Alphabet will acquire Intersect Power, a data center and power infrastructure firm, in a deal valued at $4.75 billion plus debt, the companies said Monday.
Why it matters: Tech giants are aggressively hunting for power to serve energy hungry data centers that train AI models and handle queries.
This holiday season, JPMorgan Chase appears to be having a change of heart on crypto.
Why it matters: JPMorgan CEO Jamie Dimon has long derided cryptocurrencies like bitcoin, famously calling it a "fraud," "stupid" and "worthless" — and even saying he'd fire any employees found trading it.
Erebor, a new digital bank co-founded by Anduril's Palmer Luckey, has quietly raised $350 million at a $4.35 billion post-money valuation, Axios has learned from multiple sources.
Why it matters: Investor excitement in the stablecoin banking startup is reaching AI levels.
The Trump administration said Monday that it's immediately pausing all leases for offshore wind projects under construction due to "national security risks."
Why it matters: It's among the most sweeping broadsides yet against the renewable energy source that's most directly in President Trump's crosshairs.
Private equity firms Permira and Warburg Pincus have agreed to acquire Clearwater Analytics, a Boise, Idaho-based investment and accounting software maker, for $8.4 billion (including assumed debt).
The big picture: It's a boomerang buyout for Permira and Warburg Pincus, which both invested in Clearwater in 2020 and helped take it public one year later.
Instacart said on Monday that it's discontinuing a recently exposed program that offered some customers different prices for the same items.
Why it matters: The controversial program called attention to the concept of dynamic pricing, in which businesses set variable price points for goods and services based on different factors.
Ukrainian officials this month observed a defense-tech demonstration in Portugal involving the coordination of air and sea drones in the absence of GPS.
Why it matters: Ukraine's unmanned wins — including striking Russian warships in the Black Sea and ambushing nuclear-capable bombers — have flipped military thinking on its head.
Declines in tech stocks? Healthy movement. Local officials stopping data centers? Prevents overbuild. Valuations high? Well, they deserve to be.
Why it matters: Every risk for the AI trade is framed as a positive by Wall Street bulls who are adamant we are in the early stages of the AI revolution.
