BERLIN (Reuters) - Porsche SE has taken a stake in Canadian AI company Waabi Innovation Inc as part of a financing round that raised a total of $200 million, the German company said on Tuesday.
(Writing by Friederike Heine, Editing by Madeline Chambers)
When Wu Cunsong and Chen Binghui founded their artificial intelligence startup two years ago in Hangzhou, China, they quickly ran into obstacles, including dearth of venture capital.
Huawei Technologies has teamed up with Chinese foundry Wuhan Xinxin Semiconductor Manufacturing Co to develop high-bandwidth memory (HBM) chips, according to sources, as these devices have become an indispensable component in the computing infrastructure used for artificial intelligence (AI) projects. This initiative also involves mainland integrated circuit (IC) packaging firms Jiangsu Changjiang Electronics Tech and Tongfu Microelectronics, which are tasked to provide the so-called Chip on Waf
Ninja Van CEO Chang Wen Lai will deliver a virtual address at 11am on July 2, according to an anonymous source.
This investment includes an increase in early career compensation, the launch of EY SCALE and enhanced learning opportunities.
For many people, retirement may seem like a far-off accomplishment, a glorious place that looms over a distant horizon. However, you might be in a position to close the gap and round the curve into...
The Biden administration has revoked eight licenses this year that had allowed some companies to ship goods to Chinese telecoms equipment giant Huawei, according to a document seen by Reuters, as it seeks to pressure the resurgent company. The Commerce Department, which oversees U.S. export policy, said in May it had revoked "certain" licenses, as first reported by Reuters, but did not specify the name or number of suppliers that were impacted. Licenses for Qualcomm and Intel were among those revoked, Reuters reported at the time.
STOCKHOLM (Reuters) -Electric vehicle (EV) maker Polestar said it will have to take steps to offset hefty EU and U.S. import tariffs on its Chinese-made electric cars as it posted a first-quarter operating loss on Tuesday. The Swedish company, controlled by China's Geely, makes all its EVs in China, but its new model, the Polestar 3, will be made in the United States from the end of this summer and its Polestar 4 in South Korea from the second half of next year. Until then, it will incur provisional tariffs of 20% for the cars it brings into the European Union under a proposal by the European Commission and more than 100% for the United States.
Rising tensions in the Middle East are adding a premium to oil prices as traders weigh the potential of an interruption to Iran's oil supply.
Activity in India's manufacturing sector rebounded last month as output increased on robust demand, leading to the fastest rate of hiring in over 19 years, despite inflationary pressures remaining elevated, a survey showed. The HSBC final India Manufacturing Purchasing Managers' Index, compiled by S&P Global, rose to 58.3 in June, marginally below a preliminary 58.5 estimate, from a three-month low of 57.5 in May. "The Indian manufacturing sector ended the June quarter on stronger footing," said Maitreyi Das, global economist at HSBC.
Investing.com-- Oil prices steadied in Asian trade on Tuesday after running up sharply in recent sessions as traders bet on increased demand during the Independence Day holiday and potential supply risks from geopolitics and weather-related disruptions.
When Ted Rossman was at Newark Airport in New Jersey the other day, he got a shock along with his sandwich. Rossman, a senior industry analyst for financial information site Bankrate, went to a self-serve kiosk for a snack before a flight, scanned the item himself, and was asked for a tip. Which is why Americans are apparently fed up, according to a new Bankrate survey on the subject.
Bitcoin mining stocks outperformed the underlying cryptocurrency in June, driven by excitement around AI data centers, the value of power access, and a decline in network hashrate. According to a note from JPMorgan, dated Monday, these factors contributed to a 19% sequential increase in the aggregate market cap of 14 U.S.-listed bitcoin miners, which reached $22 billion. Despite an overall decline, the average Bitcoin price in June hovered around $66,000, up merely 1% from May. However, it exited the month lower at a $61,200 seven-day rolling average, an 11% decrease from the previous month's figure.
For months, Philip Matthias tried to convince his father to install solar panels on their company's roof in the eastern German state of Thuringia, aiming to cut electricity costs and carbon emissions at the metal products factory. Since the war in Ukraine and the sudden drop in Russia fossil fuel exports to Germany, Berlin has introduced laws to accelerate solar power expansion, part of its plan to cover 80% of the country's energy from renewables by 2030. Encouraged by a feed-in tariff providing a guaranteed price to renewable energy producers selling their power, as well as reduced solar panel costs, German companies are increasingly turning to solar to get around high energy costs.
Mark Cuban, entrepreneur, venture capitalist and "Shark Tank" shark, knows a little something about being rich. According to Forbes, Cuban has a net worth of $5.4 billion. He also has advice for...
Retirement can seem like a faraway goal until all of a sudden, it's not. When you only have a few years left until you retire, the financial decisions you make take on a new importance. Once you're inside the five-year window, that's a good time to review your plan to make sure you're on track. […] The post How to Master the Last 5 Years Before Retirement appeared first on SmartReads CMS - SmartAsset.
Kanye West is being sued by a group of former employees, who accuse him and former chief of staff Milo Yiannopoulos of “fostering a racist environment” and forcing employees to work “insanely long hours.” According to TMZ, the filing was by developers hired to work on West’s YZYVSN streaming service app, which he wanted to use to …
Russian energy giant Gazprom's average daily natural gas supplies to Europe jumped by almost 23% in June from a year earlier, rebounding from last year's post-Soviet lows, although they fell 8.6% from May, Reuters calculations showed on Tuesday. Exports were lower last month than in the previous month amid planned maintenance at the TurkStream undersea pipeline on June 6-9. The calculations, based on data from the European gas transmission group Entsog and Gazprom's daily reports on gas transit via Ukraine, showed that average daily pipeline exports decreased to 81.8 million cubic metres (mcm) last month from 89.5 mcm in May, but they were up from the 66.8 mcm in June 2023.
Cheesecake Factory (CAKE) continues to benefit from increased consumer demand and the opening of new restaurants.
The NHTSA recently announced recalls for 1,071,798 vehicles. This includes Ford, Volkswagen, Toyota, Porsche, Tesla, Chrysler, Nissan, GM and Jaguar.
Australian job advertisements fell for a fifth straight month in June, data showed on Monday, as labour demand continued to ease in the face of high interest rates and a slowing economy. Data from Australia and New Zealand Banking Group and employment website Indeed showed job ads fell 2.2% in June from May, when they dropped by a revised 1.9%. "The pace of declines in ANZ-Indeed Australian Job Ads has intensified," said ANZ economist Madeline Dunk.
Yahoo Finance