GameStop’s wild bid for eBay
5/8/202613 min
Big Tech groups are expected to generate the smallest amount of cash in more than a decade this year, and investors are dumping Indian assets. Plus, GameStop CEO Ryan Cohen, has set his sights on his next project: a huge leveraged buyout of eBay.
Mentioned in this podcast:
Big Tech’s $725bn AI spending spree sends cash flows to decade low
Investors dump Indian assets as energy shock sends rupee sliding
Can the meme stock king pull off audacious eBay swoop?
Note: The FT does not use generative AI to voice its podcasts
Today’s FT News Briefing was hosted and edited by Marc Filippino, and produced by Katya Kumkova, Saffeya Ahmed, and Victoria Craig. Our show was mixed by Sam Giovinco. Additional help from Michael Lello and David da Silva. Our executive producer is Topher Forhecz. Cheryl Brumley is the FT’s Global Head of Audio. The show’s theme music is by Metaphor Music.
Credit: CNBC
Read a transcript of this episode on FT.com
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Transcript preview
First 90 secondsSpeaker 00:00
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Marc Filippino· Host0:14
[instrumental music] Good morning from the Financial Times. Today is Friday, May 8th, and this is your FT news briefing. Big tech is on a massive spending spree and investors are dumping Indian assets. Plus, can GameStop close a wild deal for eBay?
James Fontanella-Khan· Guest0:33
The test here is, like, whether a meme stock king can actually pull off the first meme M&A deal in history.
Marc Filippino· Host0:40
I'm Mark Philippo, and here's the news you need to start your day. [instrumental music] Big tech companies are burning through cash to invest in AI infrastructure. Amazon is expected to spend more than it makes this year. Meta and Microsoft will likely also dip into the red later on in twenty twenty-six. These three companies and Alphabet are hyper-focused on AI right now, and they could hit their lowest yearly free cash flow levels in more than a decade. That's according to forecasters. Back in twenty fourteen, though, their collective revenues were about seven times smaller. Tech companies have transformed into some of the biggest investors in AI