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06 Jul 2026

Anthropic seeks $15 billion Australian data centres deal ahead of trillion-dollar IPO

US AI startup Anthropic is racing to secure 1.4 gigawatts of Australian data centre capacity in a project valued at up to $15 billion. The company aims to make Australia its second home for training its Claude AI model, with initial capacity targeted by late 2027. Anthropic is simultaneously negotiating a copyright deal with the Australian government to enable legal AI model training.

2 Sources

TeraWulf signs $19 billion AI data center lease with Anthropic in major Bitcoin mining pivot

Bitcoin miner TeraWulf has secured a 20-year lease agreement with Anthropic worth $19 billion in contracted revenue, marking one of the industry's largest pivots from cryptocurrency mining to AI infrastructure. The deal covers a purpose-built AI data center campus in Kentucky, while TeraWulf sells its Texas joint venture stake to finance the transition.

8 Sources

ASML stock surges 123% as Bernstein raises price target to $2,623 on AI-driven semiconductor demand

Bernstein raises its ASML stock price target to $2,623, implying 48% upside, as AI demand drives unprecedented expansion in advanced logic and DRAM capacity. The firm forecasts EUV revenue will grow at 30% annually, reaching €42.7 billion by 2030, more than 30% above street estimates, positioning the semiconductor stock for continued gains.

2 Sources

AI energy consumption strains power grid as data center demand drives costs up for manufacturers

Data centers powering AI are consuming electricity at unprecedented rates, with global consumption hitting 565 TWh in 2026. US manufacturers in the Rust Belt are paying significantly higher electricity costs as data center demand strains the aging power grid. Some factories report energy bills jumping from $1,600 to $12,000 monthly, while steel companies face tens of millions in additional annual costs.

14 Sources

Michael Burry and Wall Street analysts warn AI bubble may burst as hyperscalers pile on debt

Michael Burry has placed short positions against Nvidia, Tesla, and other AI stocks, warning the AI market bubble mirrors the dot-com crash. Jefferies' Christopher Wood flags that hyperscalers like Microsoft, Meta, and Alphabet have issued $144 billion in bonds this year, raising concerns about massive capital destruction from debt-funded AI spending that may not deliver adequate returns.

5 Sources

Indian IT Firms Brace for Muted Q1 as AI Shift and Weak Demand Dampen Growth Expectations

India's $315 billion IT sector faces another subdued quarter as AI-driven pricing pressure and weak client spending weigh on growth. TCS kicks off earnings with a $2.6 billion AI deal pipeline, but the industry confronts margin contraction and project deferrals. The Nifty IT index has slumped 28% in 2026, wiping out over Rs 17 lakh crore in market value as investors question whether AI will support revenue or merely reduce costs for clients.

6 Sources

Indian Companies Shift to AI Readiness and Specialised Skills Over Mass Hiring

Indian organisations are prioritising AI readiness and specialised skills over large-scale workforce expansion, according to upGrad Rekrut's FY27 hiring report. The study of 11,418 HR leaders reveals that 8 in 10 companies hired below targets, with only 8% currently assessing AI literacy despite demand for AI talent expected to nearly double by 2027.

2 Sources

Consumer goods giants use AI to slash product development time from years to months

L'Oreal now creates products four times faster using AI to identify molecules for skincare and shampoo. Mondelez, Procter & Gamble, and Unilever are deploying artificial intelligence across labs to compress R&D cycles, generate recipes, and address supply chain vulnerabilities as they race to innovate faster.

2 Sources

AI startups hire 15% fewer juniors and 20% more seniors, Harvard study shows

A Harvard Business School and INSEAD study reveals AI-native startups are building leaner teams with 25% fewer employees overall, hiring 15% fewer entry-level workers while employing 20% more senior talent. The shift toward experienced, elite-educated engineers concentrated in Silicon Valley suggests AI is concentrating opportunity rather than democratizing it, raising concerns about widening inequality in the tech job market.

3 Sources

South Korea's Lee orders fast-tracking of $576B chip projects as Samsung and SK Hynix pledge mega AI investments

South Korean President Lee Jae Myung has ordered officials to accelerate massive chip and AI investment projects worth over $576 billion, warning that delays could cost the country its competitive edge. Samsung and SK Hynix are committing $522 billion combined to build new semiconductor facilities as intense global competition around AI heats up.

2 Sources

Samsung profit soars 19-fold to record $58.4bn as AI demand strains memory chip supply

Samsung Electronics projected a 19-fold surge in operating profit to $58.4bn for Q2 2026, its third consecutive record quarter. The memory chip maker benefits from acute supply shortages and soaring prices driven by AI infrastructure demand, though investor concerns about sustainability triggered a 6% share drop despite the earnings beat.

9 Sources

SK Hynix raises $26.5B in largest foreign US IPO as AI boom fuels memory chip demand

South Korean memory chip giant SK Hynix raised $26.5 billion in its US market debut, marking the largest foreign IPO in US history and surpassing Alibaba's 2014 record. The company sold 177.9 million American depositary shares at $149 each on Nasdaq, with demand seven times oversubscribed. Proceeds will fund new fabs in South Korea and EUV scanners to address the AI-driven memory shortage.

33 Sources

05 Jul 2026

AI-Driven RAM Crisis Threatens Budget Smartphones as Memory Costs Double and Shipments Plummet

Budget smartphone buyers face a challenging market as AI infrastructure demands drive memory costs to unprecedented levels. Omdia predicts a 22% decline in sub-$400 phone shipments through 2027, with memory now consuming nearly 60% of manufacturing costs. Chinese manufacturers are considering abandoning the budget segment entirely as razor-thin margins evaporate.

6 Sources

Hon Hai posts 40% quarterly revenue surge as AI server demand powers record growth

Taiwan's Hon Hai (Foxconn) reported a 40% jump in second-quarter revenue, beating analyst expectations with NT$2.513 trillion driven by surging AI server demand. The key Nvidia supplier expects AI rack shipments to maintain momentum through Q3, though the company cautioned about volatile geopolitics. June alone hit a record NT$821.8 billion as hyperscalers accelerate infrastructure buildouts.

3 Sources

04 Jul 2026

Macron and Modi personally court tech CEOs as France and India race to secure AI investment

French President Emmanuel Macron and Indian Prime Minister Narendra Modi are leading personal charm offensives to court tech CEOs as countries scramble to develop AI infrastructure. Macron texted SoftBank's Masayoshi Son to secure a €75 billion data center deal, while Modi met directly with Amazon CEO Andy Jassy to land $48 billion in commitments. The push comes as the U.S. and China remain dominant in AI, leaving other nations struggling to compete.

3 Sources

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