Peter Andringa / Financial Times: Documents and former US government officials detail ICE's digital surveillance capabilities, amid a drive to deport 1M people in President Trump's first year — The US is pulling in vast amounts of personal information in its drive to deport 1mn people this year
Financial Times: Big Tech's AI data center plans, which are set to need an estimated 44GW of additional capacity by 2028, face a power crunch that could deflate the AI “bubble” — A lack of electricity for new data centres could deflate the AI ‘bubble’ — Rafe Rosner-Uddin in San Francisco …
Financial Times: UK pension funds are cutting exposure to US equities over worries about growing concentration in a few tech stocks and a potential bubble in the AI sector — Public and private-sector funds concerned over market's growing concentration in a small number of tech stocks
Daniel Thomas / Financial Times: Getty CEO Craig Peters says Getty may rethink its UK presence if the CMA blocks its Shutterstock deal, arguing the CMA is overlooking AI's impact on imaging — CEO says competition watchdog is overlooking how quickly AI is reshaping image generation — Getty Images boss Craig Peters …
Financial Times: OpenAI's data center partners are set to rack up nearly $100B in debt; sources say banks may lend another $38B to Oracle and Vantage to build more OpenAI sites — Cloud companies and developers rely on lossmaking start-up to repay huge loans — OpenAI's data centre partners are on course …
Jamie Smyth / Financial Times: Amazon-backed nuclear reactor developer X-energy raised $700M led by Jane Street, taking its total funding to $1.4B, to build 150 SMRs in the US and the UK — Reactor developer closes fundraising round as markets expect atomic energy will power the AI boom
Financial Times: The UK announces a £100M plan to support local AI hardware startups via guaranteed “first customer” payments, and estimates its AI market to be worth over £72B — Liz Kendall unveils plan to offer guaranteed payments for British start-ups making AI hardware
Joe Miller / Financial Times: Josh Hawley, Ron DeSantis, Sarah Huckabee Sanders, and other Republicans publicly oppose President Trump's proposal to restrict US states from regulating AI — US president endorses move to restrict regulation by states after lobbying from Silicon Valley — A plan backed by Donald Trump …
Louis Ashworth / Financial Times: As OpenAI commits to spending $1.4T, creating a mesh of complicated deals, the startup does not disclose its auditor, and there is little information online — OpenAI is committed to spending about $1.4 trillion on data centres over the next decade or so. — It accounts for about two-thirds …
Financial Times: Sources: Larry Ellison is overhauling a £10B science initiative in Oxford after clashing with President John Bell, who left in September, and COO Lisa Flashner — Trump-supporting billionaire narrows EIT's ambitions by cutting initiatives and tightening control
Financial Times: Sources: Vinted is exploring a share sale that could value the company at ~€8B; Vinted says it expects 2025 revenue to cross €1B+, up from €813M in 2024 — Deal would highlight second-hand fashion start-up's rapid expansion and provide an exit for some early investors
Financial Times: Sources: Apple is intensifying CEO succession planning as Tim Cook, now 65, may step down as early as next year, with John Ternus seen as the likely successor — iPhone maker's board is preparing for its longtime leader to step down as early as next year — Apple is stepping …
Financial Times: Oracle shares are down nearly 30% in the past month, reversing more than $250B in market value gains following the announcement of its OpenAI deals in September — Larry Ellison's software company falls more than rivals over its borrowing and reliance on OpenAI contracts
Nikou Asgari / Financial Times: Kraken co-CEO Arjun Sethi criticizes UK crypto promotion rules requiring clear risk warnings, saying they hinder retail investors by slowing fund movement — Arjun Sethi says users are hindered by dire warnings and hurdles that slow down transactions — The head of crypto exchange Kraken …
Financial Times: Sources: Meta Chief AI Scientist Yann LeCun plans to leave Meta in the coming months to found his own startup; a source says he is in early talks to raise funds — Turing Award winner seeks to depart as Mark Zuckerberg makes ‘superintelligence’ push — Melissa Heikkilä in London …
Financial Times: Robinhood CEO Vlad Tenev says he aims to give “normal people” exposure to private AI companies via Robinhood Ventures' fund with 5+ “best in class” companies — CEO Vlad Tenev plans to offer shares in a fund that holds a handful of private artificial intelligence companies
George Hammond / Financial Times: Sources: Roelof Botha was ousted by senior Sequoia partners amid concerns about his “imperial style” leadership, AI investment strategy, and internal clashes — Partners called vote to oust chief after controversial incidents rocked Silicon Valley venture capital firm
Barbara Moens / Financial Times: Draft proposal: the EU weighs a pause and simplification of parts of the AI Act, with a decision expected on November 19, amid pressure from Big Tech and the US — Commission proposes pauses to provisions in digital rule book — The European Commission is proposing a pause to parts …
Financial Times: Jensen Huang warns “China is going to win the AI race”, after the US kept a ban on high-end AI chip sales to China, and says the West is held back by “cynicism” — CEO criticises western ‘cynicism’ while Beijing loosens regulations and cuts energy costs for data centres
Financial Times: Sources: Deutsche Bank is exploring ways to hedge its exposure to data centres after extending billions of dollars in debt to hyperscalers like Alphabet — Executives discussing options including shorting basket of artificial intelligence stocks or using derivatives to transfer risk
Financial Times: Uber reports Q3 revenue up 20% YoY to $13.5B, Gross Bookings up 21% YoY to $49.7B, trips up 22% YoY to 3.5B, and a $1.1B operating profit, below $1.6B est. — Ride-hailing company reassures investors that it enters busy festive period with ‘exceptional momentum’
Financial Times: Sources: China offers to cut data center power bills by up to 50% to Alibaba and others, if they use local chips like Huawei's over foreign ones like Nvidia's — Beijing introduces grants that slash power bills by up to half for some of the country's largest data centres
Dan Thomas / Financial Times: Ofcom chief Melanie Dawes warns social media companies to prove their algorithms protect under-18s from seeing harmful content, or face enforcement action — Ofcom chief Melanie Dawes reveals she held meetings with US AI firms over Online Safety Act — Tech companies will be subject …
Cristina Criddle / Financial Times: Character.ai plans to limit under-18s to two hours of conversations per day, gradually reducing the time limit before banning them completely from November 25 — Move comes following growing public and regulatory scrutiny over safety of the technology for young users
Tim Bradshaw / Financial Times: Substrate, which aims to challenge TSMC, raised $100M+ from Founders Fund, General Catalyst, and others at a $1B+ valuation as it seeks to boost US chip making — Substrate plans to use particle accelerators to lower cost of chip manufacturing — Silicon Valley investors …
Hannah Murphy / Financial Times: Sources: X's advertising chief John Nitti, who joined in January, has left; X's CFO Mahmoud Reza Banki left in early October after less than a year in the role — John Nitti was considered a contender for CEO of the social media platform after Linda Yaccarino quit in July
Christian Davies / Financial Times: South Korea restricts travel to Cambodia over online scam center kidnappings; the UK and US sanction Cambodia's Prince Group for allegedly running scam centers — Seoul says 330 of its nationals detained or abducted in the first eight months of this year — South Korea has prohibited …
Financial Times: HR software startup Deel raised $300M led by Ribbit Capital at a $17B valuation, up from $12.6B earlier in 2025, and says revenue crossed $100M in September — HR start-up raises $300mn from Ribbit, Coatue and Andreessen amid espionage allegations from rival Rippling
Financial Times: An investment consortium including BlackRock, Nvidia, xAI, and Microsoft plans to acquire Texas-based Aligned Data Centers from Macquarie in a $40B deal — Buyer consortium also includes Nvidia and Microsoft and plans to expand Aligned Data Centers to meet computing demand
Financial Times: The Dutch seizing Nexperia from Wingtech is a landmark moment, showing it made a mistake allowing its sale and how ensnared the EU is in the US-China tech war — The Dutch seizure of Nexperia shows how ensnared the EU is in the US-China tech war — The Dutch government's seizure …
Tim Bradshaw / Financial Times: UK startup Nscale signs an up to $14B deal with Microsoft to deploy ~104K Nvidia GB300 chips for Microsoft in Texas within 18 months and 12,600 GPUs in Portugal — Nvidia-backed AI cloud group secures huge new contract as chief executive eyes public listing in ‘back end of next year’
Financial Times: Court filings: the Dutch government seized Nexperia after the US said it would remain on its export control list if Chinese CEO Zhang Xuezheng stayed in charge — Takeover of Nexperia plunges Netherlands into US-China tech war — Andy Bounds in Horsens, Denmark, Ben Hall in London and Ryan McMorrow in Beijing
Financial Times: Sources: Bank of England officials are holding up Revolut's full UK licence over concerns about whether its risk controls can keep pace with its global growth — Europe's most valuable start-up has waited years for approval to begin lending in its home market
Financial Times: Sources: London-based self-driving tech startup Wayve is in early stage talks with Microsoft and SoftBank to raise between $1B and $2B, valuing it at ~$8B — London-based group seeks valuation of $8bn as global investors snap up deals with fast-growing AI start-ups
Financial Times: Sources: UK security services including MI5 step up work with the country's largest companies over hacking fears and to improve UK cyber warfare preparedness — High-profile hacks raise fears about the potential economic damage caused by disruption to supply chains and services
Michael Acton / Financial Times: Inside Intel's new 700-acre factories in the Arizona desert, which cost $32B and are starting large-scale 18A chip production, as it seeks to impress customers — Claims of a breakthrough at the chips company's new Arizona facility will be tested by sceptical Big Tech customers
Barbara Moens / Financial Times: Sources: Meta and Apple are close to settling two EU antitrust cases and agreeing to a deal to change their business practices after a total €700M in DMA fines — US Big Tech groups in final stages of agreeing deal with Brussels to avoid series of escalating fines
Financial Times: OpenAI's deals with Nvidia, AMD, Oracle, and others for computing power have topped $1T, dwarfing its revenue and raising questions about how it can fund them — Partners including Nvidia, AMD and Oracle have signed up to Sam Altman's huge bet on the future of artificial intelligence
Financial Times: Qualtrics agrees to acquire Press Ganey Forsta, which helps healthcare companies compile feedback from patients and doctors, for $6.75B including debt — Deal is latest in busy stretch for private equity-backed software and healthcare-focused technology businesses
Ellesheva Kissin / Financial Times: Deloitte says it will partially refund payment for an AU$439K Australian government report that contained multiple errors and was partly produced by AI — Big Four firm will repay final instalment after incorrect references and citations found in document — Deloitte will partially refund payment …
Financial Times: AstraZeneca signs $555mn AI deal to develop gene-editing therapies — Pharmaceutical company is latest to invest in artificial intelligence to speed drug development — AstraZeneca has signed a $555mn deal with a San Francisco-based biotech business that specialises in artificial intelligence …
Financial Times: Sources: Oaktree, EQT, DWS, and other private capital groups are seeking to cash in on the US-driven AI boom, launching €17B of European data center sales — Oaktree Capital, Partners Group and EQT among those seeking to cash in on AI boom — Private capital firms are seeking to cash …
Financial Times: Tech companies in the UK, Canada, and elsewhere seek talent amid the US H-1B clampdown, though some skeptics doubt Trump's policies will spur a tech boom abroad — Companies in the UK, Canada and elsewhere hope to attract more skilled workers — Rafe Rosner-Uddin in London …
Financial Times: A draft proposal outlines the European Commission's “Apply AI strategy”, which is set to be presented on October 7 and aims to “strengthen EU AI sovereignty” — Brussels to unveil plan targeting digital sovereignty as it warns technology can be ‘weaponised’ by geopolitical rivals
Financial Times: Sources: OpenAI and Jony Ive have yet to solve key technical and software issues that could delay the company's palm-sized device, slated for release in 2026 — ChatGPT maker is working with former Apple design boss to launch a palm-sized personal assistant next year
John Burn-Murdoch / Financial Times: GWI: Time spent on social media globally peaked in 2022 and is steadily declining; North America is the exception, with usage up 15% in 2024 compared to Europe — As platforms degrade into outrage and slop, users are turning away — In years to come, we may well look back on September 2025 …
Gregory Meyer / Financial Times: Walmart plans to attach sensors to the 90M grocery pallets it ships each year to its 4,600-store US chain by the end of 2026; tracked items include perishables — Retailer expands use of devices to monitor 90mn pallet deliveries a year from warehouses to its 4,600 US outlets
Financial Times: Asahi says most of its 30 factories in Japan have not operated since September 29 following a cyberattack, leaving Japan with just days of Asahi Super Dry stock — Vast majority of factories of nation's most popular beer have stopped work this week — Japan is just a few days away …
Financial Times: VW revives its struggling software unit Cariad after a “complete reset” of its strategy, including partnerships with Xpeng in China and Rivian in the US — Carmaker hails ‘massive transformation’ in software unit as it seeks to take on Tesla and Chinese EV rivals
Financial Times: Sources: Elon Musk's Tesla and xAI have had a wave of senior departures over the past year, driven by burnout, disillusionment with Musk's politics, and more — Churn at Tesla and xAI comes amid disillusionment with billionaire's activism, strategic pivots and mass lay-offs