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European Insurer Stocks Tumble as AI-Powered Tool Triggers Selloff Across Insurance Sector

European insurance stocks fell sharply on Tuesday following a steep selloff in US insurance brokers after Insurify launched an AI-powered comparison tool built on ChatGPT. Major brokers like Willis Towers Watson, Aon, and Arthur J. Gallagher saw shares plunge 9-12% on Monday, triggering investor concerns about accelerating disruption within the insurance sector and sparking a broader market downturn.

Business2 sources

European Insurer Stocks Tumble as AI-Powered Tool Triggers Selloff Across Insurance Sector

Business2 sources

Databricks CEO says AI will make SaaS irrelevant as natural language replaces user interfaces

Databricks CEO Ali Ghodsi argues that AI won't kill SaaS companies, but it will make their traditional interfaces obsolete. As his company hits a $5.4 billion revenue run-rate with 80% of databases now built by AI agents, Ghodsi warns that millions of SaaS specialists trained on complex user interfaces face an uncertain future as natural language becomes the new interface.

Technology3 sources

Databricks CEO says AI will make SaaS irrelevant as natural language replaces user interfaces

Technology3 sources

Big Tech's $660 Billion AI Boom Gamble: Why Amazon and Meta Are Spending More Than They Earn

Amazon, Meta, and Alphabet are spending more than they generate in operating cash flow for the first time, pouring $660 billion into AI infrastructure. The companies are borrowing hundreds of billions and draining cash reserves to build data centers and chips, abandoning their asset-light business model in a high-stakes bet that AI demand will justify the costs.

Business2 sources

Big Tech's $660 Billion AI Boom Gamble: Why Amazon and Meta Are Spending More Than They Earn

Business2 sources

Elon Musk merges SpaceX with xAI to build AI data centers in space, creating $1.25 trillion entity

Elon Musk announced the merger of SpaceX and xAI, creating a $1.25 trillion tech conglomerate that aims to launch satellite data centers in space. The deal values SpaceX at $1 trillion and xAI at $250 billion, with an IPO expected in June. While Musk claims space-based AI compute will become the lowest-cost option within two to three years, experts question the technological feasibility and timeline of launching up to a million satellites to serve as orbital data centers.

Business4 sources

Elon Musk merges SpaceX with xAI to build AI data centers in space, creating $1.25 trillion entity

Business4 sources

Anthropic raises $30 billion in Series G, doubling valuation to $380 billion as AI race heats up

Anthropic has closed a massive $30 billion Series G funding round, more than doubling its valuation to $380 billion. The artificial intelligence startup, backed by GIC and Coatue, is accelerating its competition with OpenAI while its Claude Code model drives enterprise adoption. With a revenue run rate now at $14 billion and growing 10x annually, Anthropic faces mounting questions about profitability amid heavy infrastructure spending.

Startups33 sources

Anthropic raises $30 billion in Series G, doubling valuation to $380 billion as AI race heats up

Startups33 sources

Atlassian maintains margins with 5M Rovo users as CEO defends AI strategy amid stock decline

Atlassian CEO Mike Cannon-Brookes told investors the company can scale its Rovo agentic AI offering to five million users without inflating AI costs or hurting margins. Despite shares falling 70% over twelve months and $826 million in quarterly R&D spending, the CEO insists AI strengthens rather than threatens the collaborationware giant's business model.

Business2 sources

Atlassian maintains margins with 5M Rovo users as CEO defends AI strategy amid stock decline

Business2 sources

AI disruption risk reshapes stock market as software stocks tumble while hardware firms surge

The stock market is experiencing a dramatic split as AI developments separate winners from losers. Software stocks have plummeted 15% since late January, with investors shorting companies vulnerable to AI disruption. Meanwhile, hardware firms and chipmakers are surging on massive capital spending commitments. The shift reveals growing investor concern over AI's ability to upend traditional business models across industries from legal services to wealth management.

Business21 sources

AI disruption risk reshapes stock market as software stocks tumble while hardware firms surge

Business21 sources

Forgent Power hits $8 billion valuation in NYSE debut as AI infrastructure demand accelerates

Forgent Power debuted on the New York Stock Exchange with a nearly $8 billion valuation, signaling strong investor appetite for AI infrastructure despite market concerns. The company designs electrical distribution equipment for data centers and raised $1.51 billion through its IPO, pricing 56 million shares at $27 each amid significant market volatility.

Business2 sources

Forgent Power hits $8 billion valuation in NYSE debut as AI infrastructure demand accelerates

Business2 sources

Anthropic releases Claude Opus 4.6 as AI model advances rattle software stocks and cybersecurity

Anthropic unveiled Claude Opus 4.6, its most capable AI model yet, with significant improvements in coding, financial analysis, and vulnerability detection. The release found 500+ high-severity flaws in open-source libraries and triggered market concerns about traditional software companies. The upgrade handles complex enterprise workflows with broader autonomy and includes new features like agent teams and PowerPoint integration.

Technology23 sources

Anthropic releases Claude Opus 4.6 as AI model advances rattle software stocks and cybersecurity

Technology23 sources

Goodfire Raises $150 Million at $1.25 Billion Valuation to Decode AI Models and Improve Safety

Goodfire has raised $150 million in Series B funding at a $1.25 billion valuation to advance AI interpretability research. The startup creates interpreter models to decode neural networks and understand how AI models make decisions. CEO Eric Ho warns the industry is moving too fast without understanding the technology it's deploying.

Technology4 sources

Goodfire Raises $150 Million at $1.25 Billion Valuation to Decode AI Models and Improve Safety

Technology4 sources

AI Slump Wipes $62 Billion from Tech Billionaires as Software Stocks Crater

Software billionaires have lost at least $62 billion this year as fears surrounding artificial intelligence trigger a massive selloff. Larry Ellison dropped nearly $40 billion while AppLovin's CEO Adam Foroughi saw his fortune plunge from $27 billion to $17.3 billion. The crash accelerated after Anthropic released an AI tool that automates legal work, sparking $285 billion in market losses.

Business3 sources

AI Slump Wipes $62 Billion from Tech Billionaires as Software Stocks Crater

Business3 sources

Cerebras Systems raises $1B at $23B valuation as Benchmark doubles down with $225M investment

AI chipmaker Cerebras Systems secured $1 billion in fresh capital at a $23 billion valuation, nearly tripling its worth in just four months. The funding round, led by Tiger Global, included a massive $225 million commitment from early backer Benchmark Capital, which created special infrastructure funds specifically for the investment. The raise positions Cerebras to compete more aggressively with Nvidia following its recent $10 billion OpenAI partnership.

Business7 sources

Cerebras Systems raises $1B at $23B valuation as Benchmark doubles down with $225M investment

Business7 sources

Resolve AI Secures $125M Series A at Unicorn Valuation to Automate System Reliability Engineering

Resolve AI has raised $125 million in Series A funding at a $1 billion valuation, led by Lightspeed Venture Partners. The startup deploys AI agents to automate system reliability engineering, helping companies like Salesforce and Coinbase reduce incident investigation time by 72% and cut engineers required per incident by 30%.

Startups4 sources

Resolve AI Secures $125M Series A at Unicorn Valuation to Automate System Reliability Engineering

Startups4 sources

ElevenLabs raises $500M at $11 billion valuation, more than tripling value in one year

Voice AI company ElevenLabs has secured $500 million in a funding round led by Sequoia Capital, pushing its valuation to $11 billion—more than three times its $3.3 billion valuation from January 2025. The London-based startup closed 2025 with over $330 million in annual recurring revenue and plans to expand beyond voice into AI agents that can talk, type, and take action while pursuing an IPO.

Startups11 sources

ElevenLabs raises $500M at $11 billion valuation, more than tripling value in one year

Startups11 sources

ChatGPT ads arrive for free users as OpenAI tests new revenue model amid industry scrutiny

OpenAI has begun testing ads in ChatGPT for free and Go subscription users in the US, marking a major shift in its business model. The move drew immediate criticism from rival Anthropic, which aired Super Bowl commercials mocking AI advertising. While OpenAI promises ads won't influence responses or compromise privacy, consumer research shows 83% of users will tolerate ads for free access.

Technology34 sources

ChatGPT ads arrive for free users as OpenAI tests new revenue model amid industry scrutiny

Technology34 sources

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