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If Alphabet’s record-breaking $85 billion stock sale signals investor appetite for AI-related offerings — and it does — we can safely say that investors are voracious. Google’s parent company had initially intended to sell a first tranche of $40 billion worth of various equity instruments — two different classes of shares, plus smaller “depositary shares”…
Google and SpaceX are in talks to launch orbital data centers in space, reports The Wall Street Journal, citing sources familiar with the matter. The potential deal comes as SpaceX gears up for its $1.75 trillion IPO later this year, selling investors on the idea that data centers in space will be the cheapest place…
Sundar Pichai’s new pay package could be worth $692 million. Per a filing first spied by the FT, Alphabet has structured a three-year deal for its Google CEO that could make him one of the highest-paid executives on the planet — but most of it is tied to performance, including new stock incentives linked to…
Waymo, the Alphabet-owned autonomous vehicle company, has raised $16 billion as it plans to grow its fleet of driverless taxicabs this year to more than a dozen new cities internationally, including London and Tokyo. Dragoneer Investment Group, DST Global, and Sequoia Capital led the funding round, which now values Waymo at $126 billion, the company…
Google parent Alphabet has agreed to buy Intersect Power, a data center and clean energy developer, for $4.75 billion in cash, plus the assumption of the company’s debt. The acquisition, which was announced Monday, will help Alphabet expand its power-generation capacity alongside new data centers without having to rely on local utilities that are struggling…
After a two-week blackout, YouTube TV and Disney announced Friday that they have reached a deal. In addition to bringing Disney networks like ABC, ESPN, and FX back to YouTube’s streaming TV service, the deal will also see ESPN make its new direct-to-consumer service available on YouTube TV at no additional price. YouTube will also…
Alphabet hit just over $3 trillion dollars in market cap on Monday as investors continue to reward it after a federal judge declined to break the company up. On Sept. 2, U.S. District Court Judge Amit P. Mehta outlined softer-than-feared remedies for his year-ago ruling that Google maintained an illegal monopoly in search. The DOJ had proposed…
Google faces a new lawsuit accusing the company of illegally using news publishers’ content to create AI summaries that damage their business. The lawsuit comes from Penske Media Corporation (PMC), which owns industry publications such as Rolling Stone, Billboard, Variety, Hollywood Reporter, Deadline, Vibe, and Artforum. While Penske’s suit is the first to target Google…
Andrew Ferguson, the Trump-appointed chair of the Federal Trade Commission, recently expressed concern that “Alphabet’s administration of Gmail is designed to have partisan effects.” In a letter addressed to Alphabet CEO Sundar Pichai, Ferguson pointed to a recent story in the New York Post describing complaints by Targeted Victory (a consulting and PR firm that’s…
Alphabet’s life sciences arm Verily laid off staff and eliminated its entire devices program Monday. CEO Stephen Gillett announced the “difficult decision” to wind down the program in a staff memo, according to Business Insider. “Over the years, Verily has built a legacy in developing world-class, innovative medical devices,” Gillett wrote, noting that the “path…