Business 1 February 2026 - 4 February 2026

LegalZoom Drops Ahead of Shareholder Meeting as AI Fight Hangs Over Stock
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LegalZoom Drops Ahead of Shareholder Meeting as AI Fight Hangs Over Stock

LegalZoom.com traded lower in premarket Wednesday, with the stock near $6.53 as investors prepared for the company’s annual meeting. Shares have had trouble translating stronger sales into better numbers on the bottom line. The latest price was off 14.5 cents from Tuesday’s close, giving LegalZoom a market cap near $1.16 billion. The timing sets the scene. U.S. markets are open as usual, and Nasdaq’s 2026 holiday list shows the next full day off is Juneteenth, June 19. LegalZoom’s shareholder meeting is scheduled for later in the day, not on a weekend or holiday.
June 3, 2026
Nvidia’s $20B OpenAI bet: Huang talks IPO as $100B fundraise takes shape
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Nvidia’s $20B OpenAI bet: Huang talks IPO as $100B fundraise takes shape

Nvidia is nearing a deal to invest roughly $20 billion in OpenAI as part of the ChatGPT maker’s latest funding round, a person familiar with the matter told Reuters. OpenAI is looking to raise up to $100 billion in the round, valuing it at about $830 billion, Reuters has reported, and the talks are not final. Bloomberg reported Nvidia’s contribution is close to being completed and would be the chipmaker’s single biggest investment in the ChatGPT developer, though the terms could still change. In a funding round — a private fundraising where investors buy a stake — that size matters because it signals how much cash the AI build-out is still pulling in.
February 4, 2026
ElevenLabs snags $500 million at $11 billion valuation in Sequoia-led Series D
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ElevenLabs snags $500 million at $11 billion valuation in Sequoia-led Series D

NEW YORK, Feb. 4, 2026, 10:15 a.m. Voice-cloning AI startup ElevenLabs has reached an $11 billion valuation after closing a $500 million funding round, according to the Wall Street Journal on Wednesday. The Series D round was led by Sequoia Capital, the report stated.https://www.reuters.com/technology/elevenlabs-raises-500-million-11-billion-valuation-wsj-reports-2026-02-04/?utm_source=chatgpt.com
February 4, 2026
Texas Instruments’ $7.5 Billion Silicon Labs Buyout: What the Chip Deal Changes
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Texas Instruments’ $7.5 Billion Silicon Labs Buyout: What the Chip Deal Changes

Texas Instruments on Wednesday struck a deal to buy Silicon Laboratories for roughly $7.5 billion in cash, aiming to strengthen its foothold in connectivity chips for industrial and consumer devices. The offer of $231 per share represents a roughly 69% premium over Silicon Labs’ last unaffected closing price on Tuesday. Shares of Silicon Labs surged in premarket trading, while TI’s stock dipped. This deal marks TI’s largest since its $6.5 billion acquisition of National Semiconductor back in 2011. It comes as chipmakers look to expand beyond the red-hot AI sector. By snapping up Silicon Labs, TI boosts its standing in the Internet-of-things space—covering everything from smart home gadgets to factory sensors—where demand tends to be steadier than the typical tech
February 4, 2026
AMD shares slide after 2026 forecast flags slower quarter, reviving Nvidia doubts
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AMD shares slide after 2026 forecast flags slower quarter, reviving Nvidia doubts

Shares of Advanced Micro Devices dropped almost 7% in premarket trading Wednesday after the company’s first-quarter sales forecast showed a decline from the previous quarter, raising fresh questions about how fast it can close the gap with Nvidia in AI chips. This reaction is crucial since the AI rally has made investors quick to punish even slight signs of slowing growth. Chipmakers and server suppliers are valued based on expectations of strong data-center demand, with forecasts now carrying more weight than past earnings beats.
February 4, 2026
Alphabet eyes massive Bengaluru office expansion as U.S. tightens H-1B visas
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Alphabet eyes massive Bengaluru office expansion as U.S. tightens H-1B visas

Alphabet, Google's parent company, is planning a significant boost to its presence in India, potentially adding workspace for up to 20,000 staff in Bengaluru, Bloomberg News revealed Tuesday. The company has already leased one office tower and secured options on two additional buildings at Alembic City in Whitefield, covering around 2.4 million square feet, the report noted. The first tower should welcome employees within months, with the other two expected to be completed next year. Timing is critical. Companies face increased scrutiny over H-1B visas—used to bring in skilled foreign workers—while the Trump administration considers new taxes on outsourced labor, the report states. Donald Trump has pushed the cost of new H-1B visa applications sharply higher, from the previous $2,000–$5,000
February 3, 2026
Western Digital adds a $4B buyback as AI servers squeeze memory supply
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Western Digital adds a $4B buyback as AI servers squeeze memory supply

San Jose, California, Feb 3, 2026, 11:22 Western Digital announced Tuesday that its board has greenlit an extra $4 billion for share buybacks, driven by soaring demand for its memory chips in AI servers. The stock has jumped 57% so far this year, following a more than threefold gain in 2025. With around $484 million left from a previous $2 billion buyback plan, the move comes amid a global chip shortage that's boosting prices and extending lead times. Just last week, the company projected fiscal third-quarter revenue and profits above analyst forecasts, fueled by strong demand for hard drives and flash storage from AI server customers.
February 3, 2026
OpenAI eyes faster ChatGPT chips as it weighs Nvidia alternatives and $100B talks drag
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OpenAI eyes faster ChatGPT chips as it weighs Nvidia alternatives and $100B talks drag

San Francisco, 09:12 PST, February 3, 2026 OpenAI is exploring alternatives to some of Nvidia’s newest AI chips as it pushes for faster performance in products like ChatGPT, according to eight sources familiar with the situation. This move could complicate ongoing discussions about a significant Nvidia investment in the startup. https://www.reuters.com/business/openai-is-unsatisfied-with-some-nvidia-chips-looking-alternatives-sources-say-2026-02-02/?utm_source=chatgpt.com
February 3, 2026
Waymo’s $16 Billion Cash Haul Pushes Valuation to $126 Billion — Here’s What Changes Now
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Waymo’s $16 Billion Cash Haul Pushes Valuation to $126 Billion — Here’s What Changes Now

SAN FRANCISCO, Feb. 3, 2026, 09:11 PST Alphabet’s self-driving division Waymo announced it secured $16 billion in new funding, pegging its post-money valuation at $126 billion. The financing round was spearheaded by Dragoneer Investment Group, DST Global, and Sequoia Capital. Other participants included Mubadala Capital, Andreessen Horowitz, and T. Rowe Price. https://www.reuters.com/business/waymo-valued-126-billion-latest-financing-2026-02-02/
February 3, 2026
Elon Musk’s $1.25 trillion mash-up: SpaceX buys xAI as IPO plans sharpen
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Elon Musk’s $1.25 trillion mash-up: SpaceX buys xAI as IPO plans sharpen

Elon Musk said SpaceX has acquired his artificial-intelligence startup xAI in a deal valuing the combined company at $1.25 trillion, tying his AI push to the world’s most valuable private space company. The transaction values SpaceX at $1 trillion and xAI at $250 billion, a person familiar with the matter said. https://www.reuters.com/business/musks-spacex-merge-with-xai-combined-valuation-125-trillion-bloomberg-news-2026-02-02/?utm_source=chatgpt.com The tie-up lands as SpaceX readies a public stock offering this year, a step that would open the closely held rocket builder to daily market pressure for the first time. Two people familiar with the plan said the IPO could value SpaceX at more than $1.5 trillion; an IPO is when a firm sells shares to the public for the first time.
February 3, 2026
Siemens Energy’s $1 billion U.S. bet: new Mississippi switchgear plant taps AI power boom
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Siemens Energy’s $1 billion U.S. bet: new Mississippi switchgear plant taps AI power boom

Siemens Energy is set to pump $1 billion into expanding its U.S. production of power-grid and gas-turbine parts, responding to a surge in demand from AI-focused data centres. The investment includes a new power-grid equipment plant in Mississippi, which CEO Christian Bruch described as the company’s largest globally, with completion targeted for 2028. While Big Tech continues to pour hundreds of billions into data centres, the sector faces equipment shortages and permitting delays, driving a flurry of power-related deals. The investment comes as utilities and policymakers race to model data-centre energy demands. According to a Congressional Research Service report, data centres consumed roughly 176 terawatt-hours in 2023—about 4.4% of total U.S. electricity use—with some forecasts suggesting that could climb to
February 3, 2026
Chinese chip designer Montage Technology targets top-end price for $902 million Hong Kong listing
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Chinese chip designer Montage Technology targets top-end price for $902 million Hong Kong listing

Montage plans to price its Hong Kong share sale at the top of its marketed range, potentially raising up to HK$7.04 billion, according to two sources familiar with the matter. The offer price should be finalized by Feb. 5 and announced the following day, with shares scheduled to begin trading on the Hong Kong Stock Exchange on Feb. 9, per its prospectus. The deal comes after a January surge that put Hong Kong back in the spotlight for major listings, although not all debuts have been spectacular. IPOs and secondary listings pulled in roughly $5.5 billion during the month—the strongest January since 2021, according to LSEG data. Kenny Ng, securities strategist at China Everbright Securities International, noted that investors have
February 3, 2026
India Budget 2026 gives Apple a 5-year tax shield for iPhone factory gear in India
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India Budget 2026 gives Apple a 5-year tax shield for iPhone factory gear in India

India has introduced a five-year income tax exemption allowing foreign firms to provide manufacturing equipment to Indian contract manufacturers in special bonded zones. This move directly tackles a persistent issue that Apple had flagged. This change is significant because Apple is ramping up iPhone production in India to cut down its dependence on China. The new rule eases a key cost and tax barrier for that expansion. According to Counterpoint Research, iPhones hold about 8% of India’s smartphone market, and India now accounts for around 25% of global iPhone shipments.
February 2, 2026
Snowflake’s $200 million OpenAI deal plugs GPT-5.2 into Cortex AI as enterprise agents move closer to data
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Snowflake’s $200 million OpenAI deal plugs GPT-5.2 into Cortex AI as enterprise agents move closer to data

Snowflake said on Monday it has struck a $200 million partnership with OpenAI to bring the ChatGPT maker’s models into Snowflake’s data cloud products, including Cortex AI and Snowflake Intelligence. The deal lands as cloud data platforms — where companies store a lot of their most sensitive information — become a battleground for generative AI. Snowflake said customers are moving from basic chatbots to AI agents, software that can take steps across systems, and they want that automation tied to governed data, meaning access is controlled and auditable. Rival Databricks has been building its own agent tools and recently raised $4 billion at a $134 billion valuation, Reuters reported.
February 2, 2026
Indonesia lifts Grok ban — but sets strict terms for Elon Musk’s chatbot
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Indonesia lifts Grok ban — but sets strict terms for Elon Musk’s chatbot

Jakarta, 00:17 WIB, February 3, 2026 Indonesia has lifted its ban on Elon Musk’s Grok chatbot, allowing the service to restart after sexualised images appeared on the app, a government statement confirmed. The Ministry of Communication and Digital Affairs said access will return but under strict oversight and specific conditions, following a written commitment from X Corp. to improve compliance with Indonesian rules. Indonesia had suspended Grok three weeks ago over concerns about AI-generated pornographic content, marking the first time the tool was blocked by any country.
February 2, 2026
Alibaba’s $431 million Lunar New Year giveaway blitz escalates China’s chatbot subsidy race
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Alibaba’s $431 million Lunar New Year giveaway blitz escalates China’s chatbot subsidy race

Beijing, February 2, 2026, 21:21 Alibaba said on Monday it will spend 3 billion yuan to lure users to its Qwen AI app during the Lunar New Year holiday, a sum that tops rival budgets announced by Tencent and Baidu. The incentives start on Feb. 6. https://www.reuters.com/business/media-telecom/alibaba-spend-431-million-lunar-new-year-ai-push-chatbot-war-heats-up-2026-02-02/
February 2, 2026
Capgemini puts Capgemini Government Solutions up for sale after ICE row as shares rise
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Capgemini puts Capgemini Government Solutions up for sale after ICE row as shares rise

Capgemini shares jumped as much as 2% Monday after announcing plans to sell its U.S. subsidiary, Capgemini Government Solutions, amid backlash in France over a contract with U.S. Immigration and Customs Enforcement. The unit secured an ICE contract in December 2025 for “skip tracing,” which involves using data analysis to track individuals via financial records, phone data, and digital footprints. Roland Lescure called for transparency in parliament, while CGT criticized the planned sale, noting it didn’t address their concerns and highlighting Capgemini’s broader North American workforce of 6,000 still serving federal clients. This episode matters because it reveals how a seemingly minor contract can swiftly turn into a political battle over a major local employer. For Capgemini, the issue has
February 2, 2026
India Budget 2026 gives Apple a five-year tax shield for iPhone-making machines
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India Budget 2026 gives Apple a five-year tax shield for iPhone-making machines

On Sunday, India revised its income-tax rules in the 2026/27 budget to allow foreign companies to supply machinery to local contract manufacturers in select zones for up to five years without facing tax risks. This move clears a major hurdle for Apple’s manufacturing expansion in India. Arvind Shrivastava said the government would “exempt you for 5 years” to provide firms with “certainty.” This matters because Apple’s iPhones in India are mostly assembled by contract manufacturers—firms that produce goods for other brands—not in Apple’s own factories. Apple had been cautious about investing in expensive machinery, fearing it might be seen as a profit-generating operation in India, which could trigger taxes on iPhone earnings.
February 1, 2026
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