By Echo Wang (Reuters) – Media platform Reddit is eyeing a valuation of up to $6.5 billion in its initial public offering, two people with the matter told Reuters on Friday, far less than what it was worth a few years ago. The company is looking to set a price range of $31-$34 per share,…
By Stephen Nellis PALO ALTO, California – (Reuters) – Nvidia Chief Executive Jensen Huang on Friday said that artificial general intelligence could – by some definitions – arrive in as little as five years. Huang, who heads the world’s leading maker of artificial intelligence chips used to create systems like OpenAI’s ChatGPT, was responding to…
By Jahnavi Nidumolu, Aditya Soni and Sheila Dang (Reuters) -Billionaire entrepreneur Elon Musk has sued ChatGPT-maker OpenAI and its CEO, Sam Altman, saying they abandoned the startup’s original mission to develop artificial intelligence for the benefit of humanity and not for profit. The lawsuit filed late on Thursday in California Superior Court in San Francisco…
By Nicole Jao NEW YORK (Reuters) -Oil prices rose 2% on Friday and posted weekly gains as traders awaited an OPEC+ decision on supply agreements for the second quarter while also weighing fresh U.S., European and Chinese economic data. Brent futures for May settled $1.64 higher, or 2%, at $83.55 a barrel. The April Brent…
(Reuters) – U.S. President Joe Biden has signed into law a short-term stopgap spending bill to avert a partial government shutdown, the White House said on Friday. The bill was approved by the Democratic-majority U.S. Senate on Thursday after the Republican-controlled House of Representatives backed it with less than 36 hours before funding would have…
By Saqib Iqbal Ahmed NEW YORK (Reuters) – The latest knock to the shares of New York Community Bancorp sent traders in the options market looking for defensive positions with renewed gusto on Friday. New York Community Bancorp shares plunged 24% on Friday after it found “material weaknesses” in internal controls related to its loan…
By Patricia Zengerle WASHINGTON (Reuters) -The U.S. Senate on Thursday soundly defeated an effort to stop the $23 billion sale of F-16 fighter jets and modernization kits to Turkey, which President Joe Biden’s administration approved after Turkey approved Sweden’s joining the NATO alliance. The Senate voted 79 to 13 against a resolution of disapproval of…
By Ann Saphir and Lindsay Dunsmuir (Reuters) -U.S. central bankers are looking through recent data showing price pressures rebounded last month, and are focusing instead on overall progress on inflation that they say will likely set the table for interest-rate cuts later this year. “I expect things are going to be bumpy,” Atlanta Federal Reserve…
By Harshita Mary Varghese and Krystal Hu (Reuters) -Robotics startup Figure said on Thursday it raised $675 million in a funding round from investors including Nvidia, Microsoft and Amazon.com founder Jeff Bezos at a valuation of $2.6 billion. Sunnyvale, California-based Figure also said it signed a collaboration with OpenAI to develop generative artificial intelligence for…
(Reuters) -C3.ai shares jumped 24% to a six-month high on Thursday after the AI software firm delivered third-quarter results ahead of Wall Street expectations and narrowed its full-year revenue forecast on strong enterprise demand. The company’s shares have gained 227% since the end of 2022, valuing it at $4.46 billion, as it draws strong interest…
