Maximilian Schreiner
Max is the managing editor of THE DECODER, bringing his background in philosophy to explore questions of consciousness and whether machines truly think or just pretend to.
Read full article about: With AI gains and softer demand, consulting starting pay is flat
Entry-level consulting salaries have remained flat for the second year in a row, according to a new report from Management Consulted. The slowdown affects top firms like McKinsey and the Big Four, as well as smaller boutique consultancies. The report cites weaker demand, productivity gains from AI, and fewer employees leaving the industry as key factors.
Namaan Mian of Management Consulted says firms can now get more done with fewer people thanks to AI, which is putting a lid on salary growth. The findings are based on verified offer data and show that companies are hiring fewer high-cost MBA graduates. In previous years, entry-level pay typically rose by five to ten percent annually. Management Consulted expects salaries for new hires to remain flat even if demand eventually picks back up.
Comment
Source: Management Consulted
Read full article about: HSBC relies on Mistral AI for global AI integration
HSBC has signed a multiyear partnership with the French startup Mistral AI to bring generative AI across its global operations. According to the announcement, the bank wants to speed up internal workflows and improve customer service by running Mistral's models on its own infrastructure.
HSBC plans to use the technology for financial analysis, translations, and risk assessments. The bank also expects gains in marketing and credit evaluation. It already uses AI for fraud detection and is folding the new tools into its existing security policies.
Read full article about: AI infrastructure expansion drives massive debt across major tech partners
A new Financial Times analysis found that several OpenAI partners have taken on roughly 96 billion dollars in debt to fund data center and chip expansion. The list includes major players like Oracle and Softbank, along with specialized providers such as Coreweave. According to the report, Coreweave's liabilities and lease obligations far exceed its expected annual revenue of five billion dollars.
The borrowing isn't limited to a few companies. Bank of America says the five largest tech firms, including Amazon and Microsoft, have issued 121 billion dollars in new debt this year - about four times their usual annual average. Deutsche Bank also reports rising credit default swap costs for companies like Oracle, pointing to growing concern among lenders and investors.
Read full article about: Google Cloud aims to capture ten percent of Nvidia's annual revenue with TPUs
Google is in talks with Meta and several other companies about letting them run Google's TPU chips inside their own data centers, according to a report from The Information. One person familiar with the discussions said Meta is considering spending billions of dollars on Google TPUs that would start running in Meta facilities in 2027. Until now, Google has only offered its TPUs through Google Cloud.
The new TPU@Premises program is Google's attempt to make its chips a more appealing alternative to Nvidia's AI hardware. According to someone with knowledge of internal comments, Google Cloud executives have said the effort could help the company reach ten percent of Nvidia's annual revenue. Google has also built new software designed to make TPUs easier to use.
Comment
Source: The Information
Read full article about: "Genesis Mission" to pool US data for AI models
US President Donald Trump signed an order on Monday to launch a shared AI platform for federal research data. Called the Genesis Mission, the effort aims to make large datasets from federal agencies usable for new AI models, according to White House adviser Michael Kratsios.
The Department of Energy will link its supercomputers, research datasets, and automated lab systems through the new platform. Kratsios said the goal is to have AI plan experiments, speed up simulations, and generate predictions on topics like protein structures and plasma behavior.
Energy Secretary Chris Wright pointed to the surge in private AI investment but argued that more of that momentum needs to shift toward scientific and technical research. He said the data held by federal labs is essential for that work. The order also highlights priority areas including biotechnology, space, energy, and semiconductor research.