Amy Thomson / Bloomberg:
Filing: Netflix plans a $25B share buyback, adding to a Dec. 2024 program that still has $6.8B for purchases; NFLX is down 13% since its Q1 earnings on April 16  —  Netflix Inc. announced plans to buy back $25 billion in stock after the company's shares dropped following a weak financial outlook.

Zijing Wu / Financial Times:
Sources: DeepSeek is fundraising to keep its researchers, some of whom have left for rivals whose valuations have soared; it is targeting a $20B valuation  —  Chinese AI start-up is raising funds for first time to keep researchers after several defections to rivals

Reuters:
Sources: Bain Capital seeks to sell a stake of 40%+ in Bridge Data Centres in a deal that would value the Singapore-based data infrastructure builder at $5B  —  U.S. investment firm Bain Capital is seeking to sell a stake of at least 40% in Bridge Data Centres (BDC) in a deal that would value …

Vincent Chow / South China Morning Post:
Tencent releases Hy3-preview, its first AI model developed under former OpenAI researcher Yao Shunyu; the model features 295B parameters, down from HY2's 400B  —  The model is relatively small with only 295 billion parameters, bucking a recent trend of large models with trillions of parameters

Reuters:
TSMC SVP Kevin Zhang says the company plans to open an advanced chip packaging plant in Arizona by 2029 and that construction has begun  —  Taiwan Semiconductor Manufacturing Co (2330.TW) plans to open a chip packaging plant in Arizona by 2029, an executive told Reuters.