Rumble sues Google over digital advertising practices
WASHINGTON (Reuters) - Video sharing platform Rumble said on Monday it has sued Google, arguing the tech giant has engaged in anticompetitive practices across its range of digital advertising products and sought damages in excess of $1 billion. Th...
May 14, 2024
VC firm Accel raises $650 million to invest in AI, cybersecurity startups
By Supantha Mukherjee STOCKHOLM (Reuters) - Venture capital firm Accel said on Tuesday it has raised a $650 million fund to invest in early-stage companies in Europe and Israel with a focus on artificial intelligence and cybersecurity. The new fund...
May 13, 2024
Games Global Ltd withdraws US IPO plan
(Reuters) - Games Global, the UK-based maker of online casino-styled games, withdrew its plan for an initial public offering in the United States on Monday. (Reporting by Arasu Kannagi Basil in Bengaluru; Editing by Shounak Dasgupta)
May 13, 2024
Artificial intelligence hitting labour forces like a "tsunami" - IMF Chief
ZURICH (Reuters) - Artificial intelligence is hitting the global labour market "like a tsunami" International Monetary Fund Managing Director Kristalina Georgieva said on Monday. Artificial intelligence is likely to impact 60% of jobs in advanced e...
May 13, 2024
OpenAI to announce ChatGPT product improvements Monday
By Anna Tong (Reuters) - ChatGPT-maker OpenAI plans to announce on Monday updates to its flagship chatbot as its most advanced AI model GPT-4, which "feels like magic," CEO Sam Altman said on X on Friday. The company said on X that it will hold a l...
May 13, 2024
SoftBank's $184 billion portfolio key to beating AI rivals, says Vision Fund CFO
By Anton Bridge TOKYO (Reuters) - Japanese technology investor Softbank Group believes it has an advantage over smaller rivals because it can leverage its entire $183.6 billion portfolio to help it build an ecosystem of firms that can employ artifi...
May 13, 2024
Yellen to tout broadband investments in trip to rural Virginia
By Andrea Shalal WASHINGTON (Reuters) - U.S. Treasury Secretary Janet Yellen will travel to Stafford County, Virginia on Monday to tour a broadband infrastructure project funded by the $1.9 trillion COVID-era American Rescue Plan and underscore the...
May 13, 2024
Intel appoints industry veteran Kevin O'Buckley to lead foundry unit
(Reuters) -Chipmaker Intel said on Monday it has appointed industry veteran Kevin O'Buckley to lead its manufacturing unit. O'Buckley, who will succeed Stuart Pann and report to CEO Pat Gelsinger, has been appointed as senior vice president and general...
May 13, 2024
Apple defeats union campaign at New Jersey retail store
By Daniel Wiessner (Reuters) - Apple employees at a New Jersey retail store have voted against joining a union, potentially stifling momentum for a push to organize the tech giant's workforce nationwide. Workers at the store in Short Hills, New Jer...
May 13, 2024
Tim Draper leads $3.5 million fundraise for six-employee startup behind bitcoin lending
By Niket Nishant (Reuters) - Zest Protocol, a bitcoin lending startup with just six employees, has secured $3.5 million in a funding round led by billionaire investor Tim Draper. Besides venture capital firm Draper Associates, nearly a dozen inves...
May 13, 2024
GameStop jumps after 'Roaring Kitty' returns following three-year hiatus
(Reuters) - Shares of GameStop jumped 40% in premarket trading on Monday after social media persona "Roaring Kitty," whose online posts had sparked a trading frenzy in the videogame retailer in 2021, returned on X.com after three years. Keith Gill,...
May 13, 2024
Cinven to explore $3 billion sale of software maker Jaggaer, sources say
By Milana Vinn NEW YORK (Reuters) - Private equity firm Cinven is preparing to explore a sale of Jaggaer that it hopes will value the maker of supply chain software at about $3 billion, including debt, according to people familiar with the matter. ...
May 13, 2024
Intel nears deal with Apollo for $11 billion Ireland partnership, WSJ reports
(Reuters) - Intel is in advanced talks for a transaction in which Apollo Global Management would supply more than $11 billion to help build a chip plant in Ireland, the Wall Street Journal reported on Monday. (Reporting by Zaheer Kachwala in Benga...
May 13, 2024
EU says Booking must comply with strict tech rules, investigates X
PARIS (Reuters) - The European Commission on Monday said it had designated Booking as a so-called "gatekeeper" under the Digital Markets Act (DMA) while it also opened a market investigation into social media network X to further determine the plat...
May 13, 2024
Tencent Music beats quarterly revenue estimates
(Reuters) - China's Tencent Music Entertainment Group beat first-quarter revenue estimates on Monday, thanks to steady growth in paid subscriptions and advertising services on its Spotify-like music streaming platform. The audio entertainment platf...
May 13, 2024
US, China meet in Geneva to discuss AI risks
By Michael Martina and Trevor Hunnicutt WASHINGTON (Reuters) - The U.S. and China will meet in Geneva to discuss advanced artificial intelligence on Tuesday, U.S. officials said, stressing that Washington's policies would not be up for negotiation ...
May 13, 2024
South Korea signs agreement with AliExpress, Temu on product safety
SEOUL (Reuters) -South Korea's government signed an agreement on Monday with Alibaba's AliExpress and PDD Holdings' Temu to promote product safety, the Korea Fair Trade Commission (KFTC) said. The agreement comes after heightened regulatory scrutiny of...
May 13, 2024
SoftBank swings to Q4 profit of $2.1 billion
TOKYO (Reuters) - Japanese technology giant SoftBank Group swung to a quarterly profit on Monday, reporting a net profit of 328.9 billion yen ($2.11 billion) for the January-March period. The Vision Fund investment unit booked an investment loss of...
May 13, 2024
Amazon to invest $1.3 billion in France, create 3,000 jobs
By Supantha Mukherjee STOCKHOLM (Reuters) - Amazon said on Monday it would invest more than 1.2 billion euros ($1.3 billion) in its French operations and create more than 3,000 permanent jobs in the country. The French presidency had said on Sunday...
May 13, 2024
Australian court lifts order blocking X on church stabbing video
SYDNEY (Reuters) - An Australian court on Monday rejected a bid by the country's cyber safety regulator to extend a temporary order for Elon Musk-owned X to block videos of the stabbing of an Assyrian church bishop, which authorities had called a t...
May 13, 2024
Aussie software firm Iress flags data breach at third-party platform
(Reuters) - Australia's Iress Ltd over the weekend detected and contained an unauthorized access of the firm's space on a third-party platform which is used to manage its pre-production software code, the financial software firm said on Monday. Ire...
May 13, 2024
South Korea prepares support package worth over $7 billion for chip industry
SEOUL (Reuters) - South Korea is readying plans for a support package for chip investments and research worth more than 10 trillion won ($7.30 billion), the finance minister said on Sunday, after setting its sights on winning a "war" in the semicon...
May 12, 2024
Apple's New Jersey store workers vote against unionizing, Bloomberg reports
(Reuters) - Workers at Apple's store in Short Hills, New Jersey, have voted against unionizing, Bloomberg News reported on Saturday. (Reporting by Gnaneshwar Rajan in Bengaluru; Editing by William Mallard)
May 12, 2024
Arm Holdings plans to launch AI chips in 2025, Nikkei reports
(Reuters) - SoftBank Group's Arm Holdings plans to develop artificial-intelligence chips, seeking to launch the first products in 2025, Nikkei Asia reported on Sunday. UK-based Arm will set up an AI chip division and aim to build a prototype by spr...
May 11, 2024
Musk's X Corp loses lawsuit against Israeli data-scraping company
By Jonathan Stempel (Reuters) - A U.S. judge dismissed a lawsuit in which Elon Musk's X Corp accused an Israeli data-scraping company of illegally copying and selling content, and selling tools that let others copy and sell content, from the social...
May 10, 2024