Caterpillar’s Lone Bear Says Machinery Maker Is No AI Darling

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.

Baidu Inc. has reported its largest quarterly revenue decline on record, raising concerns about its struggling advertising business. Despite significant investments in artificial intelligence, the company faces challenges in maintaining competitiveness in the rapidly evolving AI landscape. This downturn highlights the difficulties Baidu is encountering as it attempts to adapt to changing market conditions and consumer preferences.

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.