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SoftBank Plans $100 Billion US Listing for New AI Company Roze

Key Points: SoftBank Group plans to create and list a new artificial intelligence and robotics company, Roze, in the United States. Executives aim to launch the public offering this year and hit a massive $100 billion stock market valuation. Chief Executive Masayoshi Son plans to use the money to cover heavy financial pledges made to ChatGPT creator OpenAI. The new business will focus heavily on...

Tech Giants Increase Artificial Intelligence Spending to $725 Billion

Key Points: The biggest technology companies raised their estimates for total artificial intelligence spending to $725 billion this year. Meta increased its spending budget to a maximum of $145 billion, causing its stock to fall 6%. Alphabet plans to spend up to $190 billion and saw its stock jump 7% after reporting strong cloud growth. Technology leaders believe the biggest risk right now involves spending...

LinkedIn Expects New Agentic AI Recruiting Tools to Generate $450 Million

Key Points: LinkedIn predicts its new agentic artificial intelligence hiring products will hit $450 million in sales next year. Microsoft rarely shares exact revenue numbers for specific software tools on the professional networking platform. The company built two distinct artificial intelligence systems to help both massive corporations and small businesses find workers. New Chief Executive Officer Dan Shapero said his team spent nearly a year...