Business News
Stellantis Hits $26.5B Writedown in EV Setback
Stellantis revealed on Friday that it would incur charges amounting to 22.2 billion euros ($26.5 billion) as it reduces its electric-vehicle aspirations, significantly impacting its shares as conventional automakers face the consequences of miscalculating the transition to cleaner transportation. The
Sony’s profit in the last quarter surged 11 per cent on healthy global sales, prompting the Japanese entertainment and electronics company to raise its full-year profit forecast. Tokyo-based Sony Group Corp. announced on Thursday that it achieved a net profit
For a significant portion of the last three years, Elon Musk’s xAI has endeavored to rival the foremost AI laboratories, including OpenAI, the organization he co-founded and subsequently had conflicts with. The outcomes have been varied: xAI’s premier product, the
Elon Musk is merging SpaceX and xAI in a transaction that values the combined entity at $1.25 trillion, as the world’s richest man aims to support his growing ambitions in artificial intelligence and space exploration. The acquisition of xAI was
Oracle Corp. intends to secure between $45 billion and $50 billion this year via a mix of debt and equity sales to enhance its cloud infrastructure capacity, illustrating the substantial financing required to support the expansion of AI. Oracle is
Apple’s AI Team Hit by Talent Drain
Apple Inc. has experienced a departure of at least four additional artificial intelligence researchers in recent weeks, alongside a prominent Siri executive, with these individuals moving on to companies like Meta Platforms Inc. and Google DeepMind. The most recent departures
Nvidia Corp.’s negotiations to invest as much as $100 billion in OpenAI have collapsed, according to the reports, revealing a possible divide between two of the most influential companies in the artificial intelligence sector. The discussions came to a standstill
Elon Musk stated that Tesla Inc. must construct and manage what he refers to as a “TeraFab” for semiconductor manufacturing, a significant endeavor that will require billions of dollars and signify yet another expansion beyond the company’s foundational electric vehicle
On Tuesday, Amazon seemingly notified its Amazon Web Services cloud-computing employees about impending layoffs scheduled for Wednesday morning by dispatching a commiseration email and a team-wide meeting invitation ahead of time. On Friday, it is reported that Amazon plans to
Starbucks CEO gets $31 million in 2025
Starbucks Corp. Chief Executive Officer Brian Niccol’s total compensation reached $31 million in fiscal 2025, reflecting a decrease from the prior year when he was awarded stock rewards and other incentives as part of a strategy to attract him from