Elon Musk wants OpenAI Inc. and Microsoft to pay him damages in the range of $79 billion to $134 billion over his claims that the generative AI company defrauded him by abandoning its nonprofit roots and partnering with the software giant.
India will revive tax proceedings against Tiger Global Management after a top court ruling related to the firm’s 2018 sale of its stake in online retailer Flipkart.
Commerce Secretary Howard Lutnick said South Korean memory chipmakers and Taiwanese companies that aren’t investing in the US may face up to 100% tariffs unless they commit to increased production on American soil, as the Trump administration ramps up calls for additional foreign investment.
PJM Interconnection LLC unveiled a reliability plan hours after top officials in the Trump administration called on the operator of the largest US power grid to do more to bolster the network and help tame electricity prices as demand from data centers booms.
Alphabet Inc.’s Google is appealing a landmark antitrust decision that the company illegally monopolized online search and search advertising, an expected move that will likely delay the implementation of changes to the company’s business.
AIX Ventures — a venture capital firm that has backed artificial intelligence startups including Perplexity, Windsurf and Ideogram — saw co-founder Shaun Johnson exit the firm last month.
Alphabet Inc.’s Google is in talks with Radiate, a broadband operator backed by Stonepeak Partners, to set up a joint venture that would hold the companies’ fiber assets, as demand for high-speed connectivity soars amid the surge in AI and other data-intensive applications.
US stocks fell on Friday, finishing the week lower, as traders mulled President Donald Trump’s reluctance to nominating Kevin Hassett as Federal Reserve chair.
Bloomberg’s Ed Ludlow discusses the plan laid out by the Trump administration and several states to have tech companies pay for surging energy prices following the rise of AI data centers. Plus, AI coding startup Replit nears a $9 billion valuation in a new funding round. And the Chairman of the Federal Trade Commission, Andrew Ferguson discusses acquihires, consumer protection and AI regulation. (Source: Bloomberg)
Niko Bonatsos and Michael Fertik are raising cash for a new firm called Verdict Capital.
