Dina Bass

Applied Materials Inc. expects to double revenue over the next few years, without a commensurate rise in hiring, because it’s relying more on artificial intelligence tools for things like product development and quality control.

OpenAI has named former xAI executive Uday Ruddarraju to lead its infrastructure and compute businesses, marking the latest leadership shakeup for its teams focused on expanding data center capacity.

CoreWeave Inc. Chief Executive Officer Mike Intrator, facing a plunge in the company’s stock and bond prices, said the market is acting “irrationally” and that he remains confident in the AI cloud company.

Pigment, a French AI company that competes with Microsoft’s Excel and PowerPoint, has raised $250 million in a funding round, bolstering a push by a prominent European startup to take on an American technology giant. The financing, set to be announced Tuesday, values the company at $2.3 billion. The Scaleup Europe Fund led the round, with participation from Nvidia Corp. and World Innovation Lab, a US and Japan-based fund, as well as existing institutional investors Iconiq, IVP and Meritech Capit

Super Micro Computer Inc. jumped in late trading after reporting preliminary quarterly results that topped analysts’ estimates.

Venture capitalists are fighting to invest in AI startup Emulate, driving its valuation into the billions — even though the company is only three months old and doesn’t yet have a website or product.

High-frequency trading firms are even building their own data centers as they compete for an edge in the AI era.

“What is a GPU?” Blackstone Inc. executives asked CoreWeave Inc.’s leadership. Also: “Is AI real?”

The scale of the spending risks leaving debt markets dependent upon AI's profitability. The deluge also threatens to drive up borrowing costs for AI and other sectors as tech firms compete for finite capital amid rising interest rates. JPMorgan Chase & Co. analysts predict chip spending could exceed $3 trillion through 2030, with the majority likely funded by borrowing.

The chief of Crusoe, a data center developer and AI computing supplier that has contracts with firms including Meta Platforms Inc., Oracle Corp. and Alphabet Inc.’s Google, called the recent selloff of so-called neoclouds “overblown” and said rival CoreWeave Inc. has done “some very good deals.”