By Jaspreet Singh and Krystal Hu (Reuters) -Nvidia-backed Together AI said on Wednesday it has raised $106 million in a new funding round, doubling its valuation since last fall as investors rushed to back startups capitalizing on the generative AI boom. Led by Salesforce Ventures, the funding valued Together AI at $1.25 billion. Other investors…
By Abhijith Ganapavaram, Rajesh Kumar Singh and David Shepardson (Reuters) -U.S. air carriers warned on Tuesday that their plans to increase capacity were in doubt due to more jet delivery delays from Boeing, as the hit to the airline industry from the planemaker’s safety crisis worsens. The airline industry has cut expectations for deliveries this…
By Niket Nishant and Hannah Lang (Reuters) -Digital asset manager Grayscale Investments on Tuesday filed for a spin-off of its spot bitcoin exchange-traded fund (ETF), the Grayscale Bitcoin Trust (GBTC). The spin-off is part of a bid to offer investors lower-fee exposure to bitcoin, according to a person familiar with the matter. GBTC – which…
By Chibuike Oguh NEW YORK (Reuters) -Shares of Arm Holdings, the British chip designer backed by Softbank Group, gained 2.1% to $129.50 on Tuesday as markets braced for increased trading activity following the expiration of the lockup period tied to its blockbuster initial public offering (IPO). Most market debuts include a lockup period of up…
(Reuters) -John Barnett, a former Boeing employee who had reportedly raised concerns about the company’s production issues, was found dead of an apparent suicide, according to authorities in South Carolina. Barnett had worked at Boeing for 32 years before leaving the company in 2017, according to the BBC, which previously reported on his efforts to…
By David Shepardson WASHINGTON (Reuters) -U.S. presidential candidate Donald Trump said on Monday TikTok was a national security threat but also said a ban on the popular app would hurt some kids and only strengthen Meta Platforms’ Facebook, which the Republican has harshly criticized. Trump reiterated his concerns as lawmakers weigh a bill this week…
By Dawn Chmielewski (Reuters) -Walt Disney responded on Monday to billionaire Nelson Peltz and his Trian Fund’s campaign to win two board seats with an attack on the activist shareholder’s motivations and qualifications in an increasingly bare-knuckled proxy battle. In a 66-page regulatory filing late Monday, Disney said Peltz and Trian’s other designated board candidate,…
By Simon Lewis and Humeyra Pamuk WASHINGTON (Reuters) – The United States must employ “all the tools at our disposal” to outcompete China, a top U.S. State Department official said on Monday, as the Biden administration unveiled its budget request for the 2025 fiscal year. The request includes $4 billion over five years in mandatory…
By Mike Stone WASHINGTON (Reuters) – Castelion, a startup trying to build a hypersonic weapon for the Pentagon, tested its system for the first time, it told Reuters on Monday, as a growing group of small hypersonic arms makers challenge large defense contractors with less expensive, rapidly produced products. The United States and China are…
By Jonathan Stempel (Reuters) – Nvidia, whose chips power artificial intelligence, has been sued by three authors who said it used their copyrighted books without permission to train its NeMo AI platform. Brian Keene, Abdi Nazemian and Stewart O’Nan said their works were part of a dataset of about 196,640 books that helped train NeMo…
