Shares of debt-heavy AI firms tumbled Wednesday as higher interest-rate prospects intensified concerns about financing the industry’s massive buildout. Companies whose shares had rallied earlier this year on AI optimism were some of the worst performers on the main benchmarks. • Shares of neocloud firms…
Category: Tech
Explainer – What is Starshield, SpaceX’s military version of Starlink? – CNBC TV18
Ukraine said on Wednesday that Elon Musk’s SpaceX had restricted “military-grade” Starlink services, hampering Ukrainian drone strike missions and air defenses. The complaint has drawn renewed attention to the distinction between Starlink, SpaceX’s commercial satellite internet service, and Starshield, a military version developed for the…
KOSPI crashes 8%, Nikkei down 4% as Asian markets feel the AI sell-off heat – CNBC TV18
The Asian markets have gotten off to a forgettable start to the day’s trade today (Thursday, October 15), with all the key indices crumbling under the pressure of the global chip sell-off rout. A major selloff in global equity markets spilt into the Asia-Pacific region…
Anthropic revenue jumps to $16.8 billion in third quarter – CNBC TV18
Anthropic told prospective investors on Wednesday that revenue in the third quarter surged 45% from the prior quarter, two people who attended an investor day said, a move that could assuage market concerns about the huge costs of developing AI systems. Revenue in the third…
Eight US states sue OpenAI, claiming ChatGPT harms young users – CNBC TV18
A bipartisan group of eight states said on Wednesday they had sued OpenAI in courts across the country over harms they say ChatGPT has caused to their residents, alleging the chatbot has coached its users — including teenagers — to harm themselves or others. Attorneys…
BlackRock CEO Larry Fink warns data centre construction halt could push US into recession – CNBC TV18
BlackRock CEO Larry Fink has warned that halting data centre construction in the US could trigger a recession, arguing that the rapid expansion of artificial intelligence infrastructure has become an important driver of economic activity. “If we have a moratorium of some sort in this…
Apple market value tops $5 trillion after unveiling new smart-home device – CNBC TV18
Apple’s market value crossed $5 trillion on Wednesday, with its shares trading at $344.61, following the launch of a new smart-home product. Apple had briefly crossed the $5 trillion mark for the first time on July 28, becoming the second company after Nvidia to reach…
OpenAI names Uday Ruddarraju to lead data center, computing unit – CNBC TV18
OpenAI has named former xAI executive Uday Ruddarraju to lead its infrastructure and compute businesses, marking the latest leadership shakeup for its teams focused on expanding data centre capacity. Ruddarraju joined OpenAI last year and was appointed as chief technology officer for compute in July.…
OpenAI employee who left for Apple took files about unreleased device, OpenAI alleges – CNBC TV18
An OpenAI employee who left the ChatGPT maker for Apple sent more than 100 files about an unreleased product to a personal account and later made a presentation about the unreleased product to senior Apple leadership, a new filing in the lawsuit between OpenAI and…
As Wall Street banks finance and adopt AI, risks mount on both fronts – CNBC TV18
Wall Street’s biggest banks want to ride the AI wave without getting caught in its undertow, as the promise of a lucrative infrastructure boom collides with questions over returns and new security threats. Executives at the largest US banks this week discussed the risks of…