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OpenAI partners with Broadcom to design custom AI chips
OpenAI said Monday it is working with chipmaker Broadcom to design its own artificial intelligence computer chips. The two California companies didn't disclose the financial terms of the deal but said they will start deploying the new racks of customized “AI accelerators” late next year. It's the latest big deal between OpenAI[...]
For the Record October 2025
Central Virginia Pharmaceutical company AstraZeneca is planning to locate a major manufacturing facility in Albemarle County, a state official confirmed to Virginia Business in August. A state commission has voted to recommend that the General Assembly approve a state incentives package exceeding $10 million for the project. Gov. Gl[...]
Virginia employers face new costs from Trump’s $100k H-1B visa fee
With nearly 25,000 H-1B visas approved for workers tied to Virginia in 2024, the commonwealth's companies and universities have a lot at stake following the Trump administration’s move to impose a $100,000 annual fee on the visas for skilled workers. The Trump administration's latest plan to overhaul the American immigration syste[...]
Google faces antitrust déjà vu as US seeks to break up its digital advertising business
After deflecting the U.S. Justice Department's attack on its illegal monopoly in online search, Google is facing another attempt to dismantle its internet empire in a trial focused on its abusive tactics in digital advertising. The trial scheduled to begin Monday in an Alexandria, Virginia, federal court will revolve around the ha[...]
Chesterfield approves fusion power plant permit
Commonwealth Fusion Systems received the zoning approval needed for its planned Chesterfield County facility that’s expected to be the world’s first grid-scale commercial nuclear fusion power plant. The Chesterfield County Board of Supervisors unanimously approved on Wednesday a conditional-use permit for a fusion facility at a 94[...]
Google hit with $3.5 billion fine from European Union in ad-tech antitrust case
European Union regulators on Friday hit Google with a 2.95 billion euro ($3.5 billion) fine for breaching the bloc’s competition rules by favoring its own digital advertising services, but the bloc's latest move to crack down on Big Tech companies drew outrage from President Donald Trump. The European Commission, the 27-nation blo[...]
Wall Street steadies itself as Alphabet pulls tech stocks higher
NEW YORK (AP) — Wall Street is steadying on Wednesday as Alphabet and other technology stocks rise. The S&P 500 added 0.3% and was on track to break its two-day losing streak since setting its latest all-time high. The Dow Jones Industrial Average was down 179 points, or 0.4%, as of 12:32 p.m. Eastern time, and the Nasdaq comp[...]
Nuclear fusion company raises $863M, much bound for Chesterfield
Massachusetts-based fusion energy company Commonwealth Fusion Systems, which is planning to build the world's first grid-scale nuclear fusion energy plant in Chesterfield County, announced it has raised $863 million in a Series B2 fundraising round, much of which will be used to construct the $2.5 billion-plus plant. CFS will use[...]
Retail | Wholesale | Food | Beverage 2025: WOODFIN, JACK
Woodfin’s parents, John and Anne, started Woodfin Heating in 1977 to sell heating oil, growing it into one of the largest privately held HVAC-related businesses in Virginia. A Virginia Military Institute and University of Virginia Darden School of Business alum, Jack Woodfin began working with his parents in 1995 as a retail manager[...]
Virginia eyes nuclear to power booming data centers
Virginia is the data center capital of the world, home to the globe’s largest concentration of the energy- and water-devouring gluttons. Nearly a quarter of the electricity used in the state in 2023 was gobbled up by the increasing number of data centers serving Google, Amazon, Microsoft, and other tech giants. That growing power[...]
Government Contractors | Technology 2025: LING, CANDICE
Since taking over Microsoft’s federal arm in 2023, Ling has focused on forging partnerships and advancing artificial intelligence, cloud computing and emerging technologies for federal customers. She previously served as Microsoft’s civilian federal sector vice president and as a government industry leader in Asia. She also spent 19[...]
Government Contractors | Technology 2025: DAHUT, KAREN
Dahut became CEO of Google Public Sector, a subsidiary focused on government and educational contracting, in 2022. Before joining Google, Dahut led Booz Allen Hamilton’s $4 billion global defense business. Dahut served in the U.S. Navy for six years, including at the Navy Medical Research Institute in Maryland. As a civilian, she[...]
HEARD AROUND VIRGINIA September 2025
Booz Allen Hamilton, the McLean-based management and technology consulting firm, announced July 21 it intends to triple its venture capital commitment to $300 million, with plans to make 20 to 25 investments over the next five years in early-stage technology companies focused on the federal government. The company’s venture arm, Booz[...]
Google announces Chesterfield data center as part of $9B investment
Google plans to invest an additional $9 billion in Virginia through the end of 2026, with much of the funding going toward the development of a new data center in Chesterfield County, Gov. Glenn Youngkin announced Wednesday. The investments will be focused on cloud and artificial intelligence infrastructure, the governor said. Goo[...]
Stocks slip on Wall Street after last week’s rally
Stocks wavered in afternoon trading on Wall Street Monday, after a big jump last week on hopes for interest rate cuts from the Federal Reserve. The S&P 500 was down 0.2%, hovering around its all-time high. The Dow Jones Industrial Average fell 301 points, or 0.7% as of 3:09 p.m. Eastern time, pulling back from the record it se[...]
Chesterfield planners approve $2.5B+ nuclear fusion plant
Commonwealth Fusion Systems’ planned $2.5 billion-plus Chesterfield County facility, which could be the world’s first grid-scale commercial nuclear fusion energy plant, is advancing through the county’s approval process. The county’s planning commission unanimously approved a conditional use permit for the 400-megawatt facility, d[...]
Microsoft’s annual cloud revenue hits $75B, profit beats expectations
Microsoft said Wednesday that annual revenue for its flagship Azure cloud computing platform has surpassed $75 billion, up 34% from a year earlier. The Azure cloud business has been a centerpiece of Microsoft's efforts to shift its focus to artificial intelligence, but until Wednesday the company hadn't disclosed how much money it[...]
For the Record: August 2025
Central Virginia In late June, Bow Tie Partners unveiled its $5 million overhaul of BTM Movieland at Boulevard Square, which opened in 2009 inside a 53,000-square-foot former locomotive factory near Richmond’s Scott’s Addition neighborhood. The new attractions from the renovation projects are open, including two new large-format au[...]
Tesla tumbles and Alphabet rises to keep Wall Street near its records
NEW YORK (AP) — Wall Street is hanging near its records on Thursday, but the calm surface of the U.S. stock market is hiding some roiling moves underneath. Alphabet is rising, and Tesla is tumbling following a jumble of profit reports from big U.S. companies. The S&P 500 was 0.2% higher in morning trading after setting an all[...]
BLS: Virginia only state with notable June jobless rate increase
Virginia was the only state last month to see a statistically significant unemployment rate increase, according to survey data released last week by the Bureau of Labor Statistics. According to the Friday BLS report, Virginia’s unemployment rate in June increased to 3.5%, a slight rise from May’s rate of 3.4%. This bump is the six[...]
