OpenAI has tapped global banks for a $4 billion revolving line of credit on top of its recent $6.6 billion fundraising, building a massive war chest to stay ahead in the costly race to develop more sophisticated artificial intelligence.
Earlier this week, Microsoft Corp. named artificial intelligence pioneer Mustafa Suleyman chief of its consumer AI business and hired most of the staff from his Inflection AI startup. A day before, Bloomberg reported that Alphabet Inc.’s Google was in talks to license its Gemini AI engine to Apple Inc.
Microsoft Corp., Alphabet Inc.’s Google and Advanced Micro Devices Inc. — three companies working harder than nearly anyone to weave artificial intelligence into their products — are finding that investor expectations for the technology are hard to meet.
Investors on Wall Street and beyond are betting that the great tech rally of 2023 has staying power, even as they appear skeptical that the artificial intelligence era will live up to the hype.
Uber Technologies Inc. reported revenue that beat analysts’ estimates, boosted by resilient demand from customers who continued to hail rides and order takeout food despite rising inflation. Shares jumped about 14% in early trading.
Some Uber and Lyft drivers are finding that renting or buying a Tesla, the luxury electric car, is a more profitable option now amid soaring gas prices that have upended the economics of gig work.
Hopes for a pact between Texas oil and OPEC have begun to unravel.
Futures are now at the lowest level in almost two decades after Saudi Arabia signaled it’s doubling down on a price war with Russia just as demand evaporates
