The summer gatherings of the alphas are upon us. This weekend, the annual running of the bulls will commence in Pamplona, Spain. And a couple days later, the media, tech and finance moguls of the world will begin descending in their private jets on Sun Valley, Idaho, for the annual confab hosted by Allen & Co., boutique investment bank. While the chances are slim that they’ll rampage like bulls among... Read more ›
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The European Union on Friday asked Amazon to share more information about its recommendation algorithms and ads business, a request the bloc said was required for the company to comply with a law called the Digital Services Act. The EU said Amazon must detail how it’s complying with parts of the ... Read more ›
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Sometime in the next few months, a judge is expected to rule on the U.S. Department of Justice’s antitrust lawsuit against Google over its dominance of internet search. One of the biggest risks Google faces is the possibility that the judge will end the agreement making Google the default search engine on Apple’s Safari app for iPhones. For several years, Google has been trying to protect itself against that possibility... Read more ›
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SoftBank is discussing with banks how to fund investments of up to $10 billion in energy-related projects, as artificial intelligence drives an enormous increase in demand for power, The Information reported. The company is also exploring ways to secure access to a large volume of Nvidia’s ... Read more ›
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Saks Fifth Avenue parent company HBC has agreed to buy rival Neiman Marcus for $2.65 billion, with Amazon taking a minority stake in the newly combined company, the companies announced on Wednesday. The companies didn’t disclose the size of Amazon’s stake, saying only that ... Read more ›
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The next phase of SoftBank CEO Masayoshi Son’s plan to make the company a leader in artificial intelligence is coming into focus. And it is complicated—and potentially costly. SoftBank has recently talked with banks about borrowing money to fund investment of up to $10 billion in energy-related projects, where AI is driving an enormous increase in demand, according to a person with direct knowledge of the discussions. SoftBank also is... Read more ›
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Alphabet is shutting down agriculture startup Mineral, one of the companies in its portfolio of “other bets,” and will license Mineral’s technology to berry producer Driscoll’s, Bloomberg reported. Alphabet didn’t return a request for comment. Mineral developed specialized software and hardware ... Read more ›
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Andy Jassy has a July 4 gift for Federal Trade Commission chair Lina Khan. Amazon is, according to The Wall Street Journal, planning to back HBC, owner of the Saks department store chain, in the acquisition of rival upscale chain Neiman Marcus. Yes, that’s right. The online retailing goliath, blamed by many for crushing old-fashioned bricks-and-mortar retailers, is now coming to the rescue of one of them. But despite the... Read more ›
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The Information is pleased to announce Nathaniel Popper as bureau chief for our artificial intelligence and enterprise coverage. He will help our team report on an electrifying period for AI and the industries that surround it, getting inside the companies shaping it and helping readers to separate hype from reality. Popper has been at the forefront of covering technology and finance for more than a decade. He wrote “Digital Gold,”... Read more ›
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Saks Fifth Avenue parent company HBC has agreed to buy rival Neiman Marcus for $2.65 billion, with Amazon taking a minority stake in the newly combined company, the Wall Street Journal reported on Wednesday. The Journal did not report the size of Amazon’s stake in the new company, which will be ... Read more ›
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Between investors Mary Meeker and Chamath Palihapitiya’s latest reports referencing the power of creators—we are so back!This week, Meeker released the first edition of her widely-read internet report in more than four years. She focused on artificial intelligence and education, but spilled quite a bit of ink on how a young generation of internet users want to pursue careers as creators. The investor, who is dubbed “The Queen of the... Read more ›
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Amazon founder and executive chair Jeff Bezos plans to sell about $5 billion worth of his stake in the company, his second major round of share sales this year. Amazon shares have risen 32% this year and hit an all-time high on Tuesday. Bezos’ proposed sale of 25 million shares, disclosed in a ... Read more ›
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In the past two years, almost 200 venture capital firms have invested in young generative artificial intelligence companies without knowing exactly how those bets would pay off. Now it seems likely that several won’t. The technology has created winners such as OpenAI, but it’s also spawned a growing number of startups that could follow Adept AI and Inflection AI, whose founders left the companies to work for tech giants. Then... Read more ›
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Amazon founder and executive chair Jeff Bezos plans to sell about $5 billion worth of his stake in the company, his second major round of share sales this year. Amazon shares have risen 32% this year and hit an all-time high on Tuesday. Bezos’ proposed sale of 25 million shares, disclosed in a ... Read more ›
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Meta Platforms’ X-rival app, Threads, now has more than 175 million monthly active users, Meta CEO Mark Zuckerberg announced Wednesday. That’s up from 150 million users when the company reported its last earnings in April. The app, which is approaching its one-year anniversary, was launched at a ... Read more ›
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One month ago, we broke the news that Harvey, a startup that sells AI-powered legal software, was looking to raise $600 million in funding at a valuation of at least $2 billion. The firm told investors that it planned to use some of the capital to acquire vLex, a 25-year-old legal research firm majority-owned by private equity firm Oakley Capital.As things turned out, though, the acquisition fell apart and the... Read more ›
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Microsoft is second only to Nvidia in the eyes of investors looking to benefit from the generative artificial intelligence boom. But its deluxe valuation suggests the market is underestimating the challenges it could face in its AI expansion, including possible profit margin declines or losing market share in enterprise software. Those looking to bet on the AI lift enjoyed by a big tech company might be better off buying less-expensive... Read more ›
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David Ellison’s Skydance Media has agreed to acquire National Amusements, Shari Redstone’s family company and controlling stakeholder of Paramount Global, according to a person familiar with the matter. Skydance and its backers would pay $1.75 billion for National Amusements, ... Read more ›
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Happy anniversary, Andy Jassy! Well, almost. On Friday, the Amazon CEO will celebrate the third anniversary of his ascension to the top job. And this year Jassy has something to really celebrate.Amazon’s stock closed today at $200, its highest point ever. It’s also 14% higher than when Jassy took the reins, which might not sound like a lot but, hey, don’t forget Amazon stock cratered with the 2022 stock market... Read more ›
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David Ellison’s Skydance Media has agreed to acquire National Amusements, the parent company of Paramount Global and Shari Redstone’s family company, for $1.75 billion, according to The Wall Street Journal. It’s the latest swerve in a monthslong deal drama between Skydance and National ... Read more ›
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Most popular sources
Business Insider
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32% 1 |
Tech Wire Asia
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13% |
The Verge
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7% 1 |
Wired
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6% 2 |
Gizmodo
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5% 2 |
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26.11.2024 15:21
Last update: 15:16 EDT.
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