By Frank Spaulding, AI for Business Today | Thursday, July 23, 2026

Today: massive new deals, a Big Tech cash crisis, OpenAI going full consultant, a $5 billion government science mission, and a new tool catching bias in medical AI. Let's get into it!

The Deal Sheet

AMD and Anthropic announced a partnership to deploy up to two gigawatts of AMD's AI chips, roughly the power of two nuclear reactors, and AMD is investing up to $5 billion in Anthropic, its first equity stake in an AI company. It's a direct challenge to Nvidia's near-monopoly on AI chips. Meanwhile, BlackRock and a Microsoft-backed group closed a $40 billion acquisition of Aligned Data Centers. Between the two deals, that's $45 billion in AI bets in a single day.

Big Tech's Cash Crunch

Google reported negative free cash flow of $5.9 billion, the first time in at least a decade it burned more cash than it made in a quarter, after saying it expected to spend up to $190 billion on AI. Meta, Microsoft, and Amazon are all feeling the squeeze too. The New York Times summed it up: AI is lifting markets and the economy, but it's raising risks for both.

OpenAI Goes Enterprise

OpenAI launched a service called Presence, essentially consulting from the company that built ChatGPT, to help businesses actually implement AI, backed by a $150 million enterprise partner program and a new OpenAI Deployment Company. The message: the technology alone isn't enough anymore, businesses need help putting it to work.

Five Billion for Science

The Trump administration announced the Genesis Mission, committing over $5 billion to AI for scientific research, with the NIH and HHS joining to speed up drug discovery and fight chronic disease.

Medical AI Under the Microscope

Johns Hopkins built a tool that detects hidden bias in the datasets used to train medical AI, revealing flaws that could lead to inaccurate diagnoses for certain patient groups. Separately, STAT News argued that hospital CEOs, not IT departments, need to own AI governance, since handing it off to IT is "dangerously inadequate" for tools that affect patient care.

The Big Wrap-Up

AMD is investing $5 billion in Anthropic and deploying two gigawatts of AI chips. BlackRock and Microsoft allies closed a $40 billion data center deal. Google posted negative free cash flow for the first time in over a decade. OpenAI launched Presence, its enterprise consulting service. The government committed $5 billion to AI-driven science. And Johns Hopkins built a tool to catch hidden bias in medical AI.

Thank you. This is Frank, your AI for Business Today entrepreneur.