OpenAI CFO tells shareholders enterprise revenue has overtaken ChatGPT

OpenAI’s enterprise business now generates more revenue than its consumer business, finance chief Sarah Friar told shareholders on Friday, months earlier than the company had forecast. Its annualise [...]

Sachin Bansal’s Navi hires banks for a $315m IPO, four years after his first attempt stalled

Navi, the Indian fintech founded by Flipkart co-founder Sachin Bansal, has hired banks for an initial public offering of about $315m, according to a Bloomberg report. It is the clearest sign yet that [...]

Putting a number on a founder’s voice

Every few months another agency pitches me a personal-branding framework, and the pitches tend to land in the same place, with stages, arrows, and a trademark symbol above advice that circulated a dec [...]

A Pentagon memo tells staff to spend $244m with Palantir. Its subject line is ‘Funding Palantir’

Government software is usually bought by asking several companies to bid. A department writes down what it needs, suppliers compete, and the file records why the winner won. A memo drafted inside the [...]

AI compute becomes a tradable commodity on 5 October. The price goes public

Renting an Nvidia H100 for an hour costs whatever your supplier says it costs. There is no published price. Two companies buying identical capacity can pay very different rates, and neither of them wi [...]

Accel raised $3.5bn. Europe now gets the same fund as the US

Accel is a venture capital firm. It gives money to startups early, usually before anyone else has, and takes a stake in return. It has done this since 1983, and it wrote the first institutional cheque [...]

Nebius revenue grew 454%. Most of the cash came from customers paying in advance

Nebius rents out computing power. It buys Nvidia chips, puts them in data centres, and charges companies to train and run AI models on them. The trade calls this a neocloud. It is based in Amsterdam, [...]

Europe’s drought is shutting down nuclear reactors

Nuclear reactors need water. They sit beside rivers and coastlines for a reason. The water carries heat away from the core. When it runs low or runs warm, the reactor has to power down. That is happen [...]

SK Hynix is spending $720bn as its shares fall by half

High-bandwidth memory is the part of an AI system that nobody photographs. It sits next to the processor and feeds it data, and if it is too slow the expensive chip waits. It is made by stacking ordin [...]