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Big Tech will spend nearly $700 billion on AI this year. No one knows where the buildout ends
Welcome to Eye on AI, with AI reporter Sharon Goldman. In this edition: SoftBank plans to list a new AI and robotics company in the US…AI model’s goblin habit, explained…Putting Google’s AI to the test as a trip planner. If Big Tech’s AI spending spree were like climbing Mount Everest, they would still be ascending…
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The startup that wants to give surgeons X-ray vision
“Have you ever seen a spine surgery before?” Over Zoom, James Hu asks me this sincerely, standing in the middle of a large white room that reads between clinical and stylized. I consider the question, not because I have, but because it occurs to me: I’ve perhaps never thought much about it at all, and…
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The $665 billion question: Will Big Tech’s AI gamble pay off?
In today’s CEO Daily: Diane Brady crunches the numbers from yesterday’s tech earnings bonanza. The big leadership story: Starbucks’ turnaround is starting to take hold. The markets: Down as oil hits a four-year high. Plus: All the news and watercooler chat from Fortune. Good morning. And you thought the dollar figures being tossed around by…
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How JPMorgan’s CIO is reshaping work at the bank with a $19.8 billion annual tech and AI budget
Lori Beer, the global chief information officer at JPMorgan Chase & Co., has a long checklist of questions as she navigates the proliferation of AI agents working alongside the banking giant’s sprawling workforce of 319,000. AI agents, Beer says, will change the way one thinks about work, the tasks to complete that work, how to…
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OpenAI is ‘strongly positioned,’ says Wedbush’s Dan Ives
Good morning. OpenAI is planning to spend as much as $600 billion on compute by 2030. Now, questions are emerging about whether its revenue can keep up. OpenAI reportedly missed its internal target of 1 billion weekly active users for ChatGPT by the end of 2025. As of February, the company had reached approximately…
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Exclusive: Vanta hits $300 million ARR as ‘shadow AI’ explodes across corporate America
Most corporate employees in America have likely signed up for ChatGPT. And Claude. And possibly Cursor. Their employer’s security team has no idea—or even if they do, they can’t keep up. This paradox is why Vanta is having a blockbuster year. The San Francisco-based security and compliance company has crossed $300 million in annual recurring…
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CEO turnover is up, and boards are favoring experienced insiders who can hit the ground running
In today’s CEO Daily: Diane Brady digs into the data behind recent chief executive churn. The big leadership story: GM’s hefty tariff refund is only part of the story. The markets: Mixed globally as Wall Street awaits Magnificent 7 earnings Plus: All the news and watercooler chat from Fortune. Good morning. You’re not imagining it:…
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Bloomberg, the OG of financial data firms, has a potent new AI agent. How it built it holds lessons for other companies
Hello and welcome to Eye on AI. In this edition…China blocks Meta’s purchase of Manus…OpenAI falls short of its revenue and growth targets…Anthropic shows AI models can help advance AI safety research…Sen. Bernie Sanders’ decision to invite Chinese AI experts to a Capitol Hill panel provokes China hawks’ ire. In their battle for enterprise sales,…
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How a Spanish startup pivoted to video AI and built a $230 million ARR business with no VC funding
Greetings, Tech Editor Alexei Oreskovic guest-writing your Term Sheet today. Silicon Valley likes to think of itself as the center of the tech universe, and San Francisco’s heavy concentration of AI companies is only reinforcing that habit. But innovation, creativity, and entrepreneurial acumen aren’t restricted by borders, as I was reminded when talking to Joaquín…
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The metrics driving Verizon’s turnaround
Good morning. Verizon is starting to show what happens when customer experience becomes a growth strategy. The telecom giant is in the midst of a multi-year transformation toward a leaner, AI-driven model. On the company’s Q1 earnings call Monday, Dan Schulman, chief executive since October, pointed to churn as “the clearest measure” of whether the…