By Noel Randewich and Sinéad Carew (Reuters) -Stocks related to artificial intelligence surged in extended trade on Wednesday, adding almost $300 billion in market capitalization after chipmaker Nvidia Corp forecast strong revenue growth and said it was boosting production of its AI chips to meet surging demand. Nvidia’s stock zoomed as much as 28% after…
By Chavi Mehta and Stephen Nellis (Reuters) -Nvidia Corp on Wednesday forecast second-quarter revenue more than 50% above Wall Street estimates, and said it is boosting supply to meet surging demand for its artificial-intelligence chips, which are used to power ChatGPT and many similar services. Shares of Nvidia, the world’s most valuable listed semiconductor company,…
(Reuters) – Verizon Communications Inc held a meeting with customer service employees to notify them of upcoming “restructuring” and “streamlining” measures that are all but certain to result in significant layoffs, the Verge reported on Wednesday. More than 6,000 employees were present on Wednesday’s call, the report said, adding that the consolidation measures could end…
By Katie Paul NEW YORK (Reuters) -Meta Platforms Inc, owner of Facebook, slashed jobs across its business and operations units on Wednesday as it carried out its last batch of a three-part round of layoffs, part of a plan announced in March to eliminate 10,000 roles. Dozens of employees working in teams such as marketing,…
LONDON (Reuters) -Microsoft filed an appeal on Wednesday of Britain’s decision to block its $69 billion takeover of “Call of Duty” maker Activision Blizzard, a company spokesperson said. The Competition and Markets Authority (CMA), Britain’s antitrust regulator, vetoed the deal in April, saying it could hurt competition in the nascent cloud gaming market. Microsoft lodged…
By Foo Yun Chee BRUSSELS (Reuters) – Alphabet and the European Commission aim to develop an artificial intelligence (AI) pact involving European and non-European companies before rules are established to govern the technology, EU industry chief Thierry Breton said on Wednesday. Breton earlier met Sundar Pichai, CEO of Google and its parent company Alphabet, in…
LONDON (Reuters) – OpenAI CEO Sam Altman said on Wednesday the ChatGPT maker might consider leaving Europe if it could not comply with the upcoming artificial intelligence (AI) regulations by the European Union. The EU is working on what could be the first set of rules globally to govern AI. As part of the draft,…
(Reuters) – U.S. companies borrowed nearly 8% less in April than last year to finance equipment investments, industry body Equipment Leasing and Finance Association (ELFA) said on Wednesday. The companies signed up for new loans, leases and lines of credit worth $9.7 billion last month, compared with $10.5 billion a year earlier. “It is not…
By Arriana McLymore NEW YORK, NY (Reuters) – Amazon.com Inc investors voted against all 18 shareholder-led proposals during the e-commerce giant’s annual meeting on Wednesday, a preliminary tally by the company showed. The total exceeded Amazon’s 2022 record of 15 as environmental, social and governance (ESG)-focused investors pushed for changes ranging from warehouse workers rights,…
By Krystal Hu and Arriana McLymore (Reuters) – Online fashion giant Shein is exploring plans to build a factory in Mexico as one of its manufacturing hubs outside China, sources familiar with the matter told Reuters, as the company faces increased scrutiny from U.S. lawmakers and looks to expand its Latin America footprint. The factory,…
