Meta is spending hundreds of millions of dollars a year buying access to AI models through Microsoft’s cloud. The company runs trillions of tokens a week through Azure, Bloomberg reported, citing a person familiar with the matter who asked not to be id…
Apple paid Ireland $17.1bn in tax last financial year. That is around 40% of everything it paid in corporate income tax anywhere in the world. The figure comes from a company filing that breaks Apple’s tax down country by country, Reuters reported from…
Broadcom is in talks with lenders to raise more than $60bn in debt, Bloomberg reported on Thursday. The money would finance AI chips for Anthropic and other companies. Bloomberg cited people with knowledge of the matter. The figures under discussion co…
Samsung Electronics approved the largest shareholder return in South Korean corporate history on Friday. Its shares then fell as much as 2.6% in post-market trading. The board signed off on a Samsung shareholder return of between 90 trillion and 110 tr…
Alibaba’s net profit fell 75% in the June quarter, to $1.54bn. The cause was not a weak business. It was the bill for building one. Capital spending reached $9.98bn in three months, up 75% on the same quarter last year, according to the results announc…
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…