OpenAI $300B Deal, Meta Engineers Launch Aurva, Tesla AI Contractors

The artificial intelligence sector is experiencing rapid growth and significant investment, with AI training startup Mercor reportedly seeking a $10 billion valuation. Mercor, which matches companies with specialized contractors for AI model training, has seen its annualized revenue run rate approach $450 million. The company supplies experts like scientists and doctors to major AI firms including OpenAI, Meta, and Tesla, and also serves Amazon and Google. However, Mercor faces a corporate espionage lawsuit from competitor Scale AI, alleging trade secret theft. Meanwhile, Oracle's stock has surged dramatically, with shares climbing significantly after reporting strong demand for its AI-driven cloud services. This surge is partly attributed to a reported $300 billion computing deal with OpenAI for AI data centers, a project also involving SoftBank and G42. Oracle projects its cloud infrastructure revenue to grow substantially, reaching $144 billion by fiscal year 2030, fueled by demand from major AI players. In the semiconductor space, Nvidia's stock has risen following the unveiling of its new Rubin CPX AI chip and a generally positive outlook for AI infrastructure spending. Other AI-related stocks like Broadcom have also seen gains. Data security startup Aurva, founded by former Meta engineers, has secured $2.2 million in seed funding to enhance real-time AI data access monitoring. Separately, Bangkok Bank is increasing its investment in renewable energy and AI, allocating approximately $170 million to its Nakwol fund.

Key Takeaways

• Mercor, an AI training startup, is reportedly seeking a $10 billion valuation on a $450 million annualized revenue run rate.
• Mercor provides specialized contractors to major AI firms including OpenAI, Meta, Tesla, Amazon, and Google.
• Mercor is facing a corporate espionage lawsuit from Scale AI over alleged trade secret misappropriation.
• Oracle's stock has surged significantly, with shares climbing over 40% due to strong demand for its AI cloud services.
• OpenAI is reportedly partnering with Oracle for a $300 billion AI data center infrastructure project.
• Oracle projects its cloud infrastructure revenue to reach $144 billion by fiscal year 2030, driven by AI demand.
• Nvidia's stock has increased following the launch of its new Rubin CPX AI chip and positive AI infrastructure outlook.
• AI-related chip stocks like Broadcom have also experienced gains.
• Data security startup Aurva, founded by former Meta engineers, raised $2.2 million in seed funding.
• Bangkok Bank is investing approximately $170 million in renewable energy and AI through its Nakwol fund.

Mercor AI startup eyes $10B valuation amid rapid growth and lawsuit

Mercor, an AI startup founded by three 21-year-old Thiel Fellows, is reportedly seeking a $10 billion valuation. The company matches AI experts with companies needing help training generative AI models. Mercor's revenue has surged to a $450 million annualized run rate, a significant increase from its previous $2 billion valuation six months ago. Despite this rapid growth, Mercor is facing a corporate espionage lawsuit from rival Scale AI, which alleges theft of trade secrets. The company's intense work culture and young founders are also notable aspects of its rapid ascent.

AI training startup Mercor seeks $10B valuation on $450M run rate

Mercor, an AI training startup, is reportedly in talks for a Series C funding round with a valuation target of over $10 billion. This comes as the company's annualized run rate revenue approaches $450 million, a significant jump from earlier figures. Mercor connects companies with specialized contractors, such as scientists and doctors, for AI model training. The startup faces competition and a lawsuit from Scale AI over alleged trade secret misappropriation. Despite these challenges, Mercor continues to attract significant investor interest.

Mercor eyes $10B valuation as top AI firms seek its experts

Mercor, a startup founded by Thiel Fellows, is reportedly seeking a $10 billion valuation for its Series C funding round. The company provides specialized contractors like scientists, doctors, and lawyers to major AI firms such as OpenAI, Meta, and Tesla for AI model training. Mercor's annualized run-rate revenue has grown rapidly, approaching $450 million. The company also faces a lawsuit from competitor Scale AI for alleged trade secret misappropriation. Mercor's rapid growth and high valuation reflect the intense demand for AI expertise.

Mercor AI startup nears $10B valuation in Series C funding

Mercor, a startup that connects companies with experts for AI model training, is nearing a $10 billion valuation in its Series C funding round. The company's annualized revenue run rate is approaching $450 million, with reported profits in the first half of the year. Mercor provides specialists like scientists, doctors, and lawyers to AI labs including Amazon, Google, Meta, and OpenAI. The company is also exploring expansion into reinforcement learning infrastructure. Mercor faces competition and a lawsuit from Scale AI over alleged trade secret misappropriation.

Stock futures mixed as Oracle stock soars on AI demand

U.S. stock futures showed mixed movement ahead of inflation data, while Oracle's stock surged over 40% following an improved outlook for cloud infrastructure sales driven by AI demand. Major indexes like the S&P 500 and Nasdaq hit record highs. Producer price index data showed wholesale inflation slightly decreased in August, influencing expectations for Federal Reserve rate cuts. Oracle's strong performance boosted AI chipmakers like Nvidia and Broadcom, while Klarna prepared for its NYSE debut. GameStop also saw gains, and Novo Nordisk announced layoffs.

S&P 500, Nasdaq hit records as Oracle surges on AI optimism

The S&P 500 and Nasdaq closed at record highs on Wednesday, boosted by Oracle's significant stock surge and encouraging inflation data. Oracle's shares jumped 36% after reporting strong demand for its cloud services from AI firms, significantly increasing its market value. AI-related chip stocks like Nvidia and Broadcom also rallied, and data center power suppliers saw gains. Cooler-than-expected producer prices fueled expectations that the Federal Reserve will cut interest rates next week. Investors are now awaiting consumer price data for further inflation insights.

Wall Street hits records as Oracle stock soars on AI optimism

U.S. stock indexes, including the S&P 500 and Nasdaq, reached record highs on Wednesday, driven by a significant jump in Oracle's stock and positive inflation data. Oracle's shares climbed nearly 38% following strong demand for its AI-related cloud services, boosting its market value substantially. AI chip stocks such as Nvidia and Broadcom also experienced gains, alongside data center power suppliers. Lower-than-expected producer price inflation increased anticipation for a Federal Reserve interest rate cut next week. Investors are now looking towards upcoming consumer price data for further economic indicators.

Oracle's strong report boosts AI stocks; Cramer likes Apple and Danaher

The S&P 500 and Nasdaq reached new record highs, fueled by Oracle's strong earnings report and cooler inflation data. Oracle's stock surged nearly 39% due to high demand for its cloud services, benefiting AI infrastructure-related companies like GE Vernova and Eaton. Chip stocks, including Broadcom and Nvidia, also saw significant gains. Jim Cramer recommended buying Apple, citing a good entry point before its iPhone launch, and also advised buying Danaher, highlighting its aggressive share repurchase program. He noted that the producer price index data supports expectations for a Federal Reserve rate cut.

Nvidia price target raised; Oracle lands big AI customer

The S&P 500 reached a new record high, with gains concentrated in technology and AI infrastructure sectors, following a surprising decline in producer prices. This data increases the likelihood of a Federal Reserve interest rate cut next week. Oracle's stock surged over 40% due to strong demand for its cloud services, with reports indicating a significant $300 billion computing deal with OpenAI. This deal is expected to require substantial power capacity. In response, the Nvidia price target was raised to $200, reflecting confidence in AI infrastructure spending. Netflix and Amazon also announced a new advertising partnership.

Bangkok Bank boosts renewable energy and AI investments

Bangkok Bank is significantly increasing its investment in renewable energy and artificial intelligence (AI) by allocating 600 billion won (approximately $170 million) to its Nakwol fund. This fund supports companies in these critical sectors, aiming to drive growth and innovation. The bank's investment will target solar, wind, and energy storage technologies, as well as AI startups and machine learning research. This strategic move aligns with global sustainability trends and the transformative potential of AI across industries.

Oracle emerges as a top AI stock opportunity

Oracle is positioned as a significant AI stock opportunity due to its AI-driven cloud growth and major hyperscaler partnerships. Despite a slight Q1 earnings miss, Oracle's Remaining Performance Obligations (RPO) surged to $455 billion, indicating strong future revenue from deals with Amazon, Alphabet, and Microsoft. The company's cloud infrastructure revenue is projected to grow dramatically, reaching $114 billion by fiscal year 2029, driven by AI workloads. Oracle's strategic wins, including a large deal with OpenAI, highlight its pivot to AI infrastructure, making it a compelling investment.

Oracle's AI infrastructure spending to reach $144 billion

Oracle's market value surged over $200 billion in a single day, driven by its massive $455 billion revenue backlog. The company projects its cloud infrastructure revenue to grow from $18 billion this fiscal year to an astonishing $144 billion by fiscal 2030, fueled by demand from companies like OpenAI and Meta. This growth requires significant investment, with capital expenditure tripling to $8.5 billion in the last quarter. Oracle leverages existing customer relationships and its database dominance to build AI infrastructure, though it faces risks associated with large-scale capital investment and potential market shifts.

OpenAI and Oracle partner for $300 billion AI data centers

OpenAI has partnered with Oracle to build $300 billion in computer infrastructure over approximately five years to develop and deliver AI technologies. This collaboration, part of OpenAI's 'Project Stargate,' aims to construct massive AI data centers in the United States and potentially expand globally. Oracle's stock saw a significant increase following the announcement of substantial future contract revenue. This initiative involves other major players like SoftBank and G42, with construction already underway in locations like Abilene, Texas.

Nvidia stock rises on new AI chip and Oracle's strong outlook

Nvidia's stock increased after unveiling its new Rubin CPX artificial intelligence chip, designed for advanced functions like video creation and large-scale data processing. The company highlighted the potential for significant customer returns on investment in this new hardware. Nvidia's stock also benefited from a broader rally among AI chipmakers, spurred by strong demand and Oracle's boosted outlook for its cloud infrastructure sales. Despite some volatility and increasing competition from custom chip deals, Nvidia remains a dominant player in the AI chip market.

Data security startup Aurva raises $2.2M for real-time AI data access

Aurva, a data security startup founded by former Meta engineers, has raised $2.2 million in seed funding to enhance real-time access monitoring and AI observability. The platform provides enterprises with visibility into data access and usage by humans, services, and AI agents, using eBPF technology for efficient monitoring. The funding will support team expansion and platform development to meet growing demand from companies, including FinTech and SaaS firms like Razorpay and Meesho. Aurva aims to address the security challenges posed by large-scale AI adoption.

Sources

• Mercor AI Startup Eyes $10B Valuation Amid $450M Run Rate and Lawsuit
• Exclusive: AI training startup Mercor eyes $10B+ valuation on $450 million run rate, sources say
• Peter Thiel-Backed Fellows' Startup Mercor Targets $10 Billion Valuation As OpenAI, Meta, Tesla Turn To Its AI Training Experts: Report - Alphabet (NASDAQ:GOOG), Amazon.com (NASDAQ:AMZN)
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• Dow Jones Today: Stock Futures Mixed Ahead of Inflation Data; Oracle Stock Soars on Boosted Outlook
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• Aurva bags $2.2m to secure real-time AI data access
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