Alexander Beckman, founder of the AI startup GameOn Technology, and his wife, Valerie Lau Beckman, were indicted on 25 charges, including conspiracy and wire fraud, for allegedly defrauding investors of $60 million over six years. The couple faces potential sentences exceeding 60 and 80 years, respectively, and must forfeit assets gained through the scheme. The indictment details a complex web of financial deception, including exaggerated revenue figures, forged documents, and personal use of investor funds for expenses like a $4.2 million home and a Tesla Model X.
Full Article
Microsoft Continues A.I. Spending Growth as Profit Grows 10%
Investors concerned about big tech companies' spending on artificial intelligence were not reassured by Microsoft's recent financial results, showing a $22.6 billion investment in data centers for cloud computing and A.I. Sales of Azure, Microsoft's cloud service, grew 31%, with over a third attributed to A.I. services. Despite concerns raised by DeepSeek's advanced A.I. system, Microsoft continues to invest in A.I. infrastructure and partnerships, while also increasing capital expenditures at a slower pace in the...
Read more