Software

• Asian software stocks plunge after U.S. peers decline on fears over AI-led disruption - Wall Street's fears around artificial intelligence-driven disruption affecting software companies have made their way into Asia.
• Musk's xAI, SpaceX combo is the biggest merger of all time, valued at $1.25 trillion - The record-setting deal will be the largest merger of all time and is valued at $1.25 trillion
• Palantir beats fourth-quarter estimates on the strength of AI and defense demand - Palantir topped Wall Street's fourth-quarter estimates as more businesses and the U.S. government race to buy its artificial intelligence tools.
• OpenEvidence, the 'ChatGPT for doctors,' doubles valuation to $12 billion - OpenEvidence, based in Massachusetts, has topped a $12 billion valuation in a funding round led by Thrive and DST.
• Oracle shares on pace for worst quarter since 2001 as new CEOs face concerns about AI buildout - Investors want to know if Oracle, under new CEOs Clay Magouyrk and Mike Sicilia, can pay for and deliver data centers packed with Nvidia chips for OpenAI.
• ServiceNow acquiring cybersecurity startup Armis for nearly $8 billion - The enterprise software company said the deal will bolster its cybersecurity capabilities in the age of artificial intelligence.
• Google was at risk of losing its dominance — until it promoted this AI executive - Josh Woodward, a 16-year Google veteran, is tasked with running the Gemini app and going head-to-head with OpenAI in the booming generative AI market.
• Oracle stock jumps 5% as cloud provider joins investor group to run TikTok's U.S. business - The new joint venture will prevent TikTok from shutting down in the U.S. due to national security concerns.
• TikTok signs agreement to create new U.S. joint venture, memo says - TikTok's U.S. operations will be housed in a new joint venture, according to a memo sent to employees by CEO Shou Zi Chew.
• Altman and Musk launched OpenAI as a nonprofit 10 years ago. Now they’re rivals in a trillion-dollar market - As OpenAI turns 10, the former nonprofit AI lab is at the center of a roughly $1.4 trillion bet on AI infrastructure.