Pentagon in talks to lend $5 billion to AI cloud startup Fluidstack, WSJ reports
FILE PHOTO: AI (Artificial Intelligence) letters and robot hand miniature in this illustration created on June 23, 2023. REUTERS/Dado Ruvic/Illustration/File Photo
Read a summary of this article on FAST.
Get bite-sized news via a new
cards interface. Give it a try.
Click here to return to FAST
Tap here to return to FAST
FAST
Sept 10 : The Pentagon is in talks to lend about $5 billion to AI cloud-computing startup Fluidstack to shore up the U.S. data center supply chain, the Wall Street Journal reported on Thursday, citing people familiar with the matter.
The money would come from the Pentagon’s Office of Strategic Capital, the newspaper said.
Fluidstack would use the loan to shore up the U.S. supply chain and manufacturing capacity for certain data center-related components, rather than funding a new AI facility outright, WSJ added.
The U.S. Department of Defense and Fluidstack did not immediately respond to a request for comment.
Guess Word
Crack the word, one row at a time
Buzzword
Create words using the given letters
Mini Sudoku
Tiny puzzle, mighty brain teaser
Mini Crossword
Small grid, big challenge
Word Search
Spot as many words as you can
U.S. President Donald Trump signed an executive order last month declaring a national emergency and banning the use of some foreign equipment in the U.S. electricity grid, which is used by data centers.
The Office of Strategic Capital has struck previous deals with rare earth companies Vulcan Elements, Phoenix Tailings and Energy Fuels.
It has also struck deals to provide funding to some drone companies, including Unusual Machines and Sequoia Capital-backed Neros, the WSJ previously reported.
Source: Reuters
Sign up for our newsletters
Get the CNA app
Stay updated with notifications for breaking news and our best stories
Get WhatsApp alerts
Join our channel for the top reads for the day on your preferred chat app
Get bite-sized news via a new
cards interface. Give it a try.
Click here to return to FAST
Tap here to return to FAST
FAST
