Homechevron_rightArchiveschevron_rightBusiness and Economy

Archives

Explore Stories by Date

04 Aug 2026

Anthropic Signs $10 Billion Deal With Seven-Month-Old AI Cloud Startup Volta

AI cloud startup Volta, valued at $2.4 billion and barely seven months old, has secured a $10 billion, six-year compute deal with Anthropic. Backed by Nvidia and Michael Dell, Volta will deliver AI infrastructure through a 133-megawatt Norway facility built with crypto miner Bitdeer, marking one of the largest AI partnerships for a newly launched company.

13 Sources

Spotify Profits Take Hit as Company Doubles Down on AI Investments Despite 300M Paid Subscribers

Spotify reported lower-than-expected profits as operating expenses surged 19% due to AI investments and marketing spend. The streaming giant now has 300 million paid subscribers and 777 million monthly active users, but its stock fell 8% as investors question whether AI features can justify mounting costs.

5 Sources

AI Boom Propels S&P 500 to 47% Earnings Growth, But One-Time Gains Tell a Different Story

The S&P 500 posted explosive 47% earnings growth in Q2 2026, driven by the AI boom and Big Tech investments in Anthropic and OpenAI. But when stripping out one-time investment gains from Amazon and Alphabet, the actual growth rate drops to 29%, revealing how AI-related equity stakes are distorting the corporate earnings picture.

3 Sources

Singapore Manufacturing Extends 12-Month Growth Streak as AI Demand Fuels Semiconductor Boom

Singapore's manufacturing sector posted its 12th consecutive month of expansion in July, with the Purchasing Managers Index rising to 51.4. The growth is driven by surging AI demand for semiconductors and electronics, though Middle East tensions threaten supply chains and push input prices higher.

2 Sources

Google Builds $200bn AI Chips Infrastructure With Broadcom, Apollo & Blackstone to Power Anthropic

Google has assembled one of the largest infrastructure financing programmes in history—worth roughly $200 billion—to sell Tensor Processing Units to Anthropic. The effort brings together Broadcom, Apollo, Blackstone, and Morgan Stanley in a web of transactions spanning chip manufacturing to data centre development, potentially unlocking $252 billion in TPU revenue by 2028.

2 Sources

Snap CEO Evan Spiegel: AI Glasses Mass Adoption Years Away Despite Strong Q2 Revenue Growth

Snap beat Q2 revenue expectations with $1.6 billion, up 19% year-over-year, as CEO Evan Spiegel positioned the company's $2,195 augmented reality glasses as its biggest bet on the future. Despite unveiling SPECS in September, mass market adoption won't arrive until the end of the decade as Snap pursues an AI-powered computing platform designed to reduce screen time.

2 Sources

SoftBank's $60 Billion AI Bet on OpenAI Faces Critical Debt Reckoning as Earnings Reveal Funding Gap

SoftBank reported an 18% profit decline to $2.2 billion in Q1 2026, beating analyst expectations despite mounting concerns over its $60 billion OpenAI commitment. With $30 billion in debt maturing in H2 2026 and a stalled plan to borrow against its OpenAI stake, the Japanese conglomerate's aggressive AI strategy now confronts a critical funding test.

8 Sources

Grab's AI-Driven Growth: CFO Reports 3x Faster Shipping as Company Raises 2026 Financial Performance Outlook

Southeast Asia's leading ride-hailing and delivery firm Grab raised its full-year revenue and profit forecasts after AI helped ship products three times faster and cut nearly 40,000 hours of sales inefficiencies. The company reported second-quarter revenue of $997 million, up 22% year-over-year, while EBITDA margins expanded to 16.9% from 13.3%.

4 Sources

EXL Completes $310M iMerit Acquisition to Accelerate Enterprise AI Leadership

ExlService Holdings completed its $310 million acquisition of iMerit, a leader in AI model training and evaluation. The deal combines EXL's enterprise data expertise with iMerit's generative AI capabilities and foundation model relationships. iMerit founder Radha Ramaswami Basu joins EXL's executive committee as the company builds an end-to-end AI platform for regulated industries.

3 Sources

ON Semiconductor Expects AI Data Center Revenue to Double in 2026 as Q2 Earnings Beat Estimates

ON Semiconductor reported second-quarter revenue of $1.6 billion, surpassing analyst expectations as demand for power management chips in AI data centers accelerated. CEO Hassane El-Khoury revealed the company prioritized AI data center customers over automotive clients, shifting manufacturing capacity to meet surging demand for intelligent power solutions.

5 Sources

Palantir Raises Revenue Forecast as AI Software Demand Drives 93% Growth in Q2 2026

Palantir lifted its annual revenue forecast to $8.15 billion after reporting 93% revenue growth in Q2 2026, driven by surging demand for its AI software. US commercial sales jumped 149% to $764 million as enterprises prioritize data sovereignty over reliance on frontier AI labs like OpenAI, Google, and Anthropic.

26 Sources

AI Labs Face High Turnover as Elite Researchers Chase Money, Compute, and Mission

Anthropic's Dario Amodei expressed concern that new hires join for compensation rather than mission, sparking debate across the industry. Elite AI researchers continue moving between OpenAI, Google, Meta, and Anthropic despite massive pay packages, revealing that money alone cannot secure lasting loyalty in the talent war for AI's future.

2 Sources

03 Aug 2026

Amazon Joins $3 Trillion Club as AI Demand Powers AWS to Fastest Growth in Four Years

Amazon market capitalization surpassed $3 trillion for the first time, fueled by artificial intelligence optimism and Amazon Web Services revenue hitting $42.2 billion with 37% growth. CEO Andy Jassy raised capital expenditure projections to $220 billion as AI demand outpaces capacity.

7 Sources

Index Ventures Raises $2bn for AI Boom as Co-Founder Warns of Wealth Redistribution Ahead

Index Ventures secured $2bn in fresh capital, expanding its war chest to $3.5bn with most funds targeting AI investments. The London-based firm backs Anthropic, Mistral, and Fireworks AI. Yet co-founder Neil Rimer warns AI-driven wealth will require redistribution, either voluntarily now or through forced correction later.

2 Sources

ChatGPT Captures 88% of Congress AI Spending as Lawmakers Shape Industry's Future

OpenAI's ChatGPT dominated Congress AI spending with $100,580 across 798 transactions in the year ending March 2026, accounting for 88% of identifiable AI tool purchases. Democratic offices spent three times more than Republicans, raising questions about vendor influence as lawmakers prepare to regulate the industry they're increasingly dependent on.

6 Sources

Get all updates into your inbox 💌, Stay Up-to-date for Free 🥳

Don’t drown in AI news. We cut through the noise - filtering, ranking and summarizing the most important AI news, breakthroughs and research daily. Follow topics that matter to you and stay ahead.

Explore

News Categories

Technology Business Policy Startups Health Science Entertainment

Terms Privacy Content Contact Us