Tag: Business
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SpaceX set to extend rally after record Wall Street debut
June 15 : Shares of SpaceX rose more than 6 per cent in early trading on Monday, adding to gains after a blockbuster debut last week that pushed the company’s valuation past $2 trillion and cemented its position among the world’s most valuable companies.CEO Elon Musk said on Sunday that SpaceX could bring in
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Anthropic to meet with US officials over export curbs
WASHINGTON, June 15 : Senior Anthropic technical staff are scheduled to meet with officials at the Department of Commerce in Washington on Monday, a Trump administration official said, after the U.S. government ordered the AI firm late last week to suspend access to its top-tier models for foreign nationals, citing
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US judge dismisses Musk’s xAI trade secret lawsuit against OpenAI
June 15 : A federal judge on Monday dismissed a lawsuit by Elon Musk’s artificial intelligence company xAI that accused rival Sam Altman’s OpenAI of stealing trade secrets for chatbots.U.S. District Judge Rita Lin in San Francisco said xAI failed to show that OpenAI induced former xAI senior engineer Xuechen
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Oil falls 5% to three-month low as US, Iran reach peace deal to reopen Strait of Hormuz
HOUSTON, June 15 : Oil prices slumped 5 per cent to a three-month low on Monday amid a broad selloff after the U.S. and Iran said they agreed terms to end their war and reopen the Strait of Hormuz. Brent crude futures fell $4.38, or 5.02 per cent, to $82.95 a barrel by 10:54 a.m.…
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SpaceX IPO haul rises to $85.7 billion after underwriters exercise greenshoe
June 15 : SpaceX said on Monday that its underwriters had exercised the “greenshoe” option to purchase additional shares, increasing the total proceeds from its initial public offering to $85.7 billion from $75 billion that it raised last week.Elon Musk’s rocket, AI and internet conglomerate, which sold 555.5
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Microsoft sued by shareholders over expenses, cloud business, AI
June 15 : Microsoft has been sued by shareholders who accused the company of defrauding them and inflating its stock price by failing to disclose slowing growth in its Azure cloud business and the need to spend billions of dollars on AI infrastructure.The proposed class action led by a Michigan pension fund w
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OpenAI wins dismissal of trade secret lawsuit by Musk’s xAI
June 15 : A federal judge on Monday dismissed a lawsuit by Elon Musk’s artificial intelligence company xAI that accused rival Sam Altman’s OpenAI of stealing its trade secrets.U.S. District Judge Rita Lin in San Francisco said xAI failed to show that OpenAI induced former xAI engineer Xuechen Li to misappropr
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Stocks making the biggest moves midday: SpaceX, Roku, Tripadvisor, Ferrari & more
These are the stocks posting the largest moves in midday trading.
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US energy shares slump as Iran deal lowers Hormuz supply disruption risk
June 15 : U.S. energy shares fell on Monday as crude prices dropped after Washington and Tehran agreed terms to end their months-long conflict and reopen the Strait of Hormuz, a vital oil transit chokepoint.The U.S. and Iran will sign a memorandum of understanding in Switzerland on Friday, said the prime m
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Anthropic and US officials meeting Monday to resolve dispute over export curbs, administration official says
WASHINGTON, June 15 : Senior Anthropic technical staff are scheduled to meet with government officials at the U.S. Department of Commerce in Washington on Monday, an official in the Trump administration said, after the U.S. government ordered the AI firm late last week to suspend access to its top-tier models for fo
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