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Walt Disney Co.  shares slipped after newly appointed CEO  Josh D’Amaro  faced immediate challenges, with two major  billion-dollar technology initiatives encountering setbacks  within his first week in office. Tech Bets Hit Early Roadblocks Disney’s  US$1.5 billion investment in Epic Games Inc.  came under pressure after the gaming company announced  1,000 job cuts , citing weak engagement for recent versions of its flagship title  Fortnite . The partnership was central to Disney’s strategy of building a  digital entertainment ecosystem , integrating its franchises into immersive gaming experiences. Meanwhile, a separate  US$1 billion planned investment in OpenAI  has effectively collapsed after the company decided to  shut down its Sora AI video platform , ending its collaboration with Disney. Strategy Shift Toward Digital and AI Faces Uncertainty D’Amaro, who officially took over on March 18, had outlined a vision of tr...

Microsoft  is reportedly considering legal action against  Amazon  and  OpenAI  over a  US$50 billion cloud agreement , escalating tensions in the rapidly evolving artificial intelligence (AI) infrastructure race. Dispute Centres on Cloud Exclusivity At the core of the dispute is whether  Amazon Web Services (AWS)  can host OpenAI’s new commercial offering,  “Frontier,”  without breaching Microsoft’s  exclusive cloud partnership  with the AI firm. Microsoft’s agreement requires that  access to OpenAI models be delivered via its Azure cloud platform , making any potential AWS involvement a  possible contractual violation . The reported deal could significantly reshape the  competitive landscape in cloud computing and AI services , where exclusivity and infrastructure control are key strategic advantages. High Stakes in the AI Infrastructure Race The potential legal challenge underscores intensifying competition am...

Quick Summary Amazon may invest  up to US$50 billion in OpenAI US$15b upfront , US$35b tied to IPO or AGI milestone SoftBank & Nvidia reportedly eye  US$30b each OpenAI IPO valuation could reach  US$1 trillion Deal Structure Still Conditional According to  The Information ,  Amazon  is negotiating a massive funding deal with  OpenAI  that could total  US$50 billion . The proposed structure: US$15 billion immediate investment US$35 billion contingent  on: OpenAI achieving  artificial general intelligence (AGI) Or pursuing a  public listing (IPO) Key point: The majority of Amazon’s capital is milestone-based, reducing upfront risk. AI Funding War Intensifies Other major players reportedly joining the round: SoftBank Group  – US$30 billion (in stages) Nvidia Corp  – US$30 billion (in stages) Backed by existing partner  Microsoft If finalized, Amazon could become  the largest single contributor  in Open...

Quick Summary Nvidia has halted talks to invest up to US$100 billion in OpenAI , according to WSJ Internal concerns at Nvidia reportedly stalled the deal Partnership may still continue at a  much smaller scale Raises fresh questions about  AI investment sustainability What Happened NVIDIA Corp  has  stopped negotiations  on a planned  US$100 billion investment  in  OpenAI , exposing a potential rift between two of the most influential players in artificial intelligence, the  Wall Street Journal  reported. The talks reportedly  broke down after internal concerns emerged within Nvidia , prompting both sides to rethink the structure of their partnership. From Mega-Deal to Scaled-Back Option The original plan, announced in September via a  letter of intent , envisioned: US$100B investment Construction of  new AI data centres Up to  10 gigawatts of computing power  — roughly equal to  New York City’s peak electri...

Apple Inc.  is preparing a major overhaul of  Siri , transforming it into the company’s first true  AI chatbot  as it races to catch up with rivals like  OpenAI  and  Google , according to Bloomberg. The revamped Siri, internally code-named  Campos , will be deeply embedded across  iPhone, iPad and Mac  operating systems. Unlike today’s voice assistant, the new Siri will support  natural, chat-style conversations , allowing users to ask follow-up questions, type requests, and complete more complex tasks — similar to ChatGPT or  Google Gemini . This marks a strategic pivot for Apple, which has historically resisted standalone chatbots in favour of weaving AI quietly into features. However, after a  rocky rollout of Apple Intelligence in 2024  and growing competitive pressure, the company is now embracing conversational AI more directly. The chatbot is expected to be  previewed at WWDC in June  and  relea...

OpenAI  has signed a  multi-year AI computing deal worth more than US$10 billion  with  Cerebras Systems , marking one of the largest infrastructure commitments yet in the global race to scale artificial intelligence. The agreement will give OpenAI access to  750 megawatts of AI computing power , built in stages  through 2028  and hosted by Cerebras, according to a joint statement. What’s in the Deal Scale:  750MW of AI compute capacity Duration:  Multi-year, through 2028 Estimated value:   > US$10 billion Purpose:  Faster inference and response times for AI models, including ChatGPT OpenAI said the partnership will significantly improve  speed and responsiveness , a critical factor as AI usage scales globally. “This partnership will make ChatGPT not just the most capable but also the fastest AI platform in the world,” — Greg Brockman, President and Co-founder, OpenAI Why Cerebras Matters Cerebras uses  giant, wafer-sca...

Key Takeaways for Investors Valuation milestone:  OpenAI restructures into a  public-benefit corporation , now valued at  US$500 billion . Microsoft stake:  Retains a  27% ownership , worth roughly  US$135 billion , implying a  ~10× return  on its cumulative US$13.8 billion investment. Strategic integration:  The partnership extends to  2032 , anchored by a new  US$250 billion Azure cloud-service contract . Market reaction:  Microsoft shares  rose 2.5% , pushing its  market cap back above US$4 trillion . Deal Overview Microsoft and OpenAI have finalized a sweeping agreement that reshapes both companies’ relationship — transforming OpenAI from a hybrid non-profit into a  Public Benefit Corporation (OpenAI Group PBC)  controlled by the  OpenAI Foundation . The restructuring  eliminates legacy funding restrictions  that limited OpenAI’s capital-raising options since 2019, when Microsoft first gai...

Shares of  Advanced Micro Devices (AMD)  came under pressure as the chipmaker recorded the largest jump in short-selling activity among semiconductor stocks, even as optimism over its artificial intelligence prospects continues to drive strong gains this year. AMD Short Volume Climbs Short volume on AMD rose  5.7 million to 12.6 million shares  on Wednesday — the biggest increase in the semiconductor group, according to exchange data. The total represents  about 11.7%  of all shares traded that day. The surge came as  AMD shares rallied 9.4%  after more analysts boosted their price targets. HSBC’s Frank Lee  raised his target to  $310  from  $185 , citing massive AI revenue potential from its new  OpenAI partnership . Wedbush’s Matthew Bryson  lifted his target to  $270  from  $190 . Despite the rise in short trading, short interest — the total amount of borrowed shares yet to be covered —  fell to...

Advanced Micro Devices (AMD)  shares surged  7.7% to US$234.98  on Wednesday after  HSBC analyst Frank Lee raised his price target to  US$310  from  US$185 , maintaining a  Buy  rating. Lee said AMD’s recent deal with  OpenAI  implies a  massive AI revenue upside  that is still “underestimated by consensus.” He estimates the partnership could generate  US$80 billion  in chip revenue over the next five years. The agreement will see OpenAI deploy  six gigawatts of AMD GPUs —starting with  MI450 GPU servers  in the  second half of 2026 . Lee added that the MI450 is expected to  rival Nvidia’s products  when launched late next year. Meanwhile, AMD and  Oracle  also announced an expanded  AI infrastructure partnership , with Oracle set to deploy tens of thousands of AMD GPUs from  Q3 2026 . The  Nasdaq Composite  rose  0.6%  while  Nvidia ...

India has launched a  pilot programme enabling e-commerce payments through ChatGPT , in collaboration between the  National Payments Corporation of India (NPCI) ,  Razorpay , and  OpenAI . The initiative integrates  Unified Payments Interface (UPI) —India’s fast payments network—with  ChatGPT , allowing users to  shop and complete transactions directly within the AI platform . The pilot uses UPI’s  “reserve pay”  feature, which lets users pre-authorize funds for specific merchants. Banking partners include  Axis Bank  and  Airtel Payments Bank , while  Tata Group’s Bigbasket  is among the first e-commerce platforms onboard. Razorpay CEO  Harshil Mathur  said agentic AI payments would turn “AI assistants from simple discovery tools into full-fledged shopping agents.” OpenAI’s managing director Oliver Jay  added that combining advanced AI with UPI’s trusted infrastructure could set a new global standard f...

Taiwan Semiconductor (TSM.US) reported September revenue of  NT$330.98 billion , up  31.4% year-on-year  and down  1.4% month-on-month , bringing  Q3 revenue to NT$989.92 billion , an increase of  30% YoY  and above market expectations. The results offer one of the clearest indications yet of sustained, broad-based AI demand flowing through the semiconductor ecosystem. Stronger-Than-Guided Performance Management had guided for Q3 revenue between  US$31.8 billion and US$33.0 billion  (based on NT$29/USD), implying a midpoint of  NT$939.6 billion . To hit that midpoint, September sales needed only to reach around  NT$281 billion . The actual figure of  NT$331 billion  comfortably exceeded that threshold, surpassing even the upper end of guidance and signaling demand momentum across advanced logic and packaging nodes. Broader Ecosystem Strength The performance mirrors strong results from Taiwan’s AI server manufacturers....

Advanced Micro Devices (AMD.US) skyrocketed  24%  on Monday, sparking a surge in  bullish call-option activity worth millions of dollars after unveiling a  multi-year AI chip-supply deal with OpenAI  — one that could generate  tens of billions in revenue  for the chipmaker. AMD shares closed at  US$203.71 , after touching an intraday high of  US$226.71 , marking its biggest one-day gain in over a year. The rally triggered aggressive options buying, including a  US$2.27 million block trade  for calls with a  US$240 strike price  expiring in four days — more than  22 times  existing open interest. Under the deal,  OpenAI  will deploy  6 gigawatts  of AMD’s Instinct GPUs beginning in  2H 2026 , while AMD issued a  warrant for up to 160 million shares  tied to delivery milestones. The first tranche vests upon shipment of the  initial 1GW of MI450 chips . AMD CFO  Jean Hu ...

Key Takeaway:  Wall Street extended its rally with the  S&P 500 marking its 28th record high of 2025 , powered by Nvidia’s pledge to invest  up to US$100 billion in OpenAI . While optimism remains strong, analysts caution that valuations are stretched and selective investing is key. Wall Street showed no signs of slowing, even after a  US$15 trillion rally from April lows , as technology stocks led another charge higher. The  S&P 500  notched its 28th record close this year, boosted by  Nvidia Corp’s 4% surge  following its massive investment commitment to OpenAI. The funds will support the building of data centers with  10 gigawatts of power capacity , deploying Nvidia’s advanced chips to train and run AI models. The AI-fueled rally has prompted calls for investors to stay “responsibly bullish.” Goldman Sachs’  Tony Pasquariello warned against stepping in front of the “US mega-cap tech freight train,” even as he flagged stretche...

Asian stocks extended their rally on Tuesday as the global  artificial intelligence (AI) boom  continued to pull money into technology shares, while gold surged to fresh record highs on expectations of further U.S. rate cuts. Wall Street once again led the charge after  Nvidia unveiled plans to invest up to US$100 billion in OpenAI , with its first data-center hardware set for delivery in 2026. The announcement sparked another wave of optimism across the tech sector, with giants such as Oracle, Apple, Tesla, and Nvidia itself fueling record highs. Market watchers noted that momentum funds and option traders are piling in, reinforcing the rally’s self-fulfilling nature. At the same time, investors seeking to hedge risk have flocked to gold. The precious metal hit an all-time peak of  US$3,755.47 per ounce , nearly 9% higher so far this month. Across Asia, chip-related sectors are enjoying the spillover effect. South Korea’s market gained 0.2%, now up almost 9% in Sept...

 Key Takeaways Stargate UK project:  Nvidia and OpenAI to support UK’s sovereign AI hub with Nscale Global Holdings. Massive investment:  UK’s northeast “AI Growth Zone” expected to attract  £30B private capital , including  £10B from Blackstone . Infrastructure scale:  First phase to deploy  8,000 GPUs , expandable to  31,000 units  from 2026. Jobs impact:  Project expected to create  5,000+ jobs  in Blyth and Cobalt Park data center hubs. Project Overview The UK government announced the launch of  Stargate UK , a strategic initiative to build sovereign AI infrastructure. The platform will enable  OpenAI’s technology to run on local servers , reducing reliance on overseas data centers and reinforcing national tech autonomy. The initiative is backed by US-UK tech collaboration, with  Nvidia (NVDA US)  providing GPU hardware and  OpenAI supplying its AI models. Data center operator  Nscale Global Ho...

 Key Takeaways President Donald Trump begins his second UK state visit, marked by royal ceremony and high-level meetings. US tech giants commit  £31B ($42B)  in UK investments, led by  Microsoft ($30B)  and  Google ($6B) . Focus areas include  AI, quantum computing, semiconductors, and clean energy . UK-US tech partnership aims to deepen collaboration in critical technologies, with Nvidia and OpenAI CEOs present. Political theater aside, the deal signals stronger transatlantic ties in next-generation tech. Tech Investment Spotlight Microsoft pledged  £22B ($30B)  for AI and quantum infrastructure, while Google’s parent Alphabet will invest  £5B ($6B) , underscoring confidence in the UK’s role as a digital hub. The funds target data centers, research, and advanced computing projects. The agreement aligns with the broader  US-UK technology pact  signed last week, covering semiconductors, telecoms, and AI safety standards. Market ...

Key Takeaway: US stock futures edged higher ahead of this week’s CPI and PPI reports, which will shape the Federal Reserve’s rate-cut path. Beyond macro, investors are watching OpenAI’s ballooning $115B cash burn projection, the Trump family’s $1.3B crypto windfall, and heavy inflows into Alibaba shares. Futures Steady Ahead of Data S&P 500 futures rose 0.22%, Nasdaq futures gained 0.37%, and Dow futures edged up 0.14%. Market attention is firmly on August CPI and PPI, with traders already pricing in a September rate cut. OpenAI’s Spending Surge OpenAI raised its projected cash burn through 2029 to $115B, $80B higher than earlier estimates. Heavy AI infrastructure and ChatGPT expansion costs are driving the increase. The report highlights the intensity of AI investment and potential spillover to chipmakers and cloud providers. Trump Family’s Crypto Windfall The Trump family has accumulated $1.3B from World Liberty Financial and American Bitcoin. Eric Trump’s ABTC stake alone is now...

 重点摘要 博通（AVGO）公布强劲的Q3业绩，但市场更关注的是其获得的一笔  100亿美元AI芯片订单  —— 据传来自OpenAI。这笔大单为博通在2026财年加速增长铺平道路。 Q3业绩快照 营收 ：159.5亿美元（同比 +22%，环比 +6%），略超指引。 毛利率 ：67.1%（同比 +3.2个百分点，环比 -0.9个百分点）。 非GAAP净利润 ：84亿美元（同比 +56%，环比 +8%），略高于市场预期。 分部门表现 ： 半导体 ：92亿美元营收（同比 +26%），其中  AI芯片贡献52亿美元 （同比 +63%）。 软件 ：68亿美元营收（同比 +17%），毛利率高达  93% 。 AI成增长核心 来自第四大客户（极可能是OpenAI）的  100亿美元订单 ，叠加谷歌、Meta和字节跳动，进一步扩展AI订单管线。 AI XPU芯片  引领增长，占AI营收约65%，环比增长28%。 博通披露  1,100亿美元订单储备 ，其中AI相关订单已超过非AI。 非AI业务仍显疲弱 非AI半导体收入（约40亿美元）持续低迷。 宽带业务尚有韧性，但存储、企业网络与工业芯片表现持平或下滑。 管理层预期，非AI业务要到  2026财年末  才可能复苏。 Q4业绩指引 营收 ：174亿美元（同比 +24%）。 半导体销售 ：107亿美元（同比 +30%），其中AI预计62亿美元（同比 +66%）。 软件 ：67亿美元（同比 +15%）。 调整后EBITDA ：117亿美元（同比 +28%）。 总结 凭借这笔  100亿美元AI超级订单 ，博通成功吸引投资者将注意力从疲软的非AI业务转向高速增长的AI芯片板块。到2026财年，AI营收有望继续  年增60%以上 ，博通正与英伟达并肩，逐步巩固其在高端AI芯片赛道的核心地位。