Business

• A viral feud between two AI startup founders over $31 million in funding has highlighted the volatile nature of Silicon Valley's current "attention economy." • Both companies are targeting users in developing markets, reflecting a trend where massive capital is being deployed into nascent sectors and very young founders. • The conflict underscores a shift in venture capital trends; a recent Crunchbase analysis shows that in 2025, over half of seed rounds exceeded $10 million.

The Amazon founder has denied any personal involvement in the film, which failed to recoup its budget on releaseJeff Bezos has defended Amazon’s controversial Melania documentary as “a good business decision” while denying any personal involvement.The Amazon founder and executive chairman was asked about the film during an interview on CNBC this week. The film, which followed the first lady in the period before Donald Trump’s second inauguration, was purchased by the company for $40m with Melania herself making a reported $28m. Amazon also spent around $35m on marketing. Continue reading...

• Dow Jones’ business-news feed surfaced multiple fresh U.S.-relevant market stories within the past hour, including a piece on “The Most Brutal Car Market Is Spreading to the Rest of the World” and a report that Elon Musk lost his case against OpenAI after jury deliberation. • Other prominently listed items include coverage of home prices and rates, with Kathie Lee Gifford seeking $100 million for her Connecticut waterfront home and Home Depot earnings due as mortgage rates hit a year-plus high. • The feed also flagged a bond-market warning for the Federal Reserve to act on inflation and potential rate hikes, underscoring how investors are still focused on policy direction and borrowing costs.

British Chambers of Commerce survey shows firms ‘are dealing with rising levels of theft, fraud and cyber-attacks’UK business leaders have warned that crime is becoming an increasingly “serious barrier” to growing Britain’s economy amid a rise in shoplifting, fraud and cyber-attacks against companies.The British Chambers of Commerce (BCC), which represents tens of thousands of businesses across the country, called on the government to provide “a step change in the support businesses can count on” as it said two-fifths of companies had experienced some form of crime in the past year. Continue reading...

• Asia has emerged as the new center of the global AI boom, surpassing Silicon Valley, fueled by surging demand for AI chips that propelled Asian tech stocks higher. • The AI-driven rally boosted South Korea's Kospi to a fresh record close of 7,981.41, up 1.8%, supported by technology shares amid robust corporate results in Japan. • Investors monitored U.S. approvals for around 10 Chinese firms, including Alibaba and Tencent, to purchase Nvidia AI chips, highlighted during Trump’s China visit with Nvidia CEO Jensen Huang.

• Citigroup announced plans to expand its Asia-Pacific prime brokerage division by approximately 10% this year to attract more hedge fund clients amid growing regional activity. • The hiring push targets capturing increased hedge fund business in APAC, a key growth area for the U.S. bank's securities services. • This move aligns with broader bullish sentiment in Asian financial markets, particularly in tech and AI sectors driving stock gains.

• Ciridae has raised $20 million in seed funding led by venture capital firm Accel to develop AI operating systems tailored for mid-market businesses in industrial and services sectors. • The funding will enable Ciridae to build and deploy AI-powered operational platforms designed to streamline processes across manufacturing and service-oriented industries. • The investment reflects growing market demand for accessible AI solutions that address specific vertical market challenges beyond general-purpose AI platforms.