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News
One year after a bipolar episode put him in the hospital, Bonobos cofounder Andy Dunn sold his company to Walmart for $310 million
11+ hour, 36+ min ago (447+ words) Over the course of his two-decade career, entrepreneur Andy Dunn has launched several businesses and invested in dozens more. One of his biggest moves to date was selling his menswear brand Bonobos to Walmart in 2017 for a whopping $310 million. But…...
OpenAI's Altman won't do IPO this year, calls AI extinction risk 'unacceptable"
16+ hour, 11+ min ago (518+ words) LOS ANGELES, Sept 12 (Reuters) - OpenAI will not go public in 2026, Chief Executive Sam Altman said in remarks published on Saturday, citing safety concerns over artificial intelligence that render "unacceptable" even a 10% risk that AI could cause human extinction by decade's…...
OpenAI Debuts Financial Tool Tailored to Investment Bankers
3+ day, 2+ hour ago (298+ words) (Bloomberg) -- OpenAI is releasing ChatGPT for Financial Services, a new tool tailored to investment bankers and equity researchers that is its latest attempt to compete with rival Anthropic PBC to expand AI adoption among businesses. Apple to Unveil $2,000 Foldable iPhone…...
Huawei Lifted Prices for Its Best AI Chip By 60% This Summer
3+ day, 11+ hour ago (274+ words) (Bloomberg) -- Huawei Technologies Co. has notified some clients that it's significantly increasing the prices of its most advanced AI accelerators, reflecting how demand is rapidly outstripping supply during the data center boom. Apple to Unveil $2,000 Foldable iPhone Duo at High-Stakes…...
Nvidia plans major expansion of data centre capacity in Australia to meet AI demand
3+ day, 16+ hour ago (205+ words) SYDNEY, Sept 10 (Reuters) - Nvidia said on Thursday it was planning an expansion of data centre computing capacity in Australia that would more than double the nation's current load through partnerships with local firms. The chip company said it was working…...
US DOJ probes Nvidia's licensing deal with AI startup Groq, NYT reports
3+ day, 18+ hour ago (91+ words) Yahoo! Finance Canada Oops, something went wrong US DOJ probes Nvidia's licensing deal with AI startup Groq, NYT reports Sept 9 (Reuters) - The U.S. Justice Department is investigating whether Nvidia tried to skirt antitrust scrutiny of the chipmaker's licensing deal last year…...
Neo Financial says it is cutting 102 positions, amounting to about 10% of its staff
4+ day, 21+ hour ago (104+ words) CALGARY — Neo Financial says it is laying off 102 of its employees, amounting to about 10 per cent of its workforce. The Calgary-based financial technology firm announced the move in a post on LinkedIn, sharing a message that was sent to employees....
Bernstein Revamps Alibaba Stock Target After $10.2 Billion Raise
5+ day, 6+ hour ago (322+ words) Bernstein SocGen lowered its Alibaba (NYSE:BABA) price target after the companys $10.2 billion equity raise raised doubts about AI spending. Analyst Robin Zhu cut his target from $180 to $165 but maintained a Buy rating. He questioned the deals timing and optics,…...
BofA Sees Clear Winner Between Adobe and Oracle
6+ day, 7+ hour ago (304+ words) Adobe (NASDAQ:ADBE) and Oracle (NYSE:ORCL) report earnings on the same day, September 10, but Bank of America sees the two AI software giants moving in opposite directions. Analyst Tal Liani maintained a Buy rating and $240 target on Oracle, implying…...
Anthropic agrees to $45bn cloud computing deal with Nscale - report
2+ week, 4+ day ago (292+ words) Investing.com -- Anthropic PBC has agreed to spend $45 billion to rent AI cloud computing power from Nscale's data center development in West Virginia, Bloomberg reported Wednesday. The deal comes as the AI company works to secure capacity ahead of its…...