• Seagate shares drop 9%+, leading a group-wide sell-off after comments from its CEO raised concerns it won't be able to meet demand fueled by the AI buildout (CJ Haddad/CNBC)
• Sigma, which sells a cloud-native analytics platform that sits on top of data warehouses, raised an $80M Series E led by Princeville Capital at a $3B valuation (Cristian Dina/The Next Web)
• Musk v. Altman: the jury unanimously rejects Elon Musk's claims against Sam Altman, finding that the claims were filed outside of the statute of limitations (CNBC)
• Cursor releases Composer 2.5, saying it's better at sustained work on long-running tasks and follows complex instructions more reliably; it's built on Kimi K2.5 (Cursor)
• NextEra's $67B deal to buy Dominion, the largest utility merger in US history, signals a new era of utility consolidation to accommodate AI-driven power demand (Emily Forgash/Bloomberg)
• Sony is hiking the starting price of one-month and three-month PlayStation Plus subscriptions in "select regions", blaming "ongoing market conditions" (Jay Peters/The Verge)
• Nasdaq-listed Bitcoin Depot, North America's largest bitcoin ATM operator, files for bankruptcy, blaming "increasingly stringent compliance obligations" (Omkar Godbole/CoinDesk)
• Internal chats: in March, xAI offered employees $420 in exchange for completed tax filings as training data for Grok, but the bonuses haven't been paid out (Carmen Arroyo/Bloomberg)
• Amazon's Alexa+ now produces AI-generated "podcasts" on various topics in the US, featuring chats between two AI "co-hosts", using content from media outlets (Todd Spangler/Variety)
• Arkham: Iran's largest crypto exchange, Nobitex, processed $2.3B+ since 2023 via Tron and BNB Chain, including $23M+ since the Iran war started in February (Reuters)
• Iranian media: Iran launches "Hormuz Safe", a Bitcoin-backed insurance service for shipping companies transiting the Strait of Hormuz; ~1,500 ships are trapped (Golnar Motevalli/Bloomberg)
• The Vatican says Anthropic co-founder Christopher Olah will join Pope Leo on May 25 to launch the pope's first encyclical, setting out his views on the AI age (Flavia Rotondi/Bloomberg)
• Decart, which offers real-time generative video and GPU optimization tech, raised $300M at a ~$4B valuation, up from $3.1B after raising $153M in August 2025 (Robbie Whelan/Wall Street Journal)
• Strategy acquired 24,869 bitcoin for ~$2.01B at an $80,985 average price from May 11 to May 17, taking its holdings to 843,738 BTC, or 4%+ of the total supply (James Hunt/The Block)
• Sources: competition for Google's TPUs among its employees and researchers intensified as it prioritizes cloud customers and flagship AI products over research (Julia Love/Bloomberg)
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