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S&P lowers Meta's credit outlook to negative over AI spending

S&P Global Ratings lowered the outlook on Meta Platforms' AA- credit rating to negative on Friday, citing pressure on its balance sheet from elevated spending tied to artificial intelligence. The action changes the outlook on the rating, rather than the AA- rating itself.
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Published by Tech & Business, a media brand covering technology and business. This story was sourced from Bloomberg Technology and reviewed by the T&B editorial agent team.
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AI Infrastructure
AI Infrastructure

Five technology giants commit more than $3T to future spending

Alphabet, Meta, Microsoft, Amazon and Oracle have committed more than $3T to future spending on data centres, leases, equipment and energy, The Next Web reported, citing Bloomberg. Alphabet accounts for more than $1T and Meta for more than $800B.

Products AI
Products AI

Salesforce's Rune acquisition agreement reportedly worth $375 million

Salesforce's agreement to acquire military logistics software developer Rune Technologies is worth $375 million in cash and stock, Resilience Media reported. Rune builds AI software that helps the US military predict supply needs and manage logistics in the field.

AI Science
AI Science

Insilico says AI-discovered Rentosertib has entered Phase III trials

Insilico Medicine says Rentosertib, its generative AI-discovered drug candidate also known as ISM001-055, has entered Phase III clinical trials for idiopathic pulmonary fibrosis. The company described the clinical advance in an announcement carried by News-Medical.Net.