IBM Shares Plunge 23% After Warning of a Quarterly Earnings Miss
IBM shares sank about 23% after it warned that preliminary second-quarter results fell short, as clients diverted spending toward memory and servers ahead of price increases.
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IBM shares sank about 23% after it warned that preliminary second-quarter results fell short, as clients diverted spending toward memory and servers ahead of price increases.
Google DeepMind CEO Demis Hassabis proposed a US-led standards body to test the most powerful AI models before release and coordinate an industry slowdown if risks mount.
DeepSeek founder Liang Wenfeng’s net worth has more than doubled to $36 billion following a new funding round, making him the wealthiest founder among pure-play AI development companies, according to Bloomberg.
Google unveiled SensorFM, a health AI trained on over a trillion minutes of smartwatch data from 5 million people, that predicts 35 health measures from cardiovascular risk to depression.
Apple sued OpenAI for trade secret theft, alleging former employees now at OpenAI stole confidential hardware information to build its first AI device. OpenAI denies it.
SK Hynix raised $26.5 billion in its Nasdaq debut, the largest US listing ever by a foreign company, as investors rushed to buy into the AI memory chip boom.
Swedish vibe-coding startup Lovable is reportedly in talks to raise $300 million at a $13.2 billion valuation, double the $6.6 billion it achieved in December 2025.
Meta will build its first Canadian data center, a 1-gigawatt AI facility in Alberta costing about C$13 billion, powered largely by a dedicated natural gas plant.
Apple expanded its partnership with Broadcom in a multi-year deal worth more than $30 billion, its largest US manufacturing commitment, to produce over 15 billion American-made chips.
Elon Musk’s xAI has rebranded to SpaceXAI, folding its Grok chatbot and X into SpaceX and signaling that AI, not rockets, is now central to the space company’s strategy.
Microsoft cut about 4,800 jobs, roughly 2.1% of its workforce, hitting Xbox and commercial sales hardest, the latest tech layoffs to intensify fears about AI and work.
Meta quietly released Pocket, an app that lets people build small interactive games from text prompts and share them in a TikTok-style feed, built on its Gizmo acquisition.
German autonomous defense startup Quantum Systems has raised $1.2 billion in a Series D round at an $8 billion post-money valuation, co-led by Blackstone, Noteus, Airbus, and Advent.
Mark Zuckerberg told employees that Meta’s AI agents have progressed slower than expected and its restructuring was “not as clean” as planned, a rare admission amid huge AI spending.
Microsoft is investing $2.5 billion in Frontier, a new unit that will embed 6,000 engineers with customers to help them adopt AI, joining a wider industry race into hands-on deployment.