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Alibaba Profits Plummet Amid Soaring AI Investment Costs
FinancebloombergFTAl Jazeera+9cnbcNHK WorldThe IndependentYahoocapital-bgjapan-timeschannel-news-asiaseeking-alpha+1 more1mo ago12 sources

Alibaba Profits Plummet Amid Soaring AI Investment Costs

Chinese tech giant Alibaba reported a significant drop in profits, nearing zero, despite its artificial intelligence business experiencing rapid growth. The substantial decline in earnings is attributed to the company's massive investments and increased spending on AI development and infrastructure.

SoftBank Plans Massive $500 Billion AI Data Center in Ohio, US
BusinessNHK Worldjapan-times2mo ago2 sources

SoftBank Plans Massive $500 Billion AI Data Center in Ohio, US

SoftBank Group has announced plans to construct a new AI-focused data center in Ohio, USA, with an estimated project cost of 80 trillion yen (approximately $500 billion), aiming to meet the rising demand for AI infrastructure in the American market.

Businessbloomberg3mo ago

SoftBank Group Shares Slump Amid Stargate AI Concerns

SoftBank Group's shares have slumped and its credit default swaps widened due to concerns surrounding its Stargate AI initiative. Investors are reacting to potential risks or uncertainties related to the ambitious AI project.

OpenAI raises over 17 trillion yen from Amazon, SoftBank, and others
TechnologyfazNHK WorldYahoo+3la-vanguardiaklix-bachannel-news-asia3mo ago6 sources

OpenAI raises over 17 trillion yen from Amazon, SoftBank, and others

OpenAI, which develops generative AI ChatGPT, announced on the 27th that it has raised a total of 110 billion dollars, or over 17 trillion yen, from Amazon, SoftBank Group, and semiconductor giant Nvidia, among others. The company has led the field of generative AI so far, but with intensifying competition from Google and emerging companies like Anthropic, it aims to further strengthen development with the funds raised.

SoftBank Plans Massive AI Data Center Investment in France
BusinessReutersFTcnbc+5le-figarolsm-lvNHK Worldcapital-bgqatar-tribune14d ago8 sources

SoftBank Plans Massive AI Data Center Investment in France

SoftBank Group announced plans to invest up to 75 billion euros ($87.5 billion) in France to develop a network of artificial intelligence data centers. This significant investment aims to bolster France's AI capabilities and contribute to its digital sovereignty.