Big Tech Makes the Case for Open-Weight AI | Bloomberg Tech 7/24/2026

Artificial Intelligence & Technology Sector - Technology companies, CEOs, and venture firms formed a coalition urging Washington to embrace open-weight AI models to support American competitiveness, innovation, and national security[2][3] - Chinese open-weight models like Moonshot and Kimi K3 raised concerns in Washington due to competitive pricing and potential unauthorized distillation of U.S. models, affecting return on investment for billions poured into AI infrastructure[4][5][9][10][49][63] - Blackrock began marketing 12.3 billion dollars in high-grade bonds to fund a Meta data center project, testing investor appetite amid concerns over excessive AI infrastructure spending[37] - Cerebras Systems and AMD partnered on a new server design combining Helios and Cerebras servers to accelerate inference processing, targeting rapid response times and high throughput[64][66] Semiconductor & Hardware Industry - Intel reported stronger-than-expected forecasts driven by AI data center demand for CPUs, while its stock fell 3% after initial after-hours gains, with foundry margins heading toward breakeven and targeting 15 billion dollars in revenue by 2030[11][13][17] - Intel's capital expenditures are projected at more than 20 billion dollars, growing over the next couple of years with a focus on tool capacity and yield improvements[18][19] - SpaceX is reportedly fully booked through 2028 and is turning away potential Falcon 9 customers as it shifts resources toward its next-generation Starship rocket for space data centers and deep space missions[42][43][46] Biotechnology & Investment Markets - Scribe Therapeutics, co-founded by Nobel Prize winner Jennifer Doudna, completed an IPO priced at 15 dollars a share and indicated to open at approximately 29 dollars a share, focusing on non-permanent epigenetic editing to treat cardiovascular diseases[23][25][35] - Viking Global Investors managed 56 billion dollars in assets while reporting a conservative first-half return of 2.6%, trailing peers due to cautious positioning and concerns over high AI stock valuations[83][84]