Uber has sought input from advisers on a potential acquisition of travel booking site Expedia, according to a report from the Financial Times on Wednesday that cited unnamed sources. Expedia’s shares surged roughly 7% immediately following the report, and Uber’s dropped by almost 3%. Uber has ... Read more ›
1
Last year, TikTok helped woo sellers to TikTok Shop by footing the bill for incredible discounts on its new e-commerce service. These encouraged merchants to sell items at rock-bottom prices, which led to a deluge of sales. But this year, TikTok is taking a different tack to grow its e-commerce sales by encouraging more brands to go live—a lot.That’s one of the takeaways from a story Ann Gehan and I... Read more ›
24
Data center startup Crusoe Energy announced yesterday that it had finalized a $3.4 billion deal to finance construction of a data center in Texas. Now, The Information reports, the firm is raising an equity financing alongside the deal: Founders Fund, an existing Crusoe and OpenAI ... Read more ›
0
The artificial intelligence race is lifting previously unknown data center startups that say they can move faster than bigger developers. The latest is Crusoe Energy, which on Tuesday announced a deal to borrow $3.4 billion to develop a data center that could eventually become one of the largest in the world. Oracle, a cloud provider, will lease the site and rent servers with Nvidia's artificial intelligence chips to OpenAI, The... Read more ›
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As TikTok’s U.S. shopping service enters its second year of operation, the ByteDance-owned company has become stingier about wooing online merchants with cash. TikTok has cut back on subsidizing deep discounts for retailers, a tactic it used last year when TikTok Shop launched, and has tripled its cut of sales to 6%. But TikTok has started to use other strategies to keep merchants interested in TikTok Shop. It’s putting more... Read more ›
8
Morgan Stanley joined its rivals reporting resurgent investment banking activity on Wednesday, adding to signs Wall Street is enjoying a healthier environment for dealmaking and trading. Morgan Stanley’s third-quarter profit rose 32% to $3.2 billion in what chief executive Ted Pick described as ... Read more ›
0
Amazon announced three nuclear energy projects on Wednesday, including two deals with utilities and an investment in a nuclear developer, marking the latest example of a big tech company backing clean energy projects to power data centers. Amazon has signed agreements with utilities in Virginia ... Read more ›
19
Nvidia and OpenAI may get the headlines, but their microprocessors and artificial intelligence wouldn’t be possible without the good people of Taiwan—specifically, more than 70,000 employees and leaders of Taiwan Semiconductor Manufacturing Co.A few years ago, my colleague Wayne took readers into the deep relationship between TSMC and Apple, which is still its top customer, and he later reported in detail how TSMC is even more secretive than Apple, which... Read more ›
15
The most successful and lucrative partnership in the artificial intelligence business is showing signs of strain. In March, Jensen Huang, CEO of chip giant Nvidia, trumpeted the arrival of a family of new chips, known as Blackwell, designed to run the latest, most powerful AI software. Microsoft’s Satya Nadella, Tesla’s Elon Musk and nearly every other major leader in the tech industry offered gushing quotes about Blackwell in Nvidia’s announcement... Read more ›
0
Big tech companies don’t report September-quarter earnings until the end of this month. But you don’t have to wait until then to get an update on the artificial intelligence data center gold rush that’s now underway. Instead, just tune in to Blackstone’s earnings call on Thursday.The giant investment firm has emerged as one of the big global financiers of data centers—a key piece of the bricks and mortar needed to... Read more ›
0
Donald Trump says he won’t break up Google if he wins next month’s presidential election, The New York Times reported, adding that “China is afraid of Google.” He added that he instead would seek to make sure Google’s behavior is “more fair.” The breakup idea is on the table because ... Read more ›
0
An attorney for the man charged with murdering Cash App founder Bob Lee in San Francisco a year ago sought to reframe the dramatic incident as a matter of self defense as the trial commenced this week. The defendant, Nima Momeni, allegedly stabbed Lee three times in a deserted part of downtown ... Read more ›
0
The artificial intelligence boom has provided a nice distraction from the reality of the venture capital industry, where cracks beneath the surface continue to grow. The latest edition of PitchBook’s quarterly report on the venture business paints a concerning portrait and offers a bleak projection: “the dam created by the headwinds of high interest rates and inflation will eventually crack.”Here are five data points from the new report that jumped... Read more ›
0
Amazon is bringing in a new leader to Twitch to boost its advertising business, deepening the ties between the livestreaming service and its powerful parent. In a reorganization of Twitch’s ad business, Amazon is forming a new ad sales and product group for Twitch under the leadership of executive Viral Thacker. Thacker’s team will work “across all ad products, countries and customer segments,” according to a recent memo I viewed.... Read more ›
0
Lori Goler, Meta Platforms’ longtime head of people, will depart the company next summer, she said Tuesday in a post on Facebook. Janelle Gale, Meta’s head of human resources, will take over Goler’s role in January, Goler said. “My work building and leading the [people] team and helping to shape ... Read more ›
0
Paxos, a stablecoin issuer and blockchain infrastructure provider, said it has launched a stablecoin service for payments providers, with Stripe being its first customer. Last week, Stripe launched a feature that allows merchants to accept stablecoins for payments, powered by Paxos’ ... Read more ›
0
Goldman Sachs and Bank of America on Tuesday joined other Wall Street banks in reporting jumps in investment banking and trading revenue for the third quarter. Goldman’s equities trading revenue rose 18% to $3.5 billion while investment banking fees rose 20% to $1.9 billion. At Bank of America, ... Read more ›
0
Harry Stebbings, host of The Twenty Minute VC podcast, has raised $400 million across two new funds from limited partners including MIT Investment Management Company and Horsley Bridge. The larger haul will allow Stebbings, who raised $140 million in 2021, to lead more deals, he told ... Read more ›
0
The New York Times Company sent AI startup Perplexity a “cease and desist” notice demanding that the firm stop using its content, the Wall Street Journal reported. The letter follows a lawsuit filed by the Times against OpenAI at the end of last year, alleging copyright infringement in how the ... Read more ›
0
Score one for OpenAI? Before we get to today’s column, we should flag Aaron’s scoop yesterday about OpenAI hiring one of Microsoft’s most prominent artificial intelligence researchers. It must be a welcome relief for OpenAI to be on the receiving end of such a move for a change.Onto today’s issue…Between headlines about OpenAI’s multibillion-dollar financing and executive drama, you might have forgotten it’s also reworking its convoluted structure so that... Read more ›
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Most popular sources
Business Insider
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31% 14 |
Mashable
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12% 10 |
Gizmodo
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8% 3 |
Eurogamer.net
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7% 6 |
CNET
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6% 3 |
| View sources » | |
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24.11.2024 15:22
Last update: 15:05 EDT.
News rating updated: 22:10.
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