Business

Today’s best in business and economy, explore the moves and trends shaping industries today.

Demis Hassabis warns AI bubble concerns overblown but flags unsustainable startup funding levels

Elon Musk races to take SpaceX public by July to fund orbital AI data centers in space

Nvidia invests $2 billion in CoreWeave to build AI factories and expand data center capacity

AI job cuts hit Britain hardest with 8% net losses as worker anxiety climbs to 27%

Demis Hassabis warns AI bubble concerns overblown but flags unsustainable startup funding levels

Google DeepMind CEO Demis Hassabis told the Financial Times that while the artificial intelligence industry isn't in a bubble, certain pockets show clear signs of excess. He specifically called out multi-billion-dollar seed rounds for early-stage AI companies without proven products as unsustainable, suggesting market corrections may be ahead.

2 Sources

Elon Musk races to take SpaceX public by July to fund orbital AI data centers in space

Elon Musk is reportedly preparing a SpaceX IPO by July to raise billions for AI data centers in space, marking a dramatic shift from his long-held position against going public before reaching Mars. The move aims to help xAI compete with OpenAI and Google while addressing the massive power demands of artificial intelligence infrastructure.

4 Sources

Nvidia invests $2 billion in CoreWeave to build AI factories and expand data center capacity

AI job cuts hit Britain hardest with 8% net losses as worker anxiety climbs to 27%

Jensen Huang says AI infrastructure buildout will create more jobs for skilled trades workers

SoftBank halts $50 billion Switch Inc. data center deal, threatening Stargate AI ambitions

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Follow updates sorted by the date they surfaced.

Today

Nvidia invests $2 billion in CoreWeave to build AI factories and expand data center capacity

Nvidia has invested $2 billion in cloud computing provider CoreWeave, purchasing shares at $87.20 each as part of an expanded partnership to build over 5 gigawatts of AI computing infrastructure by 2030. CoreWeave stock surged 10% following the announcement, reflecting investor confidence in the AI infrastructure buildout that Jensen Huang calls the largest in human history.

5 Sources

SoftBank halts $50 billion Switch Inc. data center deal, threatening Stargate AI ambitions

SoftBank has abandoned plans to acquire U.S. data center operator Switch Inc. for around $50 billion, dealing a blow to founder Masayoshi Son's vision for the $500 billion Stargate AI infrastructure project. While a full acquisition is off the table, the companies remain in talks about a partial investment or partnership as Son seeks to secure computing power for OpenAI.

3 Sources

Synthesia AI Startup Nearly Doubles Valuation to $4 Billion with $200M Series E Funding

British AI startup Synthesia has raised $200 million in Series E funding, nearly doubling its valuation to $4 billion from $2.1 billion a year ago. The London-based company, which creates AI-generated avatars for corporate training videos, crossed $100 million in annual recurring revenue in April 2025. Led by Google Ventures, the funding round includes participation from NVentures, Accel, and other existing investors, while Synthesia facilitates an employee secondary sale through Nasdaq.

6 Sources

AI job cuts hit Britain hardest with 8% net losses as worker anxiety climbs to 27%

Britain is experiencing AI job cuts at twice the international average, with an 8% net loss over 12 months according to Morgan Stanley research. While artificial intelligence delivers 11.5% productivity gains, over a quarter of UK workers now fear losing their jobs to AI in the next five years. The impact hits hardest on young workers and white-collar roles as the UK labor market faces mounting pressure from automation and rising employment costs.

2 Sources

Yesterday

Demis Hassabis warns AI bubble concerns overblown but flags unsustainable startup funding levels

Google DeepMind CEO Demis Hassabis told the Financial Times that while the artificial intelligence industry isn't in a bubble, certain pockets show clear signs of excess. He specifically called out multi-billion-dollar seed rounds for early-stage AI companies without proven products as unsustainable, suggesting market corrections may be ahead.

2 Sources

Gallup Poll Reveals 12% of American Workers Use AI Daily as Adoption Accelerates Across Sectors

A new Gallup Workforce survey of over 22,000 U.S. workers shows AI at work has grown rapidly, with 12% of employed adults using AI daily and one-quarter using it at least a few times weekly. The poll reveals AI adoption remains highest in technology, finance, and education sectors, though nearly half of all workers now use AI tools at least a few times yearly—up from just 21% in 2023.

6 Sources

24 Jan 2026

AI Jobs Debate Dominates Davos as Business Leaders Clash with Labor Unions Over Impact

At the World Economic Forum in Davos, business leaders including Nvidia's Jensen Huang championed artificial intelligence as a job creator, citing infrastructure and chips industry expansion. But labor unions and skeptics warned of job displacement, with only one in eight CEOs seeing cost reductions. The debate highlights AI's uncertain economic impact.

3 Sources

23 Jan 2026

IMF chief warns AI tsunami will eliminate entry-level jobs and squeeze 60% of workforce

International Monetary Fund Managing Director Kristalina Georgieva warned at Davos that AI will affect 60% of jobs in advanced economies, with young workers facing the harshest impact as entry-level roles disappear. While some positions will see productivity boosts and higher wages, the middle class risks being squeezed as the technology transforms the labor market faster than regulators can respond.

3 Sources

Google Invests in Sakana AI to Boost Gemini's Presence in Japan's Enterprise Market

Google has invested in Japanese AI startup Sakana AI to strengthen Gemini chatbot's position in Japan, where it trails OpenAI's ChatGPT. The partnership allows Sakana AI to leverage Google's language models while helping Gemini penetrate Japan's corporate landscape. Founded in 2023 and valued at $2.6 billion, Sakana AI has already secured contracts with major Japanese banks and is expanding into government and defense sectors.

2 Sources

AMD stock surges on AI partnerships, data center momentum, and mass-market AI PC push

Advanced Micro Devices shares climbed 3.73% to $263.20 as investors responded to expanding AI partnerships and accelerating data center demand. OpenAI plans to deploy AMD GPUs for up to 6 gigawatts of computing capacity, while Oracle will build AI superclusters using 50,000 Instinct MI450 GPUs. The company is also targeting mass-market AI PCs with Dell and HP launching systems starting at $499 in early 2026.

2 Sources

OpenAI taps Barret Zoph to lead enterprise AI sales as market share drops to 27%

OpenAI has appointed Barret Zoph to spearhead its enterprise AI sales efforts as the company faces declining market share in the business sector. Despite launching ChatGPT Enterprise before rivals, OpenAI's market share fell from 50% in 2023 to 27% by end of 2025, while Anthropic surged to 40% and Google Gemini held steady at 21%.

2 Sources

Tesla drops Autopilot and one-time purchase as FSD shifts to $99 monthly subscription model

Tesla has discontinued its basic Autopilot system in the US and Canada, pushing customers toward a subscription-based model for Full Self-Driving (Supervised). The company will eliminate the $8,000 one-time purchase option on February 14, requiring new buyers to pay $99 per month. CEO Elon Musk confirmed the subscription price will increase as capabilities improve, though he provided no timeline for when unsupervised driving will be available.

4 Sources

TikTok deal finalizes as ByteDance divests US operations to American investors

After years of legal battles and national security concerns, TikTok has closed a deal splitting its US operations from its global business. Oracle, Silver Lake, and MGX now control 45% of TikTok US through a new joint venture, while ByteDance retains a minority stake. The agreement raises questions about user data privacy and algorithm changes that could affect 200 million American users.

3 Sources

Intel prioritizes Xeon processors over PC chips as AI demand strains foundry capacity

Intel is reallocating manufacturing resources from consumer processors to data center chips as unexpected AI infrastructure demand creates supply bottlenecks. The company admits hyperscaler customers caught it off guard with surging orders, forcing difficult choices that could impact PC availability and pricing through early 2026.

7 Sources

Yelp acquires AI lead management startup Hatch for $300M to accelerate transformation

Yelp announced it will acquire Hatch, an AI-powered lead management platform, for up to $300 million. The deal combines Yelp's scale with Hatch's conversational AI agents to help service businesses automate customer communication across SMS, email, and voice channels, marking a significant step in Yelp's AI transformation strategy.

2 Sources

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