The AI chip wars just got their first real plot twist in years. On Wednesday, Cerebras Systems — the company that builds processors the size of dinner plates — didn’t just go public. It detonated onto the Nasdaq. Shares priced at $185, opened at $350, peaked near $386, and settled at $311. That’s a 68% first-day pop, a $95 billion valuation, and the biggest U.S. tech IPO since Uber went public in 2019. ...
Jensen Huang has a new side hustle. While Nvidia remains the undisputed king of AI chips — the company that turned sand into a $5.2 trillion empire — it’s quietly becoming one of the most aggressive investors in the entire AI ecosystem. In 2026 alone, Nvidia has committed more than $40 billion in equity investments across the AI stack. The company selling picks and shovels in the gold rush is now bankrolling the miners, the land, and the roads. ...
The company that sells every shovel in the AI gold rush just started renting shovels from someone else. And it’s paying $5.5 billion for the privilege. On May 7, Nvidia and IREN Limited announced a partnership combining a $3.4 billion cloud services contract with a $2.1 billion equity option — deploying up to 5 gigawatts of AI infrastructure using Nvidia’s DSX architecture. That’s enough power for 3.75 million homes, dedicated entirely to AI computation. ...
Picture thousands of giant steel orbs bobbing in the Pacific Ocean, each one quietly running AI models while powered entirely by the waves beneath them. No power grid. No cooling towers. No angry neighbors fighting a new data center build. Peter Thiel just bet $140 million that this isn’t science fiction. Portland-based startup Panthalassa announced its Series B this week to build what might be the most audacious answer yet to AI’s insatiable hunger for electricity: autonomous, wave-powered computing nodes that operate in the open ocean. And in a world where companies are exploring space-based solar and nuclear micro-reactors to keep the lights on, floating data centers might actually be the conservative option. ...
The math is stark: 8,000 people out, $145 billion in. That’s the deal Mark Zuckerberg laid out at a company town hall last week. No euphemisms about “restructuring for the future.” No corporate doublespeak about “aligning resources.” Just a blunt admission: compute infrastructure and people are Meta’s two major cost centers. With AI hardware costs exploding, something had to give. That something is 10% of Meta’s workforce, starting May 20th. And Zuckerberg wouldn’t rule out more cuts later this year. ...
Everyone’s talking about who builds the best AI model. But the real bottleneck in artificial intelligence right now isn’t software — it’s concrete, copper wire, and electricity. KKR just put $10 billion behind that thesis. Helix Digital Infrastructure: The Pitch The private equity giant launched Helix Digital Infrastructure this week — a standalone company that will design, build, own, and operate the physical backbone AI depends on. Data centers. Power generation. Transmission lines. Cooling systems. The unsexy stuff that makes everything else possible. ...
Four earnings calls. One evening. One number that made Wall Street’s collective jaw hit the floor: $1 trillion. That’s the projected cumulative AI capital expenditure for Big Tech by 2027 — more than the GDP of the Netherlands, more than three times the value of the entire U.S. airline fleet, and the single largest corporate infrastructure bet in human history. But here’s what makes this story interesting: the market didn’t react to that number with uniform euphoria. It split cleanly down the middle. Google got a 10% pop. Meta got punched 8% in the face. Same thesis, same spending spree, wildly different verdicts. ...
Two deals. Two days. Two of the biggest names in AI writing checks to the same company. On Thursday, Meta committed an additional $21 billion to CoreWeave for AI cloud capacity through 2032. On Friday, Anthropic — the company behind Claude — signed a multiyear agreement to run its workloads on CoreWeave’s infrastructure. CoreWeave’s stock ripped past $103, and its total revenue backlog now exceeds $66.8 billion. For a company that started out mining Ethereum, that’s not a bad week. ...
Jensen Huang dropped another $2 billion like it was couch change. The recipient? Marvell Technology — a company whose core business is helping hyperscalers build custom chips so they don’t have to buy Nvidia GPUs. Read that again. Nvidia just invested $2 billion in a competitor enabler. Huang called it “a marvelous investment” on CNBC. Yes, he really said that. Marvell’s stock popped 13%. Nvidia climbed 3-4%. Everyone made money. But the real story isn’t the dad joke — it’s the strategy hiding behind it. ...
Thirty thousand people woke up Tuesday morning to a termination email from “Oracle Leadership.” No warning from managers. No heads-up from HR. Just a 6 a.m. message saying their role had been eliminated, effective immediately. System access? Already revoked. Oracle’s stock rose over 5% on the news. The Largest Layoff in Oracle’s 48-Year History On March 31, 2026, Oracle executed what analysts believe is the single largest workforce reduction in the company’s history. Employees across the United States, India, Canada, Mexico, and Uruguay received identical termination emails citing “careful consideration of current business needs.” Entire teams at divisions like Revenue and Health Sciences and SaaS Virtual Operations Services saw reductions of 30% or more. ...