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U.S. markets panicked on Monday over speculation that DeepSeek’s AI models would crush demand for GPUs, with Nvidia’s stock dropping almost 20%. But Meta isn’t backing off, with its CEO Mark Zuckerberg pledging that the tech giant would invest “very heavily” in AI – even “hundreds of billions of dollars” – over the long term, … Read more
Despite the setback for OpenAI and Anthropic, investors tell Fortune that DeepSeek could spur AI startup growth. Read More
Stay informed with free updates Simply sign up to the Pensions industry myFT Digest — delivered directly to your inbox. Chancellor Rachel Reeves is looking to free up billions of pounds from the UK’s £1.2tn defined benefit pension system in her latest attempt to kick-start growth. The government is preparing to allow companies to access … Read more
Hangzhou-based DeepSeek has released several open-source AI models that match OpenAI’s performance—with more efficiency and at lower cost. Read More
Ellison’s home was in fact more like a village, a compound of intricately fashioned wooden houses modeled after a Japanese emperor’s palace. The 23-acre estate took almost a decade to design and build, including a lake and a waterfall operated by an on-off switch. All the buildings were constructed without nails and had mud-plastered walls … Read more
Bitcoin mining firms are turning to billions in fresh funding as high energy prices squeeze profits. Facing soaring energy costs, Bitcoin (BTC) miners in the U.S. are building war chests worth billions as competition for resources intensifies and profitability following Bitcoin’s latest halving remains under pressure, the Financial Times reports. Companies like Marathon Digital, Riot … Read more
Tether is on track to close the year with more than $10 billion in net profits, according to CEO Paolo Ardoino. Read More
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