The banking giant HSBC has signed a deal with the French artificial intelligence company Mistral. The partnership will give HSBC access to Mistral’s generative AI models. Ortenca Aliaj reports for the Financial Times that the collaboration reflects a broader trend of traditional lenders adopting new technologies to boost productivity and lower costs. HSBC and Mistral …
The AI music platform Suno has raised $250 million in a new funding round, bringing its valuation to $2.45 billion. Kristin Robinson reports for Billboard, citing an investor pitch deck that outlines the company’s rapid growth and future plans. Suno claims its users create a volume of music equivalent to Spotify’s entire catalog every two …
Financial documents from artificial intelligence startups Anthropic and OpenAI reveal two vastly different business strategies. Berber Jin reports for The Wall Street Journal that Anthropic is on a path to become profitable much faster than its larger rival by taking a more cautious approach to growth. The documents, which were shared with investors, show that …
OpenAI generated $4.3 billion in revenue during the first half of 2025 but posted a net loss of $13.5 billion, according to financial disclosures to shareholders reported by TechInAsia based on coverage by The Information. More than half of the loss stems from the remeasurement of convertible interest rights. Research and development costs dominated expenses …
OpenAI has entered into agreements valued at approximately $1 trillion to secure the computing power required for its artificial intelligence models. These commitments far exceed the company’s current revenue, as Tabby Kinder and George Hammond report for the Financial Times. The deals involve major technology companies such as Nvidia, AMD, Oracle, and CoreWeave. Over the …
AI company Anthropic plans to triple its international workforce and expand its applied AI team fivefold next year. The move is a response to soaring global demand for its Claude family of AI models. MacKenzie Sigalos reports for CNBC. According to the company, nearly 80 percent of Claude’s activity now comes from outside the United …
Software company Atlassian has agreed to purchase The Browser Co., maker of AI-powered web browsers, for $610 million in cash. The deal is expected to close by December, according to a report by Jordan Novet for CNBC. The Browser Co., founded in 2019, developed two browsers competing against Google Chrome and Apple Safari. Its Arc …
OpenAI has achieved $10 billion in annual recurring revenue, nearly doubling its performance from $5.5 billion last year. The milestone comes less than three years after launching ChatGPT. The revenue figure encompasses consumer ChatGPT subscriptions, business products, and API services, but excludes Microsoft licensing deals and large one-time contracts, according to an OpenAI spokesperson. Despite …
The $1.5 billion AI startup Builder.ai has filed for bankruptcy after revelations that it used human developers instead of artificial intelligence. Vinay Patel reports for International Business Times that the company’s supposed AI system was actually operated by 700 Indian programmers pretending to be automated bots. Builder.ai raised over $450 million from prominent investors including …
Analyst firm Gartner forecasts that global spending on generative AI will reach $644 billion in 2025, representing a 76.4% increase from 2024. According to the report detailed by Sean Michael Kerner in VentureBeat, hardware will account for approximately 80% of this spending, with devices alone claiming $398.3 billion. John Lovelock, distinguished VP analyst at Gartner, …