Hard Numbers: Exaggerated claims, Cash grab, Microsoft’s building plans, Chip stocks soar

1 million: Software company accessiBe has been charged $1 million by the Federal Trade Commission to settle charges that it lied about its AI tool being able to make websites accessible for people with disabilities. “Overstating a product’s AI or other capabilities without adequate evidence is deceptive,” said FTC consumer protection chief Samuel Levine.

56 billion: Generative AI companies raised $56 billion across 885 separate deals in 2024, according to new data from the financial website PitchBook. That’s up nearly 200% from 2023’s $29.1 billion total. Only $6.2 billion went to non-US firms, which means Silicon Valley is still king in the world of AI.

80 billion: To support its AI ambitions, Microsoft plans to spend $80 billion to construct data center infrastructure in 2025. In a blog post published on Friday, the company specified that more than half of that will go toward facilities in the US, “reflecting our commitment to this country and our confidence in the American economy.”

4: Microsoft’s announcement sent chip stocks flying Monday, with the Philadelphia Semiconductor Index rising 4% on the news. The biggest gainers included computer memory company Micron and equipment manufacturer Applied Materials. Contract chipmaker Foxconn also posted positive earnings to start the week, boosting high-profile customer Nvidia 5% in the process.