Tag: billion
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CoreWeave’s slump puts spotlight on debt behind AI boom
Oct 15 : Shares and bonds of Nvidia-backed CoreWeave tumbled again on Thursday despite CEO assurances about its strong deal backlog, laying bare a growing crisis of confidence in an AI build-out increasingly financed with borrowed money.The loss-making AI cloud company, burdened with about $50 billion in debt
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India’s Tech Mahindra maintains fiscal 2027 margin target after large deals drive revenue beat
Oct 15 : India’s Tech Mahindra on Thursday maintained its fiscal 2027 operating margin target after beating expectations for second-quarter revenue, helped by a ramp-up in large deals across communications and other businesses.The IT services company said it remained on track to deliver a 15 per cent operatin
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Fintech startup Ramp hits $60 billion valuation after $1.85 billion funding round
Oct 15 : Financial technology startup Ramp said on Thursday it had raised $1.85 billion in a primary financing round led by Dragoneer Investment Group, valuing the company at $60 billion, as the company expands its artificial intelligence offerings.The funding underscores growing investor interest in financia
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India’s Wipro beats second-quarter revenue expectations, deal bookings drop
BENGALURU, Oct 15 : Wipro, India’s fourth-largest IT company, reported higher-than-expected second-quarter revenue on Thursday, helped by a revival in spending by its European clients and artificial intelligence unlocking new revenue streams.The company’s consolidated revenue rose 9.1 per cent to 247.53 billi
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Fintech firm Ramp raises $1.85 billion at $60 billion valuation
Oct 15 : Ramp said on Thursday it had raised $1.85 billion in a primary financing round that valued the financial technology company at $60 billion.The funding round was led by Dragoneer Investment Group and co-led by Thrive Capital, Founders Fund, Sands Capital and Avenir Growth.Founded in 2019, Ramp
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CoreWeave shares, bonds slide further as AI debt fears mount
(Corrects dateline to Oct 15 from Oct 14)Oct 15 : AI cloud firm CoreWeave’s shares and bonds slumped further on Thursday despite CEO assurances about its strong deal backlog, in one of the deepest crises of investor confidence yet in an AI build-out increasingly fueled by borrowing.The company’s stock
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Ericsson braces for component cost hit after third-quarter profit beat
STOCKHOLM, Oct 15 : Telecom gear maker Ericsson on Thursday reported a smaller-than-expected drop in third-quarter core profit as efficiency measures helped offset higher component costs, but warned that such costs would affect margins next year. • Operating profit before amortisation and restructuring cos
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At Anthropic pre-IPO meet: ‘Thinking’ caps, surging revenue, no human extinction
NEW YORK/SAN FRANCISCO, Oct 14 : Anthropic told prospective investors on Wednesday that revenue in the third quarter surged 45 per cent from the prior quarter, two people who attended an investor day said, a move that could assuage market concerns about the huge costs of developing AI systems.Revenue in the t
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Anthropic revenue jumps to $16.8 billion in third quarter, FT reports
Oct 14 : Anthropic told investors its third-quarter revenue jumped to $16.8 billion and that it turned a profit in the quarter, the Financial Times reported on Wednesday.
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Anthropic’s Q3 revenue surges 45% to nearly $17 billion
NEW YORK, Oct 14 : Anthropic’s third-quarter revenue rose 45 per cent to $16.8 billion from the previous quarter, according to an investor who attended a pre-IPO meeting with Anthropic leadership in San Francisco on Wednesday.Revenue in the first quarter was $4.7 billion, and $11.6 billion in the second quart
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