OpenAI is in talks to raise $40 billion in new funding at around a $300 billion valuation including the new capital, according to a person familiar with the discussions. The deal would nearly double the company’s valuation from a funding round that closed in October, in which investors valued ... Read more ›
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Elon Musk’s X earned about $1.2 billion before interest, taxes, depreciation and amortization and other expenses in 2024, Bloomberg reported, citing what banks are telling investors considering buying X bank debt now being offered for sale. The Bloomberg report said X earned $400 million ... Read more ›
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The Department of Justice sued to block Hewlett Packard Enterprise’s $14 billion acquisition of Juniper Networks, which was announced last January, on the grounds that the combination would create a duoploy, along with Cisco Systems, that would stifle competition in the market for wireless ... Read more ›
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How fast is DeepSeek open source artificial intelligence taking over the business world? Look no further than Meta Platforms, which is evaluating whether to use the Chinese-made AI in its advertising products despite spending the past two years developing its own Llama open-source models, my colleague Kalley reported Wednesday. Also this week, Goldman Sachs Chief Information Officer Marco Argenti told me his team is also interested in using DeepSeek, but... Read more ›
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The number of Amazon packages sent through United Parcel Service will drop by more than 50% by the second half of next year, UPS said. UPS shares dropped more than 15% shortly after the market opened on Thursday. Amazon spokesperson Kelly Nantel said: “UPS requested a reduction in volume and we ... Read more ›
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The only thing coming at us faster these days than advances in artificial intelligence’s capabilities is the amount of industry jargon we’re all needing to decipher. Don’t know the difference between open weights and open source? Still trying to distill the meaning of AI distillation, the process DeepSeek may have used to copycat OpenAI’s work? Our new glossary is a font of deep learning—and hopefully a useful guide to a... Read more ›
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The word of the moment in artificial intelligence is distillation. Distillation is the technical term for transferring knowledge from one large language model, which acts like a teacher, to another model that acts as a student. And it’s likely one of the key ways a Chinese quant fund replicated OpenAI’s o1 reasoning model and set the industry on fire with DeepSeek, OpenAI said publicly Wednesday. Distillation involves the student model... Read more ›
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Live sports are costly for media companies and streaming service owners—and increasingly, for viewers too. Comcast executives hinted at upcoming price hikes at its Peacock streaming service to offset the costs for live NBA games, which will air on Peacock and its NBC network starting later this ... Read more ›
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The power demands of artificial intelligence have already led the tech giants to scale back their climate goals. Now the intense battle to dominate AI has created a frenzy of dealmaking to secure enough electricity to power a major city. That’s created a clash between the fast-moving, lightly regulated tech industry and the nation’s heavily regulated power grid and electric utilities. To get around the bottleneck, data centers are becoming... Read more ›
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SoftBank is in talks to invest as much as $25 billion in OpenAI, in a deal that would make the Japanese firm the largest financial investor in the U.S. artificial intelligence giant, according to the Financial Times. SoftBank and OpenAI are together leading Stargate, a joint venture to develop ... Read more ›
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If we learned anything from tonight’s December-quarter earnings announcements from Microsoft and Meta Platforms, it’s that we’re still in a wait-and-see mode on artificial intelligence. In fact, Meta CEO Mark Zuckerberg declared that 2025 would be a “big year” because the trajectory of most of the company’s big bets—such as on its AI assistant—will be a “lot clearer by the end of this year.” In other words, by December we’ll... Read more ›
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Tesla shares rose more than 4% in after-hours trading after CEO Elon Musk said the company would deploy unsupervised driverless cars in a paid service in Austin, Texas in June and the rest of the U.S. next year. Musk told Wall Street analysts that the company would initially deploy a Tesla-owned ... Read more ›
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Meta Platforms is still enthusiastic about creators. That much was clear from the Instagram parent’s earnings call on Wednesday.Chief financial officer Susan Li said “creators are one of our central focuses,” while CEO Mark Zuckerberg said he’s focused on growing Facebook’s cultural influence. He didn’t elaborate, but it seems likely that Meta could use video creators as a key way to make the aging blue app cool again. Read more ›
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Trump administration officials are in the early stages of considering additional restrictions on Nvidia’s sales of artificial intelligence chips to China, Bloomberg reported. The rules could target an Nvidia chip, H20, designed for the Chinese market. It’s less powerful than chips sold elsewhere ... Read more ›
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Coinbase announced it added four political and economic leaders to its advisory council, strengthening its ties to Washington. They include Chris LaCivita, manager of Donald Trump’s 2024 presidential campaign and currently chief of staff for the Republican National Committee, and Bill Dudley, ... Read more ›
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Database provider Snowflake this week discussed an acquisition of Redpanda, a data analysis software startup valued at around $500 million in 2023, according to a person who has been part of the talks. An acquisition of the firm could upgrade Snowflake’s artificial intelligence services, an area where the company has lagged rivals such as Databricks. Redpanda sells software that financial firms and retailers use to analyze continuously flowing data, known... Read more ›
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Meta Platforms, the owner of Facebook, Instagram and WhatsApp, on Wednesday reported 21% higher fourth-quarter revenue of $48 billion, slightly faster growth than the previous quarter. But the company projected a sharp slowdown in revenue growth for the first quarter, to between 8% and 15%. At ... Read more ›
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Data storage hardware company Western Digital reported a 41% lift in revenue to $4.29 billion for the quarter ended January, thanks to sharp growth in its business of selling data storage devices to cloud computing providers. WDC reported revenue of $2.3 billion from sales to cloud ... Read more ›
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Microsoft said Wednesday its revenue grew 12% in the fourth quarter of 2024 compared to the same period a year earlier—four points slower than its third quarter growth—as growth in its Azure cloud server rentals also slowed for the second consecutive quarter. Still, the company said revenue from ... Read more ›
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OpenAI has found evidence that the Chinese firm behind DeepSeek, a powerful new open-source artificial intelligence, developed the AI using information generated by OpenAI’s models, according to OpenAI employees. Firms such as OpenAI forbid such practices, known as AI model distillation, but ... Read more ›
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12.11.2025 10:34
Last update: 10:25 EDT.
News rating updated: 17:22.
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