Meta bets big on AI data center

Investors want to see whether the company’s huge facility in rural Louisiana is worth the cost ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌

Here’s your wrap of the latest must-read tech news. For more expansive and analytical coverage from around the globe, get the Tech In Depth newsletter. Market Snapshot Nintendo Co Ltd ¥7,519 +4.7% Dell Technologies Inc $238.03 -1.6% Baidu Inc $137.71 +1.8% Market data as of 04:20 AM ET. Data is subject to provider delays. Your watchlist Top Stories Nintendo rebound: The Japanese games maker’s shares are bouncing back after a prolonged decline due to the memory chip crunch. Investors view it as a safe haven from riskier AI bets. Dell sells servers: The company added 1,000 customers for its AI Factory, a package of hardware, software and services to power AI work. Michael Dell says traditional corporate customers are a focus. Baidu’s shifting business: AI segments such as cloud services contributed more than half of Baidu’s core quarterly sales for the first time. See how the internet company is changing. Tokenized stocks: The Trump administration is poised to roll out a plan for trading digital versions of securities. It could reshape the landscape of the US stock market. Must Reads Elon Musk Loses Case Against Sam Altman Over OpenAI’s Overhaul A jury rejected Elon Musk’s claims that OpenAI under Sam Altman’s leadership betrayed its mission to benefit the public by morphing into a for-profit business, finding that he waited too long to sue the company. Google’s Own AI Researchers Jockey for Access to Its Computing In the race to build the infrastructure that powers artificial intelligence, Alphabet Inc.’s Google has an enviable position: The company has a healthy cloud computing business, makes its own chips, and has struck deals to share them with companies like Anthropic PBC and Meta Platforms Inc. Kioxia Shares Hit New High After AI Fuels Huge Profit Increase Kioxia Holdings Corp.’s shares rose 16% to a new high on Monday, as buy orders flooded in after the memory supplier reported soaring profit and gave an outlook that trounced estimates. Beyond The Brief Meta is building a massive data center in rural Louisiana that, at minimum, may cost $200 billion, Riley Griffin reports in today’s Tech In Depth. Griffin spent weeks on the ground interviewing dozens of people while reporting about how the project unfolded. While CEO Mark Zuckerberg believes the AI push is vital to the company’s future, investors want to see that Meta can produce a return on those investments, she writes. Get the Tech In Depth newsletter for analysis and scoops about the business of technology from Bloomberg’s journalists around the world. Bloomberg Live Q&A Can you move your career forward by embracing AI? Bloomberg journalists answer your questions about changing skillsets, new executive education programs, rebooting business strategies and the AI startup boom in a Live Q&A conversation on at 3:30 p.m. EDT Wednesday, May 20. Stream here and send questions in advance to liveqa@bloomberg.net. Photographer: Jason Alden/Bloomberg This Week In Power On Apple is balancing its much-valued privacy for customers against the need to give those customers improved AI features, Mark Gurman reports in this week’s Power On. The tension will be seen in the iPhone operating system Apple will soon release centered on a revamped experience for the Siri digital assistant, he writes. Sign up for the Power On newsletter to get the inside scoop from Mark Gurman on all things Apple and consumer tech. Before You Go... Musk’s xAI Promised Staff $420 for Their Tax Returns, Hasn’t Paid Elon Musk’s xAI asked employees earlier this year to offer up their own tax returns as training data for the company’s Grok chatbot, promising a $420 payment as incentive for doing so. Two months later, those payments still haven’t materialized. Read more We’re improving your newsletter experience and we’d love your feedback. If something looks off, help us fine-tune your experience by reporting it here. Follow Us You received this message because you are subscribed to Bloomberg’s Tech In Brief newsletter. If a friend forwarded you this message, sign up here to get it in your inbox. Unsubscribe Bloomberg.com Contact Us Bloomberg L.P. 731 Lexington Avenue New York, NY 10022 |