David Pan / Bloomberg:
Galaxy Digital reports a Q4 net loss of $482M, above $282M est., driven primarily by the crypto market crash, and says its trading volumes declined ~40% QoQ  —  Billionaire Michael Novogratz said he remains optimistic even after Galaxy Digital Inc. posted a wider-than-expected loss …

Jason Schreier / Bloomberg:
A profile of Obsidian, a game studio Microsoft acquired in 2018, as it seeks to expedite game development and reduce costs after releasing three titles in 2025  —  Microsoft's Obsidian Entertainment is searching for ways to make games more quickly and on smaller budgets.

Eleanor Olcott / Financial Times:
An interview with Kai-Fu Lee on his startup 01.ai, which builds agentic AI tools for companies, why he thinks China will beat the US in consumer AI, and more  —  Chinese AI pioneer talks about the competition between the technology's two superpowers and why companies need to be more proactive in adopting it

Michelle Chan / Financial Times:
Sources: banks are marketing at least $56B in investment-grade data center construction loans tied to Oracle's leases, as they seek out new buyers for the loans  —  Rare investment-grade rating helps attract insurers and private credit funds to construction debt

Nikkei Asia:
AMD reports $390M in revenue from MI308 AI chip sales in China in Q4; CEO Lisa Su says orders were “from very early in 2025” but shipped in Q4 after US approval  —  Company sees $100m more revenue from China as Beijing weighs rules on Nvidia, other foreign chips