UK chip dreams

The UK government is funding some promising chip startups to participate in the AI boom. ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌

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 Microsoft Corp $481.15 -0.5% CoreWeave Inc $89.76 -1.2% Alibaba Group Holding Ltd HK$123.80 -1.9% Market data as of 02:28 AM ET. Data is subject to provider delays. Your watchlist Top Stories AI cloud deal: CoreWeave has signed a multibillion-dollar agreement to sell artificial intelligence cloud services to Hudson River Trading. The computing power will let HRT handle many more trades. IPO goals: Anthropic expects to match or top the biggest-ever initial public offering — by SpaceX — when the AI company goes to the markets later this year. The number is a moving target. Sales slump: Game hardware spending in the US fell 29% in July from a year earlier. Nintendo’s Switch 2 had a tough month. Must Reads Meta Has Quietly Become One of Microsoft’s Largest AI Customers Meta Platforms Inc. has become one of Microsoft Corp.’s biggest AI customers, underscoring how demand for the emerging technology remains concentrated in the tech industry. Alibaba Profit Dives 75% After AI Spending Hits $10 Billion Alibaba Group Holding Ltd.’s profit plunged more than 75% after the Chinese company ratcheted up quarterly capital spending to almost $10 billion, aiming to safeguard its position in a fiercely competitive global AI arena. China’s New Tourist Obsession Is a 24-Hour Spa For less than the cost of many hotels, sprawling bathhouses offer soaking pools, sleeping lounges, lobster buffets and TikTok-ready wellness. Samsung Set to Top Phone Market in Downturn, Counterpoint Says Samsung Electronics Co. will regain the top position in the smartphone market this year, in a sign of its greater resilience to higher memory-chip prices, Counterpoint Research predicted. Beyond The Brief The UK government is backing a number of promising chip companies in an effort to support a domestic industry and gain a share of the artificial intelligence boom, Mark Bergen reports in today’s Tech In Depth. Some even dream that the British startups will be able to compete in the future with industry heavyweight Nvidia, he writes. Get the Tech In Depth newsletter for analysis and scoops about the business of technology from Bloomberg’s journalists around the world. This Week In Q&AI Big Tech is trying a charm offensive to combat rising opposition across the US to massive data centers for AI, Brody Ford writes in this week’s Q&AI. As part of the effort, companies are hiring staffers “to counter misinformation,” in the words of developer CoreWeave and “get ahead of organized opposition before capital is committed,” said Fluidstack, which is developing data centers for Anthropic, he writes. You’ve got questions about AI. We’ve got answers. Sign up for Bloomberg Technology’s weekly Q&AI newsletter. Before You Go... Young Americans Become More Hostile to AI, Fearing Job Losses The youngest members of the US workforce are increasingly skeptical about artificial intelligence, fearful that advances in the technology will lead to widespread job losses, according to a Pew Research Center survey. 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 |