Tag: Financial Times

BusinessStartups

Prominent European VC Lakestar Shifts Strategy, Halts External Fundraising

Veteran investor Klaus Hommels’ Lakestar is reportedly shifting its strategy away from external fundraising. The firm plans to concentrate on maximizing returns from current investments while supporting internal entrepreneurial ventures.

Strategic Shift for European Venture Capital Leader

Lakestar, one of Europe’s most prominent venture capital firms known for early investments in Spotify and Revolut, is reportedly planning to stop raising external capital, according to sources familiar with the matter. The firm, founded by veteran investor Klaus Hommels, intends to focus on maximizing returns from its existing portfolio while maintaining flexibility to pursue selective new opportunities.

by Elisa Romero
Economy and TradingEnergy

Global Oil Supply Crisis Looms as Industry Investment Declines, Aramco Chief Warns

The head of Saudi Aramco has issued a stark warning about potential global oil shortages as industry investment in exploration continues to decline. With shale production expected to plateau and demand remaining robust, experts suggest the world could face significant supply challenges by 2040.

Oil Industry Faces Supply Crunch After Decade of Underinvestment

The chief executive of Saudi Aramco, Amin Nasser, has issued a stark warning about potential global oil shortages, citing what sources indicate has been a decade of inadequate investment in exploration and production. According to reports, Nasser called for renewed spending as global oil demand continues to grow while current investment levels remain “extremely low.”

by Nathan Cole
AI ImpactBusiness Software

OpenAI Faces Financial Strain as ChatGPT Usage Soars but Paying Users Lag

OpenAI is reportedly losing billions while ChatGPT dominates generative AI traffic. Despite 800 million users, only 5% pay for subscriptions, creating financial challenges. The company plans trillion-dollar partnerships despite mounting losses.

OpenAI’s Financial Challenges Amid ChatGPT Dominance

OpenAI is facing significant financial pressure despite ChatGPT’s massive popularity, with reports indicating the company is losing approximately three times more money than it earns. According to analysis of recent financial disclosures, 95% of ChatGPT’s 800 million users aren’t paying for the service, despite the platform generating roughly 70% of OpenAI’s recurring revenue.

by Nathan Cole
AI ImpactComputer Hardware

OpenAI Broadcom Partnership: $350B AI Hardware Deal Targets 10GW Accelerators

OpenAI announced a massive partnership with semiconductor giant Broadcom for 10 gigawatts of custom AI accelerator hardware. The deal, estimated at $350-500 billion, represents OpenAI’s latest infrastructure investment to support next-generation AI models. Deployment begins in 2026 across OpenAI and partner data centers.

OpenAI has formed a strategic partnership with semiconductor company Broadcom to develop and deploy 10 gigawatts worth of custom AI accelerator hardware, marking one of the largest AI infrastructure deals in history. According to recent analysis by the Financial Times, the collaboration could cost OpenAI between $350 billion and $500 billion, though official terms remain undisclosed. The custom AI accelerator racks will begin deployment in 2026 and continue through 2029 across OpenAI’s data centers and partner facilities.

Strategic AI Hardware Collaboration Details

by Nathan Cole