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Korea’s AI chip market is now the opening bell for global stocks

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Fund managers in London, New York, and Tokyo have added a new step to their morning routine: checking South Korean stocks. Korea’s $4 trillion equity market is now offering an early read on global AI risk appetite, as swings in SK Hynix and Samsung ripple through chip stocks worldwide. “We are all Korean investors now,” […]

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Meta spent a year being punished for its AI spending. Then it told investors how it would get the money back.

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Meta has had a miserable year on the market, flat while the Nasdaq-100 climbed 18%. That changed abruptly, with the stock posting its best week since early 2024, CNBC reports. Shares rose about 6% on Friday and roughly 15% across the week. The move was not driven by advertising, the business that actually makes Meta’s money. […]

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The AI race has quietly stopped being about who has the biggest model

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For years the industry ran on one assumption, that the biggest model wins. That belief is now breaking down, CNBC reports. Companies are choosing models by task, cost, and control instead of benchmark position. The frontier still matters, but it is no longer the only thing being bought. The reason is unromantic. At enterprise scale, model […]

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AI bosses say demand is ‘almost unlimited’. The market is no longer taking their word for it.

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Executives building the AI boom are unwavering. Demand is effectively bottomless, they say, even as the stocks that ride on it wobble, CNBC reports. Pat Gelsinger, the former Intel chief now at Playground Global, put it plainly. He thinks of AI demand as almost unlimited, with energy availability “the only real limiter”. The order books support […]

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Most Americans now say the public should own half of the big AI companies

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An idea that sounded radical a year ago is now a majority position. Nearly seven in ten Americans support forcing AI companies to transfer half their stock to a public sovereign wealth fund, CNBC reports. The figure comes from a Verasight survey of 1,690 US adults, conducted in June. It found 69% backing for the policy. […]

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Musk says he always wanted SpaceX staff to get rich, and thousands just did

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Elon Musk says SpaceX’s blockbuster listing has probably made thousands of his employees millionaires. Asked on The Sean Hannity Show about a former welder whose stock topped $1m, he said the story was far from unique. “It’s not just one welder, it’s several thousand people who were working on the production line,” Musk said, adding […]

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Ollama raises $65M as its open-model runner hits nearly 9M developers

Artificial Intelligence, Business, Digital Marketing, Money, SEO Tips, Startups and technology, Technology, United States /

Ollama has raised a $65M Series B led by Theory Ventures. Benchmark, 8VC, Y Combinator and others joined. The round takes the company’s total funding to $88M, three years after it launched, and Ollama set out the plan in a blog post on Thursday. Founder and chief executive Jeff Morgan gave the details to TechCrunch, […]

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Tech billionaires pour $120M into killing California’s wealth tax

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Silicon Valley’s wealthiest are spending heavily to stop California’s proposed billionaire tax, according to a Business Insider tally of campaign filings. Opponents have poured more than $120m into sinking or blunting the measure, roughly four times the $31m raised by its union backers. Proposition 40 would impose a one-time 5% tax on residents and trusts worth over […]

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Chamath’s AI coding startup 8090 raises $135M, and he’s CEO

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Salesforce led the Series A, which 8090 announced this week. The pitch behind it is blunt. AI can already write code. The hard part is stopping enterprise software from falling apart as dozens of agents and engineers change it every week. TechCrunch first reported the round, and the company confirmed the details. The investor list […]

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Apple’s suppliers are racing to Hong Kong to fund their robot pivot

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Two of Apple’s biggest Chinese suppliers are racing to Hong Kong in the same week. Luxshare wants about $3bn, Lingyi just banked $1.1bn. Both are using the cash to pivot from smartphone parts to AI hardware and humanoid robots. The companies that build your AirPods are quietly raising a fortune. This week two of them […]

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