(Reuters) – OpenAI said on Thursday it has secured a new $4 billion credit facility, in addition to the $6.6 billion investment the AI startup unveiled on Wednesday. The revolving credit facility that is undrawn at closing has been established with JPMorgan Chase, Citi, Goldman Sachs, Morgan Stanley , Santander, Wells Fargo, SMBC, UBS and…
By David Lawder WASHINGTON (Reuters) – The International Monetary Fund said on Thursday an escalation of the conflict in the Middle East could have significant economic ramifications for the region and the global economy, but commodity prices remain below the highs of the past year. IMF spokesperson Julie Kozack told a regular news briefing that…
By Niket Nishant (Reuters) -Carlyle-backed StandardAero racked up a $10.38 billion valuation after its shares opened 29% above the offer price in their NYSE debut on Wednesday, as investors bought into what could be one of the last major U.S. listings of the year. The aircraft maintenance services provider had priced its offering above range…
By Will Dunham WASHINGTON (Reuters) – Barnard’s star is a red dwarf, the smallest type of regular star and much smaller and less luminous than our sun. At about 6 light years away, it is the closest single star – one not orbiting with other stars – to our solar system. It is, in cosmic…
By Nora Eckert and Ben Klayman DETROIT (Reuters) -General Motors will assure investors next Tuesday that there is no need to panic about decelerating demand for electric vehicles and the U.S. automaker could even improve its profits in 2025, according to two people familiar with the plans. The message at the company’s investor day is…
By Akash Sriram (Reuters) -Tesla handed over fewer vehicles than analysts expected in the third quarter as stiff competition in China and Europe hit demand for its aging models, putting the electric-vehicle maker at risk of its first-ever decline in annual deliveries. Shares of the world’s most valuable automaker fell more than 6% in morning…
WASHINGTON (Reuters) – The U.S. Commerce Department said Wednesday it plans to award $100 million to boost the use of artificial intelligence in developing new sustainable semiconductor materials. The department, which is overseeing $52.7 billion in U.S. chips manufacturing and research grants, plans to award $100 million to help universities, national laboratories and the private…
(Reuters) – OpenAI unveiled a host of new tools on Tuesday that would make it easier for developers to build models based on its artificial intelligence technology, as the ChatGPT maker wrestles with tech giants to keep up in the generative AI race. The Microsoft-backed startup said a new real-time tool, rolling out immediately for…
By Jonathan Stempel NEW YORK (Reuters) – Peloton Interactive won dismissal of a lawsuit claiming it defrauded shareholders by concealing how demand for its home exercise equipment, which surged after the COVID-19 pandemic began, was declining as vaccines became available and gyms began reopening. In a Monday night decision, U.S. District Judge Andrew Carter in…
(Reuters) -Ingram Micro made public its U.S. IPO filing on Monday, more than two years after the private-equity backed electronics distributor laid the foundation for its return to stock markets. Expectations of more monetary policy easing and pressure to return capital to investors are encouraging PE firms to list their portfolio companies. Beverly Hills, California-based…
