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Business
SpaceX $1.75tn IPO filing reveals $15bn Anthropic compute deal and xAI's $6.4bn loss
SpaceX filed its S-1 registration with the SEC on Wednesday, disclosing a $15 billion annual compute contract with Anthropic and a $6.4 billion loss at xAI in 2025, as the rocket-to-AI conglomerate targets a $1.75 trillion valuation.
Standard Chartered turns AI push into job cuts
Standard Chartered's plan to cut more than 15 per cent of corporate roles suggests AI is becoming a balance-sheet tool in banking, not just a technology project.
US agencies offer Adani relief in Iran energy case
Treasury's $275 million settlement and a reported DOJ retreat ease a major legal overhang for Adani, but leave Washington's sanctions posture under scrutiny.
NextEra, Dominion talks track AI-driven U.S. power demand
Talks between NextEra and Dominion would create a roughly $400 billion utility group as AI data centers drive a new case for scale in U.S. power.
Trump tech trades intensify White House conflict scrutiny
New disclosures showing thousands of Trump stock trades are sharpening questions over how a president can hold market-sensitive assets while steering policy.
Quectel challenges US defense blacklist in Washington court
Quectel has asked a federal court in Washington to overturn a Pentagon designation that placed the Chinese wireless-device maker on the Section 1260H blacklist.
Cash piles top $8.2 trillion as US equity benchmarks set records
Money parked in US money market funds reached an all-time high of $8.2 trillion in early May as the Dow, S&P 500 and Nasdaq Composite traded near records. The simultaneous build in cash and equities is unusual in modern market history.
Hims & Hers heads into Q1 earnings after 50 per cent monthly surge
Hims & Hers Health reports first-quarter earnings Monday after the bell, with the stock up 49.6 per cent over the past month. Wall Street expects revenue growth of 5.2 per cent, a sharp slowdown from the 111 per cent recorded a year earlier.
Nvidia AI equity bets top $40 billion as circular-deal scrutiny grows
Nvidia's stakes in OpenAI, Corning and IREN top $40 billion, sharpening debate over whether the chipmaker is building a moat or funding a closed loop.
Broadcom slides 4% as OpenAI custom chip financing stalls at $18bn
AVGO shares fell about 4 per cent on Thursday after The Information reported Broadcom and OpenAI are at an impasse over $18bn in first-phase financing for the planned custom-chip rollout.
SK hynix HBM capacity hits zero as Big Tech offers fab funding
SK hynix told customers its high-bandwidth memory output is sold out and that Big Tech buyers are offering to fund new fabs and ASML lithography purchases.
Intel shares surge 16 per cent on reports of preliminary Apple chip manufacturing deal
Intel shares rose as much as 16 per cent on Thursday after reports surfaced that the chipmaker is in preliminary talks with Apple over a manufacturing agreement that would see Intel’s foundry business produce chips for the iPhone maker.
Baidu chip unit Kunlunxin files for Shanghai IPO alongside Hong Kong plan
Baidu's AI chip arm Kunlunxin has filed for a Shanghai STAR Market IPO in addition to a separate Hong Kong listing already in train, with Baidu's Hong Kong shares closing up 5.75 per cent on the news.
Anthropic Leases SpaceXAI's 300MW Memphis Data Center for AI Compute
Anthropic has leased the full 300-megawatt capacity of SpaceXAI’s Colossus 1 data center in Memphis, Tennessee, securing approximately 220,000 Nvidia GPUs in one of the largest single-tenant cloud compute transactions the AI sector has seen.
AMD beats on Q1 as data-center revenue jumps 57%, lifting AI chip rally
Advanced Micro Devices reported $10.25 billion in first-quarter revenue and $1.37 EPS on Tuesday, with data-center sales up 57 per cent to $5.78 billion. Shares rose 18 per cent on Wednesday and lit a wider chip-stock rally.
Arm beats on Q4 but stumbles on AGI CPU supply as $2bn data center orders pile up
Arm topped Q4 estimates with $1.49bn in revenue and 60-cent EPS, then watched its US shares give back gains after executives said only the first $1bn of $2bn-plus AGI CPU orders has secured chip supply.
Samsung crosses $1tn market value as AI memory boom rewrites Asia chip order
Samsung Electronics crossed a $1tn market value on Wednesday, only the second Asian company after TSMC to reach the threshold, after a 14 per cent share-price jump driven by record memory-chip earnings and tightening AI supply.
PayPal to cut 4,500 jobs in $1.5bn AI restructuring as it tries to 'become a technology company again'
PayPal will cut roughly 20 per cent of its workforce, more than 4,500 employees, over the next two to three years as part of a $1.5 billion cost-saving plan that the company is pitching as an artificial-intelligence-driven turnaround, chief executive Enrique Lores told investors on a first-quarter earnings call.
AI build-out costs are reaching consumer pockets, tech earnings show
The cost of the AI build-out has begun to flow through to consumer-electronics buyers, with the latest Big Tech earnings revealing rising prices on devices, subscriptions and cloud services as hyperscalers funnel profits into AI capacity.
