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BlackRock's Larry Fink warns AI boom risks exacerbating wealth inequality for millions

BlackRock CEO Larry Fink used his annual shareholder letter to warn that AI threatens to intensify wealth inequality, with gains concentrated among companies and investors who financed the industry's growth. The $14 trillion asset manager chief called for broader participation in capital markets to ensure more people share in AI's economic value.

Business3 sources

BlackRock's Larry Fink warns AI boom risks exacerbating wealth inequality for millions

Business3 sources

Micron Technology beats estimates as AI boom fuels unprecedented demand for memory chips

Micron Technology delivered a stunning forecast, projecting third-quarter revenue of $33.5 billion—far exceeding Wall Street's $24.29 billion estimate. The chipmaker's second-quarter revenue nearly tripled to $23.86 billion as surging demand for memory chips used in artificial intelligence hardware drives an unprecedented market shift. However, shares dipped 4% after the company raised its capital expenditure to over $25 billion.

Business4 sources

Micron Technology beats estimates as AI boom fuels unprecedented demand for memory chips

Business4 sources

Data Centers Hit Power Grid Limits as Tech Giants Turn to Off-Grid Natural Gas Solutions

U.S. data center development is slowing as power grid capacity reaches its limits, forcing tech companies to adopt alternative power solutions. By the end of 2025, 39% of gas power capacity in development was designed to serve data centers on-site, up from just 5% in 2024. The shift highlights growing tensions between AI's massive energy requirements and aging electrical infrastructure.

Business2 sources

Data Centers Hit Power Grid Limits as Tech Giants Turn to Off-Grid Natural Gas Solutions

Business2 sources

Amazon CEO Andy Jassy doubles AWS sales projections to $600 billion by 2036 driven by AI boom

Amazon CEO Andy Jassy announced that artificial intelligence could propel AWS to $600 billion in annual sales by 2036, doubling his previous $300 billion estimate. The forecast came during an internal all-hands meeting where Jassy defended the company's $200 billion capital expenditure plan for AI data centers, citing strong demand signals despite investor concerns about the aggressive spending.

Business5 sources

Amazon CEO Andy Jassy doubles AWS sales projections to $600 billion by 2036 driven by AI boom

Business5 sources

SK Hynix warns memory shortage could persist until 2030 as AI demand strains wafer supply

SK Group Chairman Chey Tae-won said the global chip wafer shortage will likely last until 2030, far longer than earlier projections. The major DRAM supplier cited artificial intelligence's massive appetite for High Bandwidth Memory as the key driver, with the company expecting more than a 20% shortage of wafers and working on strategies to stabilize DRAM chip prices.

Business3 sources

SK Hynix warns memory shortage could persist until 2030 as AI demand strains wafer supply

Business3 sources

Meta plans to cut 20% of workforce as AI spending reaches $600 billion, mirroring broader tech trend

Meta is preparing to slash up to 20% of its nearly 79,000-person workforce as the company ramps up artificial intelligence infrastructure investments. Top executives have signaled plans to senior leaders, citing efficiency gains from AI-assisted workers. The cuts would mark Meta's largest since 2022-2023, when it laid off 21,000 employees during its "year of efficiency."

Business18 sources

Meta plans to cut 20% of workforce as AI spending reaches $600 billion, mirroring broader tech trend

Business18 sources

Microsoft and Meta fuel $700 billion surge in data center leases as AI spending accelerates

Microsoft Corp. and Meta Platforms Inc. each committed nearly $50 billion in additional data center leases in their most recent quarters, driving total commitments among major cloud computing companies above $700 billion. The escalating investment in artificial intelligence infrastructure signals tech giants' intensifying bet on AI's future, with obligations climbing steadily as companies race to secure server capacity.

Business2 sources

Microsoft and Meta fuel $700 billion surge in data center leases as AI spending accelerates

Business2 sources

North Lincolnshire approves £10bn AI data centre despite climate emissions warnings

North Lincolnshire Council has unanimously approved Elsham Tech Park, one of the UK's largest AI data centre campuses, promising £10bn in investment and 900 highly skilled long-term jobs. However, campaigners warn the facility could generate emissions approaching those from all UK domestic flights, with projected peak annual emissions reaching 1 million tonnes of CO2 equivalent by 2033-34.

Business2 sources

North Lincolnshire approves £10bn AI data centre despite climate emissions warnings

Business2 sources

AI Hyperscalers' Massive Borrowing Boom Raises Shadow Debt Concerns as Companies Chase AI Goals

Tech giants Amazon, Alphabet, and Meta are fueling an unprecedented borrowing boom to fund AI infrastructure, with Amazon alone raising $37 billion through bond sales. But the Bank for International Settlements warns that off-balance sheet arrangements amount to shadow borrowing that could expose lenders to refinancing pressures and credit risk.

Business9 sources

AI Hyperscalers' Massive Borrowing Boom Raises Shadow Debt Concerns as Companies Chase AI Goals

Business9 sources

Applied Materials partners with Micron and SK Hynix to develop AI memory chips at $5B facility

Applied Materials has formed partnerships with Micron Technology and SK Hynix to accelerate development of next-generation memory chips for AI systems. The collaborations will take place at Applied's $5 billion EPIC Center, focusing on DRAM, HBM, and NAND technologies as Big Tech firms prepare to spend at least $630 billion on AI infrastructure this year.

Technology5 sources

Applied Materials partners with Micron and SK Hynix to develop AI memory chips at $5B facility

Technology5 sources

Eridu emerges from stealth with $200M Series A to solve AI networking bottlenecks

Veteran entrepreneur Drew Perkins is back with Eridu, an AI networking startup that just raised an oversubscribed $200 million Series A round. The company promises to break through the network wall holding back AI with a redesigned switch architecture that could scale GPU clusters to millions of units while cutting costs by up to 40 percent.

Startups3 sources

Eridu emerges from stealth with $200M Series A to solve AI networking bottlenecks

Startups3 sources

AI Crunch Pushes Laptop Prices Up 40% as Memory and Storage Costs Spiral Out of Control

The AI boom is triggering a severe component shortage that could push laptop prices up by 40%, with mainstream $900 models potentially hitting $1,260. Memory and storage chips are in critical short supply as manufacturers prioritize lucrative AI server components over consumer devices. Chromebooks face the steepest decline with shipments expected to drop 28% this year.

Business2 sources

AI Crunch Pushes Laptop Prices Up 40% as Memory and Storage Costs Spiral Out of Control

Business2 sources

TSMC posts 30% sales growth as AI demand drives semiconductor boom despite geopolitical risks

Taiwan Semiconductor Manufacturing Co. reported revenue of $22.6 billion for January-February 2026, marking 30% sales growth fueled by sustained global demand for AI hardware. The world's largest contract chipmaker continues aggressive expansion with a new Tainan fabrication plant despite emerging concerns over data center spending and Middle East conflict.

Business3 sources

TSMC posts 30% sales growth as AI demand drives semiconductor boom despite geopolitical risks

Business3 sources

Polarise plans 30-megawatt AI data centre to double Germany's sovereign computing capacity

German start-up Polarise announced plans to build a 30-megawatt AI data centre in Bavaria by mid-2027, potentially doubling Germany's domestically-run computing capacity. The facility addresses European efforts to gain sovereign control over critical tech infrastructure amid global tensions. With costs in the triple-digit million euro range and renewable energy integration, the project highlights the strategic push for technological independence.

Business2 sources

Polarise plans 30-megawatt AI data centre to double Germany's sovereign computing capacity

Business2 sources

HPE projects revenue above estimates as AI hardware demand drives $5 billion server backlog

Hewlett Packard Enterprise forecast second-quarter revenue between $9.6 billion and $10 billion, exceeding Wall Street estimates of $9.57 billion. The company is capitalizing on surging demand for AI-powered servers equipped with Nvidia chips, while navigating memory chip shortages by raising prices and prioritizing high-margin enterprise customers over some mobile service providers.

Business3 sources

HPE projects revenue above estimates as AI hardware demand drives $5 billion server backlog

Business3 sources

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