Minneapolis Fed President Neel Kashkari said artificial intelligence is reducing hiring needs at large companies while delivering measurable productivity gains. Smaller firms are seeing less impact so far.
DeepSeek publishes a new AI framework to boost scalability and efficiency, highlighting China’s efforts to advance large-scale AI under semiconductor restrictions.
European banks could eliminate more than 200,000 jobs by 2030 as artificial intelligence reshapes operations and accelerates branch closures. Back-office, risk, and compliance roles are expected to be most affected.
Meta Platforms has agreed to acquire Singapore-based AI startup Manus for about $2 billion, gaining a rare revenue-generating AI agent platform. The deal strengthens Meta’s AI strategy as investor scrutiny grows around heavy infrastructure spending.
U.S. senators Bernie Sanders and Katie Britt raised concerns about AI’s economic and social impact, calling for stronger oversight. Their remarks highlight growing bipartisan scrutiny of AI deployment.
Indian startups raised $10.5 billion in 2025, with fewer deals and tighter investor selectivity. AI funding grew modestly, diverging sharply from capital concentration trends in the U.S.
OpenAI is hiring a Head of Preparedness to study emerging risks tied to rapidly advancing AI models, including mental health impacts and cybersecurity threats. The move reflects rising concern over how frontier capabilities could be misused as models grow more powerful.
Bank of America CEO Brian Moynihan said artificial intelligence is increasingly contributing to U.S. economic growth and investment. He said the bank sees limited systemic risk from AI-related capital spending.
The Pentagon has agreed to integrate xAI’s Grok models into its GenAI.mil platform, supporting AI-driven analysis and automation for millions of defense users.
Alphabet announced plans to acquire Intersect for $4.75 billion, aiming to expand data center capacity and accelerate energy innovation. The acquisition includes in-development projects and Intersect’s technical team.
Biren Technology aims to raise HK$4.85 billion in its Hong Kong IPO, targeting AI chip development and intelligent computing growth amid strong investor interest.
Chinese generative AI startups MiniMax and Zhipu AI have disclosed their financials ahead of potential Hong Kong listings, highlighting modest revenues and mounting losses compared with U.S. peers.
Artificial intelligence has become a major factor behind U.S. job cuts in 2025, with companies citing automation and efficiency gains as reasons for workforce reductions. More than 55,000 layoffs this year have been directly attributed to AI adoption.
OpenAI is in talks to raise up to $100 billion in new funding, a deal that could value the ChatGPT maker as high as $830 billion. The discussions reflect rising capital needs as AI development and infrastructure costs accelerate.
ChatGPT crossed $3 billion in lifetime mobile consumer spending, with most revenue generated in 2025, outpacing TikTok and major streaming apps.