Thomson Reuters Has ~$8b in Funds for AI Deals, Investments: FT

Thomson Reuters has about $8b in funds to spend on purchases and investments in artificial intelligence, the Financial Times reports, citing an interview with CEO Steve Hasker.

• Plans to spend more than $100m on developing its own AI technology every year to serve customers in sectors including legal, tax and accounting
• Says Thomson Reuters will exit stake in LSEG entirely next year and that Reuters News “is not for sale”
• NOTE: Bloomberg LP, the parent of Bloomberg News, competes with Reuters as a provider of financial news and services
• NOTE: In March, Blackstone, Thomson Reuters Sell £1.9 Billion of LSEG ...