In an interview with the Financial Times, Thomson Reuters’ CEO Steve Hasker revealed the company’s plans to allocate an $8bn “war chest” for AI-focused acquisitions, aiming to revolutionize its information services for professionals.
“We have dry powder of around $8bn as a result of the cash-generative ability of our existing business, a very lightly levered balance sheet and the sell down of [our stake in] LSEG,” he said.
With a strong financial base, the media and data group intends to enhance its AI capabilities, both through developing its own technology and acquiring AI-equipped firms.
Recently, Thomson Reuters has invested $2 billion in companies with AI competencies, signaling a strategic pivot towards becoming a content-driven technology company. This move comes as generative AI starts to play a transformative role across industries, prompting Thomson Reuters to embrace the technology to maintain its edge in providing premium information services.
Hasker emphasized the company’s commitment to AI innovation, viewing it as pivotal for future growth and success.
