Category: Business

(Reuters) -Microsoft has abandoned data center projects set to use 2 gigawatts of electricity in the U.S. and Europe in the last six months due to an oversupply relative to its current demand forecast, TD Cowen analysts said on Wednesday. The tech giant’s withdrawal from new capacity leasing was largely led by the decision not […]

By Jaspreet Singh (Reuters) – Elon Musk-owned social media platform X is poised for the company’s first year of advertising revenue growth since its acquisition by the billionaire in 2022, data from research firm Emarketer showed on Wednesday. Brands are returning to X at a time when Musk’s influence has grown in the Trump administration, […]

(Reuters) – OpenAI is not expecting its cash flow to turn positive until 2029, Bloomberg News reported on Wednesday, citing a person familiar with the matter. The San Francisco-based artificial intelligence bellwether is grappling with significant costs from chips, data centers and talent needed to develop cutting-edge AI systems, according to the report. By 2029, […]

By Marianna Parraga (Reuters) -Loading of Venezuela’s heavy crude at its main oil ports slowed this week after the U.S. imposed a tariff on trade with countries buying the South American nation’s oil and producer Chevron began reducing its tanker fleet there, according to shipping data and a document seen on Tuesday. On Monday, U.S. […]

By Jonathan Stempel NEW YORK (Reuters) – Ripple Labs agreed to settle a U.S. Securities and Exchange Commission civil lawsuit over the alleged sale of unregistered securities and pay just $50 million of a previously imposed $125 million fine, the cryptocurrency company’s chief legal officer said on Tuesday. The accord would end one of the […]

BEIJING (Reuters) – Chinese artificial intelligence startup DeepSeek released a major upgrade to its V3 large language model, intensifying competition with U.S. tech leaders like OpenAI and Anthropic. The new model, DeepSeek-V3-0324, was made available through AI development platform Hugging Face, marking the company’s latest push to establish itself in the rapidly evolving AI market. […]

(Reuters) – OpenAI’s Chief Operating Officer Brad Lightcap will oversee global expansion and corporate partnerships, CEO Sam Altman said on Monday, as the Microsoft-backed startup seeks to cement its dominance in the fast-growing AI industry. The ChatGPT-maker is partnering with SoftBank Group and Oracle to establish a network of data centers under the $500-billion Stargate […]

By Deborah Mary Sophia and Akash Sriram (Reuters) -Tesla shares surged 10% on Monday after this year’s steep decline following reports the Trump administration is likely to exclude a set of sector-specific tariffs while applying reciprocal levies on April 2. Traders also took advantage of the near 40% decline in the stock so far this […]

BEIJING (Reuters) – China’s commerce minister told Apple CEO Tim Cook on Monday that the company is welcome to expand investment in the country, a ministry statement showed. Wang Wentao, the minister, and Cook exchanged views on topics such as Apple’s business development in China and China-U.S. economic and trade relations, according to the statement. […]

(Reuters) – Barclays won the dismissal on Friday of two U.S. securities fraud lawsuits stemming from the British bank’s unauthorized sale of $17.7 billion more securities than U.S. regulators allowed. U.S. District Judge Lewis Liman in Manhattan said investors who acquired Barclays’ iPath Series B S&P 500 VIX Short-Term Future exchange-traded notes (“VXX”) could not […]