U.S. Equity Funds See Biggest Outflow in Five Months
U.S. equity funds suffered their largest weekly outflow in five months in the week ended August 26, as investors reassessed the outlook for artificial intelligence ahead of Nvidia’s earnings and awaited potentially important comments...
Nvidia Forecasts 70% Revenue Growth as AI Demand Surges
Nvidia forecast a 70% jump in revenue for its next fiscal year, significantly above Wall Street expectations of 44%, signaling that demand for AI computing remains exceptionally strong. Shares rose nearly 5% in extended...
Best Buy Raises Full-Year Sales and Profit Forecasts
Best Buy has raised its full-year sales and profit forecasts, betting that an artificial intelligence-driven device upgrade cycle will help offset cautious consumer spending. The U.S. electronics retailer now expects annual revenue of $42.3...
Alibaba Launches $10.2 Billion Share Sale to Fund AI Push
Alibaba shares fell sharply in Hong Kong on Monday after the Chinese e-commerce and cloud computing giant launched a $10.2 billion share sale to finance its artificial intelligence ambitions. The company is offering HK$80...
Nvidia in Talks to Invest in Perplexity at $30B+ Valuation
Nvidia is reportedly in discussions to invest in AI search startup Perplexity as part of a funding round that would value the company at more than $30 billion, according to The Information. The potential...
Micron to Invest $10 Billion in New AI Memory Research Lab
Micron Technology said on Thursday it plans to invest $10 billion over the next decade in a newly established research laboratory in Boise, Idaho, aimed at advancing memory technologies, developing compute systems and supporting...
OpenAI Unveils ChatGPT for Teens With Stronger Safeguards
OpenAI on Tuesday introduced “ChatGPT for Teens,” a version of its AI chatbot designed for users aged 13 to 17, featuring enhanced security measures and parental controls. The new system automatically activates when a...
AI App Helps Blind Egyptian Teenagers Experience the World Anew
Sixteen-year-old Cairo schoolgirl Karen Morad, who lost her sight five years ago, experienced a safari in Kenya as if she could see again after using ScribeMe, an AI-assisted app developed by her blind brother,...
Databricks Raises $5 Billion at $190 Billion Valuation
Databricks has closed a $5 billion strategic funding round at a valuation of $190 billion, as the data and artificial intelligence software company ramps up investment in products designed for AI agents. The round...
Lovable Raises $400 Million at $13.3 Billion Valuation
Swedish vibe-coding startup Lovable has raised $400 million in a Series C funding round, valuing the company at $13.3 billion and doubling its valuation from December. The round was co-led by Menlo Ventures and...