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Builder.ai, the British artificial intelligence startup backed by Microsoft Corp. and the Qatar Investment Authority, is filing for bankruptcy. Viola Credit, which provided $50 million in debt to the software firm last year, has seized $37 million from Builder.ai’s accounts, leaving the company with $5 million, Chief Executive Officer Manpreet Ratia said. The proceedings mark a stunning fall from grace for a company that two years ago raised a $250 million funding round led by QIA, one of the world’s biggest sovereign wealth funds. | |
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Residents in the West Texas town of Abilene, about 180 miles west of Dallas, aren’t quite sure what to make of OpenAI’s massive AI data center now under construction, Emily Chang reports in today’s Tech In Depth. But they’re cautiously hopeful that the megafactory of the future will generate jobs and economic development, she writes. Get the Tech In Depth newsletter for analysis and scoops about the business of technology from Bloomberg’s journalists around the world. | |
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One of David Zaslav’s moves when he created Warner Bros. Discovery in 2022 was to dump the HBO brand from its streaming service and cancel a subscription offering from CNN, writes Lucas Shaw in this week’s Screentime. It has taken Zaslav a while, but now he’s reversing those decisions — based on the data, Shaw writes. Sign up for the Screentime newsletter, your front-row seat to the collision of Hollywood and Silicon Valley. | |
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