Uber’s board met Saturday to raise its bid for Delivery Hero after a major shareholder rebuffed an offer that valued the German group at over €11.5 bn. The move signals a broader trend of tech firms courting high‑cost infrastructure.

Meanwhile, NextEra’s $420 bn tie‑up with Dominion targets power for Virginia’s data‑center cluster, the heart of AI’s energy appetite. The deal showcases how utilities now gatekeep the physical backbone that fuels AI growth.

Private‑capital giants such as BlackRock, Blackstone and Apollo are pouring trillions into AI‑related assets, reshaping deal structures and financing models. Their investments underline the shift from software‑only deals to those demanding massive hardware and energy capacity.

As AI firms race for scale, regulators face unprecedented challenges. The pace of mega‑M&A, coupled with public backlash over data‑center costs, could prompt tighter scrutiny and new rules that may slow future transactions.