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Stargate project: OpenAI, Oracle pledge support for $500 billion AI infrastructure drive
The US government has announced $500 billion in funding as part of a huge drive to expand AI infrastructure capabilities across the country. The ‘Stargate Project’ is a new company, backed by industry heavyweights including SoftBank, OpenAI, Oracle, and MGX as initial equity funders. SoftBank and OpenAI are the lead partners, with SoftBank having financial responsibility and OpenAI taking operational…
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US Announces AI Project to Provide $500 Billion for Infrastructure
A joint venture called The Stargate Project will contribute $500 billion over four years to generative AI infrastructure in the U.S., representatives of SoftBank, OpenAI, and Oracle announced in partnership with President Donald Trump on Jan. 21. The joint venture will support infrastructure, including data centers, contributing to what OpenAI calls a “computing system.” “This infrastructure will secure American leadership…
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Google will invest a further $1 billion in AI startup Anthropic
Google has announced plans to increase its investment in Anthropic following Competition and Markets Authority (CMA) approval of its last tie-up with the company. The hyperscaler will now invest over $1 billion into the AI firm, according to reports from the Financial Times. This follows reports earlier in the month that suggested Anthropic is in a bid to raise an…
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Microsoft to Invest $80 Billion in AI Data Centers in Fiscal 2025
Generative AI products have sparked a surge in data center development. Microsoft is continuing this trend with plans to invest $80 billion in fiscal year 2025 to build AI-enabled data centers, the company revealed in a recent blog post. “Not since the invention of electricity has the United States had the opportunity it has today to harness new technology to…
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Do Kwon will be extradited to the US to face charges over Terra’s $40 billion crypto crash
“It was concluded that most of the criteria provided for by law support the extradition request of the competent authorities of the United States of America,” a machine-translated version of Montenegro’s Ministry of Justice’s statement said. It doesn’t say when Montenegro plans on releasing Kwon to the US. As noted by Bloomberg, it’s also unclear whether this decision is final,…
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AWS expands Ohio investment by $10 billion in major AI, cloud push
AWS has announced plans to invest an additional $10 billion in Ohio in a bid to expand data center infrastructure and help power the rise of AI. The investment builds on previous announcements of funding in the state worth $7.8 billion last year, in addition to $6 billion in 2022, AWS said in a statement. By 2030, AWS said its…
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SoftwareOne to acquire Crayon in $1.4 billion merger deal
SoftwareOne has acquired fellow software and cloud solutions provider Crayon Group in a deal valuing the firm at $1.4 billion. Switzerland-based SoftwareOne is one of the largest resellers of Microsoft licenses, offering software and cloud purchases, implementation, and support services. Oslo-based Crayon, meanwhile, distributes licenses for hyperscalers AWS, Microsoft Azure, and Google Cloud, mainly in the Nordic region. “SoftwareOne and…
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Australia’s Cloud Computing Growth to Reach $81 Billion by 2029
According to a new report, cloud computing was worth between $9 billion and $10 billion to the Australian economy from 2022 to 2023. However, continued enterprise cloud migrations and a boom in AI computing could push its annual contribution to GDP up to $81 billion by 2029. The report, endorsed by the Australian Information Industry Association and compiled by DT…
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Apple CEO Tim Cook hails company’s “deep connection” with UK as figures show it’s invested £18 billion since 2019
Apple CEO Tim Cook has hailed the company’s “deep connection” with the UK as it continues its expansion efforts across the country. Cook’s comments follow the publication of figures by Apple showing it has doubled the size of its engineering workforce in the UK over the last five years. The tech giant has also invested more than £18 billion in…
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Meta just unveiled plans to spend $10 billion on its largest-ever data center
Meta, together with Louisiana Economic Development (LED), is planning its biggest-ever data center in Richland Parish, northeast Louisiana. The $10 billion, AI-focused facility will occupy four million square feet on 2,250 acres. Construction is expected to start this month and to take until 2030. “Richland Parish in Louisiana is an outstanding location for Meta to call home for a number…
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