AI Social Feeds Signal a Future of Artificial Friends
Disney disappoints: Disney's latest earnings results underscore the strength of its streaming and parks businesses, but the company's annual profit forecast disappointed some investors.
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Meta Picks Pimco, Blue Owl for $29 Billion Data Center Deal
(Bloomberg) -- Meta Platforms Inc. has selected Pacific Investment Management Co. and Blue Owl Capital Inc. to lead a $29 billion financing for its data center expansion in rural Louisiana as the race for artificial intelligence infrastructure heats up, according to people with knowledge of the matter. All Hail the Humble Speed Hump Three Deaths Reported as NYC Legionnaires' Outbreak Spreads Mayor Asked to Explain $1.4 Billion of Wasted Johannesburg Funds Major Istanbul Projects Are Stalling as City Leaders Sit in Jail What England's New National Cycling Network Needs to Get Rolling Pimco is expected to lead a $26 billion debt portion of the financing, while Blue Owl is providing $3 billion of equity, said the people, who asked not to be identified because the discussions are private. The debt portion is likely to be issued in the form of investment-grade bonds backed by the data center's assets, they said. The social media company has been working with Morgan Stanley to raise funds in a competitive process that pitted some of the largest names in private credit against each other. Apollo Global Management Inc. and KKR & Co. were also vying to lead the financing until the final round of talks, said the people. Other investors may be added at a later stage, they added. Representatives for Meta, Pimco and Blue Owl declined to comment. Morgan Stanley did not immediately respond to a request for comment. Blue Owl Capital shares were up 2.4% in premarket trading on Friday. Meta climbed 0.4%. Private investment firms have been aggressively seeking to deploy capital in transactions secured by physical assets or for higher-rated companies in a bid to differentiate their business. Many see the multi-trillion dollar market for private asset-based finance and data centers in particular as a massive opportunity to expand their revenue streams. Research by the the management consulting firm McKinsey & Co Inc. estimates that data centers will require $6.7 trillion to meet demand for computing power globally by 2030. AI Development The Meta financing will help the firm accelerate its development of artificial intelligence, which executives have said is already producing 'meaningful' revenue for the company. Meta said costs will grow at an even faster pace next year — particularly as it focuses on AI infrastructure needs and the niche technical talent that can fine-tune its models. 'We generally believe that there will be models here that will attract significant external financing to support large-scale data center projects that are developed using our ability to build world-class infrastructure while providing us with flexibility should our infrastructure requirements change over time,' Chief Financial Officer Susan Li told investors during an earnings call last week. Other tech giants have partnered with investment firms to fund AI data centers. Microsoft Corp. has teamed up with BlackRock Inc. to raise $30 billion in private equity capital for strategy that could deploy as much as $100 billion in the space, while Elon Musk's xAI Corp. raised $5 billion in the broadly syndicated debt market in June as it pushes ahead with the build-out of advanced AI models. Earlier this week, Apollo said it had agreed to buy a majority stake in Stream Data Centers. --With assistance from Kat Hidalgo. (Updates with stock price movements in paragraph five.) The Pizza Oven Startup With a Plan to Own Every Piece of the Pie Digital Nomads Are Transforming Medellín's Housing Russia's Secret War and the Plot to Kill a German CEO It's Only a Matter of Time Until Americans Pay for Trump's Tariffs The Game Starts at 8. The Robbery Starts at 8:01 ©2025 Bloomberg L.P. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
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10 minutes ago
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How Long It Would Take the 10 Richest People To Go Broke If They Spent $1M a Day
For most of us, the idea of spending $1 million in a day — or even in a year — is unfathomable. But for the richest people in the world, $1 million is a mere drop in the bucket. Billionaires such as Elon Musk and Jeff Bezos could spend $1 million every single day and never run out of money. Also See: Find More: A new study conducted by Gold IRA Custodians revealed how long the world's 10 richest billionaires could sustain spending $1 million every single day before exhausting their net worth — and it's more than their lifetimes by a long shot. Elon Musk Source of wealth: Tesla, SpaceX Net worth: $419.3 billion Time it would take to go broke spending $1M a day: 1,148 years and 9 months Check Out: See More: Larry Ellison Source of wealth: Oracle Net worth: $259.5 billion Time it would take to go broke spending $1M a day: 710 years and 11 months Check This: Mark Zuckerberg Source of wealth: Facebook Net worth: $245.8 billion Time it would take to go broke spending $1M a day: 673 years and 5 months Jeff Bezos Source of wealth: Amazon Net worth: $227.4 billion Time it would take to go broke spending $1M a day: 623 years Warren Buffett Source of wealth: Berkshire Hathaway Net worth: $153.9 billion Time it would take to go broke spending $1M a day: 421 years and 7 months Know More: Steve Ballmer Source of wealth: Microsoft Net worth: $139.6 billion Time it would take to go broke spending $1M a day: 382 years and 5 months Larry Page Source of wealth: Google Net worth: $138.5 billion Time it would take to go broke spending $1M a day: 379 years and 5 months Bernard Arnault and Family Source of wealth: LVMH Net worth: $138.5 billion Time it would take to go broke spending $1M a day: 379 years and 5 months Discover More: Sergey Brin Source of wealth: Google Net worth: $132.5 billion Time it would take to go broke spending $1M a day: 363 years Jensen Huang Source of wealth: Semiconductors Net worth: $129 billion Time it would take to go broke spending $1M a day: 353 years and 5 months Editor's note: Data was sourced from Gold IRA Custodians and is accurate as of July 2, 2025. More From GOBankingRates New Law Could Make Electricity Bills Skyrocket in These 4 States I'm an Economist: Here's When Tariff Price Hikes Will Start Hitting Your Wallet 5 Strategies High-Net-Worth Families Use To Build Generational Wealth 10 Cars That Outlast the Average Vehicle This article originally appeared on How Long It Would Take the 10 Richest People To Go Broke If They Spent $1M a Day Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
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10 minutes ago
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Why VC investments into crypto are seen to hit $25bn in 2025
Venture capital investors will back crypto startups to the tune of $25 billion in 2025. That's according to Michael Martin, director at Ava Labs' incubator Codebase, who said a perfect storm of bullish signals will incentivise investors to back crypto companies. He told DL News that factors like Circle's successful public float, booming crypto market, Stripe's acquisition of Privy, Wall Street pouring into blockchain projects, and new rules of the road for digital assets will drive even more investment in the last half of the year. 'People have the proof points to invest with a level of confidence in earlier stage, real-world blockchain companies that they may not have had in the past,' Martin told DL News. The prediction comes during a week that saw 12 crypto projects raise $121 million, pushing the total amount bagged by industry players this year to $13.2 billion, according to DefiLlama. That investment is already 40% higher in August this year than all investment into crypto last year. That also puts it on the path to break the $18 billion expected by PitchBook analysts earlier this year. Martin's prognosis echoes that of Galaxy Venture's Mike Giampapa, who told DL News earlier this summer that he expected crypto startups to secure $25 billion in 2025. Critical juncture Investor' optimism comes at a critical juncture for the industry. The Trump administration's pro-industry tilt has emboldened not just sector players, but also larger financial institutions and banks to increasingly tap into digital assets. With Trump having rubberstamped the Genius Act in July and more crypto bills coming up for votes on Capitol Hill, the industry is getting the clarity it's clamoured for for years. That clarity is expected to further fuel the adoption of blockchain technology by traditional financial institutions. Wall Street companies and fintech firms may also see this as an opportunity to follow in Stripe's footsteps and acquire crypto companies to embed their solutions in their services 'You're going to see more of that,' Martin said. Macroeconomy risks To be sure, there are clouds on the horizon that risk derailing the investment boom. Even so, macroeconomic uncertainties — particularly those surrounding US President Donald Trump's tariffs — jeopardise the rally, Martin said. Other concerns include whether or not public crypto companies like Circle and Coinbase will perform as well as expected. Martin said that if public crypto companies and leading cryptocurrencies like Bitcoin were to underperform analysts' expectations, that could rattle investors and scare them into tightening their grips around their cheque books. Apart from the risk of public crypto companies underperforming, there is also a chance that macroeconomic conditions will give investors reason to halt their investment strategies. For instance, Trump's tariffs against some of the US' closest trading partners combined with jobs growth having stalled this summer have rattled investors. No one knows what will happen next. 'VCs have capital they need to deploy,' Martin said. 'But how are you going to deploy it if you don't know if X, Y and Z is going to happen?' You're reading the latest installment of The Weekly Raise, our column covering fundraising deals across the crypto and DeFi spaces, powered by DefiLlama. Eric Johansson is DL News' interim managing editor. Got a tip? Email at eric@ Errore nel recupero dei dati Effettua l'accesso per consultare il tuo portafoglio Errore nel recupero dei dati Errore nel recupero dei dati Errore nel recupero dei dati Errore nel recupero dei dati
