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Key Facts

Key PlayersBloomberg, JPMorgan, Citadel

AI AdoptionAdvanced

Use CasesFraud Detection, Algorithmic Trading, Risk Assessment

Top News

Kalshi builds forward curve for computing power as exchanges race to financialize AI infrastructure

Prediction market platform Kalshi has developed a forward curve tracking the future price of computing power, using weekly and monthly event contracts to predict GPU rental costs up to a year ahead. The move positions Kalshi alongside CME and ICE in the race to transform AI infrastructure into a tradable commodity, as GPU capacity becomes increasingly constrained and expensive.

Business2 sources

Kalshi builds forward curve for computing power as exchanges race to financialize AI infrastructure

Business2 sources

Jamie Dimon reveals AI eliminated 30-40% of jobs in some JPMorgan divisions during earnings call

JPMorgan CEO Jamie Dimon disclosed that AI has already eliminated 30 to 40 percent of jobs in certain bank divisions, though most affected employees found positions elsewhere. Despite these significant staffing reductions, competitive dynamics mean the cost savings will benefit customers rather than inflate profit margins, as every bank deploys similar AI capabilities.

Business5 sources

Jamie Dimon reveals AI eliminated 30-40% of jobs in some JPMorgan divisions during earnings call

Business5 sources

Goldman Sachs Posts Record Earnings as CEO Says AI Investment Boom Still in Early Innings

Goldman Sachs reported record quarterly earnings of $20.98 per share, crushing analyst expectations with net revenue of $20.34 billion—up 39% year over year. CEO David Solomon emphasized that the AI investment cycle remains in its early stages, driving unprecedented demand across infrastructure, energy, and data centers while creating opportunities throughout the bank's operations.

Business2 sources

Goldman Sachs Posts Record Earnings as CEO Says AI Investment Boom Still in Early Innings

Business2 sources

Visa launches AI Financial Assistant to transform banking apps into conversational hubs

Visa announced its AI Financial Assistant, a new service enabling financial institutions to deliver AI-powered financial insights directly within their banking apps. The assistant provides proactive spending insights, answers natural-language queries, and allows actions like locking cards—all under the bank's own brand. A U.S. pilot program launches in August 2026, with global rollout planned thereafter.

Technology3 sources

Visa launches AI Financial Assistant to transform banking apps into conversational hubs

Technology3 sources

AI Investment Boom Could Mirror Dotcom Bust as BIS Warns of $1 Trillion Spending Spree

The Bank for International Settlements warns that the AI investment boom could collapse into a financial bust, drawing parallels to the dotcom crash. Five major hyperscalers are set to spend over $1 trillion on AI infrastructure through 2026, but economic risks from debt-fueled expansion and circular financing threaten sustainability.

Business2 sources

AI Investment Boom Could Mirror Dotcom Bust as BIS Warns of $1 Trillion Spending Spree

Business2 sources

Morgan Stanley defends Broadcom as core AI winner amid MediaTek competition fears over Google TPU share

Morgan Stanley has defended Broadcom against investor concerns about rising competition, calling it a core AI winner second only to Nvidia. The firm projects Broadcom will retain roughly 80% of Google's tensor processing unit business despite MediaTek's entry, dismissing bearish forecasts as premature. Broadcom shares have dropped 22% from their June peak despite recent chip deals with Apple, Meta, and Google.

Business2 sources

Morgan Stanley defends Broadcom as core AI winner amid MediaTek competition fears over Google TPU share

Business2 sources

IBM Stock Plunges 25% as Customers Divert IT Spending to AI Infrastructure Ahead of Price Hikes

IBM shares suffered their worst single-day drop since 1972, falling 25%, after the company revealed customers redirected budgets from mainframes to servers and storage amid AI hardware panic. CEO Arvind Krishna admitted the company failed to anticipate the magnitude of the spending shift as clients rushed to secure supply-constrained infrastructure before expected price increases.

Business17 sources

IBM Stock Plunges 25% as Customers Divert IT Spending to AI Infrastructure Ahead of Price Hikes

Business17 sources

Flex doubles valuation to $1.2 billion as AI-native private bank expands globally

AI finance startup Flex raised $70 million in a Series B1 round led by Ryan Smith's Halo Fund, doubling its valuation to $1.2 billion in just six months. The AI-powered finance startup targets mid-sized business owners with a bundled platform that combines banking, private credit, and cross-border payments using stablecoin rails across more than 100 countries.

Startups2 sources

Flex doubles valuation to $1.2 billion as AI-native private bank expands globally

Startups2 sources

Tower Semiconductor bets $3B on Japan expansion as AI data centers drive optical chip demand

Tower Semiconductor unveiled a $3 billion Japan expansion targeting silicon photonics and optical components for AI data centers, with Tokyo contributing $1 billion in grants. The dual-track project aims for full production by Q4 2027, with the company raising its 2028 revenue forecast to $3.6 billion as more than 70% of planned capacity is already committed through customer contracts.

Business3 sources

Tower Semiconductor bets $3B on Japan expansion as AI data centers drive optical chip demand

Business3 sources

DeepSeek's Liang Wenfeng becomes richest AI founder with $36 billion fortune

Liang Wenfeng has overtaken Anthropic's Dario Amodei and OpenAI's Greg Brockman as the world's richest AI model creator. His net worth surged to $36 billion after DeepSeek's $7.4 billion funding round valued the company at $50 billion. What sets him apart is his 78% stake retention and unusual funding structure, where he personally invested $3 billion while maintaining voting control that Silicon Valley founders typically surrender.

Business4 sources

DeepSeek's Liang Wenfeng becomes richest AI founder with $36 billion fortune

Business4 sources

SoftBank's Masayoshi Son predicts AI will need $5 trillion yearly by 2040, dismisses bubble talk

SoftBank CEO Masayoshi Son declared that AI will need $5 trillion per year by 2040 and dismissed bubble concerns as absurd at the company's annual conference in Tokyo. With over $60 billion invested in OpenAI, Son outlined a future where AI-related industries constitute 20% of global GDP and 100 trillion autonomous AI agents reshape society into an agent-centric world.

Business11 sources

SoftBank's Masayoshi Son predicts AI will need $5 trillion yearly by 2040, dismisses bubble talk

Business11 sources

OpenAI strikes first prediction market deal with Kalshi to show World Cup odds in ChatGPT

OpenAI has quietly partnered with Kalshi to display World Cup prediction market odds in ChatGPT search results, marking the AI company's first deal with a betting exchange. The integration shows real-time odds for matches like France versus Spain, but users cannot place bets through ChatGPT. The move signals prediction markets' rapid push into mainstream tech platforms.

Technology4 sources

OpenAI strikes first prediction market deal with Kalshi to show World Cup odds in ChatGPT

Technology4 sources

South Korea raises 2026 GDP forecast to 3% as AI chip boom fuels semiconductor-led recovery

South Korea has raised its 2026 economic growth forecast to 3%, the strongest pace in five years, riding a global surge in AI chip demand. The government plans to fast-track mega projects covering semiconductor manufacturing, AI data centres and physical AI investments, backed by a 2027 budget exceeding 800 trillion won. The upgrade marks a sharp revision from the previous 2.0% forecast.

Business4 sources

South Korea raises 2026 GDP forecast to 3% as AI chip boom fuels semiconductor-led recovery

Business4 sources

Wall Street banks race to deploy AI agents as 51% now pilot digital assistants for productivity

Major financial institutions are accelerating their adoption of agentic AI systems, with over half of banks now piloting digital assistants that work alongside human employees. Morgan Stanley plans to test client-facing agents this summer, while UBS reports advisors now spend 70% of their time with clients instead of on routine tasks. The technology is transforming functions from wealth management to trading, though regulatory concerns about oversight and accountability remain.

Technology2 sources

Wall Street banks race to deploy AI agents as 51% now pilot digital assistants for productivity

Technology2 sources

AI Costs Surge as Vendors Shift to Usage-Based Pricing, Leaving Companies Scrambling

Major AI vendors including OpenAI, Anthropic, and GitHub are abandoning flat-rate subscriptions for usage-based pricing, pushing infrastructure costs onto customers. Forrester warns 80% of decision-makers expect software budgets to rise, while KPMG finds a third of executives struggle to understand their AI bills. The shift introduces unprecedented unpredictability in costs as companies pay per token rather than per seat.

Business5 sources

AI Costs Surge as Vendors Shift to Usage-Based Pricing, Leaving Companies Scrambling

Business5 sources

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