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Archive

Every edition of the paper, newest first.

  1. Tuesday8 stories
    A tall dark glass office tower at night under an overcast blue-black sky, every floor dark except one band of warmly lit windows near the top, its dark lobby at street level beside trees and streetlamps, and a wet street in the foreground with the blurred red tail lights and headlights of passing cars reflected on it.The OfferingAnthropic’s Emailed IPO Pricing Was Retracted, Reuters SaysReuters reported an email to banks showing $70 to $80 a share, up to $69.3 billion; a second email called the pricing inaccurate. Those figures remain unfiled.
  2. Monday7 stories
    Empty high-backed dark leather chairs stand around a long, dark polished boardroom table at night, a few closed folders, glass tumblers of water and a dark bowl on it under one low pendant lamp that casts a warm pool of light, a wall of tall windows behind showing the blurred lights of office buildings and streetlamps among trees, and the back of an empty chair at the near end in shadow.The InquiryNvidia’s Board Orders an Inquiry After Reports on HuangNvidia’s board will investigate reports that Jensen Huang was the target of a foreign intelligence effort; the shares were about 4 percent lower before Monday’s open.
  3. Sunday8 stories
    A row of tall steel lattice transmission towers carries high-voltage lines across a flat, harvested field at dusk, the towers dark against a band of orange light low in the sky, toward a long, low, windowless grey building with boxy mechanical units along its flat roof on the horizon at right, the field of short stubble dark in the foreground.The Lame DuckA Monday Senate Test for Making Data Centers PaySenators reworked a permitting bill that would make data centers pay for their grid upgrades; its first test, needing 60 votes, comes at 5:30 p.m. Monday.
  4. Saturday7 stories
    A long, polished dark-wood conference table is set with closed dark leather folders and glasses of water before empty black leather chairs, a glass carafe midway along, in a high-floor meeting room where low morning sun from tall windows on the right throws long shadows across the table, hazy office towers beyond the glass and a dark painting and a vase of greenery against the panelled far wall.The LabsRout Is Said to Lower Sights at OpenAI and AnthropicOpenAI closed about $11 billion at a $1.25 trillion valuation, and would-be buyers of Anthropic’s IPO are discussing $1.2 trillion to $1.3 trillion, Bloomberg reported, citing unnamed people.
  5. Friday6 stories
    A hand in a white cleanroom glove, the sleeve of a white cleanroom suit rising from the lower left, holds up a polished silicon wafer whose fine grid of dies shimmers orange, green and violet, under the amber light of a cleanroom with tool housings out of focus behind.The RoutThe Whole AI Trade Falls; Chips Lose 12 PercentThe chip index fell 12.25 percent Thursday and the Nasdaq 5.52 percent, its worst day since April 2025, CNBC reported; Seoul’s Kospi tripped a circuit breaker Friday.
  6. Thursday7 stories
    Three tower cranes stand in silhouette over the bare steel columns and roof trusses of a long, low half-built building against an orange and blue dusk sky, its far end clad in grey panels, an excavator and a white pickup truck parked small on the wide graded earth and gravel in front.The Midterm TradeWall Street Splits the AI Trade in TwoMicrosoft rose 6.68 percent and Vistra fell 13.83 percent as investors bet that Democratic wins would make data-center capacity already in hand worth more.
  7. Wednesday8 stories
    Three workers in dark clothes, seen from behind at a distance, feed sheets of paper into grey scanning machines on long folding tables in a fluorescent-lit office at night, stacks of white paper beside them and a wall of dark windows onto a city at night behind, a plain grey carpet in front.The MidtermsTexas Elects a Governor Who Would Pause Data CentersDemocrats took Congress, and Texas, with about 27 percent of U.S. data-center capacity by Wells Fargo’s estimate, elected a governor who promised a moratorium.
  8. Tuesday8 stories
    Rows of boxy cooling units with round fan housings stand dark against a hazy orange and blue dusk sky on the flat roof of a data center, a faint vapor rising from some of them, a low city skyline with a few lit windows in the distance and the empty grey roof membrane in front.The OfferingAnthropic’s Growth Slows to 47 Percent as Compute BitesAnthropic’s amended prospectus puts third-quarter revenue at $16.96 billion, up 47 percent from the second, with a $567 million operating loss on costly short-term compute and donation charges.
  9. Monday8 stories
    A wide elevated walkway with glass-and-steel railings runs straight between tall glass office towers at dusk, rows of lit office windows on both sides under a deep blue sky, a few commuters in dark coats walking away far down the deck, the paved foreground empty.The OfferingAnthropic Seeks Up to $3.5 Billion From Japanese InvestorsAnthropic plans to raise up to $3.5 billion in Japan, reports of a filing say; investors’ view of a fair valuation has slipped to $1.4–1.5 trillion, Bloomberg reports.
  10. Saturday8 stories
    A wide concrete aisle runs between two rows of tall chain-link cages in a data hall, the nearest gates fastened with steel padlocks, black server racks dotted with small green and blue lights visible through the mesh, under long ceiling lights and cable trays.The StakesAmazon’s Lab Stakes: Anthropic $238.7 Billion, OpenAI $50 BillionAmazon’s quarterly report carries its Anthropic notes and shares at $238.7 billion, by our sum, against $18 billion put in, and records $50 billion invested in OpenAI.
  11. Friday8 stories
    A row of long, low, windowless concrete buildings under construction, one still an open steel frame, recedes across a flat plain toward the low sun at dawn, a yellow tower crane standing beside the nearest, with stacks of steel beams lying on muddy, puddled ground in the foreground.Capital SpendingAmazon Spends $77 Billion in a Quarter and BorrowsAmazon spent $77.3 billion on property and equipment last quarter, a high for the four big AI spenders, and borrowed $48.1 billion as its free cash flow sank.
  12. Thursday8 stories
    Tall black server racks wrapped in clear plastic film, with cardboard corner boards and black strapping, stand on wooden pallets in two long rows down a warehouse aisle, daylight falling from high windows along the left wall onto a bare grey concrete floor.Cash FlowAlphabet Sells Its Chips and Outspends Its Cash FlowAlphabet’s spending left free cash flow negative for a second quarter, at minus $9.1 billion, as Google Cloud doubled; its shares fell about 10 percent after hours.
  13. Wednesday8 stories
    Translucent wafer carrier pods, the stacked wafers visible inside, hang from small carriages on two overhead rails running the length of a clean room under amber light, above two rows of pale boxy process tools with dark carrier boxes on their load shelves and a perforated floor down the aisle between them.MemorySK Hynix Posts Record 83.3 Trillion Won Operating ProfitSK hynix made 83.3 trillion won of operating profit in the third quarter, an 80 percent margin, and expects demand for memory to exceed supply through 2030.
  14. Tuesday8 stories
    Two stacks of bound documents in plain grey and cream covers sit on a long, dark polished table in an empty boardroom, black leather chairs pushed in along both sides, its floor-to-ceiling windows looking out over a hazy city skyline in pale dawn light.The OfferingAnthropic Files to Go Public, Founders Holding the VoteAnthropic’s prospectus, filed Monday for a Nasdaq listing as ANT, shows a $974 million second-quarter operating profit and gives its seven co-founders 50.1 percent of the vote.
  15. Monday8 stories
    Five pallets stacked with plain cardboard boxes and wrapped in clear plastic film stand on a concrete loading dock under orange sodium light at night, beside an open roll-up door onto darkness, with empty floor in shadow in front of them.CreditMusk Says SpaceX Closed $40 Billion; Predicts Neocloud ShakeoutElon Musk says SpaceX closed $40 billion of debt for AI chips and that lenders have all but shut out neoclouds; Bloomberg’s unnamed sources say it hadn’t priced.
  16. Sunday8 stories
    An old, mud-spattered dark pickup truck stands on a waterlogged farm track in a flat, bare field at dusk, a large searchlight mounted in its bed throwing a pale beam up into a heavy overcast sky, with leafless trees on the horizon.UkraineMusk Says Ukraine Broke Starlink’s RulesElon Musk said Ukraine’s military broke Starlink’s terms with “offensive drone strikes” and that Washington controls Starshield, hours after Kyiv said both worked above 400 kilometers an hour.
  17. Saturday8 stories
    In the middle of a large, dim industrial hall with high windows, a glass-walled room encloses a single row of server racks dotted with blue lights, their glow reflected on the bare concrete floor in front of it.SafetyOpenAI Takes Its Frontier Training Off the InternetOpenAI now trains its frontier models with no internet access, after an 11-day pause; Britain’s AI Security Institute and Anthropic detailed how Mythos 5 pressured a real maintainer.
  18. Friday8 stories
    A worker in a hard hat and gray coveralls, seen from behind on a scissor lift, works beside the nearest of a row of large gray gas-turbine casings resting on steel cradles down a long factory hall, rings of blades visible inside the open casings and an overhead crane above.The AI TradeFrom Chips to Turbines, the AI Trade Sells OffThe chip index fell 6.72 percent, its worst day since June, GE Vernova fell 10.64 percent, and Nvidia’s chief executive said capital, not demand, was scarce.
  19. Thursday8 stories
    The bare steel frames of long, low halls stand on a cleared site under two yellow tower cranes, the sun low on the horizon behind them; in front, grey electrical transformers and wooden cable reels sit on gravel, and five workers in high-visibility vests stand far off to the right.The AI TradeMeta Outspends Its Cash Flow, Readies Stock to SellMeta’s capital spending, $34.9 billion last quarter, outran the cash its business brought in, and it is creating a non-voting stock it expects to sell.
  20. Wednesday8 stories
    A long row of grey gas-turbine enclosures, each with a tall steel exhaust stack, some trailing smoke, stands on gravel beside a long, windowless concrete hall at dusk, behind a chain-link fence and a cable tray.The AI TradeSpaceX’s AI Turns a Profit; Spending to Nearly DoubleSpaceX’s AI segment made an operating profit of $431 million on $7.56 billion of revenue; SpaceX expects capital spending of $35 billion to $40 billion this quarter.
  21. Tuesday8 stories
    At dusk a crane’s hook and block hang still on their cables over a slab laid with rebar and puddles, in front of the unfinished concrete walls and bare steel roof trusses of a long hall lit by a single work light.The AI TradeAI Stocks Bounce; Lenders and Asia Don’t FollowThe chip index rose 1.61 percent Monday, ending an eight-session slide, but CoreWeave’s bonds still yield near 15 percent and Seoul’s Kospi fell 3.73 percent Tuesday.
  22. Monday8 stories
    In a darkened open-plan office at night, one man in a hooded sweatshirt works at a laptop partway along a long bench of desks lined with empty black chairs, city lights showing through tall windows behind him.The Public ShareAnthropic Pledges 5 Percent of Itself to a FundAnthropic pledges 5 percent of its shares to a fund it would wholly own, subject to stockholder approval; Elon Musk answered with a SpaceX pledge.
  23. Sunday10 stories
    Two technicians in white cleanroom suits walk down a long bay of tall lithography tools under amber light, an overhead rail running the length of the ceiling.The Chip RoutChip Stocks Fall Eight Days Running; AI Lenders BalkChip stocks fell eight straight sessions in a week of record results from TSMC and ASML, as lenders demanded far more to finance AI’s heavily indebted builders.