(Reuters) – OpenAI, the startup behind the popular ChatGPT, is reportedly in discussions to raise billions of dollars in a new funding round that could see it valued at above $100 billion, the Wall Street Journal reported on Wednesday. The funding round is expected to be led by venture capital firm Thrive Capital, which is…
(Reuters) – Meta Platforms is planning a mixed reality device that resembles a bulky pair of glasses, the Information reported on Wednesday, citing two employees from the social media giant. Internally code-named “Puffin”, the new project is focused on designing an alternative to the heavy headsets offered by Facebook’s parent company, which have a limited…
BOGOTA (Reuters) – The Colombian unit of bank BBVA has issued ordinary shares worth 877 billion pesos ($218 million), the Colombian stock exchange said in a statement on Tuesday. The Colombian unit issued 3.24 billion shares at a price of 270 pesos each in an initial tranche, the statement said, adding that a further 152.7…
By Patrick Wingrove (Reuters) -Eli Lilly said it has begun selling vials of the smallest, starter dose of its popular weight-loss drug Zepbound in the United States for $399 for a month on its direct-to-consumer website to try to increase supplies in the marketplace. Zepbound is typically sold in auto-injector pens, but with vials Lilly…
By Max A. Cherney SAN FRANCISCO (Reuters) – The sudden resignation of a high-profile Intel board member came after differences with CEO Pat Gelsinger and other directors over what the director considered the U.S. company’s bloated workforce, risk-averse culture and lagging artificial intelligence strategy, according to three sources familiar with the matter. Lip-Bu Tan, a…
By Saqib Iqbal Ahmed NEW YORK (Reuters) – Traders in the U.S. equity options market are expecting Nvidia’s upcoming earnings report to spark a more than $300 billion swing in the shares of the world’s most dominant artificial intelligence chipmaker. Options pricing shows that traders anticipate a move of around 9.8% in the company’s shares…
NEW YORK (Reuters) – The Bank of New York Mellon has agreed to pay $5 million to settle U.S. Commodity Futures Trading Commission charges for repeatedly failing to correctly report millions of swap transactions, violating a previous order, the regulator said in a statement on Monday. BNY repeatedly failed to correctly report at least 5…
By Daniel Wiessner (Reuters) – U.S. labor board prosecutors have determined that a union’s claims that Chipotle Mexican Grill illegally refused to give raises to workers at a Michigan restaurant after they became the first and only employees of the fast-casual chain to unionize have merit. The National Labor Relations Board’s general counsel will issue…
By Svea Herbst-Bayliss NEW YORK (Reuters) -Elliott Investment Management, which now holds voting power over roughly 9.7% of Southwest Airlines, is telling investors the company needs new outside leadership for a “better future,” but it is also ready to press ahead with a planned proxy fight. In a letter to shareholders, the hedge fund is…
By Ann Saphir (Reuters) – San Francisco Federal Reserve President Mary Daly on Monday said “the time is upon us” to cut interest rates, likely starting with a quarter-percentage point reduction in borrowing costs. Asked if there is anything that could derail a rate cut at the U.S. central bank’s Sept. 17-18 policy meeting,…
