Karen Kwok

Releasing a ​model based on a hacking super-weapon raised alarm in ‌Washington, which responded with fatal export controls. Nervy allies have new reason to build non-US rivals and fret over chokepoint tech. The $965 bln ​lab’s IPO hopes risk falling into a regulatory Pandora’s ​box.

By Karen Kwok By Karen Kwok NEW YORK, July 15 (Reuters Breakingviews) - The financial plumbing firm and buyout shop Advent offered $53 bln to buy the payments processor.

President Gianni Infantino wants to sell a ‌stake in a new commercial arm at a $20 bln valuation to funds led by Joshua Kushner’s Thrive. It ​would be the culmination of a sports gold ​rush, but lumpy revenue, weak minority rights ⁠and political controversy muddle the soccer pitch.

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.