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Global stock markets fall sharply over AI bubble fears
Drop in US, Asia and Europe follows warning from bank bosses that market correction could lie ahead Business live – latest updates Global stock markets have fallen sharply amid concerns that a boom in valuations of artificial intelligence (AI) companies could be rapidly cooling. Markets in the US, Asia and Europe have fallen after bank…
Elon Musk’s $1tn Tesla pay deal to be rejected by huge Norway wealth fund
Carmaker’s seventh biggest single investor will vote against package at annual shareholder meeting Business live – latest updates Norway’s sovereign wealth fund has said it will vote against a $1tn (£765bn) pay package for the Tesla chief executive, Elon Musk. The fund, which is the biggest national wealth fund in the world, said that while…
Elon Musk’s $1tn Tesla pay deal to be rejected by huge Norway wealth fund
Carmaker’s seventh biggest single investor will vote against package at annual shareholder meeting Business live – latest updates Norway’s sovereign wealth fund has said it will vote against a $1tn (£765bn) pay package for the Tesla chief executive, Elon Musk. The fund, which is the biggest national wealth fund in the world, said that while…
OpenAI signs $38bn cloud computing deal with Amazon
Agreement to use AWS datacentres, and Nvidia chips inside them, part of $1.4tn spending spree on AI infrastructure OpenAI has signed a $38bn (£29bn) deal to use Amazon infrastructure to operate its artificial intelligence products, as part of a more than $1tn spending spree on computing power. The agreement with Amazon Web Services means OpenAI…
‘History won’t forgive us’ if UK falls behind in quantum computing race, says Tony Blair
Exclusive: Former PM and ex-Tory leader William Hague warn UK lacks high-risk capital and infrastructure to harness benefits of powerful technology Tony Blair has said “history won’t forgive us” if the UK falls behind in the race to harness quantum computing, a frontier technology predicted to trigger the next wave of breakthroughs in everything from…
Nexperia halts chip supplies to China in threat to global car production
Dutch-controlled company informs customers about suspension but is said to want to de-escalate trade war Nexperia, the EU-based automotive chipmaker at the centre of a geopolitical dispute, has suspended supplies to its Chinese factory, stepping up a trade war that threatens to halt production at carmakers around the world. The company wrote to customers this…
Apple reports record iPhone sales as new lineup reignites worldwide demand
Tim Cook forecast 10% to 12% revenue growth in the quarter ending in December, typically Apple’s biggest of the year Apple reported its first quarterly earnings since the release of its new lineup of iPhones on Thursday, beating Wall Street analysts’ expectations. The company showed steady financial growth and a strong bottom line despite slow…
OpenAI thought to be preparing for $1tn stock market float
ChatGPT developer is considering filing for an IPO by the second half of 2026, according to reports OpenAI is reportedly gearing up for a stock market listing valuing the company at $1tn (£760bn) as soon as next year, in what would be one of the biggest ever initial public offerings. The developer behind the hit…
Microsoft reports strong earnings as Azure hit by major outage
Tech giant reports earnings of $3.72 per share day after deal with OpenAI pushed value of company to more than $4tn Microsoft blew off concerns of overspending on AI on Wednesday, reporting elevated earnings even as it faced an outage of its cloud computing service, Azure, and its office software suite, 365. The strong earnings…
Nvidia becomes world’s first $5tn company amid stock market and AI boom
Silicon Valley chipmaker hits $5tn valuation just three months after it was first to break through the $4tn barrier Nvidia has become the world’s first $5tn company as the artificial intelligence industry and wider US stock market boom. Just three months ago, the Silicon Valley chipmaker was the first to break through the barrier of…