Tag: Business
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Musk’s grim outlook hits neoclouds as debt concerns mount
Oct 26 : Shares of neocloud companies declined on Monday after SpaceX CEO Elon Musk said the sector could face consolidation and failures, adding to concerns over a widening gap between AI infrastructure investment and revenue generation.CoreWeave, which has become a poster child for mounting concerns over he
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Meta eyes record $95 billion equity raise to fund AI expansion
Oct 26 : Meta Platforms said on Monday it plans to raise up to $95 billion in its largest-ever equity fundraising, as the social media giant spends aggressively on its costly AI infrastructure expansion.The Facebook parent has launched public offerings worth about $35 billion in common and preferred stock, an
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EU accepts Temu plan to remedy Digital Services Act breach
BRUSSELS, Oct 26 : The European Commission said on Monday it had accepted Chinese online retail platform Temu’s action plan to remedy a breach of the EU’s Digital Services Act, following a fine imposed on the company in May.The plan focuses on five measures to remedy the breach, and Temu now has four months t
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T-Mobile debuts wireless plans with customizable perks from streaming to food delivery
Oct 26 : T-Mobile on Monday unveiled wireless plans that let customers pick and swap perks from Netflix to DoorDash, moving away from its traditional strategy of locking benefits into fixed plan tiers. The move mirrors customizable offerings from rivals such as Verizon, but T-Mobile’s new plans include selec
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Cadence unveils Nvidia-backed AI models that chipmakers can run in-house
SAN FRANCISCO, Oct 26 : Cadence Design Systems on Monday launched a portfolio of AI models tuned to help design computer chips, deepening its partnership with Nvidia and diverging from rival Synopsys’s recent deal with OpenAI.Both companies make software used to design computing chips — a process that invol
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Anthropic’s IPO filing shows explosive growth, risks and staggering costs
Oct 26 : Anthropic disclosed steep losses and red-hot revenue growth in its US IPO filing on Monday, as it laid out its ambition to build AI systems capable of reshaping the global economy despite the high costs of developing the technology.The prospectus highlights Anthropic’s rapid growth over the past year
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Anthropic’s IPO: A close look at AI frontrunner’s rapid growth, spiraling costs
Oct 26 : Anthropic unveiled its US initial public offering paperwork on Monday, setting up for a blockbuster market debut that would test investors’ willingness to fund the AI juggernaut’s bills amid growing worries over the massive debt-fueled spending. The company had submitted a confidential filing in June
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Stocks, bonds edge up ahead of ‘formidable’ week for risk
LONDON, Oct 26 : Global shares edged up on Monday as oil eased from six-month highs ahead of a week of central bank meetings and corporate earnings that will further test confidence in the AI boom.The oil price was down around 1.8 per cent to $114.6 after reports that Qatari mediators were in Tehran on…
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Meta to raise up to $95 billion in equity to fund costly AI expansion
Oct 26 : Meta Platforms said on Monday it plans to raise up to $95 billion in equity to fund its costly AI-related expansion of data centers, cloud computing power and other infrastructure.The company launched public offerings of about $35 billion in common stock and convertible preferred stock. It also said
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AI cuts some Deutsche Bank corporate loan decisions to minutes
FRANKFURT, Oct 26 : AI is helping Deutsche Bank cut decisions for some smaller corporate lending from weeks to just minutes, its new technology chief Marie-Jeanne Deverdun told Reuters.The project, which went live in the summer, also reduces the time taken to make some lending decisions for multinational corp
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