Financial Performance - Alibaba's profit plunged more than 75% as quarterly capital expenditure for AI increased to almost $10 million [1] - Alibaba's cash flow turned negative to the tune of $6.6 billion, while its profit dropped 75% despite revenue growth [1] - Defense tech startup Castelion raised $1 billion in a Series C funding round, combining $800 million in equity and $250 million in a revolving credit facility, reaching a $13 billion valuation [23] - AI coding startup Cognition is in early talks for a new fundraising round at a valuation of at least $40 billion, up from $26 billion in May [21] - Robinhood's prediction markets business grew from virtually zero during the 2020 election to hundreds of millions, executing 6 billion contracts in July, representing a 20x year-over-year increase [3] Market Trends & Industry Dynamics - Technology stocks were down for a fifth straight session, and the 30-year Treasury yield moved higher following the Treasury's intervention in buying back longer-dated debt [1][14] - Walmart experienced its lowest U.S. growth in six years despite a strong focus on e-commerce, with its stock dropping almost 10% [1] - SK Hynix stock rose 150% year-to-date but pulled back 50% from its June high due to changing memory and semiconductor space demand [2] - Bitcoin surpassed $70,000 and reached $72,178 per token, supported by U.S. Treasury bond market intervention and a high-stakes meeting between President Trump and crypto industry leaders [3] - Massachusetts lawmakers are advancing legislation to establish stringent AI safeguards, requiring frontier models to undergo independent reviews every 180 days and forcing AI labs to file risk reports [56][57][59]

VC firm Mayfield says AI is making it easier than ever to launch a startup while raising the bar for building a winner. The firm's invested more than $3,000,000,000 in AI companies, much of it at the earliest stages. Joining us now is Mayfield managing partner Navin Chaddha.Navin, it's great to have you here with us. Absolutely. It's a delight to be here today.So so in a funny way, I wanna get straight to to returns. You know, if you've put $3,000,000,000 into early AI startups, how's that gone for you in t ...

Defense tech startup, Castellen Yeah. Has raised a billion dollars at a $13,000,000,000 valuation. The round combines 800,000,000 in equity and 250,000,000 committed to a revolving credit facility.The firm, which builds weapons and defensive systems, plans to use the funding to boost production of its Black Beard hypersonic missile system. Casillion's cofounder and CFO, Andrew Kreitz, joins us here in San Francisco. A big round, and and let's start there, the participants in it, and how it came together.Yea ...

Mehta has quietly become one of Microsoft's largest AI customers, spending hundreds of millions of dollars a year to access the Azure cloud service as meta consumes trillions of tokens via the platform. Circular business dealings remain a concern. Brady Forbes wrote this story.It's one of the most read all across different Bloomberg platforms. I heard that right. Meta is one of Microsoft's biggest customers.Explain. Yeah, it's kind of funny, right. I mean, it's it's this, uh, circular business dealings, as ...

Evergrande founder Hui Ka Yan has been sentenced to life in prison, bringing an end to one of the most dramatic rise and fall stories in China’s corporate history. Bloomberg's Trista Xinyi Luo has the details. -------- Like this video? Subscribe to Bloomberg Technology on YouTube: https://www.youtube.com/channel/UCrM7B7SL_g1edFOnmj-SDKg Watch the latest full episodes of "Bloomberg Technology" with Caroline Hyde and Ed Ludlow here: https://www.youtube.com/playlist?list=PLfAX25ZLrPGTygCwn55voYZ_LYyKjxokJ Get ...