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Tech Across the Globe

Broadcom disappoints: The chip supplier to Apple and Alphabet gave a lackluster revenue forecast for the current quarter, suggesting the company isn’t grabbing as much of the AI spending frenzy as some investors anticipated.

Export restrictions: US Commerce Secretary Howard Lutnick called for tighter enforcement of export controls to prevent China from gaining American technologies that could support Beijing’s ambitions in areas like artificial intelligence and aviation.

AI video: Beijing-based Kuaishou Technology says its Kling AI is now one of the world’s top-earning video generators and on track to deliver $100 million in sales by next February.

Revalued

Anduril Industries, a defense technology startup selling weapons to the US government, closed a funding round of $2.5 billion that values the company at $30.5 billion, more than double its previous valuation. Founders Fund, the firm backed by Peter Thiel, led the round with a $1 billion investment, Anduril Executive Chairman Trae Stephens said. 

Must Read

Uber Chief Executive Officer Dara Khosrowshahi appointed a chief operating officer in part to put both sides of his business — ride-hailing and food delivery — under one experienced operations executive, Natalie Lung reports in today’s Tech In Depth. Khosrowshahi set out his strategy to expand the business, and get more customers to use both of the main services, during an interview at the Bloomberg Tech conference in San Francisco, she writes.

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This Week in Soundbite

Ashley Carman reports on a major fraud case in the music business in this week’s Soundbite. Prosecutors allege that a North Carolina man used generative AI to create hundreds of thousands of songs and employed automated bots to drive streams to them. The case, which could set a precedent, is working its way through the courts, Ashley writes.

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