A Thomson Reuters representative stated, "We are concentrating our resources on what matters most to our clients." This move to cut 500 roles aligns with the company's increasing adoption of artificial intelligence technologies. For more details, visit the original article.
Revolut, Stripe, UniCredit, Deutsche Bank, and SumUp have been chosen to participate in an upcoming pilot project for the digital euro. This initiative is scheduled to begin in the latter half of 2027 and aims to explore the use of the digital euro across various payment platforms.
Kalshi, a prominent prediction markets exchange, has developed a forward curve that monitors the future pricing of computing power. This move places Kalshi among a growing number of exchanges and index creators focused on standardizing GPU rental costs into financial products. Their system leverages weekly and monthly event contracts linked to compute prices, projecting trends up to a year ahead. This innovation is part of a broader effort to transform GPU compute power into a tradable commodity.
IBM announced preliminary results for the second quarter on Monday, reporting revenue of approximately $17 billion. This marks a 1% increase from the previous year but falls short of analysts' forecasted $18 billion. Following the announcement, IBM's stock dropped up to 17% in premarket trading, wiping out recent gains that were supported by positive analyst sentiment and a recent rally.
Anthropic has pledged $10 million CAD to support eight Canadian research institutions dedicated to advancing beneficial and responsible AI technologies. This funding covers collaborations with Canada's top regional AI institutes—including Amii in Edmonton, Mila in Montréal, and the Vector Institute in Toronto—alongside partnerships with healthcare and academic organizations such as CHEO Children's Hospital, the Centre for Addiction and Mental Health, and Université Laval.
Hugging Face CEO Clem Delangue highlights a growing trend where enterprises are favoring open AI models over frontier models. This preference is driven by considerations of cost efficiency, easier accessibility, and the advantages of ownership. The key question remains whether frontier models retain their importance when most production AI applications operate on open-source alternatives.
Reflection AI has entered into a $1 billion agreement to utilize Nebius' advanced computing resources. Established in 2024, Reflection AI focuses on developing open-source artificial intelligence technologies, aiming to push the boundaries of innovation in the AI field.
Adam Mosseri, head of Instagram, anticipates that companies will soon manage AI token usage similarly to payroll or other operational costs. He suggests that engineers might face restrictions on the amount they can spend when using AI tools to keep budgets under control.
DeepSeek, the Chinese developer specializing in large language models, is reportedly gearing up for an initial public offering in 2027. The company aims to secure approximately $1.5 billion in new investment, valuing the business at around $71 billion.
Demis Hassabis, CEO of DeepMind, has suggested establishing an autonomous standards organization similar to FINRA. This body would be responsible for testing cutting-edge AI models and creating guidelines to ensure their responsible deployment.
