Finance news

Meta is building its first big Canadian data center as AI expansion crosses the border

Meta is building its first big Canadian data center as AI expansion crosses the border.

More than two-thirds of tech stocks are at least 20% off recent highs. What’s happening to the AI trade?

Major semiconductor names have been falling hard as investors take profits following a blockbuster second quarter.

IMF Downgrades Global Economic Growth Forecast To 3% Amid Iran War

The International Monetary Fund (IMF) has downgraded its 2026 global economic growth forecast to 3%, down from 3.5% posted in 2025 with the impact of the Iran war expected to negate gains made by the ongoing AI boom. According to the IMF, oil prices will average ~32% higher in the current year compared to the previous year while global consumer prices are set to jump 4.7%, halting two years of cooling inflation. However, the AI investment boom is expected to provide one of the few bright spots,

West Texas Cowboys Are Cashing In on the AI Land Rush

Forty miles outside Abilene, in the highlands between Taylor and Nolan counties, 421 wind turbines have spun since 2006. Horse Hollow was the largest wind farm on earth when it went up…nearly 47,000 acres of cattle country and mesquite scrub, leased from ranch families who mostly kept running cattle underneath the blades. West Texas doing what West Texas does best…selling the wind nobody else wanted. Twenty years later, the same stretch of the state is selling something else nobody has enough of

Insurance giant says it’s turning to AI to replace as many as 1,800 jobs

Allianz Partners will axe between 1,500 and 1,800 roles from its workforce of close to 23,000

Business ticker: Ikea ends sales of Malm furniture

Mercedes sells fewer cars +++ Deal with Broadcom: Apple has over 15 billion chips produced in the USA +++ OpenAI wants to release new AI models to the public +++ News in the company live blog.

OpenAI to publicly release GPT-5.6 AI models, ending government-requested limits

OpenAI's chief rival, Anthropic, recently restored access to its latest models following a weeks-long clash with the government.

Alibaba shares spike 12% in Hong Kong as T-Head chips, AI revenue fuel earnings optimism

Shares of Alibaba Group Holding surged to a high of 13.8 per cent in Hong Kong on Wednesday as equity analysts expect revenue to reaccelerate in the June quarter, driven by growing demand for artificial intelligence and narrowing losses in food delivery. The gain, the strongest this year, came before the company closed up 12.2 per cent at HK$107.5 (US$13.71). Rivals Tencent Holdings and Meituan saw their shares grow 3.8 and 3.3 per cent, respectively, while the Hang Seng Tech Index increased by.

Clips of flooded Hong Kong rivers, streets go viral online after heavy rain

Videos of flash-flooded rivers and overflowing pavements went viral on social media on Wednesday as residents in parts of Hong Kong grappled with more than 70mm of rainfall in 24 hours. The intensity of the floods prompted some users online to claim a picture of the extreme was outdated or even AI-generated, only to be proved wrong when a clip was shared by another person. “I actually live in the village houses right above that spot, so I wanted to post the video I took this morning to prove...

Business ticker: Mercedes sells fewer cars

Deal with Broadcom: Apple has over 15 billion chips produced in the USA +++ OpenAI wants to release new AI models to the public +++ Apple fails in EU court with lawsuit against stricter rules +++ News in the company live blog.

OpenAI secures U.S. regulatory green light for GPT-5.6 rollout, Axios report says

Singapore's Temasek to raise AI exposure 2.5-fold over 5 years

SambaNova hits $11 billion valuation as investors back Nvidia chip challengers

SambaNova is valued at $11 billion after fresh financing led by General Atlantic, as AI chip startups look to challenge Nvidia.

Singapore's Temasek hits record portfolio value, eyes more investment in AI, infrastructure and private credit

Over the course of its financial year, Temasek recorded a gain of S$49 billion and a 10.5% total shareholder return.

Are the US’ AI models better than China’s? That may be beside the point

As another heatwave rolled across Europe, the warehouses emptied before the politics could catch up. Air conditioners and fans sold out across Spain, Italy and Germany, most of them Chinese. Fan sales in Spain alone on the retail platform of Alibaba Group Holding (which owns the South China Morning Post) nearly doubled last month while Midea Group’s air-conditioner sales in western Europe surged by over 70 per cent in the first six months of the year. A decade from now, such heatwaves may become

China warns about AI risks with Anthropic's Claude Code

China said specific versions of Claude Code posed back-door vulnerabilities that could send sensitive information to a remote server.

Artificial Intelligence: OpenAI releases new AI version

After the US security clearance, OpenAI is bringing the new AI models GPT-5.6 onto the market - with variants for performance and price-conscious people.

Samsung-backed AI chip firm Rebellions targets IPO in South Korea next year, CEO tells CNBC

Sunghyun Park, CEO of Rebellions, told CNBC that the company is leaning toward a listing on the KOSPI over the KOSDAQ.

Canadian province prepares lawsuit against OpenAI after school mass shooting

British Columbia said on Tuesday it was preparing a lawsuit against OpenAI over the company’s failure to report violent ChatGPT activity by the person who committed a mass school shooting in the western Canadian province. OpenAI had banned an account linked to Jesse Van Rootselaar in June 2025, months before the 18-year-old transgender woman killed eight people at her home and a school in the tiny mining town of Tumbler Ridge. Canadian families impacted by the February shooting have already...

Google DeepMind director Cao Liangliang makes a boomerang-return to Hong Kong

In a homecoming for Hong Kong’s artificial intelligence community, Cao Liangliang – former principal engineer and director at Google DeepMind, IEEE Fellow and architect of foundational AI systems at Google, Apple and IBM – has returned to the city after a two-decade absence. His appointment as Chair Professor of Data Science and Artificial Intelligence at Hong Kong Polytechnic University (PolyU) last week completes an intellectual boomerang trajectory that began under renowned mentor Tang...

Business ticker: OpenAI wants to release new AI models to the public

USA reinstates oil sanctions against Iran +++ Companies increase production more than expected +++ DHL raises annual forecast +++ News in the company live blog.

Lawmakers probe growing use of Chinese AI models in U.S. companies

An ongoing House Committee investigation is probing the risks involved in the rise of AI built in China.

How cheap AI is undermining Indonesia’s academic credibility

Indonesian authorities are widening their investigation into a case of suspected identity and research fraud at an overseas medical conference, which has exposed gaps in academic oversight and revived concerns about abuses in the nation’s system of publication-driven promotion for academia. The Ministry of Higher Education, Science and Technology has set up a team to examine papers previously published by the alleged perpetrators, saying action would be taken if they were found to have used...

Why the AI Boom Is About to Break the U.S. Power Grid

The American power grid is about to fail the most important industry it has ever been asked to support. In fact…the dominoes in this potentially disastrous scenario have already begun to fall. Large companies that right now depend heavily on the grid are making behind-the-scenes moves that are key to understanding what’s about to happen next. Microsoft just signed a 20-year deal to restart the Three Mile Island nuclear plant, a facility that has been offline since 2019. Amazon paid $650 million

Kalshi traders see slim odds U.S. government will take a stake in OpenAI this year

Traders on the prediction markets platform see a less than 30% likelihood the federal government will take a stake in AI companies Anthropic and OpenAI.

AI-related debt sells off sharply as Amazon looks to borrow another $25 billion

Bonds financing the massive artificial-intelligence buildout were hit hard by selling on Tuesday, as Amazon.com set out to borrow another $25 billion in new debt.

Jim Cramer says the market's reaction to Samsung may signal a shift in AI leadership

CNBC's Jim Cramer said Samsung's earnings sparked a sell-off in AI hardware stocks, while many tech names that have lagged this year rebounded.

Think the U.S. stock market is too heavily exposed to AI? It’s even worse abroad.

Stock-market concentration is hardly just an issue in the U.S.

Japan's MUFG Bank to tap AI, satellite images for collateral appraisals

Why CPUs are now at the center of the AI race