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📈 OpenAI plans a $1 trillion IPO
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- An anonymous Reuters report claims OpenAI is planning an initial public offering that could value the company at up to $1 trillion, with a possible timeline for late 2026 or 2027.
- A $1 trillion valuation would make OpenAI the 12th most valuable publicly traded firm on Earth, placing it just below Berkshire Hathaway and above JPMorgan Chase and Walmart in market capitalization.
- CEO Sam Altman confirmed going public is the most likely path, citing huge capital needs for projects like building new data center capacity projected to cost over $1 trillion per year.
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🤖 Zuckerberg says Meta's AI spending is paying off
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- Mark Zuckerberg defended Meta's spending, including a $14.3 billion investment in Scale AI to overhaul the company's new AI group, which is now known as Superintelligence Labs.
- The company's advertising business is seeing returns from AI, with third-quarter revenue rising 26 percent, which justifies boosting this year's planned capital expenditures to between $70 and $72 billion.
- If Meta overspends on computing resources, Zuckerberg said the excess data center capacity could be repurposed to profitably improve core recommendation systems for its family of apps and ads.
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🤝 Bending Spoons acquires iconic internet brand AOL
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- Italian software company Bending Spoons, known for buying Evernote and WeTransfer, is acquiring AOL from Yahoo after securing a $2.8 billion debt financing package for the deal.
- The deal marks another ownership change for the internet brand, which Verizon bought for $4.4 billion in 2015 before selling it to Apollo Global Management as part of Yahoo.
- The new owner has a history of layoffs and price hikes at other acquired companies but states it plans to invest significantly and has never sold a business it purchased.
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🤔 Tens of thousands of layoffs are being blamed on AI
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- Major corporations like Amazon, Walmart, and Salesforce are eliminating thousands of roles, publicly citing expected productivity increases and efficiencies from investing in AI technology.
- An economics professor suggests companies might be using AI as a convenient excuse for layoffs, which could really stem from poor profitability or a slowing global economic environment.
- Recent studies show minimal returns on AI investment for most organizations, with one report finding sixty percent of firms saw little revenue or cost gains despite substantial spending.
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🛰️ Construction firm plans to build data centers in space
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- Nvidia partner Starcloud plans to build a 5-gigawatt orbital data center with super-large solar and cooling panels approximately 4 kilometers in width and length for artificial intelligence.
- This proposed facility would generate vastly more power than the International Space Station’s arrays, making traditional launch and assembly methods too expensive for such a massive structure.
- Starcloud announced an agreement with Rendezvous Robotics to explore modular, autonomous assembly, a method for additively constructing and reconfiguring the huge installation's components directly while in orbit.
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🚀 Blue Origin may pass SpaceX for NASA moon lander
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- With SpaceX's Starship HLS facing delays for Artemis 3, NASA is now considering competitors like Blue Origin to provide the crewed lunar lander for the mid-2027 mission.
- The company plans to launch its MK1 cargo lander on a demonstration mission soon, a flight that will test critical systems and validate hardware for the crewed MK2 model.
- Blue Origin's smaller Blue Moon landers offer a simpler design compared to the complex Starship, a factor that might permit an accelerated development timeline to reach the Moon first.
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