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Crypto

Ondo Finance founder Nathan Allman dies suddenly

Ondo Finance, a company that offers tokenised stocks, said its founder and CEO Nathan Allman died unexpectedly at age 32. Ondo Finance posted the announcement on social media platform X on May 26 local time and did not disclose the cause of death. The company said Ian De Bode will take over as CEO. Allman previously worked at Goldman Sachs on digital asset services for institutional investors and founded Ondo in 2021.

AI & Enterprise

Uber burns through AI budget in four months, says results hard to prove

Uber, which is reported to have used up its AI budget in four months, has raised questions about tangible returns from its AI spending. President and Chief Operating Officer Andrew Macdonald (앤드루 맥도널드) said he cannot find a link between higher Claude Code token consumption and more useful consumer features. Uber spent $3.4 billion on R&D in 2025, up 9 percent, and CEO Dara Khosrowshahi said increased AI spending is being funded by hiring fewer people.

Industry

Micron shares surge 18 percent, market value tops $1 trillion for first time

U.S. memory chipmaker Micron’s shares jumped 18 percent on May 26, helped by strong demand for AI memory chips, pushing its market value above $1 trillion for the first time. CNBC reported the surge was largely driven by UBS raising its Micron price target to $1,625 from $535. UBS cited long-term contract opportunities with some fixed prices and said the market could apply a more normal valuation to Micron.