In today’s Tech Briefing: Big Tech outspends entire industries lobbying the European Union, with Meta leading a €151 million push to influence digital policy. Oracle plans up to $75 billion in debt to fund global AI data centers. And OpenAI’s Argentum and Mercury projects train AI to perform consulting and banking tasks.
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Hello and welcome to your 2-Minute Tech Briefing from Computerworld. I'm your host, Jason Robinson, reporting from the floor of the New York Stock Exchange. And here are the top IT news stories you need to know for Thursday, November 6th.
From ComputerWorld, the world's biggest tech companies are now spending more money lobbying the European Union than the pharma, finance and automotive industry combined. According to Politico, major US firms have sharply increased their budget to influence EU digital policies.
In total, 733 digital companies now spend about 151 million euros a year, lobbying up from 113 million euros in 2023. Critics warned this surge could weaken EU oversight next from CIO, a major financial shift from Oracle.
A new report from Morgan Stanley calls the company's AI driven data center expansion a profound change in its capital posture. Oracle could soon issue up to 38 billion in debt, possibly climbing as high as 75 billion to fund its global cloud infrastructure.
Analysts say this move from cash funded growth to debt finance expansion introduces a new risk for CIOs and investors alike. And finally, from Computerworld, Open AI is training its models to take on entry level consulting and banking tasks.
Projects reportedly involve hundreds of former consultants and bankers teaching AI systems how to build financial models and conduct industry specific analysis. Open analysis summed it up this way, it's not just an AI that chats, it's an AI that contributes. That's your 2-Minute Tech briefing for today.
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