Tag: Business
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Amazon beats cloud sales growth estimates; shares jump
July 30 : Amazon.com beat market expectations for quarterly cloud sales growth on Thursday, calming prior fears among investors over hefty planned outlays for artificial intelligence development.Shares in the Seattle-based online retailer jumped more than 9 per cent after the market’s close, following a 3.9 p
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Reddit expects revenue above estimates as AI tools attract advertisers
July 30 : Reddit forecast third-quarter revenue above Wall Street estimates on Thursday, signaling its strategy to draw marketers by offering AI-powered advertising tools is paying off.Shares of the company fell 6 per cent in volatile extended trading after the company reported slowing growth in both second-q
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Roblox forecasts quarterly bookings below estimates
July 30 : Gaming platform Roblox forecast quarterly bookings below Wall Street estimates on Thursday, as tougher age-verification measures weighed on user onboarding and engagement.Shares of the company fell 11 per cent in after-hours trading.The company has implemented age verification to bolster play
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Crypto exchange Coinbase reports third straight quarterly loss on trading slowdown
July 30 : Cryptocurrency exchange Coinbase Global on Thursday recorded a third consecutive quarter of losses, hurt by lower transaction revenue as a prolonged downturn in crypto markets curbed trading activity.Shares of the crypto exchange were down 4.9 per cent in trading after the bell. Cryptocurrenc
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Amazon’s AWS posts fastest growth since 2021, citing AI and chip demand
Amazon Web Services announced new business with Meta and OpenAI in the quarter.
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Rivian reduces 2026 spending plans, narrows earnings guidance
Rivian reduced its 2026 spending plans and slightly narrowed its previously forecasted losses this year as the company reported second-quarter results.
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Small businesses squeezed by Trump’s tariffs turn to risky cash advances
Trump’s tariffs are squeezing some small businesses, and a Fed survey shows more firms applying for merchant cash advances despite steep costs.
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Citadel buys most of Situational’s stock holdings after AI share rout, sources say
NEW YORK, July 30 : Situational Awareness, an AI-focused hedge fund run by former OpenAI researcher Leopold Aschenbrenner, sold the bulk of its stock portfolio to Ken Griffin’s Citadel after being battered by heavy losses in its tech holdings, two sources familiar with the matter told Reuters on Thursday.
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Banks in talks to lend $15 billion for Anthropic data center backed by Google, WSJ reports
July 30 : Data-center developer Nexus Data Centers is in advanced talks to raise $15 billion for a Texas campus tied to Anthropic, with Alphabet’s Google offering financial guarantees and supplying chips, the Wall Street Journal reported on Thursday, citing people familiar with the matter.Big Tech has been po
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US signs letters of intent worth $874 million to boost semiconductor research
July 30 : The U.S. Department of Commerce said on Tuesday it has signed letters of intent to provide $874 million in incentives to seven companies developing semiconductor technologies for AI and advanced computing systems.The funding, to be issued under the CHIPS and Science Act, is part of a broader U.S. ef
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