Category: Business
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Meta plans launch of new AI language model Llama 3 in July, The Information reports
(Reuters) – Meta Platforms is planning to release the newest version of its artificial-intelligence large language model Llama 3 in July which would give better responses to contentious questions posed by users, The Information reported on Wednesday. Meta researchers are trying to “loosen up” the model so that it could at least provide context to…
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Berkshire shares end in red as US threatens to sue unit over wildfire costs (Feb. 26)
(This Feb. 26 story has been refiled to fix the syntax in the headline) By Niket Nishant (Reuters) – Warren Buffett-led Berkshire Hathaway’s shares closed down by more than 2% on Monday, slowing its march to $1 trillion market value on investor worries after the U.S. government warned of a lawsuit against its power company,…
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Disney activist Blackwells demands AI strategy to boost shares
By Dawn Chmielewski and Svea Herbst-Bayliss (Reuters) -Walt Disney shareholder Blackwells Capital is calling for it to come up with an artificial intelligence (AI) strategy, saying that this could lift the U.S. media and entertainment conglomerate’s stock price by as much as 129%. Blackwells is one of two activist investors pushing for board seats at…
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Chipmaker Broadcom sells remote-access unit to KKR in $4 billion deal
By Samrhitha A and Anirban Sen NEW YORK (Reuters) -Chipmaker Broadcom is selling a unit that allows users to access desktops and applications from any device to private-equity firm KKR in a $4-billion deal to streamline its portfolio after the $69-billion purchase of VMware last year. The end-user computing (EUC) unit will operate as a…
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Microsoft partners with OpenAI’s French rival Mistral
By Yuvraj Malik and Krystal Hu (Reuters) -Microsoft will make French startup Mistral AI’s artificial intelligence models available through its Azure cloud computing platform under a new partnership, the companies said on Monday. The multi-year deal signals Microsoft’s efforts to offer a variety of AI models beyond its biggest bet in OpenAI as the tech…
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Intuitive Machines shares descend fast after the CEO says the moon lander is on its side
By Akash Sriram, Harshita Mary Varghese and Joey Roulette (Reuters) -Shares of moon lander maker Intuitive Machines tumbled 30% in extended trade, wiping out a Friday rally after the company said its spacecraft had tipped over shortly after touching down on the lunar surface a day earlier. The stock of the first private company to…
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Nvidia briefly hits $2 trillion valuation as AI frenzy grips Wall Street
By Aditya Soni and Patturaja Murugaboopathy (Reuters) -Nvidia briefly hit $2 trillion in market value for the first time on Friday, riding on insatiable demand for its chips that made the Silicon Valley firm the pioneer of the generative artificial intelligence boom. The milestone followed another bumper revenue forecast from the chip designer that drove…
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Oil ends lower, posts weekly decline as US rate cut hopes dim
By Nicole Jao NEW YORK (Reuters) -Oil prices fell nearly 3% lower on Friday and posted a weekly decline after a U.S. central bank policymaker indicated interest rate cuts could be delayed by at least two more months. Brent crude futures settled down $2.05, or 2.5%, at $81.62 a barrel, while U.S. West Texas Intermediate…
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Credit spreads over US Treasuries fall as market gains confidence
By Alden Bentley and Davide Barbuscia (Reuters) – The spreads between both investment-grade and junk-rated corporate bond yields and U.S. Treasuries have fallen to their narrowest level in more than two years, in a sign of overall investor confidence growing. The spread on the ICE BofA U.S. Corporate Index, a commonly used benchmark for high-grade…
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Intel signs Microsoft as foundry customer, says on track to overtake TSMC
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…