OpenAI is scouring the U.S. for sites to build a network of huge data centers to power its artificial intelligence technology, expanding beyond a flagship Texas location and looking across 16 states to accelerate the Stargate project championed by President Donald Trump.

WeWork has filed for Chapter 11 bankruptcy protection.

An American private equity group has narrowly won the battle to buy British supermarket chain Morrisons following a dramatic auction for the company.

Asian shares were mixed Wednesday after a lackluster day on Wall Street, as the boost from President Donald Trumps signing of the coronavirus relief package faded. (AP Photo/Koji Sasahara)Asian shares were mixed Wednesday after a lackluster day on Wall Street, as the boost from President Donald Trump’s signing of the coronavirus relief package faded. It is still on track to end the month 7.7% higher, more than twice as much as the S&P 500. The S&P 500 fell 8.32 points to 3,727.04. With two days of trading left in 2020, the S&P 500 is up 15.4% this year, while the Nasdaq is up 43.2%.

Stocks rose Tuesday in Asia after closing at record highs on Wall Street. (AP Photo/Lee Jin-man)BEIJING – Stocks rose Tuesday in Asia after closing at record highs on Wall Street. In Tokyo, the Nikkei 225 jumped 1.6% to 27,292.37, the first time it has traded above 27,000 since April 1991. Hong Kong's Hang Seng index rose 1% to 26,586.76 and in South Korea, the Kospi was little changed at 2,811.20. The broad rally came as investors welcomed the decision by President Donald Trump to sign a $900 billion coronavirus economic aid package despite his complaints that $600 payments for most individuals were too low.

TOKYO – Asian shares rose Monday, despite the rollercoast ride that closed Wall Street last week, as traders awaited cues from the U.S. central bank expected later in the week. “That decision should not be market moving as we fully expect a steady hand to remain on the tiller of Abenomics. Hong Kong's Hang Seng gained nearly 1.0% to 24,744.86, while the Shanghai Composite rose 0.6% to 3,278.89. Stephen Innes, chief global market strategist at AxiCorp, noted that investors face “many uncertainties," including the U.S. elections and the global pandemic. On Wall Street, the S&P 500 rose 1.78, or 0.1%, to 3,340.97 after a day of the lightning-quick shifts in momentum that have rocked Wall Street recently.

WeWork via CNN(CNN) - One month after WeWork's former CEO, Adam Neumman, received a massive payout despite all but running the company into the ground, more than 12,000 global staffers are bracing for mass layoffs this week. On Monday, WeWork's executive chairman Marcelo Claure confirmed that layoffs are imminent in an email to staff obtained by CNN Business. In the email, Claure said an all-hands scheduled for Tuesday would be moved to Friday "out of respect for the people who will be separated this week." About 1,000 cleaners and building maintenance staffers have already been told their jobs will be outsourced, according to a new grassroots coalition of WeWork employees advocating for them. He emphasized that WeWork's business is secure.

(CNN) - T-Mobile announced Monday that CEO John Legere will be stepping down at the end of next April after his contract expires. The surprise move comes as speculation swirls about the possibility that Legere was a leading contender to become the next CEO of WeWork although Legere shot down reports that he was looking to take that job. Legere will be replaced by Mike Sievert, who is currently the president and chief operating officer of T-Mobile. The company said Legere is going to remain a board member and will assist with the company's pending acquisition of rival Sprint. The-CNN-Wire & 2019 Cable News Network, Inc., a Time Warner Company.

But the man positioned to head that new company is in talks to lead another major undertaking: a rescue mission for WeWork. If he does end up at We Co., Legere would be leaving T-Mobile at a crucial time. T-Mobile's stock fell around 2.5% Monday afternoon following the news of Legere's talks with WeWork. The talks may point to the influence that Japanese holding company SoftBank, which owns a majority stake in Sprint, may have in the new combined wireless company. The merger with Sprint would make it a formidable competitor to larger wireless players Verizon and AT&T, which owns CNN.

SoftBank reported operating losses of $6.5 billion after market close on Wednesday, weighed down by a massive hit to its tech fund. TOKYO - Shares in SoftBank fell as much as 4% in Tokyo on Thursday after the company reported worse than expected losses for the third quarter. SoftBank reported operating losses of $6.5 billion after market close on Wednesday, weighed down by a massive hit to its tech fund. In Hong Kong, shares in Hong Kong Exchanges and Clearing fell 0.3%. The company, which operates the Hong Kong Stock Exchange, reported net profits of 2.2 billion Hong Kong dollars ($280 million) for the third quarter, slightly lower than market expectations.

SoftBank on Wednesday reported an operating loss for the most recent quarter of 970.3 billion yen ($8.9 billion) on its mega tech funds including the Vision Fund, which holds investments in Uber, WeWork, Slack and other major startups. The group reported losses of 704 billion yen ($6.5 billion) for the three months that ended in September, far worse than the 48.1 billion yen ($442 million) analysts polled by data provider Refinitiv had expected. SoftBank had reported operating profits of 706 billion yen ($6.5 billion) for the same period a year earlier. Before the bailout, the Vision Fund and SoftBank had already invested nearly $11 billion into WeWork. SoftBank's rescue package valued WeWork at about $8 billion less than half the total amount of money SoftBank and the Vision Fund have poured into the company.

WeWork via CNN(CNN) - SoftBank shares continued to slide Thursday after the company announced its massive WeWork bailout. SoftBank will pump $5 billion into The We Company and accelerate a $1.5 billion equity investment originally due to the company next year. SoftBank, already WeWork's largest investor, is also offering to buy up to $3 billion worth of stock from existing investors and shareholders. Asian stocks were otherwise mixed Thursday, with shares in South Korea edging lower after the country reported weak economic growth. The South Korean economy grew by 0.4% in the third quarter compared to the previous quarter, according to estimates released by the Bank of Korea on Thursday.

(CNN) - Current and former staffers at WeWork are outraged that former CEO and cofounder Adam Neumann would get a massive payout after he all but ran the company into the ground. In company-wide emails sent Wednesday, obtained by CNN Business, WeWork leadership attempted to level with staffers about the remaining questions facing the business. Neumann is "probably one of history's best grifters," said a former WeWork executive who spoke to CNN Business on the condition of anonymity. Some messages viewed by CNN Business highlight unease over how the deal and Neumann's payout may impact employees. "To be candid, what we are lacking is focus on our core business: WeWork, along with accountability, and seamless execution," he added.

(CNN) - WeWork co-founder Adam Neumann will reportedly get about $1.7 billion under a deal in which SoftBank will take control of the troubled company. Under that new expected valuation, SoftBank would have put more money into WeWork to date than the company is worth. Japanese conglomerate SoftBank is the largest investor of The We Company, WeWork's parent company. Some messages viewed by CNN Business highlight unease over how the deal and the reported payout may impact employees. He is now expected to step down from the board of directors as part of the latest SoftBank deal, according to multiple outlets.

PexelsBOSTON - The growing popularity of co-working spaces like WeWork could pose a risk to the US economy in the next economic downturn, a Fed official warned on Friday. "One such market model is the development of co-working spaces in many major urban office markets." That's because co-working spaces tend to sign long-term leases with the landlord, and then re-lease the spaces to smaller, less-established companies that would be "particularly susceptible to an economic downturn." Meanwhile, banks could see a higher level of default on loans to property owners in cities with a high degree of co-working spaces, said Rosengren. The warning comes the same week that WeWork owner, The We Company, postponed its initial public offering.

KSNV via CNN(CNN) - India's biggest hotel chain is on a global expansion spree. The 657-room property will be rebranded the OYO Hotel & Casino Las Vegas, with a makeover expected to be completed by the end of the year. The six-year-old startup, headquartered in the tech hub of Gurgaon near New Delhi, is targeting global domination, saying earlier this year that it wants to be the world's largest hotel chain by 2023. OYO claims to be the third-largest hotel chain in the world by number of rooms, behind Marriott and Hilton, with more than 850,000 around the world. It owns or franchises hotels and vacation homes across 800 cities in 80 countries, including the United States, United Kingdom, China and Saudi Arabia.

Kiyoshi Ota / Getty StringerTOKYO - SoftBank is launching another mega tech fund. The Japanese tech company said Friday that it expects to raise $108 billion for the new Vision Fund 2 from the likes of Apple, Foxconn, Microsoft and Kazakhstan's investment fund. Vision Fund 2 will plow money into tech startups driven by artificial intelligence. Son launched his first huge tech fund in May 2017, with nearly half the money coming from the Saudi government. But the kingdom is absent from the list of roughly a dozen companies, banks and institutions listed as partners for Vision Fund 2.