In this photo illustration, the OpenAI logo is displayed on a mobile phone screen with a photo of Sam Altman, CEO of OpenAI.Didem Mente | Anadolu | Getty ImagesOpenAI is in talks to raise a funding round that would value the artificial intelligence startup at more than $100 billion, CNBC has learned.Thrive Capital is leading the round and will invest $1 billion, according to a source with knowledge of the matter who asked not to be named because the details are confidential.Earlier this year, OpenAI was valued at a reported $80 billion from $29 billion the prior year. Annualized revenue…
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The Uber company logo is seen in the Falchi Building on June 26, 2024 in New York City.Michael M. Santiago | Getty ImagesUber Technologies’ CEO on Friday expressed commitment to the South Korean market, where it is an underdog to local tech group Kakao, and said the platform will attract more taxi drivers for growth.”The fact is that a taxi driver who uses the Uber app will make more money, will be more busy,” Uber CEO Dara Khosrowshahi told reporters in Seoul.”We are growing significantly faster than the market, and we’re confident that our market share will only grow from here.”Kakao has a more than 90% market share of taxi-hailing, estimated based…
Check out the companies making headlines in midday trading: Super Micro Computer — Shares shed 19.1% after the artificial intelligence server company said it would postpone filing its annual 10-K form for the fiscal year that ended June 30. Super Micro Computer said its management requires more time to “complete its assessment of the design and operating effectiveness of its internal controls over financial reporting.” Hindenburg Research revealed a short position in the stock Tuesday. Neurocrine Biosciences — The biopharmaceutical stock plummeted nearly 19%. The company reported positive top-line Phase 2 data for its drug targeting schizophrenia in adults, but…
A sigh of relief is in order. Salesforce shares jumped more than 4% in extended trading Wednesday after the enterprise software giant beat sales and earnings expectations in the second quarter. The company may have maintained its full-year revenue outlook, but that was taken as good enough after last quarter’s debacle. Plus, an increase to its margin forecast showed Salesforce remains committed to profitable growth. Revenue increased 8% year over year to $9.33 billion in the quarter, beating the $9.23 billion expected by analysts, according to estimates compiled by LSEG. Adjusted earnings per share of $2.56 increased 21% on an…
You’ve heard it on the Street — and seen it in the streets. Young consumers are increasingly opting for New Balance sneakers or Adidas Sambas, according to Stifel Financial. That could be the latest hit to struggling Nike shares, according to the investment bank. Nike still reigns supreme and carries the most popular shoe with its Dunk, said analyst Jim Duffy. But he said other areas of Nike’s shoe business are eroding — and chipping away at its market share. Meanwhile, competitors offering bold alternatives are seeing momentum. Stifel’s back-to-school survey shows “consumers embracing newness across a range of trends…
ShareShare Article via FacebookShare Article via TwitterShare Article via LinkedInShare Article via EmailJohn Stoltzfus, Oppenheimer Asset Management, joins ‘Fast Money’ to talk today’s Fed speak, the impact of possible cuts on the markets and more.04:50Fri, Aug 23 20246:13 PM EDT Source link
A man checks the label of a vitamin jar at a Costco Wholesale store in Colchester, Vermont, on April 3, 2024.Robert Nickelsberg | Getty ImagesSmall business confidence hit its lowest level in more than 11 years for March as proprietors worried that inflation is still very much a problem.At a time when other data points show inflation receding, the National Federation of Independent Business reported Tuesday that its survey showed a reading of 88.5, down nearly a point from February and the lowest since December 2012.A quarter of all respondents reported that rising costs were the biggest problem.”Small business optimism…
A good credit score (FICO scores 670 and above) is essential to qualify for the lowest mortgage rates, snag a stellar credit card bonus and sometimes even land your dream job. Since your credit influences so many major life decisions, it’s important to build credit early and consistently.You can build credit in any number of ways, including opening a credit card, paying eligible bills on time with *Experian Boost™ and getting credit for monthly rent payments.Knowing why credit is so important can help motivate you to work on building a good credit score. Below, we outline a few major benefits…
Republican presidential nominee, former U.S. President Donald Trump speaks during the National Guard Association of the United States’ 146th General Conference & Exhibition at Huntington Place Convention Center on August 26, 2024 in Detroit, Michigan.Emily Elconin | Getty ImagesA federal grand jury on Tuesday returned a superseding indictment charging former President Donald Trump with the same offenses that he originally faced in his criminal election interference case in Washington, D.C.The new indictment was filed to conform to guidance from a recent Supreme Court decision granting former presidents “presumptive immunity” for their official acts in office, special counsel Jack Smith said…
In this photo illustration on social platform X, Oasis announce their reunion gigs for next summer on August 27, 2024 in London, England. Leon Neal | Getty Images Entertainment | Getty ImagesLONDON — Liam and Noel Gallagher, the frontmen of British band Oasis, confirmed Tuesday they would put aside a 15-year feud to reunite for a string of shows next year that are expected to generate feverish demand.Oasis announced gigs in Cardiff, Manchester, London, Edinburgh and Dublin across July 4 to Aug. 17, 2025, which they said would be their only European dates next year. Tickets are set to go on…
