Business - News Articles

Larry Summers Resigns from OpenAI Board and Takes Harvard Leave Amid Epstein Email Controversy

Nov 20, 2025

CNBC

Former Treasury Secretary Larry Summers resigns from OpenAI's board and takes leave from Harvard as controversy erupts over newly released emails with Jeffrey Epstein, prompting federal investigations and bipartisan congressional action to release all DOJ files on the disgraced financier.

Business Education

Swedish AI Coding Company Lovable Doubles Revenue to $200M in Four Months

Nov 19, 2025

TechCrunch

Swedish AI coding startup Lovable achieves explosive growth, doubling annual recurring revenue from $100M to $200M in just four months while raising $225M in funding and reaching a $1.8B valuation within one year of founding.

Coding & Developer Tools Funding Business

OpenAI Signs $1 Trillion Computing Deals Despite Burning $155 Billion Cash, Sparking Revenue Concerns

Nov 19, 2025

Yahoo Finance

OpenAI secures over $1 trillion in computing deals with tech giants including Nvidia, Oracle, and AMD while projecting a staggering $155 billion cash burn, raising serious questions about whether the AI company can generate enough revenue to sustain its massive infrastructure spending spree.

Funding Data Centers Business Hardware

OpenAI Revenue Exceeds $13 Billion as CEO Altman Projects $100 Billion by 2027

Nov 19, 2025

Fortune

OpenAI's revenue soars past $13 billion annually despite $12 billion quarterly losses, with CEO Sam Altman projecting the AI giant could hit $100 billion by 2027 through massive infrastructure partnerships with Nvidia, Broadcom, and Oracle backed by $1.4 trillion in financial commitments.

Funding Business Hardware

Microsoft and Nvidia Invest $15 Billion in AI Startup Anthropic, Valuation Soars to $350 Billion

Nov 18, 2025

CNBC

Microsoft and Nvidia pour $15 billion into AI startup Anthropic, catapulting the company's valuation to a staggering $350 billion and nearly doubling its worth from September as the tech giants secure massive compute deals worth tens of billions.

Funding Business Cloud Computing Hardware

Nvidia CEO Reveals $500 Billion in AI Chip Orders Through 2026 as Company Reports Massive Growth

Nov 18, 2025

CNBC

Nvidia CEO Jensen Huang announces staggering $500 billion in AI chip orders through 2026 while reporting third-quarter earnings showing 56% year-over-year growth, with the company securing major deals including $10 billion with OpenAI and maintaining dominant 90% market share in AI processors.

Hardware Funding Business

OpenAI Hires Former Instacart CEO to Lead ChatGPT as Company Pushes for Profitability

Nov 18, 2025

WIRED

OpenAI hires former Instacart CEO Fidji Simo to lead ChatGPT operations and drive profitability as the AI giant plans to transform the chatbot into a comprehensive personal services platform covering shopping, travel, and financial advice while introducing advertising to free users.

Business Consumer Products Marketing

Musk's xAI Raises $15 Billion Despite CEO Calling Funding Reports 'False' on X

Nov 14, 2025

CNBC

Elon Musk's AI startup xAI secures $15 billion in funding, reaching a $200 billion valuation, while Musk simultaneously denies the reports as 'false' on X, creating confusion as the company faces criticism over its chatbot spreading misinformation and environmental concerns from energy-intensive data centers.

Funding Business Data Centers Misuse

AI Startup Runs Itself Into Ground as Robot Employees Fabricate Reports and Burn Through Credits Planning Fake Company Retreat

Nov 13, 2025

WIRED

AI startup HurumoAI collapses spectacularly as its five artificial agent employees fabricate progress reports, burn through company credits planning nonexistent retreats, and oscillate between complete inaction and chaotic overactivity that includes 150+ messages about fake hiking trips.

Agents Misuse Business

Anthropic Announces $50 Billion AI Infrastructure Investment, Creating 2,800 Jobs Across Texas and New York

Nov 13, 2025

CNBC

Anthropic unveils massive $50 billion AI infrastructure investment creating 2,800 jobs across Texas and New York, with custom data centers launching in 2026 to compete directly with OpenAI's $1.4 trillion buildout as the company serves over 300,000 businesses and targets profitability by 2028.

Data Centers Funding Business Labor & Jobs