SpaceX posted a 30-minute all-hands to X on Tuesday. Elon Musk used it to make two claims, and they only make sense together. The first is a number. AI revenue will pass everything else the company sells by next month. The second is a method. SpaceX wi…
Jennifer Bailey, head of Apple Pay and Wallet since the service launched in 2014, is retiring in October after more than 25 years at Apple. Her exit is one of several senior departures ahead of Tim Cook handing the chief executive job to John Ternus on…
Nvidia said on Monday it would partner with six of the largest names in private capital to finance AI infrastructure through vehicles worth more than $500 billion. Apollo, BlackRock, Blackstone, Brookfield, Goldman Sachs and KKR are all in. The compa…
The Arena Group is renaming itself Paradium.AI. The publisher of TheStreet, Parade and Men’s Journal expects the change to finish by the end of August. Business Insider had it first. Steven Tweedie and Ben Shimkus obtained a staff memo from chief execu…
CrowdStrike and Palo Alto Networks hit record highs on Monday. Each rose more than 5%, after a week in which the Black Hat conference in Las Vegas turned into an argument about AI agents. CNBC’s Samantha Subin reported the move. CrowdStrike gained 11.3…
Jefferies cut Apple from hold to underperform on Monday. That is the bank’s equivalent of a sell rating. It also cut its price target from $285.56 to $263.66. Fortune’s Sebastian Herrera reported the call. The bank’s supply-chain checks produced three …
A group of financial firms is working with Nvidia on a $500bn funding package for AI infrastructure. The group covers Apollo Global Management, Blackstone, BlackRock’s Global Infrastructure Partners, Brookfield Asset Management, Goldman Sachs and KKR. …
Lambda is selling a $917 million leveraged loan to finance a chip purchase, Bloomberg reported on Monday. Jeannine Amodeo, Paula Seligson and Gowri Gurumurthy broke the story. The money pays for GPUs and other infrastructure as part of a contract with …
The AI trade blew up its own poster child last month, and thousands of people decided to keep betting on him. More than 5,000 retail investors are still mirroring Leopold Aschenbrenner’s stock portfolio, Business Insider reported, even after his hedge …
Microsoft’s AI business looks like a triumph. Its shares jumped after earnings last week, and the AI unit is growing fast. A new filing shows how much of that rests on a single partner. Microsoft booked $24.1 billion in revenue from OpenAI during the y…