Jefferies: Tether, which said it held 116 tons of gold in September, is "the largest holder of gold outside central banks", buying 26 tons in Q3 and 24 in Q2 (Bryce Elder/Financial Times)
Tech companies are increasingly turning to GPU-backed debt, a model pioneered by CoreWeave, using SPVs to shift debt off their balance sheets (Michelle Chan/Financial Times)
https://www.ft.com/content/3ea1c95d-468e-4cc6-a221-492243e48a5b
Analysis: super PACs for and against AI regulation have raised $265M ahead of the midterms, with pro-AI groups significantly outraising pro-regulation groups (Financial Times)
https://www.ft.com/content/c1823595-d0f6-49a4-8a10-3d91c92da8f6
Sources: Alibaba and ByteDance are among the top Chinese companies training their latest LLMs in Southeast Asian data centers to access Nvidia's AI chips (Financial Times)
https://www.ft.com/content/96fe9898-a3a4-4a33-be1d-da06bdb6cb2b
Several UK consultants have left large firms to start AI consultancy startups, as growth in the country's AI consulting sector outpaces the broader market (Nick Huber/Financial Times)
https://www.ft.com/content/df068853-4bb9-4c5d-8aeb-f3d4b04157d1
UK online supermarket Ocado plans to cut ~1,000 jobs and restructure its automated warehouse tech business; Kroger and Sobeys exited their Ocado deals early (Philip Stafford/Financial Times)
https://www.ft.com/content/794fd9ce-d657-4ad1-abc8-6a50a221887f
Salesforce CEO Marc Benioff dismisses concerns of a "SaaS-pocalypse", saying companies like Anthropic use "a lot of SaaS because it just got better with agents" (Financial Times)
https://www.ft.com/content/b74b8227-d7cb-4976-ba95-a3a27b79cbdd
The EU opens a formal DSA investigation into xAI over Grok generating sexualized images of women and children; xAI faces fines of up to 6% of global revenue (Barbara Moens/Financial Times)
https://www.ft.com/content/f5ed0160-7098-4e63-88e5-8b3f70499b02
Digital Realty, QTS, and NTT Data warn the data center industry is doing a poor job of combating local opposition; 24 US projects were blocked in January alone (Rafe Rosner-Uddin/Financial Times)
https://www.ft.com/content/f45d45fc-c0ea-463c-8edf-38fb99ed5c05
A look at VW's robotaxi unit MOIA, which has 100 test vehicles across Germany, Norway, and the US, and plans to launch its robotaxis this year in LA with Uber (Financial Times)
https://www.ft.com/content/8ee5c17c-1eb2-41d6-9a7f-288ea9e66a45