Business — page 10
Nvidia and KAIST open first joint AI lab between Korea and a global tech firm
The Seoul lab focuses on agentic AI and pairs Nemotron models with NVIDIA AI Cloud compute, as SK deepens memory ties with Nvidia.
Google's Gemini hits 950M monthly users, closing on ChatGPT
Gemini tripled its user base in a year, and Sensor Tower says ChatGPT's assistant market share has dropped below 50% for the first time.
Etched raises $300M Series C at $10.3B, doubling valuation in seven months
Sequoia led the round; the AI inference chip startup says it has booked $1B in orders and is running silicon in its lab.
IBM mainframe revenue drops 42% as customers divert budgets to AI hardware
IBM's stock fell 25% in its biggest single-day decline ever after AI-driven price hikes on data center gear pulled cash away from mainframe upgrades.
Google Cloud revenue jumps 82% to $24.8B, validating AI spend
Alphabet's cloud backlog hit $514B and profit tripled to $112.1B, giving Sundar Pichai cover for $190B in annual capex.
Monday.com cuts 630 jobs, 20% of staff, in pivot to AI Work Platform
The Israeli software maker expects $45M–$55M in restructuring charges as it concentrates spending on AI agents and no-code tooling.
Travis Kalanick's Atoms raises $1.7B from a16z to build AI robotics
Andreessen Horowitz leads a $1.7B round for the ex-Uber CEO's robotics play, with Uber itself joining nine years after pushing him out.
Amazon cuts jobs in AGI unit as it pours $200B into AI buildout
The Nova model group loses staff even as Amazon's 2026 capex jumps more than 50% and the company raises at least $25B in debt.
AMD commits up to $5 billion to Anthropic in 2-gigawatt chip deal
Anthropic will deploy 2 gigawatts of AMD Instinct MI450 GPUs starting in 2027, adding a second major silicon supplier alongside Nvidia.
Google commits $40M in AI credits to DOE's Genesis Mission
Google DeepMind opens AlphaFold 3, AlphaEvolve, and Gemini for Government to all 17 US National Laboratories under the White House initiative.
NextEra, Duke, and 200 utilities sign Trump's AI electricity pledge
Signatories now cover 80% of US power delivery, but the voluntary pledge carries no penalties and states set the rates.
Samsung in talks to back Mistral at €20 billion valuation
The French AI lab would more than triple its valuation from its last round, giving Samsung a strategic foothold in European frontier models.
Synthesia launches Roleplay Sessions to score employees on AI conversations
The British startup is moving beyond training videos into interactive practice, betting enterprises will pay for measurable behavior change.
Anthropic held acquisition talks with Physical Intelligence, complicating OpenAI's robotics push
The $11B robotics startup denied a weekend rumor, but spring talks were real — and OpenAI is already on the cap table.
Pat Gelsinger bets on xLight lithography to restart Moore's law
The former Intel CEO joined Playground Capital in March 2025 and wants to push past ASML's 13.5-nanometer light barrier.
Netflix, Spotify, YouTube converge on AI-powered entertainment app model
Format is no longer the differentiator — the fight is over which app owns every spare minute of a user's day, and AI is the wedge.
Gritt exits stealth with $34M to put AI-driven robots on solar construction sites
The Carnegie Mellon-founded startup says its systems help crews install 3,000–4,000 panels a day, up from 800 without them.
US Army burns through a year of AI tokens in weeks on Ask Sage
DEVCOM staff told to throttle usage after the Army CIO's 100M-token annual pool ran dry weeks after unlimited access was announced.
Google's Frozen v2 chip targets 6-10x efficiency gain for Gemini
Alphabet is designing a 2028 server chip to run Gemini cheaper as it spends $190B on AI infrastructure this year.
CuspAI raises $450M from UK government and Jeff Bezos for materials discovery
The Cambridge-based startup wants to use generative AI to design new materials for carbon capture, batteries, and semiconductors.
Bristol Myers buys Nvidia's newest AI computing system for drug research
The pharma giant becomes an early customer for Nvidia's latest AI hardware, deploying it to accelerate small-molecule and biologic discovery.
Nvidia anchors Japan's $6.2B sovereign AI push with Vera Rubin factory
Jensen Huang's two-day Tokyo swing yielded a national AI factory, a robotics coalition of 44 firms, and deeper Toyota integration.
Current AI raises $400M to build a public AI alternative to OpenAI and Google
The French-seeded nonprofit has deployed $3.2M in grants and shipped an open chatbot built in seven weeks by ten organizations.
Databricks hits $188B valuation as Coatue leads new round
The data platform's fourth up-round in 18 months lifts its mark 40% above February's $134B, cementing its AI-provider reinvention.
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