Business News
SpaceX has finalised a $60 billion acquisition of the artificial intelligence coding startup Cursor, which is a crucial element in Elon Musk’s strategy to enhance competitiveness against rivals Anthropic PBC and OpenAI. The deal became effective on Aug. 14, as
China’s Lenovo Group reported a 43% increase in quarterly revenue on Thursday, surpassing forecasts and propelling shares up as much as 22%. The world’s largest computer maker is capitalising on an AI hardware boom while also benefiting from a global
In an effort to raise over $500 billion in third-party funding over time for the development of artificial intelligence infrastructure, Nvidia announced on Monday that it is partnering with six significant financial institutions to create independent compute finance platforms. The
Warner Bros Discovery fell short of second-quarter revenue expectations on Thursday, impacted by disappointing box-office performance and weak advertising sales attributed to the lack of National Basketball Association games. Studio revenue declined by 39 percent, with releases such as Mortal
Uber Technologies projected that its adjusted earnings for the current quarter (Q3) would fall short of Wall Street expectations on Wednesday, citing that foreign exchange impacts would dampen bookings growth. The company also reiterated its commitment to significant investments in
Saudi oil major Aramco reported a 44% increase in second-quarter net profit on Tuesday as it benefited from elevated prices for crude oil, refined products, and chemicals while redirecting shipments away from the conflict-affected Strait of Hormuz. However, it cautioned
SpaceX has elaborated on its strategy to directly compete with the major mobile phone carriers in the United States by enhancing its satellite-based internet service with terrestrial infrastructure. The three largest operators — AT&T, Verizon, and T-Mobile — generate hundreds
OpenAI Addresses Apple’s Trade Secrets Case
Hours after Apple sought a preliminary injunction from a US court in its trade secrets case against OpenAI, the ChatGPT maker countered by asserting that the iPhone manufacturer had misrepresented the facts. In a blog post on Monday, OpenAI published
Video game developer Atari announced on Monday that it achieved annual revenue of €56 million, equivalent to $65 million, marking its highest earnings in over ten years. This resurgence can be attributed to a strategic focus on revitalising classic franchises
AstraZeneca Plc and Bristol Myers Squibb engaged in initial talks regarding a potential merger that could result in the formation of one of the largest pharmaceutical entities globally, boasting a combined valuation of nearly $400 billion, as reported by an
