The weekend was a rollercoaster for the tech industry, with major players like Amazon.com Inc., Meta Platforms Inc., and Nvidia Corporation making headlines. From AI investments pushing tech giants towards debt to stalled chip deals and major hacking campaigns, the sector was buzzing with activity.
AI Investments Pushing Tech Giants Towards Debt
U.S. tech giants, including Meta Platforms Inc., Amazon.com Inc., Microsoft Corp., and Alphabet Inc., have been heavily investing in artificial intelligence. However, Goldman Sachs analysts led by Lotfi Karoui noted a significant shift towards debt financing as the liquidity positions of these companies approach normalcy.
See Also: AI Companies Are Burning Billions, Tech Workers Are Getting Wrecked —And Wall Street Doesn’t Care
Nvidia’s UAE Chips Deal Stalled
A multi-billion-dollar deal for Nvidia Corporation to supply advanced AI chips to the UAE has been delayed for months. This has reportedly frustrated CEO Jensen Huang as U.S. Commerce Secretary Howard Lutnick pushes for finalized investments before proceeding with shipments.
Oracle Customers Targeted In Extortion Scheme
Oracle Corporation has warned its E-Business Suite customers about a series of extortion emails following a major hacking campaign. The company has urged its clients to update their products to protect against known software vulnerabilities.
OpenAI CEO to Meet South Korea’s President
OpenAI CEO Sam Altman is set to meet South Korean President Lee Jae Myung in Seoul. This comes as South Korea aims to expand its artificial intelligence industry and OpenAI opens its first Seoul office.
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
