By Carolina Mandl NEW YORK (Reuters) – Hedge fund giant Bridgewater Associates added shares of Tesla to its portfolio in the fourth quarter, while it trimmed exposure to the rest of the “Magnificent Seven” group of U.S. tech and growth stocks, a regulatory filing showed. The firm founded by investor Ray Dalio ended December with […]
Musk’s xAI in talks to raise $10 billion at $75 billion valuation, Bloomberg News reports
(Reuters) -Elon Musk’s xAI is discussing to raise $10 billion that could value the artificial intelligence startup at about $75 billion, Bloomberg News reported on Friday, citing a person familiar with the matter. Existing investors, including Sequoia Capital, Andreessen Horowitz and Valor Equity Partners are in talks to participate in the transaction, the report said. […]
Dell nears deal to sell $5 billion in AI servers to xAI, Bloomberg News reports
(Reuters) -Dell Technologies is nearing a deal worth more than $5 billion to provide Elon Musk’s xAI with servers optimized for artificial intelligence work, Bloomberg News reported on Friday, citing people familiar with the matter. Shares of the company gained 4% after the report, which said Dell would sell servers containing Nvidia’s GB200 semiconductors to […]
Arm secures Meta as first customer for ambitious new chip project, FT reports
(Reuters) -Arm Holdings plans to launch its own chip this year after securing Meta Platforms as one of its first customers, in a major shift to the chip tech provider’s model of licensing its blueprints to other companies, the Financial Times reported on Thursday, sending its U.S.-listed shares up about 5%. This move would put […]
Embraer to invest some $3.5 billion in Brazil by 2030
BRASILIA (Reuters) – Brazilian planemaker Embraer plans to invest 20 billion reais ($3.47 billion) in the country by 2030, Chief Executive Francisco Gomes Neto said on Wednesday. “This amount will be used toward an increase in aircraft production and the development of new products,” he said at an event in capital Brasilia alongside Brazilian President […]
AI chip startup Positron raises $23.5 million seed round to take on Nvidia
By Anna Tong Positron, a startup chip maker that aims to compete with Nvidia, said Tuesday it raised $23.5 million to scale production of its U.S.-made artificial intelligence chips. Valor Equity Partners, known for backing Elon Musk’s companies, Atreides Management, Flume Ventures and Resilience Reserve were among the investors who participated in the round. Reno-based […]
Macron promotes France’s electric-powered AI
PARIS (Reuters) – French President Emmanuel Macron declared on Monday that France was in the race for artificial intelligence and called on attendees at the AI Action Summit in Paris to choose Europe for their business needs. Clean electric power distinguishes France in addressing AI’s vast energy consumption, he said. “I have a good friend […]
AI chip startup Groq secures $1.5 billion commitment from Saudi Arabia
(Reuters) – Semiconductor startup Groq said on Monday it has secured a $1.5 billion commitment from Saudi Arabia to expand the delivery of its advanced AI chips to the country. Groq, founded by a former Alphabet engineer, is known for producing AI inference chips that optimize speed and execute commands of pre-trained models. The startup […]
JPMorgan appoints co-heads of commercial banking Sable and Smith
By Nupur Anand NEW YORK (Reuters) -JPMorgan Chase appointed Matt Sable and Melissa Smith as co-heads of commercial banking, the largest U.S. lender said on Friday, as it continues to reorganize the unit. The move follows a broader leadership reshuffle last month in which Jennifer Piepszak was named as chief operating officer to succeed Daniel […]
AmEx closed 30 accounts potentially tied to Iran’s government
(Reuters) -U.S. credit card giant American Express identified and closed 30 consumer accounts in 2024 that it said could have had ties to the Government of Iran. The accounts were only used for personal expenses, AmEx said in a regulatory filing on Friday. It also ended its relationship with a third-party ATM network provider, which […]