(Reuters) – Boeing said on Thursday it hired former Northrop Grumman executive Colin Miller to head its Phantom Works research arm within the company’s defense business unit. Miller’s hiring as general manager of Phantom Works at Boeing Defense, Space and Security (BDS) had been in the works before the arrival of new Boeing CEO Kelly […]
Amazon’s push into telehealth knocks shares of Hims & Hers
(Reuters) – Shares of Hims & Hers Health slumped 15% on Thursday after Amazon.com launched a rival service that offers upfront pricing for telehealth visits. Amazon said it is introducing low, upfront pricing for a clinical visit, treatment plan, and free medication delivery for Prime members for a range of common health, beauty and lifestyle […]
China’s Pony AI seeks up to $4.5 billion valuation in long-sought New York listing
(Reuters) -Pony AI is seeking a valuation of up to $4.48 billion in its U.S. initial public offering, it said on Thursday, as the Chinese autonomous driving firm moves ahead with its long-sought plan for a New York listing. Pony, backed by Japanese automaker Toyota, aims to raise up to $195 million by offering 15 […]
EU regulators quiz Novo Nordisk, Catalent rivals on $16.5 billion deal
By Foo Yun Chee and Maggie Fick BRUSSELS/LONDON (Reuters) – EU antitrust regulators have asked pharma rivals and customers for feedback in four business areas in light of Novo Holdings’ planned $16.5 billion takeover of Catalent, people familiar with the matter said. Novo Holdings is the controlling shareholder of Danish drugmaker Novo Nordisk, whose profits […]
AMD to cut 4% of global workforce as it focuses on AI chip development
(Reuters) – Advanced Micro Devices is laying off 4% of its global workforce, or about 1,000 employees, as it directs efforts towards developing AI chips in a bid to compete against industry bellwether Nvidia. AMD is regarded as the closest rival to Nvidia in the lucrative market for chips that form the brains of complex […]
Meta to introduce ads on Threads in early 2025, the Information reports
(Reuters) -Meta Platforms plans to introduce advertisements to its social media app Threads early next year, the Information reported on Wednesday, citing three people with direct knowledge of the plans. Threads app was launched in July last year as a challenger to X, formerly Twitter, in a bid to win users from the de facto […]
Amazon offers free computing power to AI researchers, aiming to challenge Nvidia
By Stephen Nellis (Reuters) – Amazon.com’s cloud computing unit on Tuesday said it will offer free computing power to researchers who want to use its custom artificial intelligence chips, aiming to challenge Nvidia’s popularity among those researchers. Amazon Web Services (AWS) said it will offer credits to use its cloud data centers that it values […]
ValueAct takes $1-billion stake in Meta, source says
By Svea Herbst-Bayliss (Reuters) -ValueAct Capital has built a $1-billion stake in Meta Platforms but is not currently pushing for big changes at the Facebook and Instagram parent, a source familiar with the matter told Reuters on Tuesday. The stake, which ValueAct has been building in recent weeks, now ranks among the firm’s two largest […]
Elliott calls for Honeywell break up, takes $5 billion-plus stake
By Svea Herbst-Bayliss (Reuters) -Activist investor Elliott Investment Management said Honeywell should split into two separate businesses on Tuesday, following in the footsteps of other industrial conglomerates that have broken up in recent years. Elliott said in a letter that it had built a stake worth more than $5 billion in Honeywell, one of its […]
Exclusive-Amazon developing driver eyeglasses to shave seconds off deliveries, sources say
By Greg Bensinger (Reuters) – Amazon is developing smart eyeglasses for its delivery drivers to guide them to, around and within buildings, as it tries to smooth the final stretch of an order’s journey to a customer’s home, five people familiar with the matter said. If successful, the glasses would provide drivers with turn-by-turn navigation […]