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  • Business
    Reuters

    Red-hot Nvidia dips after it unveils new AI chip

    "If the brand-new Blackwell chip didn't trigger a fresh rally, it's because the arrival of a new and a more powerful chip was already priced in," said Ipek Ozkardeskaya, senior analyst at Swissquote Bank. Super Micro Computer was down 1.5%, while Advanced Micro Devices shed 1.7% and Marvell Technology dropped 2.2%. Along with the B200 "Blackwell" chip, the company detailed a new set of software tools at its highly anticipated annual developer conference on Monday, to help developers sell artificial intelligence models more easily to firms that use Nvidia's technology.

  • Business
    Reuters

    US DOJ to target pre-IPO artificial intelligence frauds, top attorney says

    The U.S. Justice Department's top prosecutor in San Francisco is targeting artificial intelligence (AI) and other tech start-ups that defraud investors before they go public, he told Reuters. Ismail Ramsey, who became U.S. attorney for the Northern District of California a year ago, said his office is uniquely positioned to crack down on tech start-ups that mislead investors on the path to initial public offerings (IPOs) given his proximity to Silicon Valley venture and angel investors. High-profile examples of such frauds by start-ups include Theranos, whose founder Elizabeth Holmes and president Ramesh "Sunny" Balwani were convicted of deceiving Silicon Valley investors about the start-up's blood-testing technology, or uBiome Inc, a San Francisco start-up whose co-founders were charged with defrauding investors about its ability to expand clinical tests to monitor gut health.

  • Business
    Reuters

    Shriram Finance unit raises $300 million via social bonds

    India Vehicle Finance, a Mauritius-incorporated special purpose vehicle set up by Shriram Finance, has raised $300 million in a "first-of-its-kind deal" by an Indian issuer, according to a term sheet seen by Reuters. The bonds, which come under the "social bonds" category and were issued to U.S. investors, were priced at a coupon of 5.85% late on Monday, inside the initial price guidance of around 6.15%. Proceeds from social bonds are used to address or mitigate specific social issues such as access to essential services, financial inclusion and employment generation, among others.