Rubio Rejects AI ‘Kill Switch’ Claims as U.S. Defends American Technology Abroad 
OpenAI Australia Data Center Switches Cooling Strategy After Recycled Water Plan Fails 
Super Micro Computer Stock Jumps 20% After Record AI Orders and Margin Surge 
SpaceX Stock Slump Wipes Out Nearly $700 Billion From Elon Musk’s Paper Wealth 
ASML Trillion-Dollar Valuation: Can Europe’s AI Chip Giant Reach the Historic Milestone? 
Amkor Stock Surges 17% After $1.5 Billion Nvidia AI Packaging Partnership 
Trump Administration Monitors OpenAI Incident as Lawmakers Push AI Kill Switch Bill 
Samsung Eyes Up to $1.14 Billion Investment in AI Startup Mistral 
Intel Stock Slips After Earnings Rally Despite Strong AI-Driven Revenue Growth 
Trump Orders Section 301 Probe Into EU Tech Fines, Signals New Tariffs 
SAP Beats Q2 Revenue Estimates as Cloud Backlog and Business AI Demand Drive Growth. 
Elon Musk Fuels SpaceX-Tesla Merger Speculation After Earnings Call 
Intel, AMD Seek Long-Term China Server CPU Deals as AI Demand Drives Supply Crunch 
Wistron Opens $700M Texas AI Factory to Build Nvidia Superchips in U.S. 
Bank of America Says These Overlooked AI Stocks Could Be the Next Winners 
Judge Approves Anthropic’s $1.5 Billion AI Copyright Settlement With Authors 
DoorDash is a food delivery firm that recently raised quite a bit of money thanks to the substantial influence of Japanese financial giant SoftBank. A recent round of funding raised $535 million for the company, raising its valuation to $1.4 billion. Apparently, the startup needed that money to expand its services to other cities.
As Fortune notes, there are so many food delivery companies in the U.S. that it can often be tough to keep track of them all. As such, in order to compete with all of these other firms, many of which have been established far longer than the startup, DoorDash will need to expand quickly. Thanks to SoftBank, Sequoia Capital, and GIC, the sovereign wealth fund from Singapore, this is now going to be possible.
DoorDash is currently operating in 600 cities in the U.S. and CEO Tony Xu wants to increase that to 1,600 by the end of the year. According to Xu, this success in funding, which was only supposed to raise $200 million is proof that investors see his company as a winner. However, this might not exactly be the case.
It would seem that SoftBank is such a prolific investor in western companies that it actually already has a stake in the food delivery market in the form of UberEATS, Recode reports. Its intention to fund DoorDash actually caused a bit of a stir among investors of the cab-hailing/food delivery firm, but the Japanese entity apparently sees no conflict.
SoftBank reportedly believes that the market for delivering food from restaurants to customers is big enough that it can support two dominant players along with a few smaller ones. Even knowing about this, Xu is also confident that his company is going to come out on top and said that he is fine with the financial giant hedging its bet.
