Force Majeure at 77 Cents on the Dollar
Oracle invoked force majeure to exit a lease on an unbuilt data center, the first 'committed' AI-boom dollar to hit reality. Bonds…
Marcia Okonkwo
Business Editor
Marcia Okonkwo covers the business of technology for prompt/power: venture capital, startups, IPOs and earnings. She treats a valuation as a mood rather than a number until the S-1 says otherwise.
31 stories
The AI Data-Center Debt Map: Who Owes Whom After Oracle’s Jupiter Notice
OpenAI's promises become Oracle's leases, and Oracle's leases become bank loans inside project companies. New Mexico's Project Jupiter shows where that chain…
Island Raises $400M to Sell the Agent Economy Its Insurance Policy
A $6.4 billion valuation for a locked-down browser is a bet that enterprises will pay to watch, and throttle, their own AI…
Stripe’s $53B PayPal bid is a leveraged buyout in merger clothing
Stripe's nonbinding $60.50-a-share PayPal bid leans on roughly $50 billion in bank debt. The DOJ's Visa-Plaid suit is the template for blocking…
Emergent’s $1.5B round is vibe coding’s conservative print
Emergent raised $130 million at 12.5 times revenue run rate, and in vibe coding that counts as modest. The number nobody publishes…
The Brief: PayPal’s silence, IBM’s worst day in 115 years
Plus a $1.5 billion bet on consultants, a 975-billion-parameter act of modesty, and the routers Russia never left. First edition of our…
SK Hynix’s $26.5 billion Nasdaq party lasted exactly one trading day
The biggest foreign IPO in US history was up 14% at Friday's open and down 15% in Seoul by Monday. One brokerage…
The Brief: Apple’s new Siri goes public, the AI chip trade cracks, and Brussels sanctions the FSB
July 13: the rebuilt Siri meets the public, SK Hynix has its worst Seoul session, TSMC posts a record June, and the…
The unreturned laptop: what Apple’s complaint against OpenAI actually alleges
Strip the spy-thriller framing from Apple's 41-page complaint and two piles remain: documented allegations and atmospherics. OpenAI should fear the first.
A $1.3 trillion tantrum: chips sell off while Samsung prints the best quarter in its history
Chip stocks lost roughly $1.3 trillion in five sessions while Samsung posted a record quarter. The market is pricing policy and payback,…
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