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Elon Musk, Palmer Luckey and Newt Gingrich will co-direct Project Meridian. The Pentagon study will identify the technology the US military needs to fight future wars. Secretary of War Pete Hegseth commissioned it on Wednesday, the Department of War said.
Boeing will build the US Navy’s next carrier-based fighter, the F/A-XX, after beating Northrop Grumman for the contract. The Pentagon announced the award on Tuesday. The development contract is worth 0bn to produce test aircraft, Reuters reported. CNBC and Axios put it at more than 0bn.
CScale, a Palo Alto startup building optical interconnect for AI data centres, has come out of stealth with $145m in Series C funding. The round takes its total funding to $188m, the company said in a statement on Wednesday.
The AI industry will need about $6tn in annual revenue by 2031 to pay for the data centres being built today. Bain & Company makes the estimate in its Global Technology Report, published on Tuesday. Existing AI products could bring in only $1.2tn to $1.8tn of that.
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