Oracle stock gains 36% to post best day since 1992, adding $244 billion in value
The cloud giant is on pace for its best day since 1992, and is now quickly approaching the $1 trillion market cap benchmark
Oracle engineers caused days-long software outage at U.S. hospitals
Oracle engineers triggered a five-day outage at several Community Health Systems hospitals, causing the facilities to temporarily return to paper-based records.
Nvidia sheds almost $600 billion in market cap, biggest one-day loss in U.S. history
Nvidia shares plunged 17% on Monday, resulting in a market cap loss of close to $600 billion, the biggest drop ever for a U.S. company.
President Trump highlights investing $500 billion in 'Stargate' AI project
President Donald Trump is talking up a joint venture investing up to $500 billion for infrastructure tied to artificial intelligence by a new partnership formed by OpenAI, Oracle and SoftBank. The new entity, Stargate, will start building out data centers and the electricity generation needed for the further development of the fast-evolving AI in Texas, according to the White House. The initial investment is expected to be $100 billion and could reach five times that sum. While Trump has seized on similar announcements to show that his presidency is boosting the economy, there were already expectations of a massive buildout of data centers and electricity plants needed for the development of AI.
President Trump highlights investing $500 billion in 'Stargate' AI project
President Donald Trump is talking up a joint venture investing up to $500 billion for infrastructure tied to artificial intelligence by a new partnership formed by OpenAI, Oracle and SoftBank. The new entity, Stargate, will start building out data centers and the electricity generation needed for the further development of the fast-evolving AI in Texas, according to the White House. The initial investment is expected to be $100 billion and could reach five times that sum. While Trump has seized on similar announcements to show that his presidency is boosting the economy, there were already expectations of a massive buildout of data centers and electricity plants needed for the development of AI.
AI craze is distorting VC market, as tech giants like Microsoft and Amazon pour in billions of dollars
With the biggest companies in the world throwing billions of dollars at generative AI startups, traditional VCs are struggling to find their place in the boom.
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