Alibaba Accelerates AI Investment Beyond $53 Billion: Stakes Rise in the Global AI Race
Alibaba plans to ramp up AI spending past its original $53 billion target as CEO Eddie Wu anticipates a $4 trillion global AI market over the next five years.
Alibaba plans to ramp up AI spending past its original $53 billion target as CEO Eddie Wu anticipates a $4 trillion global AI market over the next five years.
Micron crushed Q4 earnings thanks to booming AI hardware demand. Revenue hit $11.32B, beating estimates. Critical HBM chips fuel growth. They forecast a strong $12.5B next quarter, exceeding expectations.
The U.S. government wants up to 10% ownership in Lithium Americas' Thacker Pass mine, vital for U.S. electric vehicle (EV) batteries. This demand is tied to a $2.26B loan and aims to boost domestic supply to cut reliance on China.
USAC, the only North American antimony supplier, won a 5-year, $245M sole-source contract from the U.S. military (DLA) to supply antimony metal ingots.
Red Lobster partnered with SoundHound AI to use a voice AI agent for takeout phone orders everywhere.
Wells Fargo significantly raised its rating and price target for CoreWeave, moving the stock to Overweight and citing "multiple" factors that signal strong growth potential.