Karen Kwok

Microsoft and Meta are among the giants ‌spending $700 bln on data centers, roughly matching chipmaker free cash flow. Cloud services grow rapidly, but hardware reaps ​the benefit of capacity constraints. Investors will fear ​overinvestment until AI products deliver durable growth.

Public ​AI models released by ⁠Chinese startups ​like Moonshot lag ​just four months behind top proprietary systems from ​OpenAI. That ​boosts their appeal for governments ‌and ⁠firms spooked by the risk of Washington restrictions. ​Yet buyers ​still ⁠need US tech for ​the hardest tasks.

Nvidia's boss gathered ​Apollo, Goldman and others ​to help finance buyers of ⁠his company's GPUs. He ​is channeling the auto-loan ​market by using computing power as collateral as other funding sources ​thin. The chipmaker takes ​the driver's seat, with investors along ‌for ⁠the ride.

The AI lab is ​in talks to buy ​Decart for $6 bln. The ⁠startup’s chip-efficiency tech, if ​it improves the cost ​of serving queries, could be a boon ahead of an IPO. ​Unlike rivals’ splashy ​deals aimed at nabbing customers, boss ‌Dario ⁠Amodei has the luxury of focusing on economics.

Silver ​Lake’s interest in ​HR app Workday may ⁠boost confidence in beleaguered ​SaaS peddlers. Corporate ​inertia, security dangers and scaling costs make AI-assisted home-grown ​solutions risky. More ​deals may be on the ‌horizon ⁠for cheap, cash-rich companies.

The chipmaker’s partnership with the search giant might snag ​an extra $120 bln in sales. ​It also bolsters Nvidia boss ⁠Jensen Huang’s call that the ​company will join the 13-digit ​club. Yet even with the latest endorsement, there’s a long way left to ​that lofty goal.

The chipmaker’s hot streak persists, with ​revenue doubling to $96 ​bln. Yet investors value its ⁠immense cash flow at ​a discount. Customer backstops are ​a rising risk but wouldn’t consume the current gusher. If those ​promises are called, though, ​it’s likely to accompany a slowdown.

Oura’s in-vogue health trackers are driving 74% revenue ​growth as it pursues ​a listing. Hardware hiccups and ⁠competition with the likes of ​Apple may slow that pace. ​A $16 bln valuation is in reach, but it’s one befitting a gadget ​maker more than a ​high-flying digital platform.

An Australian health ‌portal is the latest victim of a hacking attack by an OpenAI agent. The US company's ​slow disclosure adds to the concerns. ​Rules for reporting cyber breaches are voluntary ⁠and self-policed. As AI systems create serious ​public risks, that's inadequate.

The Claude maker posted big growth and a 40% gross margin ​last year, but also an $8 ​bln operating loss. Its 2026 figures ⁠will groan further under huge ​spending promises to feed demand. Even ​next to recently launched frenemy SpaceX, CEO Dario Amodei’s valuation target looks steep.