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Rick Perry’s AI power startup Fermi already has a $16 billion market cap—and zero revenue

Backed by the former U.S. energy secretary and Texas governor Rick Perry, AI power startup Fermi Inc. went from nonexistent to an October IPO with a...

Business5 months ago

I’m the founder of a $1 billion travel unicorn. Here’s what growing up in hotel lobbies taught me about leadership

I never expected the hours I spent as a teenager behind hotel reception desks would one day help me build a $1 billion traveltech company. I...

Elizabeth Warren accuses Trump of betraying farmers and 'putting himself and his billionaire buddies first' with $20 billion Argentina bailout

Business5 months ago

Elizabeth Warren accuses Trump of betraying farmers and ‘putting himself and his billionaire buddies first’ with $20 billion Argentina bailout

The United States directly purchased Argentine pesos on Thursday and finalized a $20 billion currency swap line with Argentina’s central bank, Treasury Secretary Scott Bessent said in a...

Exclusive: Coinbase and Mastercard have both held advanced talks to buy stablecoin startup BVNK for around $2 billion

Business5 months ago

Exclusive: Coinbase and Mastercard have both held advanced talks to buy stablecoin startup BVNK for around $2 billion

Almost one year after the fintech giant Stripe struck a $1.1 billion deal to acquire the stablecoin startup Bridge, two other big corporate players want to...

News5 months ago

US buys Argentine pesos, agrees to $20 billion swap line, Bessent says

U.S. Secretary of the Treasury Scott Bessent leaves the Economy Ministry building, days after Argentine President Javier Milei’s administration sealed a new loan deal with the...

Business5 months ago

Governments weighing crypto reserves target $75 billion pot

Donald Trump has spearheaded a global push by governments to establish a strategic crypto reserve using assets seized from criminals, betting that the rising value of...

Business5 months ago

As AI bubble warnings mount, a 23-year-old’s $1.5 billion hedge fund shows how prophecy turns into profits

Welcome to Eye on AI, with AI reporter Sharon Goldman. In this edition…the rise of Leopold Aschenbrenner, a 23-year-old AI researcher turned hedge fund manager…the IMF...

News5 months ago

Hang Seng Bank shares jump 30% on parent HSBC’s privatization bid, valuing it at over $37 billion

Two HSBC bank logos are displayed on an office building in Mexico City, Mexico, July 25, 2025. Henry Romero | Reuters Hang Seng Bank shares jumped...

Business5 months ago

Inside PepsiCo’s beverage overhaul: a Gatorade reboot, the $2 billion Poppi buy, and a gut-health play, all under activist scrutiny

As a trained engineer, Ram Krishnan loves to nerd out on the science of Gatorade. The CEO of PepsiCo’s U.S. Beverages division wants to know things...

Business5 months ago

How former OpenAI researcher Leopold Aschenbrenner turned a viral AI prophecy into profit, with a $1.5 billion hedge fund and outsized influence from Silicon Valley to D.C.

Of all the unlikely stories to emerge from the current AI frenzy, few are more striking than that of Leopold Aschenbrenner. The 23-year-old’s career didn’t exactly...