AI
The AI backlash intensifies, China gains on the US leaders, and IBM tanks
The AI sector is experiencing a massive wave of infrastructure investment alongside intensifying regulatory backlash.
Key takeaways
- Meta Platforms almost doubled its planned spending on the Hyperion data center in Louisiana to $50 billion.
- Meta is reportedly talking to Anthropic about a $10 billion data center lease deal.
- New York Governor Kathy Hochul signed the country's first moratorium on data centers.
- Databricks is raising new funding at a $188 billion valuation.
- IBM shares plummeted 25% on weak preliminary earnings and missed mainframe orders.
The AI sector is experiencing a massive wave of infrastructure investment alongside intensifying regulatory backlash. Meta Platforms has nearly doubled its spending on the Hyperion data center in Louisiana to over $50 billion, and is reportedly in talks with Anthropic for a $10 billion lease deal. Meanwhile, New York Governor Kathy Hochul signed the nation's first data center moratorium. In corporate developments, Databricks is raising new funding at a $188 billion valuation, while IBM's stock plummeted over 25% following weak preliminary earnings and missed mainframe orders.
By the numbers
- -26%
- IBM stock drop following weak preliminary earnings
- $50B+
- Meta investment in Hyperion data center campus
- $10B
- Reported data center leasing deal between Anthropic and Meta
- $188B
- Valuation for Databricks in its new funding round
- $100B
- TSMC Arizona fab investment boost
How it unfolded
- IBM stock plummets over 25% on weak preliminary earnings
- Pegasystems scheduled to report earnings
- IBM, Alphabet, ServiceNow, and Tesla report earnings
- Intel, Mobileye, and SAP report earnings
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Common questions
- What happened with IBM?
- Meta Platforms almost doubled its planned spending on the Hyperion data center in Louisiana to $50 billion.
- Where can I read the original report?
- Read the full report at siliconangle.
