TSMC says no damage to its Arizona facilities after incident
TAIPEI (Reuters) - Taiwanese chipmaker TSMC said on Thursday there was no damage to its facilities after an incident at its Arizona factory construction site where a waste disposal truck driver was transported to hospital. Firefighters responded to...
May 16, 2024
China's Nio aims to launch one new car model per year under Onvo brand
SHANGHAI (Reuters) - Chinese electric vehicle maker Nio said on Thursday it will launch one new car model per year under the Onvo brand and will have a second model targeting larger families coming up next. Nio executives were speaking a day after ...
May 16, 2024
Stability AI discusses sale amid cash crunch, The Information reports
(Reuters) - British artificial intelligence startup Stability AI held discussions with at least one potential buyer in recent weeks about a sale as it faces a cash crunch, The Information reported on Wednesday, citing a person involved in the talks...
May 16, 2024
Grab raises full-year 2024 profit forecast
(Reuters) - Grab Holdings raised its full-year profit forecast on Wednesday, underscoring gains from recent cost reduction measures and growth in its ride-share and food delivery businesses. A significant restructuring at Grab, which included reduc...
May 16, 2024
Hudson Bay, Morgan Stanley took positions in Trump social media firm in Q1
By David Randall NEW YORK (Reuters) - Hudson Bay Capital Management, Geode Capital Management and Morgan Stanley were among the large institutional investors that took positions in Donald Trump's Trump Media & Technology Group in the first quarter,...
May 15, 2024
Disney to dramatically cut spending for traditional TV networks
By Lisa Richwine (Reuters) - Walt Disney will cut its investment in programming for traditional television networks pretty dramatically as the company navigates the consumer shift to streaming, Chief Executive Bob Iger said on Wednesday. Iger said ...
May 15, 2024
AT&T, AST SpaceMobile tie up to provide space-based broadband network
(Reuters) - Telecom giant AT&T has entered an agreement with AST SpaceMobile to provide a space-based broadband network direct to cell phones, the companies said on Wednesday. Shares of AST SpaceMobile shot up nearly 49% in extended trading. (Repo...
May 15, 2024
Netflix hits 40 million users for ad-supported plan
(Reuters) - Netflix said on Wednesday its ad-supported tier has reached 40 million global monthly active users, from 5 million a year earlier, a sign that its push to attract new users with the cheaper plan is paying off. The jump comes at a time w...
May 15, 2024
US charges two brothers with novel $25 million cryptocurrency heist
By Nate Raymond BOSTON (Reuters) - Two brothers who studied at the Massachusetts Institute of Technology were arrested on Wednesday on U.S. charges that they carried out a cutting-edge scheme to exploit the Ethereum blockchain's integrity and steal...
May 15, 2024
Renaissance Technologies bought GameStop, AMC shares, filing says
NEW YORK (Reuters) - Hedge fund Renaissance Technologies added a new long position in GameStop and significantly increased its position in AMC Entertainment during the first quarter, putting it in position to benefit from the meme stock mania sweep...
May 15, 2024
Airbus unveils half-plane, half-copter in quest for speed
MARIGNANE, France (Reuters) - Airbus Helicopters showcased an experimental half-plane, half-helicopter on Wednesday in a quest for speed as competition heats up to define the rotorcraft of the future. The Racer is a one-off demonstrator model that ...
May 15, 2024
House Republicans propose to boost tariffs on Chinese-made drones
WASHINGTON (Reuters) - A group of House Republicans on Wednesday proposed legislation that would hike U.S. tariffs on Chinese-made drones by 30% and bar Chinese drone imports with some components by 2030. The legislation led by Representative Elise...
May 15, 2024
Video game maker Ubisoft swings to full-year operating profit on record bookings
By Gaelle Sheehan (Reuters) - French video games group Ubisoft swung to an operating profit for its full-year to end-March, it said on Wednesday, as record bookings helped it reverse a year earlier loss of 500 million euros, its biggest ever. Ubiso...
May 15, 2024
Uber unveils US shuttle service, expands Costco tie-up to woo price-conscious users
By Yuvraj Malik and Arsheeya Bajwa (Reuters) - Uber Technologies is introducing a shuttle service in the U.S. and widening a delivery tie-up with membership-only retailer Costco as part of a series of initiatives unveiled on Wednesday to attract p...
May 15, 2024
Data platform firm WekaIO notches $1.6 billion valuation after lastest funding round
(Reuters) - Data platform company WekaIO notched a valuation of $1.6 billion in a round led by Valor Equity Partners as a funding winter, especially for tech startups focused on artificial intelligence, is easing. The company said on Wednesday that...
May 15, 2024
US, China hold AI risk, safety talks, White House says
WASHINGTON (Reuters) - The United States and China on Tuesday held talks on artificial intelligence, the White House said in a statement. U.S. and Chinese officials held a 'candid and constructive discussion' on AI risk management in meetings in Sw...
May 15, 2024
AI could bring 50 billion euro benefit to Italian companies, Accenture study shows
ROME (Reuters) - Italian companies could increase the added value they create by about 50 billion euros ($54.30 billion) by 2030 with the generalised use of generative Artificial Intelligence (AI), according to a study by Accenture published on Wed...
May 15, 2024
Veon teams up with partners to bridge online 'AI language gap'
(Reuters) - Telecom company Veon, mobile operator Beeline Kazakhstan, the Barcelona Supercomputing Center and the GSMA lobby group said on Wednesday they would work together to bridge an "AI language gap" for under-represented languages. Large lang...
May 15, 2024
Cerebras Systems, Aleph Alpha to supply AI to German military
By Max A. Cherney (Reuters) - Silicon Valley firm Cerebras Systems on Wednesday said it will supply a supercomputing system to Aleph Alpha, a German technology startup that will use it to develop artificial intelligence for the German Armed Forces....
May 15, 2024
Wallet recovery firms buzz as locked-out crypto investors panic in bitcoin boom
By Ankika Biswas and Johann M Cherian (Reuters) - The recent surge in bitcoin prices has the phones at crypto wallet recovery firms ringing off the hook, as retail investors locked out of their digital vaults make frantic calls to regain access to...
May 15, 2024
SK Innovation considering sale of battery materials unit SKIET, paper reports
SEOUL (Reuters) - South Korea's SK Innovation is considering selling its subsidiary SK IE Technology (SKIET) to restructure its battery business, the Maeil Business newspaper reported on Wednesday. The move is aimed at easing financial difficulty f...
May 15, 2024
Frank McCourt's Project Liberty forms consortium to bid for TikTok's US operations
(Reuters) - Entrepreneur and former Los Angeles Dodgers owner Frank McCourt said on Wednesday his non profit Project Liberty is forming a consortium to buy social media platform TikTok in the United States. A law signed by President Joe Biden on Ap...
May 15, 2024
UK refers AlphaTheta-Serato DJ tech deal to deeper probe
(Reuters) - Britain's competition regulator referred Japan-based DJ equipment maker AlphaTheta's proposed deal to acquire New Zealand's Serato to a lengthier probe on Wednesday. The move to launch a phase 2 investigation comes two weeks after the C...
May 15, 2024
US House committee to vote on bill to restrict BGI, WuXi AppTec
By Karen Freifeld (Reuters) - U.S. legislation that would restrict business with China's BGI, WuXi AppTec and certain other biotech companies on national security grounds will be voted on by a committee in the House of Representatives on Wednesday....
May 15, 2024
Exclusive-Musk's Neuralink has faced issues with its tiny wires for years, sources say
By Rachael Levy (Reuters) - Neuralink's disclosure last week that tiny wires inside the brain of its first patient had pulled out of position is an issue the Elon Musk company has known about for years, according to five people familiar with the ma...
May 15, 2024