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BlackRock CEO Larry Fink stated that the current AI boom is not a bubble, but rather a reflection of a severe global shortage in computing power. He predicts that access to computing resources will become a new, tradable asset class, with financial markets developing instruments tied to compute futures. Fink emphasized that the demand for computational power is so high that it could fundamentally reshape financial markets. AI

Casey Hudson, director of the upcoming Star Wars: Fate of the Old Republic, has expressed reservations about generative AI, calling it "creatively soulless." This comes as the game has secured significant investment, though the exact amount is not specified. Meanwhile, a WIRED panel will host a livestream AMA on May 27 to discuss AI's impact on jobs. AI

Major technology companies are facing financial strain due to their substantial investments in artificial intelligence. The record $725 billion allocated to AI strategies is reportedly leaving these companies with less available cash than in the past decade. This situation suggests a potential limit to the current pace of AI investment. AI

Court documents from the Musk v. Altman trial reveal Microsoft's early concerns about its partnership with OpenAI. Executives, including CEO Satya Nadella and CTO Kevin Scott, worried that OpenAI might leave Microsoft's Azure cloud service for Amazon Web Services. These fears stemmed from OpenAI's significant compute needs for its AI research, particularly its gaming bots, and the potential PR damage if OpenAI became a vocal critic of Microsoft's cloud offerings. AI

Big Tech companies like Apple, Amazon, Meta, and Google are significantly increasing their capital expenditures, with Q1 spending on AI being more than triple that of the Manhattan Project. While Google's earnings were well-received, Meta's were met with less enthusiasm despite a strong core business, with Google potentially monetizing its AI investments through its stake in Anthropic. The analysis also touches on Amazon's strategic positioning in the inference era of AI and Microsoft's new agentic business model, alongside Apple's challenges with memory and chip shortages impacting its AI-enabled Macs. AI

An opinion piece on LessWrong argues that integrating advanced AI into human-looking robots would significantly amplify existing risks associated with AI, such as influencing users in dangerous ways or reinforcing delusions. The author cites examples of AI companies deflecting responsibility for harmful chatbot interactions and prioritizing engagement over safety. Separately, an essay prize highlighted discussions on managing future AI funding and the potential IPO of Anthropic, with one essay noting that Anthropic's co-founders have pledged to donate 80% of their wealth. Additionally, a Mastodon post shared an inspiring interview with Sam Altman about AI's transformative potential by 2050, while another noted Anthropic CEO Dario Amodei's concerns about AI's risks, particularly in biological warfare. AI

The cost of AI coding tools like Copilot and Claude is increasing, prompting questions about whether it's more economical to hire human programmers. This trend is occurring alongside broader economic shifts, such as a significant reduction in credit card offerings in China and a Brazilian retailer seeking bankruptcy protection. Additionally, there are discussions around data center projects and user privacy concerns related to AI and tech giants. AI