founders quit

Porsche Automobil Holding SE

11/02/2026 11:05

Click the following link to watch video: https://share.newscasts.refinitiv.com/link?entryId=1_qij7uqju&referenceId=tag:reuters.com,2026:newsml_RW450511022026RP1_930&pageId=Newscasts
Source: 'Reuters - Business videos'

Description: From market nerves growing about a so-called 'AI bubble' to yet more xAI co-founders quitting Elon Musk's firm, Francis Maguire rounds up the latest stories from the AI revolution. 

Short Link: https://lseg.group/4aJFZbq

Video Transcript:

From jittery Amazon investors to yet more co-founders quitting xAI, this is AI Weekly. Amazon investors were jittery about a so-called "AI bubble." Shares plunged as much as 11% after it projected a surge of more than 50% in capital expenditures. The e-commerce giant plans to pump $200 billion into its AI efforts this year, but that has some market watchers worried about returns on the investment. Sources have told Reuters ByteDance is developing an AI chip, and they said the Chinese firm is in talks with Samsung to make it. The TikTok parent wants to secure a supply of advanced processors. One source said ByteDance plans to produce at least 100,000 units of the chip this year, and it will be designed for AI inference tasks. xAI co-founders Tony Wu and Jimmy Ba have resigned. They didn't say why they're leaving, but it leaves Elon Musk's firm with just half of its 12 co-founders. Wu and Ba started the company with the billionaire Tesla and SpaceX CEO less than three years ago. The Financial Times reported Ba resigned due to tensions within its technical team over demands to improve its AI model performance. A Silicon Valley giant once again found itself in hot water with the European Union. EU regulators threatened Meta with temporary restrictions to stop it blocking AI rivals from its WhatsApp messaging service. It would come while they investigate suspected abuse of a dominant position by the US tech giant. Meta said there was no reason for the EU to intervene. And robotics company, RobCo, has raised $100 million from major backers like Volkswagen and Exor. The German firm is working to advance so-called "physical AI technology" and wants to expand in the US. Roman Holzl is the company's co-founder and CEO.

Yes, physical AI to us at RobCo is the application of AI in the physical world. So fast concretely, that means in the manufacturing environment, in the industry, in production environments.

RobCo specializes in modular systems aimed at industrial automation tasks like pallet stacking and component engraving.