Hoffman and Pincus Found AI Lab Prentis With $100 Million in Sight
The founding team reads like a roll call of the internet’s first social era. Reid Hoffman, the LinkedIn co-founder who became one of artificial intelligence’s most visible investors, and Mark…
Two Former VW Engineers Charged Over Rivian Insider Trading
The trades were placed quietly, in accounts that did not attract immediate attention, but their timing was too precise to be coincidence. The U.S. Department of Justice has charged two…
Korea’s Costliest Divorce Nears a Ruling on SK’s Future
Judges at the Seoul High Court were expected on Friday to deliver a ruling in the divorce case of Chey Tae-won, chairman of SK Group, and his estranged wife Roh…
Google Cloud Customers Spend 50% More Than They Promised
Thomas Kurian stood before analysts and investors on July 24 and offered a number that explains, in a single figure, why Google’s cloud business is growing faster than its rivals’.…
Intel Posts Fastest Revenue Growth in 15 Years
Intel’s finance team had a number it had waited a decade and a half to report. Second-quarter revenue came in at $16.1 billion, up 39 percent from a year earlier,…
Nvidia Bets $1.5 Billion on U.S. Chip Packaging
Nvidia said it has signed a $1.5 billion advanced-packaging agreement with Amkor Technology, a move to expand its ability to package AI chips in the United States and reduce its…
EU Fines Google $1 Billion in First DMA Enforcement
The European Commission fined Google about 890 million euros, roughly $1 billion, for favoring its own services in Google Play and in search results, the first financial penalty issued under…
Tesla’s AI Spending Spree Cuts Deep Into Profits
Tesla’s second-quarter report had a headline number investors did not want to see: free cash flow of negative $1.1 billion. Revenue reached a record, but profit fell well short of…
Meta Quits RE100, Turns to Gas for AI Power
Meta has left RE100, the global coalition of companies pledged to buy only renewable electricity, and plans to build a 7.5-gigawatt natural gas power facility in Louisiana to feed its…
Tariffs on 60 Economies Send Global Markets Lower
The new round of tariffs took effect on July 24, and the world’s markets moved in unison: down. Brent crude climbed past $100 a barrel. The Dow Jones Industrial Average…
