Tencent Holdings is gearing up to spend more on AI infrastructure after chip shortages began showing signs of relief. Chief Strategy Officer James Mitchell said on an earnings call Wednesday that the company will spend significantly more in the second half of this year, as more China-designed AI chips become available “month by month.” China has been running short of advanced chips needed

Alibaba Group CEO Eddie Wu said Wednesday that the company expects its annualized revenue from AI model and application services to surpass 10 billion yuan ($1.47 billion) in the current quarter through June, and top 30 billion yuan ($4.4 billion) by the end of this year. It was the first time Alibaba has disclosed revenue figures for AI-specific services. The Chinese e-commerce and cloud

Is a big AI model maker about to take out a supplier to its archrival? That seems possible if a deal we reported on late Tuesday reaches the finish line.Anthropic is in talks to buy developer tools startup Stainless for at least $300 million,according to Stephanie and Katie. The New York startup ...

Rent the Runway cofounder Jennifer Hyman will step down from the CEO role at the end of this week, the clothing rental company said Wednesday. Hyman will remain an advisor to the company through early 2027, and current board member and former Nordstrom executive Teri Bariquit will serve as interim CEO while the company looks for a full-time replacement. Hyman, who cofounded Rent the Runway in

AI cloud firm Nebius’ revenues rocketed 684% to $399 million in the first quarter, the company reported Wednesday morning, reflecting the explosion of demand for AI neoclouds’ computing capacity. But Nebius, like fellow neocloud CoreWeave, is burning cash. Its capital expenditures jumped to $2.472 billion from $544 million a year ago, while cash from operations was $2.258 billion. Nebius has

Amazon is rebranding its Rufus chatbot to Alexa for Shopping, the company said on Wednesday. Amazon first announced an AI-powered chatbot for shoppers called Rufus in early 2024. A year later, Amazon launched Alexa+, the large language model-enhanced version of its decade plus-old assistant. Amazon says Alexa for Shopping brings together the Alexa+ and Rufus capabilities. “Alexa for Shopping”

Anthropic’s revenue growth is unprecedented. Newer Anthropic customers such as PagerDuty are a big part of the reason. Eric Johnson, chief information officer at PagerDuty, which helps software engineers respond to tech outages, said he is bracing for volatile costs as his company’s 1,200 ...

Junyang Lin, former lead researcher of Alibaba’s Qwen models, is seeking to raise several hundred million dollars for his new AI lab, according to two people with direct knowledge of the matter. The new AI lab will likely be valued at around $2 billion after the funding round, the people said, ...

Nvidia CEO Jensen Huang got a last-minute invitation to join President Donald Trump’s trip to China, Trump revealed in a Truth Social post . After reports surfaced that Huang had been left out of a trip that included many other tech executives, including Elon Musk and Apple CEO Tim Cook, Trump called Huang and invited him, according to a person familiar with the situation. When Air Force One

Junyang Lin, former lead researcher of Alibaba’s Qwen models who left the firm earlier this year, is seeking to raise several hundred million dollars for his new AI lab, The Information reported . Lin’s new AI lab will likely be valued at around $2 billion after the funding round, though the discussions are ongoing and the final valuation could change. Chinese venture capital firms Gaorong

Is it time for another activist investor to take a run at Microsoft? Shares of the iconic software giant are down nearly 16% so far this year, making it the worst performer of the big tech names. The Financial Times reported on Friday that British hedge fund TCI had sold “almost all” of its ...

When some journalist writes the book on the AI boom, one critical chapter will start on Christmas Eve 2025. That was the day that Nvidia and OpenAI’s complicated frenemy relationship became incredibly lucrative for chip startups that focus on AI inference.We already know that Christmas Eve was ...

OpenAI CEO Sam Altman sought to turn the tables on Elon Musk in their legal battle, testifying that the tycoon abandoned the group they co-founded and worked to undermine its success. Altman’s appearance in court Tuesday marked the highest-stakes moment yet in the trial over Musk’s lawsuit, ...

The charitable foundation tied to Nvidia CEO Jensen Huang and his wife, Lori Huang, has agreed to rent Nvidia graphics processing units from CoreWeave, which it plans to donate to artificial intelligence developers, according to Nvidia’s annual report. The Huang Foundation has donated $108 million in “GPU compute time grants” to date, according to the report, which was made public Tuesday. The

Madison and Spencer Huang, the daughter and son of Nvidia CEO Jensen Huang, have quietly become rising forces inside the world’s most valuable company—and their paychecks reflect it. Madison, a senior director of product marketing, earned $1.2 million last year, according to Nvidia’s annual report, which was made public Tuesday. That was up from $1.1 million in 2024. Spencer, a director of

Anthropic is in advanced talks to acquire developer tools startup Stainless for at least $300 million, according to a person with knowledge of the deal. The four-year-old Stainless sells software to model makers including Anthropic, OpenAI and Google that helps developers, non-technical people ...

SAP has been slower than some of its software rivals in embracing AI agents, but the German software giant’s executives spent the first day of its annual customer conference trying to change that perception. One of SAP’s biggest moves is a new agreement with Anthropic that will make it easier for SAP customers to build agents using the startup’s Claude models through a deeper integration

Software companies such as HubSpot and Adobe have started pricing their AI tools based on the number of tasks the AI successfully completes rather than based on flat fees or the number of AI tokens they consume.Many more firms plan to follow suit, even as the practice is still being hotly ...

Perhaps the only thing outpacing AI spending is the volume of commentary dedicated to the technology’s disruption. And while business leaders aren’t lacking for insights, they are discovering that AI is evolving faster than any coherent playbook can keep up with. The result is that companies are ...

Getting in on the ground floor of the next AI wave can feel particularly elusive for investors. With billions continuing to pour into frontier models and the infrastructure powering them, much of that opportunity is already spoken for. For investors looking beyond hyperscalers and data centers, ...