Alphabet to raise $80bn from share sales to fund AI spending splurge – business live

Rolling coverage of the latest economic and financial news Anthropic confidentially files for initial public offering on US stock market A new economic alliance between the EU and like-minded Asian allies should be set up to save the world’s economies from “Trump shock”, a new report by Chatham House, the foreign affairs think tank, says. It was authored by Creon Butler , former director for international economic affairs in the National Security Secretariat in the UK cabinet office, and a “sous sherpa” at the G7 and G20 summits, He calls for a “third economic pole” initially be made up of EU countries and members of the Comprehensive and Progressive Trans-Pacific Partnership who are committed to following rules-based trade. The alliance should exclude the US and China as the former has made a dramatic break from rules while the latter has never fully committed to WTO rules, it argues. The report says : “China is far from the only country to behave this way but as the second largest national economy after the US, it has become a highly disruptive influence.” “It is likely only a matter of time before the full suite of Trump policies substantially reduces trend growth and economic stability in the US, and possibly the wider world.” “For hyperscalers, compute capacity is a direct driver of future revenue. “By leaning into equity, Alphabet is bringing in permanent capital rather than burdening a balance sheet already absorbing record capex [capital expenditure].” Continue reading...

Original source: Guardian