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AI & Enterprise

Meta shares jump on plan to sell spare AI compute and enter cloud business

Meta\'s shares rose more than 8 percent on July 1 as it advances a new cloud business to sell unused AI computing capacity to outside customers. The move drew attention as it signals potential returns on large AI infrastructure spending. Meta has said it plans up to $145 billion in capital expenditure this year for data centre expansion and GPUs for AI training. Meta is considering whether to offer access to AI models or sell raw compute resources.

AI & Enterprise

SpaceX shows investors AI device prototype combining in-house OS and xAI

SpaceX has shown investors a prototype AI device similar in form to a smartphone, the Wall Street Journal reported on Tuesday. The company is believed to have unveiled the device to investors and other stakeholders ahead of a listing. The device is at an early stage and its design could change. Elon Musk denied the report as “completely fake news.” The prototype was described as thinner than an iPhone.

AI & Enterprise

Big Short\'s Michael Burry resumes Tesla short, targets Nvidia and semiconductor ETF

Investor Michael Burry, known as the real-life figure behind the film \'The Big Short\', disclosed a new short position in Tesla at $416.22 as part of a broader wager against what he called overheating in AI and semiconductors. He also listed shorts in Caterpillar, Nvidia, iShares Semiconductor ETF and Applied Materials. He did not disclose the size or structure of the Tesla position. Burry argued semiconductor valuations are at an extreme level.