Tag: Business
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AI startup Reflection signs computing power deal with SpaceX
June 22 : Reflection AI said on Monday it has signed a deal with SpaceX that will grant the startup access to additional computing capacity at the Elon Musk-led company’s Colossus 2 data center.Under the agreement, the open-source AI startup will get immediate access to Nvidia GB300s, AI chips used to train a
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US House committee reaches bipartisan agreement on social media rules for youth
WASHINGTON, June 22 : The U.S. House Energy and Commerce Committee reached a bipartisan agreement on regulating youth social media use, the committee’s leaders said in a statement on Monday, a key step in the debate in Washington over how to hold technology companies accountable for the impact of their platforms on
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US tech megacaps slide as SpaceX extends slump, AI expense concerns grow
June 22 : Shares of U.S. technology megacaps tumbled on Monday as SpaceX fell for the third straight session and hyperscalers Alphabet and Amazon looked set to lose billions of dollars in market value, driven by AI spending concerns.SpaceX slid over 10 per cent after last week’s blistering post-IPO rally. The
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Vimeo owner Bending Spoons seeks $1.62 billion US IPO, sources say
NEW YORK, June 22 : Bending Spoons, an Italian technology company that acquires and revamps software businesses, is seeking to raise as much as $1.62 billion in a U.S. initial public offering, according to two people familiar with the matter, in what would be one of the largest IPOs by a European company this year
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Google DeepMind signs AI research deal with film studio A24
June 22 : Google DeepMind and independent movie studio A24 entered into a partnership to explore how AI can support filmmakers and creative professionals, the companies said on Monday.Here are some details:• The companies said the initiative will focus on helping artists develop new creative workflow
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SpaceX turns to bond market to raise capital, reports $100.8 billion cash
June 22 : Elon Musk’s SpaceX turned to the bond market for the first time, capitalizing on a post-IPO momentum that has vaulted its cash reserves past $100 billion as the rockets-to-AI group ramps up spending.Monday’s notes offering comes mere days after SpaceX’s IPO, signaling the company’s push to reshape i
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Meta to invest $900 million in India’s CRED, taps founder to lead WhatsApp
June 22 : Meta Platforms will invest $900 million in Indian fintech startup CRED, valuing it at $4.5 billion, while tapping CRED’s founder Kunal Shah to head WhatsApp globally, the companies said on Monday.India is WhatsApp’s largest market, with more than 500 million users, and the platform is expanding beyo
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Czech government plans to ban mobile phones in schools from 2027
PRAGUE, June 22 : The Czech government has submitted a bill to ban the use of mobile telephones in schools starting from September 2027, Prime Minister Andrej Babis said on Monday, joining a growing global push to limit screen time for children in the classroom.The ban would apply to phones’ use in classrooms
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Uber board sued over alleged ‘serial’ compliance failures, sexual abuse lawsuits
June 22 : Uber Technologies’ board was sued on Monday by shareholders who accused management and directors of letting the ride-sharing company cut corners on compliance, leading to thousands of lawsuits from victims of sexual assault and harassment.In a complaint filed in San Francisco federal court, sharehol
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Dan Niles says he’s backing away from hyperscalers, trimming chip stocks
‘I kind of see a speed bump coming,’ the investor said.
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