Microsoft and Meta Take Their AI Capex to Investors With OpenAI as the Backlog
Microsoft and Meta print after the bell with $135 billion of Meta capex and 45 percent of Microsoft's $625 billion backlog tied to one OpenAI counterparty.
Business
Caterpillar Walks Into Thursday With an $800 Million Tariff Bill
Caterpillar disclosed its $800M Q1 tariff bill back in January, so Thursday's print arrives with the cost already on the table and the data-center boom still running.
WBD Stockholders Approved the Merger and Rejected the Goodbye Package
WBD shareholders gave 1.74 billion shares to the merger and 1.44 billion against Zaslav's pay — dispositive on the deal, advisory and ignored on the package.
SpaceX Bridge Loan Replaces Day-Five Silence With a $20 Billion Number
SpaceX took a $20 billion bridge loan with a six-month IPO-tied repayment that rolls X and xAI debt into one balance sheet and turns the silence into a number.
Avex Closes Its First Catalog Bet With a $100 Million Bank Line
City National financed Avex's $100M line and Infamous's catalog opened it, putting music IP on a balance sheet with a commercial bank attached.
Lionsgate Books Michael Past $100 Million Domestic
Michael cleared $104.9M domestic in four days with a 70% Sunday-Monday drop and an estate co-producer, putting Lionsgate's balance sheet inside the biopic record.
Ohio Data Center Petition Drive Enters Week Six Without a Statewide Number
AEP Ohio knows the contracted load to the megawatt; the ballot organizers will not say how many signatures they have.
Adobe Closes Semrush and Renames the Unit Agentic AI
Adobe spent $1.9 billion to fold an SEO toolkit into a deck slide called agentic AI; the unit now sells brand visibility through a chatbot.
RELX Buys Doctrine and Makes Legal AI a European Acquisition Story
LexisNexis's parent agreed to buy a French legal-AI startup and skipped the partner phase entirely — the cleanest answer to vendor risk is ownership.
UPS Beats on Both Lines and Refuses to Raise the Year
UPS cleared estimates on revenue and profit and reaffirmed the year anyway — the freight bellwether is telling shareholders the tariff number is not finished.
Boeing's Order Book Hits a Record 695 Billion Dollars
Boeing posted a tiny loss and the largest backlog in company history; the May Trump-Xi summit is now where the next big number gets announced.
Treasury Quietly Renews the Russian Oil Waiver Through May 16
OFAC let Russian oil cargoes already at sea keep moving until May 16, two days after the Treasury secretary said the waiver was finished.