By Echo Wang (Reuters) -CoreWeave plans to reduce the size of its U.S. initial public offering and price its shares below the indicated range, a person familiar with the matter told Reuters on Thursday, dampening expectations that the listing would boost investor appetite for IPOs. The Nvidia-backed cloud services provider is now looking to sell…
By Lisa Pauline Mattackal (Reuters) – Shares of GameStop fell more than 15% on Thursday after the company’s plan to finance its bitcoin pivot raised questions about the timing of its move and its strategy to turn around its struggling retail business. The video game retailer’s shares also gave up all their gains from a…
ROME (Reuters) – Italian sports car maker Maserati, one of the worst performing brands within the Stellantis group, said on Wednesday it was boosting lucrative customisation services while working on wider turnaround plans. The brand sold just 11,300 vehicles last year, down from 26,600 in 2023, with an adjusted operating loss of 260 million euros…
By Jaspreet Singh (Reuters) – Elon Musk-owned social media platform X is poised for the company’s first year of advertising revenue growth since its acquisition by the billionaire in 2022, data from research firm Emarketer showed on Wednesday. Brands are returning to X at a time when Musk’s influence has grown in the Trump administration,…
(Reuters) – OpenAI is not expecting its cash flow to turn positive until 2029, Bloomberg News reported on Wednesday, citing a person familiar with the matter. The San Francisco-based artificial intelligence bellwether is grappling with significant costs from chips, data centers and talent needed to develop cutting-edge AI systems, according to the report. By 2029,…
WASHINGTON (Reuters) -The U.S. Space Force said on Wednesday it has cleared Boeing and Lockheed Martin’s Vulcan rocket to launch national security satellites for the United States. SpaceX was the first company to handle such missions. “Vulcan certification adds launch capacity, resiliency, and flexibility needed by our nation’s most critical space-based systems,” said Brigadier General…
(Reuters) -AT&T is in talks to acquire Lumen Technologies’ consumer fiber operations, in a deal that could value the unit at more than $5.5 billion, Bloomberg News reported on Tuesday, citing people with knowledge of the matter. Shares of Lumen were down more than 14% after the report. The terms, which are not yet finalized,…
By Marianna Parraga (Reuters) -Loading of Venezuela’s heavy crude at its main oil ports slowed this week after the U.S. imposed a tariff on trade with countries buying the South American nation’s oil and producer Chevron began reducing its tanker fleet there, according to shipping data and a document seen on Tuesday. On Monday, U.S….
BEIJING (Reuters) – Chinese artificial intelligence startup DeepSeek released a major upgrade to its V3 large language model, intensifying competition with U.S. tech leaders like OpenAI and Anthropic. The new model, DeepSeek-V3-0324, was made available through AI development platform Hugging Face, marking the company’s latest push to establish itself in the rapidly evolving AI market….
By Jonathan Stempel NEW YORK (Reuters) – Ripple Labs agreed to settle a U.S. Securities and Exchange Commission civil lawsuit over the alleged sale of unregistered securities and pay just $50 million of a previously imposed $125 million fine, the cryptocurrency company’s chief legal officer said on Tuesday. The accord would end one of the…
