Meta launches $35 billion stock offering to fund AI expansion - Reuters

More in Technology

• In China, the AI bubble has already burst - Reuters

  China's artificial intelligence industry, once seen as a bright spot in the country's tech sector, has faced significant challenges and setbacks. The rapid growth and hype surrounding AI in China have led to a bubble, but the reality is that many of the innovations have not been as impressive as initially projected. The government's strict regulations and the lack of a clear roadmap for the industry have dampened investor interest and slowed down the progress. As a result, the Chinese AI market is now facing a rea…

  1 min read
• Cracking AI trade has Wall Street looking for a hedge. An ex-Citadel quant may have the answer

  An ex-Citadel quantitative researcher, Jasper Zhang, is leading Hyperbolic, a startup developing a marketplace for tradable GPU computing power to hedge against the decline in demand for AI hardware. Zhang believes the technology could be the first building block of "physically" settled GPU futures, offering complete control over GPU clusters. The company has raised $20 million and expects a $150 million annualized run rate by the end of the year. Other big players, including CME Group and DRW, are also seeing the…

  3 min read
• SpaceX enters $40 billion deal with Apollo for AI chip financing

  SpaceX has inked a significant deal with Apollo Global Management, a leading asset manager, to finance the procurement of AI chips. This partnership underscores SpaceX's commitment to leveraging cutting-edge technology, particularly in the realm of artificial intelligence, to drive innovation and growth.

  1 min read