Business
Nvidia to invest $100bn in OpenAI, firm behind ChatGPT

US tech giant Nvidia will invest up to $100bn (£73bn) in OpenAI, the firm behind ChatGPT, the companies have announced.
Nvidia said it will supply high-performance chips needed for the processing power required by artificial intelligence (AI), of which OpenAI is a specialist.
Described as a “strategic partnership” by Nvidia, it is the latest move by two high profile tech firms in the global AI race, where China is an emerging rival.
The announcement comes after a series of high-profile investments by Nvidia, including a $5bn investment in Intel and a £2bn investment in the UK’s AI sector.
Nvidia, which is the world’s most valuable company, said its latest investment will go towards data centres for OpenAI’s “next-generation AI infrastructure”.
Jensen Huang, chief executive of Nvidia, said the funding will mark the “next leap forward and power the next era of intelligence”.
Both firms said they were already working with a broad network of collaborators focused on making the “world’s most advanced AI infrastructure”, including working with Microsoft, Oracle, SoftBank, and Stargate.
However, the dominance of US AI firms has come under threat from China – particularly with the rise of DeepSeek-R1.
Meanwhile, Nvidia has come under pressure from both the Chinese and the US governments.
China said last week Nvidia had violated its anti-monopoly laws, but did not give details of how Nvidia had breached the rules.
China also reportedly ordered its top technology companies to halt purchases of the firm’s artificial intelligence (AI) chips. Huang told the BBC at the time he was “disappointed” with the news.
It came after Nvidia and its rival AMD agreed to pay the US government 15% of Chinese revenues to secure export licences to China to undo a US government ban on AI chip sales to the country.
Nvidia’s share price closed up 4% at the end of Monday’s trading in the US.
OpenAI said it had more than 700 million weekly active users, and that its new partnership with Nvidia would “advance its mission to build artificial general intelligence that benefits all of humanity.”
It added that the details would be finalised in the coming weeks.
Sam Altman, cofounder and chief executive of OpenAI, said the partnership meant both firms would work together to “create new AI breakthroughs and empower people and businesses with them at scale”.
Greg Brockman, cofounder and president of OpenAI, said the company had been working closely with Nvidia since “the early days” of the business.
Business
Disney says ‘Jimmy Kimmel Live’ will return to ABC on Tuesday

Disney plans to bring “Jimmy Kimmel Live!” back to air on ABC’s broadcast network beginning on Tuesday, the company said in a statement.
The decision was announced nearly a week after ABC said it was suspending the late night show indefinitely. The network had pulled the show days after the host made comments linking the alleged killer of conservative activist Charlie Kirk to President Donald Trump’s MAGA movement.
“Last Wednesday, we made the decision to suspend production on the show to avoid further inflaming a tense situation at an emotional moment for our country. It is a decision we made because we felt some of the comments were ill-timed and thus insensitive,” Disney said in a statement Monday. “We have spent the last days having thoughtful conversations with Jimmy, and after those conversations, we reached the decision to return the show on Tuesday.”
The late night host will address the matter during his show set to be taped on Tuesday, according to a person familiar with the matter, who spoke on the condition of anonymity to discuss internal matters.
Following days of discussions, Disney CEO Bob Iger and Dana Walden, co-chair of Disney Entertainment, made the decision to return the show to air, the person said. The two executives informed Kimmel on Monday, the person added.
Local station owners learned of the show’s return on Monday when Disney made the public announcement, according to two people familiar with the matter.
Jimmy Kimmel at the Disney Advertising Upfront on Tuesday, May 13, 2025.
Michael Le Brecht | Disney General Entertainment Content | Getty Images
Broadcast pushback
“Jimmy Kimmel Live!” was suspended after Nexstar Media Group, which owns more than 200 broadcast TV stations across the U.S., announced its stations affiliated with ABC would preempt Kimmel’s show. Sinclair, another large broadcast TV station owner, similarly threatened to preempt the program.
Sinclair said in a release last week that it would not lift the suspension on “Jimmy Kimmel Live!” until it had formal discussions with ABC “regarding the network’s commitment to professionalism and accountability.”
As of Monday evening, a Sinclair representative said the company still planned to preempt the broadcast.
“Beginning Tuesday night, Sinclair will be preempting Jimmy Kimmel Live! across our ABC affiliate stations and replacing it with news programming,” according to a statement from Sinclair. “Discussions with ABC are ongoing as we evaluate the show’s potential return.”
Sinclair owns and operates nearly 40 ABC-affiliate stations across the U.S., including one in Washington, D.C., according to its website.
A Nexstar representative didn’t comment on the matter.
Kimmel said during his monologue last Monday that the “MAGA gang” was “desperately trying to characterize this kid who murdered Charlie Kirk as anything other than one of them and doing everything they can to score political points from it.”
“In between the finger-pointing there was grieving. On Friday the White House flew the flags at half-staff, which got some criticism, but on a human level you can see how hard the president is taking this,” he continued, teeing up a clip of Trump on the White House lawn in which the president fields a question on Kirk but swiftly pivots to talking about construction.
Immediately following ABC’s suspension of the show, everyone from entertainers to politicians weighed in on whether Kimmel should return to air, and whether the incident should affect station owners’ broadcast licenses.
Federal Communications Commission Chair Brendan Carr had suggested ABC’s broadcast license was at risk in light of Kimmel’s comments, telling CNBC last week, “we’re not done yet” with changes to the media landscape.
Trump suggested the federal government might revoke broadcast station licenses for the networks that are “against” him.
The FCC didn’t immediately respond to a request for comment Monday.
Networks like ABC are part of a system that requires them to obtain over-the-air spectrum licenses from the federal government in order to broadcast across local stations. Since the networks are free to air over public spectrum — meaning anyone with an antenna can watch them — they must by law operate in “the public interest.”
Both Nexstar and Sinclair are currently looking to do deals that would require regulatory approval.
Nexstar recently announced a proposed $6.2 billion deal to merge with fellow broadcast station owner Tegna, a deal that would upend longstanding regulations for the industry on how many stations a parent company can own.
And Sinclair said in August it’s exploring merger options for its broadcast business, though it has yet to reach an agreement.
Political pressure
Kimmel’s suspension drew comparisons to CBS’s cancellation of “The Late Show With Stephen Colbert” in July and raised questions about the protection of free speech in a Trump-era broadcast environment.
Trump’s scrutiny of media companies has intensified during his second term marked by high-profile defamation lawsuits, the defunding of public broadcasters and regulatory interference from the FCC. He’s particularly singled out ABC and NBC for what he called “unfair coverage of Republicans and/or Conservatives.”
Current and former late show hosts rallied behind Kimmel after his suspension and said the president’s influence amounted to censorship. Former Disney CEO Michael Eisner blasted the FCC’s “intimidation” of ABC.
A letter organized by the American Civil Liberties Union, signed by more than 400 people including Hollywood stars and artists, backed Kimmel, saying his suspension marked a “dark moment for freedom of speech in our nation.”
Meanwhile, Republican Sen. Ted Cruz of Texas criticized the FCC’s Carr for his comments related to the suspension of Kimmel.
And on Monday, New York City mayoral candidate Zohran Mamdani withdrew from an upcoming town hall on an ABC affiliate in protest of the network’s suspension of Kimmel.
Disclosure: Comcast is the parent company of NBCUniversal, which owns CNBC. Versant would become the new parent company of CNBC upon Comcast’s planned spinoff of Versant.
Business
US says ‘all options’ on table to help stabilise Argentina’s fiscal turmoil


US Treasury Secretary Scott Bessent has said the US is “ready to do what is needed” to help stabilise Argentina’s escalating financial turmoil.
“All options for stabilization are on the table,” Bessent wrote on social media, calling Argentina a “systematically important US ally in Latin America”.
The message helped to calm financial markets, which have been rattled as recent election losses raise doubts about the future of Javier Milei’s cost-cutting, free-market agenda.
The value of the peso has been plunging, while investors dump Argentine stocks and bonds.
Milei, a libertarian economist and ally of US President Donald Trump, was elected president of Argentina in 2023 as an outsider candidate who promised to control soaring inflation through radical government spending cuts and other reforms.
A stable Argentine peso is critical to that pledge.
But the currency has lost value as investors move money out of the country, in part worried about the government’s ability to keep the peso steady.
In recent weeks, the Argentine central bank has stepped in to try to stave off further weakness in the peso.
But that effort, which included spending $1.1bn (£810m) of its reserves last week to buy pesos, also depleted its holdings, putting the country in a more precarious position when it comes to paying back its debt.
Bessent said the US government was considering intervening in Argentina’s current fiscal turmoil with purchases of Argentine pesos and dollar-denominated government debt among other forms of support.
More details will be announced after President Donald Trump meets with Milei in New York on Tuesday, he added.
“We remain confident that [President Milei’s] support for fiscal discipline and pro-growth reforms are necessary to break Argentina’s long history of decline,” he wrote.
Milei expressed “enormous gratitude” for the US’s pledge of support, which helped lift Argentine stocks and prices for the country’s dollar-denominated debt in financial markets.
“Those of us who defend the ideas of freedom must work together for the welfare of our peoples,” he wrote on social media.
Milei was the first foreign leader to meet with Trump after his victory in the November 2024 US presidential election and his economic policies have won him admiration among many conservatives in the US, including Elon Musk.
But he has been on the defensive at home, especially in recent weeks, as his government has been grappling with losses in recent local elections and a bribery scandal involving his sister, who is accused of taking kickbacks from drug companies seeking government contracts.
Argentina will host national mid-term elections in October, which are expected to serve as a referendum on his controversial policies, which include cuts to social programmes such as subsidies for transportation.
In April, Bessent also provided key backing to help Argentina secure a new $20bn four-year loan from the the International Monetary Fund.
Business
Essar venture rolls out Rs 900 crore plan for 100 LNG retail outlets – The Times of India

NEW DELHI: Ultra Gas & Energy Ltd (UGEL), a new-age clean-tech venture of the Essar group, plans to invest Rs 900 crore to expand its LNG (liquefied natural gas) retail network for freight carriers to 100 outlets across India, the company said on Monday.It has already commissioned six refuelling stations along major freight corridors. These are located in Bhilwara (Rajasthan), Anand (Gujarat), Chakan-Pune (Maharashtra), Jalna (Maharashtra), Toranagallu (Karnataka), and Vallam (Tamil Nadu), making the clean-burning fuel accessible to freight carriers serving key industrial and logistics hubs.Each outlet is future-ready with integrated infrastructure to support EV (electric vehicle) charging as part of the company’s long-term vision of creating a bouquet of multi-fuel, low-emission mobility solutions. work on building outlets in Gujarat, Tamil Nadu, Maharashtra, Rajasthan, Haryana, Punjab, Karnataka, Odisha, Chhattisgarh and Jharkhand are in progress. Each UGEL station has a scalable capacity of 50 tonnes, capable of refuelling up to 600 LNG trucks per month. Each station can reduce up to 66,000 tonnes of CO₂ emissions annually, collectively reducing 1 million tonnes of CO₂.To ensure uninterrupted operations, UGEL has partnered with IOCL, GAIL, HPCL and other leading LNG suppliers with access to all major LNG terminals of India, ensuring consistent fuel supply and enabling smooth scalability.Strategically placed to serve high-density logistics zones, these stations are accelerating the shift from diesel to LNG – a cleaner and more efficient fuel for long-haul trucking.“Our retail outlets are catalysts for a cleaner, smarter logistics future. Backed by robust infrastructure and intelligent energy solutions, we are proud to lead India’s transition toward greener fuels and sustainable mobility. UGEL vision is firmly rooted in innovation, efficiency, and environmental responsibility,” a company statement quoted CEO Maqsood Shaikh as saying.By enabling commercial fleet to shift away from high-emission fuels to cleaner alternatives such as LNG and electric power, UGEL is delivering both environmental and economic value to its customers, the company said.
-
Tech1 week ago
How to Switch to Google Fi
-
Tech1 week ago
The Top 11 Protein Powders, According to My Stomach
-
Tech1 week ago
The Hypershell Pro X Exoskeleton Made My Hikes Feel Easier—Then I Checked My Stats
-
Fashion1 week ago
UK retailer ASOS & ITF sign deal to protect transport workers’ rights
-
Tech1 week ago
The MOTIF Hand: A tool advancing the capabilities of previous robot hand technology
-
Tech1 week ago
How AI Is Upending Politics, Tech, the Media, and More
-
Fashion1 week ago
GHG emissions hit record high in 2024 despite declines in EU, Japan
-
Fashion7 days ago
India’s new GST makes artisan-made ethnic wear costlier