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AI & Enterprise

Musk's xAI wins final approval for APR Energy acquisition to secure power for AI

Elon Musk has acquired mobile power equipment company APR Energy to secure electricity for xAI data centres needed to run the Grok AI service, the article said. The deal was cleared after the U.S. Federal Trade Commission ended its merger review early, allowing approval without additional antitrust scrutiny. The purchase has drawn attention as xAI relies on gas turbines at its Memphis supercomputer site and faces environmental lawsuits and regulatory scrutiny over emissions and permitting.

AI & Enterprise

Jim Cramer says AI rally is not a bubble like the dotcom era

Jim Cramer said U.S. markets amid an AI-driven rally differ from the period just before the dotcom bubble burst. He said some stocks may reflect excessive expectations but do not represent the whole market. Cramer cited interest rates, corporate results and valuations, saying a dotcom-style collapse would require repeated large rate hikes. He also pointed to S&P 500 forward P/E near 20 versus above 25 before 2000, and said major banks and some tech names trade at relatively low multiples.

Crypto

U.S., UK align regulation on stablecoins and tokenisation, issue joint recommendations

U.S. and British finance authorities moved to align regulation on tokenised assets and stablecoins, issuing four digital-asset recommendations as part of a Transatlantic Taskforce for the Future of Markets. The proposals call for a cooperative framework to test cross-border uses of tokenised assets and for shared regulatory principles for stablecoins. They also set a 1:1 reserve requirement backed by high-quality liquid assets and point to building a cross-border stablecoin market.