Alphabet said Monday it plans to raise up to $80 billion in equity to help fund its AI ambitions, which includes a $10 billion investment from Berkshire Hathaway via a private deal.
Why it matters: One of the world'sbiggest companies, which has had historically high cash flow, is seeking more cash to keep up in the AI race.
Florida Attorney General James Uthmeier on Monday sued OpenAI and its CEO Sam Altman, alleging that the company marketed ChatGPT to the public without sufficiently warning of its dangers.
Why it matters:Florida is the first state to sue OpenAI, part of a growing string of lawsuits the state has filed against Big Tech companies, including Meta and Snapchat.
Anthropic on Monday announced that it has filed confidential IPO papers with the U.S. Securities & Exchange Commission.
Why it matters: Three companies could enter the U.S. public markets with valuations of at least $1 trillion -- something that never before has even happened once.
Don't count on AI to solve America's inflation problem: That's the message from several Federal Reserve officials who warn that the promise of an AI-fueled productivity boom might not justify cheaper money.
Why it matters: How AI shapes inflation and productivity will be a defining question for the Fed under the leadership of Kevin Warsh, who has staked out a case that the technology's supply-side benefits justify keeping rates low.
Sekai has raised a $20 million Series A to grow a platform for creating mini apps through text prompts, founder and CEO Lucky Zhang exclusively tells Axios.
Why it matters: The founder, who previously sold startups to Apple and TikTok parent ByteDance, is betting AI-generated software is the next breakout consumer app.
Gigascale Capital, the VC firm founded by ex-Meta CTO Mike Schroepfer, just announced a new $250 million fund to back startups "rebuilding the physical economy for climate impact."
Why it matters: It marks an evolution of the climate-focused firm Schroepfer launched in 2023 that supports early-stage startups.
Stocks just finished a month that could hold its own with some of the frothiest moments of the tech stock boom of the late 1990s.
The big picture: With the end of the Iran war seemingly close, the S&P 500 ripped to new records in May, as falling oil prices, easing interest rates and strong earnings results set off a blistering rally in AI-related tech shares.
After years of talking to hundreds of CEOs, elected officials, social scientists and ordinary Americans, this is our best take on how things stand in our country right now and a guide to how we got here.
On Tuesday, Jim will outline why he believes CEOs and business leaders are uniquely suited to step up and help fill the trust void in this moment.
We're living through the most disorienting societal moment since World War II. Almost nobody in a position of power is explaining why, or what to do about it.
This is so much bigger than politics. It touches our jobs, our companies, our communities and our realities.
Why it matters: By most objective measures, it's an extraordinary time to be alive. Americans are wealthier, safer and longer-lived than at any earlier point in history. U.S. total wealth has soared. Violent crime sank to a 20-year low and is still falling. Life expectancy just hit 79 years — the highest in American history. The country produces more energy than ever after four straight record years.
Microsoft has officially unveiled the Microsoft Surface Ultra, the first full-fledged Windows PC to run on an Nvidia main processor, saying the device is "made for a kind of work that does not fit in a standard laptop."
Why it matters: The move, previously reported by Axios, puts the hottest name in chips behind Windows as Microsoft tries once again to redefine the PC for the AI era.
Artificial intelligence models are quietly shaping spiritual advice — often by leaving faith out.
Why it matters: As churches, apps and spiritual chatbots embrace AI, new research suggests general-purpose models may be ill-equipped to handle sensitive questions of faith: grief, forgiveness, marriage, guilt and conversion.
Nvidia unveiled Cosmos 3, an open AI world model designed to help robots, autonomous vehicles and other physical systems better understand and predict real-world environments.
Why it matters: Nvidia is continuing its move beyond chips into AI models and software, positioning itself to become a foundational platform for physical AI development.
