Tag: fast
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Fintech firm Ramp raises $1.85 billion at $60 billion valuation
Oct 15 : Ramp said on Thursday it had raised $1.85 billion in a primary financing round that valued the financial technology company at $60 billion.The funding round was led by Dragoneer Investment Group and co-led by Thrive Capital, Founders Fund, Sands Capital and Avenir Growth.Founded in 2019, Ramp
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CoreWeave shares, bonds slide further as AI debt fears mount
(Corrects dateline to Oct 15 from Oct 14)Oct 15 : AI cloud firm CoreWeave’s shares and bonds slumped further on Thursday despite CEO assurances about its strong deal backlog, in one of the deepest crises of investor confidence yet in an AI build-out increasingly fueled by borrowing.The company’s stock
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Venture Global inks deals with GE Vernova, Baker Hughes for power expansion
Oct 15 : Venture Global said on Thursday it had signed deals with GE Vernova and Baker Hughes to support up to 16 new power generation units, advancing plans to develop off-grid power capacity that could support AI data centers and its LNG operations.The rapid growth of data centers has fueled interest in beh
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Explainer-Why are credit default swaps unnerving AI investors?
LONDON, Oct 15 : The cost of insuring against the risk of potential US tech defaults has hit record levels in the latest sign of credit stress building in the so-called AI trade, especially for data centres dependent on future revenue.Although shares in companies driving the AI boom are still among the bigges
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India’s Tech Mahindra second-quarter revenue beats estimate
Oct 15 : India’s Tech Mahindra on Thursday beat second-quarter revenue expectations, as steady growth in its manufacturing communication verticals and a weak rupee helped.Consolidated revenue rose 15.6 per cent to 161.80 billion rupees ($1.70 billion) year-on-year. Analysts, on average, expected revenue to co
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Dollar eases from 18-month high as Treasury yields fall; Fed hike bets ease
LONDON, Oct 15 : The dollar slipped from an 18-month peak on Thursday as a sharp drop in Treasury yields weighed on the greenback, while cautious remarks from Federal Reserve officials tempered October hike expectations despite hot inflation data. The dollar index, which measures the US currency against a ba
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Banks need ‘bare metal’ recovery in face of AI risks, says BoE’s Breeden
BANGKOK/LONDON, Oct 15 : Bank of England Deputy Governor Sarah Breeden said on Thursday the central bank was working with banks on deep cyber-recovery options, arguing that lenders can no longer assume their defences are impenetrable in the face of AI-enabled cyber attacks.Breeden also warned that AI advance
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AstraZeneca strikes $40 million AI drug discovery deal with insitro
LONDON, Oct 15 : AstraZeneca has teamed up with artificial intelligence biotech company insitro to discover and develop new treatments for difficult to treat liver and heart conditions, the British drugmaker said on Thursday.Under the agreement, AstraZeneca will pay $40 million up front, with California-based
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Midtjylland game at Egnatia moved due to civil unrest in Tirana
Oct 15 : FC Midtjylland’s UEFA Conference League opener at Albanian side KF Egnatia on Thursday has been moved from the Arena Kombetare in Tirana to the Elbasan Arena, the Danish club said. UEFA changed the venue following discussions with local authorities in response to demonstrations in the capital.
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India’s Wipro beats second-quarter revenue expectations
BENGALURU, Oct 15 : Wipro, India’s fourth-largest IT company, reported higher-than-expected second-quarter revenue on Thursday, helped by a revival in spending by its European clients and artificial intelligence unlocking new revenue streams.The company’s consolidated revenue rose 9.1 per cent to 247.53 billi
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