In this photo illustration OpenAI icon is displayed on a mobile phone screen with the photo of Sam Altman, chief executive officer of OpenAI. Didem Mente | Anadolu | Getty Images OpenAI is in talks to raise a funding round that would value the artificial intelligence startup at more than $100 billion, CNBC has learned.
The dominance of megacap technology stocks, dubbed the “Magnificent Seven,” has become a problem for mutual fund managers seeking to diversify their portfolios. The group — Amazon , Microsoft , Meta , Alphabet, Apple , Nvidia and Tesla — have led the current bull market and 2024’s rally, increasing their representation in market-cap weighted benchmarks
Major hedge funds ditched some of 2024’s leading artificial intelligence names ahead of the third-quarter sell-off, according to regulatory filings. The documents released this week showed a slew of billionaire investors selling off stakes in Nvidia , Alphabet and Meta Platforms , among other key contributors to this year’s market gain. The selling came ahead
The Reserve Bank of India on August 6, 2023 Punit Paranjpe | Afp | Getty Images Asia-Pacific markets were mixed in choppy trading on Thursday after U.S. stock benchmarks fell overnight, while investors assessed trade data from Japan and awaited India’s rate decision. The Dow Jones Industrial Average fell 0.60%, while the S&P 500 declined 0.77% on
Alphabet on Thursday delivered largely better-than expected earnings results that showed the search and cloud giant is finally on better footing in the fast-growing AI space. Total revenue in the three months ended June 30 rose 13.6% year over year to $84.74 billion, outpacing the $84.19 billion expected, according to estimates compiled by data provider
Apple ‘s Worldwide Developer Conference on Monday gave us exactly what we needed — reason to believe iPhone users will upgrade their devices sooner rather than later in order to access a new suite of artificial intelligence features. On Monday, the longtime Club holding unveiled its long-awaited generative AI initiatives, known as Apple Intelligence. But
Big Tech has been a closely watched theme over the past year, with investors piling into AI poster child Nvidia and the other so-called “Magnificent Seven” stocks: Alphabet , Amazon , Apple , Meta , Microsoft and Tesla . But this heavy focus on just a few stocks has led one portfolio manager to urge
Microsoft CEO Satya Nadella and Adobe CEO Shantanu Narayen are among the executives investing in the new U.S. professional league, Major League Cricket. Other cricket investors include Iconic Ventures, Madrona Venture Group and executives from Google. “What gets me excited is seeing if cricket can become a mainstream sport in the U.S.,” said Soma Somasegar,
By Andrea Shalal WASHINGTON (Reuters) – President Joe Biden will visit the political battleground state of Wisconsin on Wednesday to announce plans by Microsoft Corp to build a $3.3 billion high-tech data center that will create thousands of jobs, the White House said. The Microsoft facility in Racine County, in southeastern Wisconsin, will be built