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BEIJING (Reuters) – Chinese ride hailing giant Didi Global on Saturday reported a 19% year-on-year fall in 2022 revenue, as the country’s COVID lockdowns and a regulatory crackdown took a toll. In its first annual report since it delisted from the U.S. last year, Didi said its total revenue fell to 140.79 billion yuan ($20.37…
(Corrects headline and story to show a $300 million share sale, not $10 bln or $10.3 billion) (Reuters) – OpenAI, the company behind the ChatGPT chatbot, has closed a more than $300 million share sale at a valuation between $27 billion and $29 billion, TechCrunch reported on Friday. (This story has been corrected to say…
WASHINGTON (Reuters) – Senator Michael Bennet introduced a bill on Thursday that would create a task force to look at U.S. policies on artificial intelligence, and identify how best to reduce threats to privacy, civil liberties and due process. The popular use of ChatGPT and other AI, which have been used for years to create…
(Reuters) – Lyft Inc said on Friday it has asked employees to return to office, the latest move by new CEO David Risher after the ride-hailing firm decided to cut 26% of its workforce. “Today, (the CEO) shared with Lyft team members the first steps in a plan for a flexible model with more regular…
By Jonathan Stempel (Reuters) – The U.S. Securities and Exchange Commission has fined Seattle-based Coinme and related defendants nearly $4 million for conducting an unregistered and misleading offering of a crypto asset called UpToken. Friday’s settlement resolves claims that Coinme’s Up Global unit and Neil Bergquist, who led both entities, misled investors in a late…
By Paul Sandle LONDON (Reuters) – Britain’s Competition and Markets Authority (CMA) on Wednesday blocked Microsoft’s $69 billion acquisition of ‘Call of Duty’ maker Activision Blizzard over concerns it would hinder cloud gaming. The ruling was a shock after the regulator had already resolved its concerns about the consoles market, a sector dominated by Sony’s…
By Noel Randewich (Reuters) -Shares of both Pinterest Inc and Snap Inc tumbled about 18% on Friday after the two social media companies’ quarterly reports spooked investors worried about weak digital ad spending. Their disappointing reports late on Thursday stood in contrast to strong results earlier this week from digital advertising heavyweights Alphabet Inc and…
By Aditya Soni (Reuters) – Growth in Amazon.com Inc’s lucrative cloud business is slowing and investors are worried. Shares fell nearly 4% on Friday as Amazon’s cloud business slowed in April after posting its weakest quarterly growth since the company began breaking out the unit’s sales in 2015. Amazon, one of the largest companies in…
WASHINGTON (Reuters) -A U.S. federal judge on Friday denied Google’s motion to dismiss a Department of Justice antitrust case focused on advertising technology, saying the government’s case was strong enough to go forward. The government, which filed the ad tech lawsuit in January, has argued that Google should be forced to sell its ad manager…
(Reuters) -Microsoft Corp said on Friday it signed a 10-year deal with Nware to bring Xbox and Activision Blizzard games to the Spanish cloud-gaming platform, days after Britain blocked its $69 billion buyout of the “Call of Duty” maker. The agreement marks the latest effort by Microsoft to ease fears its purchase of Activision would…
