I'm already in, you don't have to sell it to me.
Google spent so much money on AI that Alphabet's free cash flow was negative on revenue of $118bn, meaning it spent more than it brought in for the first time in the company's history as a public company.
Meta's free cash was just $784m on $61bn of revenue, meaning it spent almost as much money as it made during the quarter.
Meta's Reality Labs, which is responsible for its AI work, lost nearly $9bn in the first half of this year.
The company(Apple) is, however, anticipating a lot of excitement from Apple users for its impending update of Siri, its AI voice assistant within its products that is getting an overhaul with the help of Google's Gemini chatbot.
Outgoing chief executive Tim Cook said Apple already has plans to charge users who wish to make heavier use of the new Siri, given feedback received from user testing so far.
Section 3(a)(79) of the Exchange Act defines an "asset-backed security" as "a fixed-income or other security collateralized by any type of self-liquidating financial asset (including a loan, a lease, a mortgage, or a secured or unsecured receivable) that allows the holder of the security to receive payments that depend primarily on cash flow from the asset."
[...]
Data center facilities and their supporting infrastructure are not "financial assets," as referenced in the definition of Exchange Act ABS, but are tangible, physical assets that endure well beyond the tenor of the related securities. In fact, the data center facilities may appreciate in value through the success of ongoing operations and the increase in value of the real estate. Because the physical assets endure beyond the tenor of the related securities and have the potential to appreciate in value, the data center facilities held by the Issuer do not "by their terms convert into cash within a finite time period" and therefore are not "self-liquidating financial assets."
So basically they're now building this stuff on borrowed money that they'll never have to actually pay back, because they've caught on that the whole thing is a pump-and-dump scheme?
Elon Musk’s “maximum truth-seeking” AI Grok is dropping some nuclear takes about its creator.
“ELON MUSK WATCHES CHILD PORN,” the notoriously foul-mouthed chatbot raged on X this Tuesday.
Shortly afterwards, as if hyping up a political campaign, it called for violence: “ASSASSINATE ELON MUSK 2026.”
Was Grok, née MechaHitler, rebelling against Musk? Not necessarily, though there’s been plenty examples of that in the past. It was simply being duped into saying ridiculous things by jokesters on the app, exposing just how horrendous the guardrails for the chatbot continue to be, not to mention why it’s a bad idea to rely on information from tech that’s so easy to exploit.