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How CoreWeave’s Debt Binge Brought a Moment of Reckoning

In early 2023, Blackstone CEO Steve Schwarzman gathered with Jas Khaira, the company’s lead AI investor, and other top executives at the finance giant’s Park Avenue headquarters in Manhattan for a debate: Should they give billions of dollars to a little-known data center developer—CoreWeave—that they had turned down just a few months earlier? CoreWeave had gotten Blackstone to return to the table after landing a multiyear, multibillion-dollar contract to sell cloud computing...

Netflix Revenue Growth Hits Three-Year Low

Shares fell about 5% in after-hours trading

OpenAI Buys Drug Development Company Orchestra Bio

The acquisition is an early step toward the company’s long-stated goal of using its technology to help with biological research and drug discovery.

Insurers Pump Over $740 Million Into CoreWeave Debt Tied to Meta

Data center developers need money, and insurance giants want to find high-quality, high-yield debt.

Enterprise Sales Veteran Mike Clayville Returns to Amazon 

Clayville, who helped Amazon Web Services learn how to sell large deals to Fortune 500 companies before leaving to join Stripe in 2020, has a new role at Amazon.

Salesforce to Acquire Marketing Software Maker Braze for Nearly $5.7 Billion

Salesforce has been on an acquisition spree lately.

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Meta’s Global Affairs Chief Joel Kaplan to Leave in 2027

Executive helped shape the company’s political strategy and strengthen ties with the Trump administration.

Startup Launches Financing Platform for Neoclouds, Others Seeking Funds for GPUs

Compute Labs developed a service to match GPU buyers and lenders as its deal pipeline soared past $10 billion.

U.S. Sanctions Five Chinese Entities Linked to Google AI Trade Secret Theft

Convicted Chinese man had claimed his AI startup could replicate Google's technology, the State Department says.

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Employee Who Bugged OpenAI Had Saudi Royal Ties, U.S. Prosecutors Say

Saudi national Abdulrahman Alfozan exchanged frequent messages with a member of the Saudi royal family and had “considerable support” from the Saudi government, according to the U.S. Attorney’s office.

Musk Plans to Give a SpaceX share to “Every Kid in America”

The 2027 giveaway would be worth nearly $11 billion, but he hasn’t said how it will work.

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Nvidia Tells Suppliers to Tap TSMC Process for Next-Generation Memory Chips

Samsung has agreed to the standardization requirement, aimed at ensuring consistent HBM performance.

DeepSeek’s Upgraded V4.1-Flash Model Shakes Up AI Industry

The Oct. 17 update, which brings the affordable model’s performance closer to frontier levels, further intensifies the competition in the market.

Anthropic Commits At Least 5% of Shares to New Public Benefit Fund

The new entity, subject to stockholder approval, could get an additional 2% for every 50% increase in valuation.

Microsoft Pulls Out of Nscale U.K. Data Center Following Delays

The cancellation by Microsoft, one of Nscale's largest customers, is likely to weigh on its planned public offering this month.
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