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Alibaba launches $10.2 billion share placement to fund AI-related development
Alibaba’s Hong Kong share placement will be fully invested in AI, covering chips, infrastructure and model development to accelerate its AI stack.
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TikTok reaches $400 million settlement with Justice Department over children’s privacy
ByteDance agreed to pay $400 million to resolve a federal lawsuit alleging violations of children’s privacy laws, marking a significant regulatory win for U.S. parents.
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Walmart promises price cuts after $2.9 billion tariff refund
Walmart will use a $2.9 billion tariff refund to offer price cuts, after reporting a $6.4 billion net income in the quarter.
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Callosum Raises $100 Million to Make AI Tasks Cheaper
AI startup Callosum secured $100 million in early financing to match AI tasks with the right models and chips, aiming to reduce costs for enterprises.
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Companies are spending trillions on AI. The C‑suite doesn’t know who is in charge of it
A new survey reveals that most CEOs are unclear about who owns AI strategy in their firms, highlighting a governance gap amid soaring AI investment.
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US stock futures steady after tech slump; investors focus on Middle East tensions
Wall Street futures remained stable on a Wednesday after a technology‑driven sell‑off, with investors turning their attention to inflation outlook and geopolitical tensions in the Middle East.
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DOJ’s probe into Andreessen Horowitz over board seats baffles VCs
The Justice Department launched a probe into a16z’s board seats at Databricks and Fivetran, raising concerns about conflicts of interest in venture capital.
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Reach Capital raises $265M Fund V to back AI founders building to ‘expand human potential’
Venture firm Reach Capital closes a $265 million fund focused on AI startups that aim to enhance human capabilities across learning, health and work.
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Tesla to unveil redesigned Roadster as early as August, The Information says
Tesla plans to unveil a redesigned Roadster as early as this month, with a possible demonstration of a limited‑edition version featuring cold‑gas thrusters.
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Anthropic IPO valuation hinges on revenue
Anthropic is projecting 2028 revenue of roughly $190‑$200 billion, a figure that dwarfs its current run‑rate, as investors look to value the AI company based on future earnings.
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Talks to sell PayPal to Stripe and Advent are heating up
PayPal CEO Enrique Lores faces a potential sale as Stripe and private‑equity firm Advent reportedly offer $60.50 a share, valuing PayPal at $53 billion.
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OpenAI hires new CRO as executive shake‑up continues
OpenAI replaces chief revenue officer Denise Dresser with Wiz president Dali Rajic, part of a broader leadership reshuffle ahead of a potential IPO.
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Pandora CEO says new jewellery collections drive growth
Pandora’s new jewellery lines are boosting sales, according to CEO Berta de Pablos‑Barbier, amid a weak U.S. consumer sentiment.
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Shein eyes Hong Kong market debut on August 28, source says
Fast‑fashion retailer Shein plans to list on the Hong Kong Stock Exchange on August 28, after earlier attempts to go public in New York and London.
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Nvidia, Wall Street asset managers partner on $500B AI push
CNBC reports a partnership between Nvidia and leading asset managers to invest $500 billion in AI infrastructure and talent.
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Embattled hedge fund Situational Awareness invests $400M in chip startup Source Foundry
The AI‑focused hedge fund has poured $400 million into Source Foundry, a Stanford‑originated chip startup, bringing its total investment to $500 million amid a broader push to accelerate semiconductor manufacturing.
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Europe's established tech firms emerge as unexpected AI winners
A Reuters analysis finds that European incumbents such as SAP, Capgemini, and OVHcloud are gaining traction in AI deployment, outperforming newer startups in enterprise adoption.
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NJ files antitrust suit against Amazon on delivery contractor control
New Jersey sued Amazon, accusing it of wielding monopsony power over third‑party delivery contractors, alleging wage suppression and anti‑competitive practices in its delivery network.
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Tesla is suing this Canadian province for cutting it out of its EV incentives
Tesla has filed a lawsuit against Manitoba after the province removed the automaker from its electric‑vehicle rebate program.
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Bending Spoons to buy Airtable for $1.28B
Italian mobile app maker Bending Spoons announced a $1.28 billion cash acquisition of spreadsheet and database startup Airtable, marking its first deal since going public.