CERN and Mistral plan an AI foundation model for particle physics
Artificial Intelligence
Nvidia’s Huang says CoreWeave needs no backstop, as its credit swaps hit a record
Artificial Intelligence
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FINTECH AND ECOMMERCE
Ramp passes $2bn in revenue as its Europe chief confirms the $60bn round
At its new valuation, Ramp says it is cash-flow positive and saves 85,000 businesses over $1bn a month. Its UK arm, live since September, adds more than 100 customers a month.
ARTIFICIAL INTELLIGENCE
Gartner warns $3.5tn of AI infrastructure spending is at write-down risk
AI infrastructure spending needs $8.5tn in revenue through 2030 to earn a 12% return, Gartner calculates, but it forecasts no more than $3.6tn. It expects most neoclouds to lose their independence.
FUTURE OF WORK
Kroger will cut 37% of its corporate workforce as it leans on technology
Greg Foran, the former Walmart executive now running the US grocer, told staff the company carries too much overhead. An analyst says the savings may take only cents off a basket.
SEMICONDUCTORS
Japan puts up to $21bn into two GlobalFoundries chip fabs in New York
The first GlobalFoundries fab is due online in 2029, and the second depends on demand. The US government’s stake in the chipmaker will rise from 3% to 7%, its CEO says.
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