Author: Jaxon Bennett

Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.China is going to win the artificial intelligence race, says Jensen Huang. At first glance, it is easy to assume Nvidia’s billionaire founder is just talking his book. Nvidia does stand to gain the most from any narrative that encourages the US to step up its investment in AI or ease regulatory restrictions on its development, thus boosting demand for Nvidia chips. But does he have a point?Not long ago, about a fifth of Nvidia’s data centre revenue came from China. Its…

Stay informed with free updatesSimply sign up to the Indian business & finance myFT Digest — delivered directly to your inbox.A SoftBank-backed Indian eyewear retailer seesawed in its Mumbai trading debut after raising $821mn, in an illustration of concern over heady valuations that have helped drive a boom in Indian initial public offerings.Shares in Lenskart Solutions, which were issued at Rs402 ($4.53), initially tumbled as much as 11 per cent and later traded flat despite the offer being subscribed 28 times, largely by institutional investors.Its listing comes during an Indian IPO boom as many businesses seek to take advantage of…

Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.Tesla shareholders are set to vote on Elon Musk’s $1tn pay deal on Thursday after the mercurial billionaire warned he will quit if the proposal fails.Musk has argued he needs the package of additional shares to increase his control of the electric-vehicle maker to at least a quarter, up from 16 per cent, to protect Tesla from activist investors as it builds powerful artificial intelligence models and an “army” of millions of humanoid robots.Tesla shareholders must decide whether the risk of losing…

US voters issued a rebuke of President Donald Trump, US stocks dropped on Tuesday as jitters over highly elevated valuations for many artificial intelligence companies intensified, and some investors are worried there’s an AI bubble in Asian stocks as well. Plus, UniCredit’s ambition to become a European banking powerhouse has hit a series of roadblocks. Mentioned in this podcast:US election results liveListen to the Swamp Notes podcastUS stocks slide as investors fret over high valuations for AI companiesAsian markets’ reliance on AI boom raises ‘bubble’ fearsWhat next for Andrea Orcel’s UniCredit?Today’s FT News Briefing was produced by Marc Filippino, Sonja…

Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.Developing artificial intelligence that lives up to the hype will take trillions of dollars of investment. So for OpenAI chief Sam Altman, the fact that the leader of the field could not easily raise new money was a big problem. A restructuring deal agreed with key shareholder Microsoft on Tuesday makes OpenAI a little more like a normal company. But only a little. The gist of this outlandishly complex reshuffle: Microsoft will swap its stake in an OpenAI subsidiary in which profit…

Unlock the White House Watch newsletter for freeYour guide to what Trump’s second term means for Washington, business and the worldChina’s Communist party leadership has called for a nationwide mobilisation involving “extraordinary measures” to achieve “decisive breakthroughs” in semiconductors and other key technologies.The push by the party’s elite central committee to close the gap with the west in chips, machine tools, high-end instruments and basic software comes just days ahead of critical meeting between Chinese leader Xi Jinping and US President Donald Trump. China and the US have increasingly used technology controls and access to vital materials as weapons in their…

Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.Sequoia Capital’s chief operating officer resigned over comments made by partner Shaun Maguire that she regarded as Islamophobic, as political debates sow division at one of Silicon Valley’s most powerful venture capital firms. Sumaiya Balbale — a practising Muslim who has spoken publicly about how her gender, ethnicity and faith have shaped her career — stepped down after five years at the company in August. Her decision to leave was precipitated by Maguire’s social media posts, according to three people with knowledge…

Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.Apple has signed a $700mn deal to stream Formula 1 races in the US, as the iPhone maker joins Big Tech groups Amazon and Netflix in expanding further into screening live sport. The two groups confirmed on Friday they had agreed a five-year partnership ahead of this weekend’s US Grand Prix in Austin. Apple will begin broadcasting F1 in 2026, replacing Disney-owned broadcaster ESPN in the US.The deal is worth about $140mn a year, according to a person with knowledge of the…

Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.OpenAI’s boundless ambition has become the touchstone of the generative artificial intelligence boom. It isn’t just the giant deals with which it has been shaking up the chip industry. If generative AI has the potential to change many aspects of business and daily life, then OpenAI intends to be the one leading the way. It wants to own it all, from consumer apps such as chat and social networking to the tools companies use to build AI agents. The question is how…

Hello from Tokyo, this is Katherine Creel, your host for this week’s #techAsia.Here in Japan, the big question in political circles is “Who will be Japan’s next prime minister?” The answer seemed pretty cut-and-dried after Sanae Takaichi won the Liberal Democratic Party leadership vote, but an unexpected bout of political upheaval has thrown that certainty out the windowIn the world of global tech and investment, meanwhile, the question is: “When will the AI bubble burst?”Former Intel CEO Pat Gelsinger is the latest tech figure to argue that the rush of spending on chips and data centres means we are indeed…