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Exclusive: Relativity Networks raises $4.6 million to bring better connectivity to the AI boom

Co-founder and CEO Jason Eichenholz says his startup's hollow core fiber can transmit information faster and be manufactured at high volume.

Fortune 2 hours ago

Baidu CEO says more AI spend still needed despite DeepSeek's success

Investment in data centres and cloud infrastructure is still needed despite DeepSeek challenging the cost efficiency of large AI models, Baidu CEO Robin Li said on Tuesday. Li's comments come as Chinese AI startup DeepSeek has gained global attention for developing language models that match the performance of leading systems like OpenAI's GPT while using significantly less computing power, raising questions about the necessity of massive AI infrastructure spending.

BP promises fundamental reset as Q4 profit hit four-year low

BP reported quarterly profit of $1.17 billion on Tuesday, weaker than expected and the lowest in four years, while the company promised to reset its strategy, after news broke at the weekend that investor Elliott Management had built up a stake. But BP has underperformed its peers and pressure has mounted on CEO Murray Auchincloss to deliver change. On Monday, it had rallied strongly on expectations Elliott's acquisition of an undisclosed stake would enforce change.

Novartis buys Blackstone's Anthos for up to $3.1 billion

(Reuters) -Swiss pharmaceutical giant Novartis has agreed to acquire Anthos Therapeutics, a biopharma firm majority-owned by Blackstone's drug development unit, for up to $3.1 billion, to boost its cardiovascular business. Anthos was founded by private equity firm Blackstone's Life Sciences business and by Novartis in 2019 to develop, manufacture, and commercialise abelacimab, a treatment to prevent strokes and the recurrence of blood clots.

SoftBank Weighs Debt-Heavy Financing in $500 Billion AI Push

(Bloomberg) -- A few weeks ago, SoftBank Group Corp. founder Masayoshi Son stood alongside US President Donald Trump to unveil the Stargate Project, an artificial intelligence venture with OpenAI that could cost $500 billion or more. Now Son is figuring out how to pay for it.Most Read from BloombergNice Airport, If You Can Get to It: No Subway, No Highway, No BridgeSaudi Arabia’s Neom Signs $5 Billion Deal for AI Data CenterSin puente y sin metro: el nuevo aeropuerto de Lima es una debacleThe Fo

Elon Musk reportedly offers $97.4B for OpenAI, Sam Altman says 'no thank you'

OpenAI CEO Sam Altman shot down an unsolicited offer by Elon Musk to purchase OpenAI for $97.4 billion.

The Magnificent 7 trade is struggling — Here's why

The Mag 7 trade has cooled down. Here is the simplest reason why.

What economic leaders said about the future of AI in the workforce at Davos

Economic leaders had a lot to say about the future of artificial intelligence in the workforce — and the perspectives vary.

Hidden AI stocks set to rally amid DeepSeek's breakthrough, analysts predict

For investors looking to cash in on AI’s next growth phase, it may be time to look beyond hyperscalers and chipmakers like Nvidia and AMD.

What Big Tech execs have said about DeepSeek as US contemplates ban

As Big Tech earnings season enters full steam, DeepSeek AI is either a bright spot — touted by CEOs as proof of their company’s potential in the booming AI market — or a blemish best left unmentioned.

Microsoft's Bill Gates: Steve Jobs was a genius in this area

Bill Gates offers up praise for his late rival, Apple co-founder Steve Jobs.

Chart of the Week: 2025's monster AI spend is now revealed

This week saw the remainder of the hyperscalers lay out their 2025 AI capex plans. And the investments continue to get bigger and bigger.

Big Tech set to invest $325 billion this year as hefty AI bills come under scrutiny

Meta, Microsoft, Amazon, and Google parent Alphabet are expecting a cumulative $325 billion in capital expenditures in 2025, driven by their investments in artificial intelligence infrastructure.

Big Tech is a pawn in US-China trade war. Here's why some will feel the heat more than others.

Big Tech is the key piece of the US-China trade war. And some companies are going to feel the heat far more than others.

Amazon wants to spend $104 billion, and the stock gets clipped: What Wall Street is saying

Amazon's light guidance overshadows an otherwise solid quarter.

Stripe in Talks for Staff Share Sales at $85 Billion-Plus Value

(Bloomberg) -- Stripe Inc. is in discussions to arrange sales of stock by employees at an $85 billion valuation, people familiar with the matter said, a deal that could help the Silicon Valley payments startup regain some of the capitalization it lost during a post-Covid slump.Most Read from BloombergNice Airport, If You Can Get to It: No Subway, No Highway, No BridgeSaudi Arabia’s Neom Signs $5 Billion Deal for AI Data CenterSin puente y sin metro: el nuevo aeropuerto de Lima es una debacleThe

BYD Starts New EV Price War With Free Smart-Driving System

(Bloomberg) -- BYD Co. opened a new front in China’s electric vehicle price war — adding advanced driver-assistance features across most of its lineup for no extra cost and sending its shares to a record. Most Read from BloombergNice Airport, If You Can Get to It: No Subway, No Highway, No BridgeSaudi Arabia’s Neom Signs $5 Billion Deal for AI Data CenterSin puente y sin metro: el nuevo aeropuerto de Lima es una debacleThe Forgotten French Architect Who Rebuilt MarseilleIn New Orleans, an Aging

Altman Says ‘No Thank You’ to Musk-Led Group’s OpenAI Bid

(Bloomberg) -- A group of investors led by Elon Musk has offered to buy the nonprofit that controls OpenAI for $97.4 billion, escalating a clash between the Tesla chief executive and the artificial intelligence company he co-founded. Most Read from BloombergNice Airport, If You Can Get to It: No Subway, No Highway, No BridgeSaudi Arabia’s Neom Signs $5 Billion Deal for AI Data CenterSin puente y sin metro: el nuevo aeropuerto de Lima es una debacleThe Forgotten French Architect Who Rebuilt Marse

Oil climbs on supply worries, Trump tariffs check gains

Oil prices extended gains on Tuesday amid concerns over Russian and Iranian oil supply and sanctions threats, despite worries that escalating trade tariffs could dampen global economic growth. Brent crude futures were up 55 cents, or 0.72%, at $76.42 a barrel by 0717 GMT, while U.S. West Texas Intermediate crude rose 50 cents or 0.69% to $72.82. ANZ analysts noted Russian oil production fell short of its OPEC+ quota in January, easing concerns of an oversupply.

Cybereason CEO Sues Mnuchin, SoftBank Fund Over Financing Plan

(Bloomberg) -- The chief executive officer of Cybereason Inc. sued two investors — former Treasury Secretary Steven Mnuchin and the SoftBank Vision Fund — accusing them of putting the company at risk of bankruptcy by rejecting multiple plans for a much-needed capital infusion of as much as $150 million.Most Read from BloombergNice Airport, If You Can Get to It: No Subway, No Highway, No BridgeSaudi Arabia’s Neom Signs $5 Billion Deal for AI Data CenterSin puente y sin metro: el nuevo aeropuerto