Tag: Business
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Meta faces Tennessee trial over allegations Instagram was designed to be addictive
July 20 : Meta Platforms faces trial in Tennessee on Monday over the state’s claims that Instagram’s design is to blame for a youth mental-health crisis, one of several trials in the coming weeks testing allegations that the company’s social media platforms were intentionally built to be addictive.Tennessee a
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Hut 8 signs $9.8 billion AI data center lease, fully commercializes Texas campus
July 20 : Hut 8, a crypto-mining turned AI data center company, said on Monday it has signed a second 15-year lease worth $9.8 billion with an existing investment-grade customer, fully commercializing its 1-gigawatt Beacon Point campus in Texas.Shares of the company, which have nearly doubled this year, rose
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Bristol Myers buys Nvidia’s latest AI computing system for drug research
NEW YORK, July 20 : Bristol Myers Squibb said on Monday it is buying the latest-generation computing system from chip company Nvidia to support its use of artificial intelligence across its drug discovery and development operations.The drugmaker said it will be the first life sciences company to buy an Nvidia
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UK government, Bezos back CuspAI’s $450 million round as startup seeks to discover new materials
July 20 : Britain’s CuspAI said on Monday it has raised $450 million from investors including the UK government and Amazon founder Jeff Bezos’ investment fund, as the startup looks to discover brand-new materials that could advance important industries, including chips. CuspAI also launched AI Materials Foun
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Bonds unsettled as oil and gas climb, earnings loom for AI
SYDNEY/LONDON, July 20 : The escalating conflict in the Gulf lifted oil and gas prices on Monday, fanning fears of inflation, sending bonds lower and leaving stocks on edge as a packed week of major tech earnings is set to further test the artificial intelligence trade.Brent crude climbed above $90 a barrel f
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Oil reverses as Iranian comments interpreted as chance for fresh negotiations
July 20 : Oil prices reversed early gains on Monday after Iran’s foreign ministry said negotiations with the U.S. could be pursued based on national interests.Benchmark prices had earlier touched more than one-month highs on concern over disruption to shipments through the Strait of Hormuz.Brent crude
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How PayPal went from Wall Street favorite to unwilling merger target
July 20 : Five years ago PayPal was a Wall Street favorite and a leader in digital payments. Since then the stock has plunged, Apple Pay dominates payment services in the U.S. and PayPal is facing a takeover bid it does not like. What happens next?The company synonymous with digital payments this past week go
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China’s Moonshot pauses Kimi subscriptions amid hot demand, IPO push
SHANGHAI: Chinese startup Moonshot AI has temporarily paused new subscriptions after demand for its newly launched Kimi K3 model strained capacity, a bottleneck that comes as the company seeks fresh funding and prepares for a p
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HKEX reviews trading hours to boost market access
July 20 : Hong Kong Exchanges and Clearing (HKEX) is reviewing opportunities to enhance market accessibility, including the trading hours of its markets, a spokesperson said on Monday.”HKEX is committed to continuously enhancing Hong Kong’s competitiveness as an international financial centre,” the spokespers
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Oil prices extend gains on escalating Middle East hostilities
July 20 : Oil prices rose on Monday to their highest in more than a month, with Brent crude climbing above $90 a barrel as escalating hostilities between the U.S. and Iran restricted oil shipments through the Strait of Hormuz.Brent crude futures were up $1.03, or 1.17 per cent, at $89.13 a barrel by 0751…
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