By Patrick Wingrove and Leroy Leo (Reuters) -Moderna on Thursday reported a surprise fourth-quarter profit, helped by cost cutting and deferred payments, and set out a commercial roadmap for its vaccines in Europe and experimental respiratory syncytial virus (RSV) shot. Shares jumped 8% to $94.65 in early trading, still well off the record high of…
(Reuters) -Google is pausing its AI tool that creates images of people following inaccuracies in some historical depictions generated by the model, the latest hiccup in the Alphabet-owned company’s efforts to catch up with rivals OpenAI and Microsoft. Google started offering image generation through its Gemini AI models earlier this month, but over the past…
By Stephen Nellis and Max A. Cherney (Reuters) -Intel said on Wednesday that Microsoft plans to use its services to manufacture a custom computing chip and that the company expects to beat an internal deadline of 2025 to overtake its biggest rival, Taiwan Semiconductor Manufacturing Co, in advanced chip manufacturing. The American chipmaker also gave…
By Akash Sriram and Abhirup Roy (Reuters) -Rivian said on Wednesday it would cut its workforce by 10% and forecast EV production for this year that widely missed estimates, hurt by downtime for factory upgrades and slowing demand for electric vehicles due to high interest rates. Shares of the company tumbled about 16% in extended…
(Reuters) – Google said on Wednesday that some of its artificial intelligence tools that it offers to businesses will be powered by the company’s “Gemini” AI models and available at a lower-priced plan as it looks to compete with Microsoft-backed OpenAI. The Alphabet unit in August last year introduced “Duet AI in Workspace”, a set…
By Howard Schneider WASHINGTON (Reuters) – Inflation data in January, with consumer and wholesale prices rising faster than anticipated, complicate upcoming U.S. central bank interest rate decisions, Richmond Federal Reserve President Thomas Barkin said on Wednesday. The reports released last week “underline the challenge we have had in the recent data,” with a slowdown of…
(Reuters) – U.S. miner Piedmont Lithium said on Wednesday it would sell its remaining shares in Australian miner Sayona Mining for about A$59.9 million ($39.28 million). Weakness in lithium prices due to global supply outweighing demand led to Piedmont cutting 27% of its workforce earlier this month as part of a broader cost cutting plan….
By Tom Wilson LONDON (Reuters) -Major U.S. crypto firm Circle will end support for its USDC token on the Tron blockchain network, a decision the company said on Wednesday “aligned with its efforts to ensure that USDC remained trusted, transparent and safe”. Boston-based Circle said in a blog that, effective immediately, it would no longer…
By Noel Randewich (Reuters) -Chipmaker Nvidia is replacing Tesla as Wall Street’s most traded stock by value, adding to its prominence after becoming the third-most valuable U.S. company and showing more evidence of how central AI-related bets have become to investors. Nvidia’s outsized representation in day-to-day stock trading could leave investors more vulnerable should the…
By Siddharth Cavale and Ananya Mariam Rajesh (Reuters) -Walmart kicked off U.S. retailers’ reporting season on Tuesday with robust fourth quarter results after inflation-squeezed shoppers flocked to its stores, and said it would buy smart-TV maker Vizio for $2.3 billion. Shares of the retail giant rose as much as 6.5% to an all-time high of…