Here's your morning TNB Tech Minute for Wednesday, July 30th.

I'm Adriana Aspuru for the Wall Street Journal.

A few exclusives for you this morning, Amazon will pay the New York Times between $20 and $25 million a year in an AI deal.

That's according to people familiar with the matter.

The companies announced their deal in May and said it gives Amazon access to content from the Times News, cooking products,

and its sports property, The Athletic. Amazon can use this to train AI models and feature Times

excerpts in its products, including Alexa. This is the first AI-related licensing pact

for the Times and Amazon's first such agreement with the publisher. Also, the AI finance app,

Ramp, says it has raised $500 million in its latest funding round in the series E2 funding round,

led by iconic growth, with participation

from existing investors, including Founders Fund and D1 Capital Partners, said it values the

startup at $22.5 billion. The startup uses AI to automate corporate finance tasks and says it

has about 40,000 businesses using it, including Fortune 100

companies. The company's platform is built on AI models from OpenA.I., Anthropic, and others.

Elsewhere, LG Energy Solutions has secured a $4.3 billion contract to supply Tesla with lithium-iron

phosphate batteries for three years.

The company's U.S. factories will produce LFP batteries for Tesla's energy storage systems

amid growing demand. This deal comes as South Korea looks for a trade agreement with the U.S.

and LG Energy counters slowing EV demand. LG Energy didn't identify the client due to a confidentiality agreement.

A person familiar with the contract said the customer was Tesla.

Tesla didn't immediately respond to a request for comment.

That's your TMB Tech Minute.

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