. During the company’s earnings call earlier this month, Kress said, “AI is no longer a nice-to-have.
Is predictive text giving you mistakes and 'hallucinations'? You're not alone
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India leads among immigrant founders of US billion-dollar startups
Indian entrepreneurs have emerged as the largest immigrant group behind America's billion-dollar startup ecosystem, founding or co-founding 96 US unicorns, according to a new study that underscores the growing influence of Indian talent on the world's biggest innovation economy. The report by the National Foundation for American Policy (NFAP) found that immigrants have founded or co-founded 455 of America's 775 privately held startups valued at $1 billion or more, accounting for 59% of all...
Megaport secures 4 AI deals, to raise $594 million to build inference cloud
Megaport secures 4 AI deals, to raise $594 million to build inference cloud June 3 : Australia's Megaport said on Wednesday it has secured four new AI infrastructure contracts worth A$458.9 million and will raise A$827.3 million ($594 million) to build an inference cloud to cash in on surging demand for AI-related facilities. The deals underscore the fierce race among infrastructure providers to capture a share of the booming AI compute market, as firms across industries scramble to secure...
Australia's Megaport secures four new AI infrastructure contracts, to raise $594 million
Australia's Megaport secures four new AI infrastructure contracts, to raise $594 million June 3 : Australia's Megaport said on Wednesday it has secured four new AI infrastructure contracts with a total contract value of about A$458.9 million ($329.49 million), and launched a fully underwritten entitlement offer to raise A$827.3 million ($594 million). The four contracts, all with U.S.-based technology providers running AI applications, are expected to start in the first half of 2027 and...
Google parent Alphabet to sell $80bn in stock to fund AI plans
Google parent Alphabet to sell $80bn in stock to fund AI plans US tech giant says fundraising drive includes deal to sell $10 bn of stock to Berkshire Hathaway. Alphabet, Google’s parent company, has announced plans to sell $80bn worth of shares to fund its rollout of artificial intelligence. Alphabet said on Monday that the equity offerings would finance the rollout of AI infrastructure needed to meet “unprecedented customer demand”.
Shopee slashes jobs in Singapore amid AI push; software engineers among those affected
Shopee slashes jobs in Singapore amid AI push; software engineers among those affected Employees at Shopee's Singapore headquarters told CNA they were laid off on Monday. E-commerce giant Shopee has slashed jobs in Singapore amid its latest foray into artificial intelligence, stating that the cuts come after a regular review of business operations. Responding to media queries on Wednesday (Jun 10), a Shopee spokesperson said the company regularly assesses its “staffing needs”.
SpaceX sets IPO price, valuing company at $1.75tn ahead of record debut
The company said on Wednesday that it plans to list its shares at $135 each. The offering would value SpaceX at around $1.77tn (€1.56tn), making it one of the world's most valuable listed companies and potentially the largest IPO in history. SpaceX says it plans to raise up to $75 billion (€66bn) in its long-awaited stock market debut, a move that would make it the largest initial public offering (IPO) on record and significantly boost the wealth of founder Elon Musk, potentially making him...
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.