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Alibaba to Raise HK$80 Billion to Accelerate AI Push
technology6 days ago

Alibaba to Raise HK$80 Billion to Accelerate AI Push

Alibaba plans an HK$80bn (about $10.2bn) share placement, with 100% of net proceeds earmarked for expanding its full‑stack AI capabilities and infrastructure, capitalizing on buoyant Chinese markets even as it posts a June quarter free cash outflow of $6.6bn and a 75% drop in net profit as AI spending rises. The move follows a wave of AI-related enthusiasm—including the Qwen 3.8‑Max model, CXMT IPO, and Unitree Robotics—while Alibaba navigates US regulatory pressure, including the Pentagon blacklist and ongoing tech‑policy talks ahead of a U.S.–China summit.

via Financial Times|
#alibaba#artificial-intelligence#asia-pacific
ECB Warns US Tech Slump Could Jeopardize Eurozone Stability
economy11 days ago

ECB Warns US Tech Slump Could Jeopardize Eurozone Stability

ECB researchers warn that a correction in US technology stocks could threaten euro-area financial stability, given European exposure to US tech equities and the historically linked performance of US and European markets. They note that AI-driven booms can inflate valuations and risk premia, so a US tech downturn could become a eurozone stability issue even if AI proves transformative, especially if broader market instability accompanies the slide.

via Financial Times|
#artificial-intelligence#economy#eurozone-economy
Meta’s AI gamble rattles investors as forecast misses
technology1 month ago

Meta’s AI gamble rattles investors as forecast misses

Meta Platforms shares fell about 6% after hours as Q2 revenue rose to $60.8B (up 28%), but its Q3 forecast of $61-64B and net income of $15.8B (vs. $18.5B est) disappointed amid a 55% surge in costs as Mark Zuckerberg presses ahead with massive AI infrastructure, including data centers and the TBD Lab/Muse Spark; 2026 capex guidance is now $130-145B, with ongoing monetisation and cloud ambitions to bolster future returns.

via Financial Times|
#artificial-intelligence#corporate-earnings-and-results#meta-platforms
Khanna: Trump-era policy worsened US chip shortage
us-politics-and-policy1 month ago

Khanna: Trump-era policy worsened US chip shortage

Ro Khanna, the top Democrat on the House China committee, says the Trump administration undermined Biden-era Chips Act incentives to boost U.S. memory-chip manufacturing, risking higher consumer electronics prices and greater reliance on Chinese suppliers like CXMT, which the Pentagon has blacklisted over alleged military ties. Apple is lobbying for clearance to buy CXMT chips amid AI-driven demand, while Khanna seeks clarity on funding under the act that could be delayed or withheld.

via Financial Times|
#china#semiconductors#technology-sector
Tesla profits dive as discounts and fading credits dent results
business1 month ago

Tesla profits dive as discounts and fading credits dent results

Tesla’s Q2 profit fell 17% to $1.2B as heavy discounting to boost EV demand weighed on margins, and revenue from regulatory credits collapsed to $146M from $439M. Automotive margin excluding credits came in at 16.3%, below expectations, with US demand hampered after the loss of a $7,500 tax credit. The company is accelerating a pivot to semiconductors, autonomous taxis and humanoid robots, boosting capex by 142% to $5.79B and posting a quarterly cash burn of $1.1B despite record deliveries of 480,126 and revenue rising 26% to $28.2B. Musk signaled 2026 capex above $25B as AI and chip initiatives expand.

via Financial Times|
#business#corporate-earnings-and-results#electric-vehicles
Shenzhen’s robotaxis push stirs worry among taxi drivers
technology2 months ago

Shenzhen’s robotaxis push stirs worry among taxi drivers

Shenzhen is expanding robotaxis to promote autonomous mobility, in a saturated taxi market with about 400,000 licensed drivers earning roughly 13 fares a day; July rules will enable robotaxi tests citywide as operators like Pony.ai and Baidu run pilots, raising concerns among drivers that automation could replace or erode livelihoods even as robotaxis may eventually supplement human drivers in China’s gig economy amid policy aims to address an ageing workforce and a manufacturing shift.

via Financial Times|
#chinese-employment#driverless-vehicles#gig-economy
Robot deliveries could replace 700,000 JD.com couriers, says founder
technology2 months ago

Robot deliveries could replace 700,000 JD.com couriers, says founder

JD.com founder Richard Liu warned that rapid automation could eventually replace about 700,000 delivery workers, as the company trains couriers for robot maintenance and runs pilot programs (e.g., airport delivery robots and robot restocking). The comments highlight policymakers’ worries about gig workers amid China’s push on robotics in its five-year plan, with youth unemployment rising and debates over social protections for platform workers.

via Financial Times|
#chinese-economy#employment#gig-economy
Coupang faces historic data-breach penalty as Korea tightens tech oversight
technology2 months ago

Coupang faces historic data-breach penalty as Korea tightens tech oversight

South Korea fined Coupang 624.6 billion won ($409 million) for a data breach that exposed the personal information of roughly two-thirds of the population, the largest such penalty in the country; authorities said security controls were lax and response was delayed, triggering leadership changes and fueling broader debates over US-Korea tech regulation.

via Financial Times|
#asia-pacific-companies#coupang#data-protection
OpenAI shifts ChatGPT into a business-first AI 'superapp' ahead of IPO
technology2 months ago

OpenAI shifts ChatGPT into a business-first AI 'superapp' ahead of IPO

OpenAI is planning its biggest overhaul of ChatGPT since launch, turning the chatbot into a business-focused 'superapp' that blends Codex, AI agents and partner apps. The company is reorganizing to win more enterprise customers and push toward profitability ahead of an IPO, trimming consumer-only features and steering users toward coding tools, image generation, and business applications. Executives view AI agents that perform tasks across work and life as the future, with a rollout of interface changes starting in coming weeks.

via Financial Times|
#artificial-intelligence#business-strategy#ipo
Alphabet plans $80 billion equity raise to bankroll AI infrastructure buildout
business2 months ago

Alphabet plans $80 billion equity raise to bankroll AI infrastructure buildout

Alphabet plans to raise up to $80 billion in equity to fund its AI infrastructure investments, including a $10 billion private placement to Berkshire Hathaway—its first stock sale in more than two decades. The move accompanies an expected up to $190 billion in capital expenditure this year, funded in part by debt, as Alphabet seeks to diversify funding sources. Berkshire would own about $32 billion of Alphabet, elevating its stake among Berkshire’s top holdings. Proceeds will also cover changes to taxes on vesting employee stock grants, with about $30 billion from common/convertible shares and up to $40 billion from open-market sales expected starting in Q3. Goldman Sachs acted as placement agent for Berkshire and joint bookrunner on the equity raise with JPMorgan Chase and Morgan Stanley. Google Cloud posted a 63% YoY revenue rise to $20 billion in Q1, highlighting AI-driven growth.

via Financial Times|
#alphabet-inc#artificial-intelligence#berkshire-hathaway
Iran weaponizes Western AI to sharpen cyber warfare
world2 months ago

Iran weaponizes Western AI to sharpen cyber warfare

Western AI models such as OpenAI’s ChatGPT and Google’s Gemini are increasingly used by Iran’s security apparatus to accelerate cyber operations, enabling malware development, multilingual phishing, and faster, larger-scale attacks; Iran is also building an offline national AI platform to endure internet outages and enhance drone, missile guidance, and electronic warfare, while OpenAI and other providers work to curb abuse. Analysts say Iran’s use of AI spans research, translation, and planning, signaling a rising capability that lags behind Western powers but is closing the gap amid ongoing regional tensions.

via Financial Times|
#artificial-intelligence#cyber-security#government-of-iran
Snowflake’s AI lift sparks stock surge as SaaS fears ease
technology3 months ago

Snowflake’s AI lift sparks stock surge as SaaS fears ease

Investors are differentiating winners from losers in software shares after fears of an AI-driven SaaSpocalypse, with Snowflake jumping on news of a 31% mid-year revenue rise aided by its AI data-analysis tools and its CoCo coding assistant. But competition from Databricks, SAP, Microsoft and Google is likely to intensify, and Snowflake remains unprofitable for now and is not in the S&P 500, suggesting the SaaS renaissance may be real but not guaranteed.

via Financial Times|
#ai#saas#snowflake