Baidu Posts Worst Sales Fall on Record Despite Major AI Spending

Caterpillar Inc. has emerged as an unlikely player in the artificial intelligence sector, primarily known for its manufacturing of heavy machinery such as earth movers. The company has historically focused on traditional industrial equipment, making it less aligned with the AI-driven technology trends that have captivated many other sectors. Despite the growing interest in AI, Caterpillar's core business remains rooted in physical machinery, which may limit its appeal in the rapidly evolving tech landscape.

The internet has become an essential part of daily life, underpinning the global financial and consumer ecosystem. Its fragility is highlighted by the significant costs and inconveniences incurred when parts of it fail. As reliance on the internet grows, understanding its vulnerabilities becomes crucial for maintaining stability in communication and transactions worldwide.

Lovable, a Swedish artificial intelligence coding startup, has announced that it has achieved $200 million in annual recurring revenue. This milestone reflects the company's rapid growth and positions it to seek additional funding less than five months after its previous fundraising round. The achievement highlights Lovable's increasing prominence in the technology sector, particularly in AI-driven solutions for coding.

Raith, a German supplier of nano-technology for critical sectors like quantum computing, is considering a sale that could value the company at approximately €1 billion ($1.2 billion). The private equity owner is exploring this option amid growing interest in quantum technologies, which are becoming increasingly vital in various industries.

Michael Saylor's Bitcoin treasury company has seen its rare euro-denominated preferred stock offering fall below its already discounted offer price in less than two weeks. This decline comes amid a broader downturn in the Bitcoin market, reflecting the volatility and challenges faced by cryptocurrency-related investments.

Aerospace and defense tech startup Ursa Major Technologies Inc. has achieved a valuation of $600 million following a new funding round. This development highlights the growing interest from investors in companies that are innovating in rocket technology, signaling a positive trend in the aerospace sector.

Xiaomi Corp. anticipates a shortage of memory chips to drive up mobile device prices in 2026. This forecast aligns with warnings from various companies regarding a potential supply crunch of this essential component, which could impact the overall smartphone market significantly.

ABB Ltd. has maintained its revenue growth target, disappointing investors who anticipated a more aggressive goal amid a surge in demand for its power-grid products driven by the artificial intelligence boom. The company's decision reflects a cautious approach in a rapidly evolving market.