TNB Tech Minute: Top Amazon Executive to Join Meta in Cloud Push

**SPEAKER_1** (0:00)
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**Imani Moise** (0:16)
Here's your morning TNB Tech Minute for Friday, July 17th. I'm Imani Moise for The Wall Street Journal. We exclusively report that a top executive at Amazon's cloud division plans to join Meta in the coming weeks in a sign of the social media giants growing ambitions in developing data centers and computing resources as AI use continues to skyrocket.
According to people familiar with the matter, Amazon Web Services executive Dave Brown will bring his nearly two decades of experience to Meta to focus on its data center build out. Meta expects to spend up to $145 billion on capital expenditures this year, much of it related to its build out of AI data centers.
China's Moonshot AI has launched an AI model it says outperforms some cutting edge US systems, the latest sign that Chinese labs can rival their American counterparts. The startup said today that it plans to fully open source the model named Kimi K3 later this month. Moonshot called Kimi K3 the world's biggest open source model with 2.8 trillion parameters dictating its decision making. China's rapid advances in AI have been spurred in part by Beijing's efforts to become self-sufficient as it competes for technological supremacy against the US.
And in another exclusive, we report data analytics software provider Databricks is set to hit a $188 billion valuation. People familiar with the matter say investment firm Co2 Management is leading a $3 billion funding round. The new financing represents a 40% increase from the startup's valuation in December. Databricks is one of Silicon Valley's most valuable startups and is among a crop of companies long considered candidates for public listings. The new financing round is the company Series M, a letter rarely reached by private companies. And that's your TNB Tech Minute. We'll be back this afternoon with more.

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