A sell-off that erased nearly $900 billion from the market value of major technology companies, driven by renewed investor worries about the cost of artificial intelligence, was the dominant event. At the same time, a series of funding rounds, corporate tie-ups and regulatory inquiries showed the AI industry's expansion continues, with government money and antitrust scrutiny both on the rise.
AI spending fears trigger market rout
Bloomberg reported that Google's debt-risk gauge rose after its earnings revived AI debt jitters. The Financial Times and Reuters added that big technology companies lost nearly $900 billion in combined market value and European shares also fell as investors worried about soaring AI spending.
Reported by Bloomberg
Reported by Financial Times
Reported by Reuters
Canadian government invests in Cohere
Cohere, an AI company, opened a $4.5 billion funding round that secured commitments from the Canadian government, Nvidia and other investors, Bloomberg, Reuters and the Wall Street Journal reported. Ottawa will take an equity stake in the firm.
Reported by Reuters
Reported by Bloomberg
Reported by The Wall Street Journal
Foxconn ties up with OpenAI
Foxconn is working on a new tie-up with OpenAI and said there is no AI bubble, Reuters reported.
Reported by Reuters
Anthropic IPO rating questioned
Blackstone told investors that Anthropic may not achieve an investment-grade rating after its initial public offering, according to the Financial Times.
Reported by Financial Times
Nvidia's Hugging Face deal under antitrust scrutiny
The US Justice Department is looking into Nvidia's planned purchase of open-source platform Hugging Face as well as its sales practices, The Decoder reported.
Reported by The Decoder
Nscale IPO preparation and Nvidia credit support
Nscale is preparing for a $35 billion initial public offering tied to a make-or-break AI mega-project, the Financial Times reported, and Nvidia is in talks to offer credit support for the project, Bloomberg said.
Reported by Bloomberg
Reported by Financial Times
Meta AI raid triggers monopoly probe
Meta's AI raid led to a monopoly abuse investigation, The Telegraph reported.
Reported by The Telegraph
Checked
12 claims in this story checked against 6 sources: 8 supported.
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- SupportedAI spending fears wiped nearly $900 billion off Big Tech’s market value."site:ft.com when:1d" - Google News: “Big Tech sheds nearly $900bn in rout over soaring AI spending - Financial Times.”
- SupportedCanada backs Cohere."site:bloomberg.com when:1d" - Google News: “Canada, Nvidia Back Cohere in Round at Over $20 Billion Value - Bloomberg.com.”
- Partly supportedFoxconn has tied up with OpenAI."site:reuters.com/world when:1d" - Google News: “Foxconn working on a new tie-up with OpenAI, says there is no AI bubble - Reuters.”
- Partly supportedThe US Justice Department is looking into Nvidia’s planned purchase of Hugging Face and its sales practices.The Decoder: “US antitrust regulators are scrutinizing Nvidia's Hugging Face deal and sales practices.”
- SupportedMeta’s AI raid triggered a monopoly abuse investigation."site:telegraph.co.uk when:1d" - Google News: “Meta’s AI raid triggers monopoly abuse investigation - The Telegraph.”
- SupportedEuropean shares also fell as investors worried about AI spending."site:reuters.com/business when:1d" - Google News: “European shares drop as AI spending worries hit tech; though best month since June in sight - Reuters.”
- Not in the sourcesGovernment funding and antitrust scrutiny are both on the rise.The Decoder: “US antitrust regulators are scrutinizing Nvidia's Hugging Face deal and sales practices.”
- SupportedGoogle’s debt-risk gauge rose after its earnings revived AI debt jitters, Bloomberg reported."site:bloomberg.com when:1d" - Google News: “Google Debt-Risk Gauge Rises as Earnings Revive AI Debt Jitters - Bloomberg.com.”
- Partly supportedCohere’s $4.5 billion funding round secured commitments from the Canadian government, Nvidia and other investors."site:reuters.com/business when:1d" - Google News: “Ottawa takes stake in Cohere as AI company opens $4.5 billion funding round - Reuters.”
- SupportedBlackstone told investors Anthropic may not achieve an investment-grade rating after its IPO."site:ft.com when:1d" - Google News: “Anthropic may not secure investment-grade rating after IPO, Blackstone tells investors - Financial Times.”
- SupportedNscale is preparing for a $35 billion IPO tied to a make-or-break AI mega-project."site:ft.com when:1d" - Google News: “Inside the make-or-break AI mega-project behind Nscale’s $35bn IPO - Financial Times.”
- SupportedNvidia is in talks to offer credit support for the Nscale project."site:bloomberg.com when:1d" - Google News: “Nvidia in Talks to Offer Credit Support for Nscale Project - Bloomberg.com.”
