Business News

China’s DeepSeek is raising funds at $10 billion valuation, The Information reports

April 17 (Reuters) – Chinese artificial intelligence startup DeepSeek is in talks with investors to raise at least $300 million at ‌a valuation of $10 billion, The Information reported on Friday, citing two people familiar with the matter. The company, whose low-cost models took the AI industry by storm and rattled stock markets last year, […]

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White House and Anthropic CEO discuss working together amid rising fear about Mythos model

WASHINGTON, April 17 (Reuters) – The Trump administration and Anthropic’s CEO on Friday discussed working together for the ‌first time since a dispute earlier this year between the Pentagon and the AI firm over how that company’s models should be used. The meeting between CEO Dario Amodei and White House staff, which took place amid growing

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Meta, CoreWeave deepen AI cloud partnership with fresh $21 billion deal

April 9 (Reuters) – Meta Platforms (META.O) is deepening its CoreWeave (CRWV.O) partnership ‌with a fresh $21 billion deal for additional cloud computing capacity, as it rushes to catch up with rivals in the high-stakes artificial intelligence race after an underwhelming AI model release last year. The latest deal, which extends through December 2032, is in addition to a

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Amazon CEO reveals AI revenue, dismisses spending doubts in annual letter

April 9 (Reuters) – Amazon’s AI services at its cloud-computing unit are generating annualized revenue of more than $15 billion, CEO Andy Jassy said, the first time the company has reported numbers on a business it has backed with billions of ‌dollars in investment. The figure, based on first-quarter performance, represents roughly 10% of Amazon

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Coinbase gets conditional US approval for trust charter, Bloomberg News reports

April 2 (Reuters) – Coinbase Global (COIN.O), opens new tab has received conditional approval from banking regulators for a national trust company charter, Bloomberg News reported on Thursday, in ‌a move that could boost the biggest U.S. cryptocurrency exchange’s appeal among large institutional investors.   Full approval from the Office of the Comptroller of the Currency would

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China expands digital yuan programme with 12 new bank operators

BEIJING, April 2 (Reuters) – China’s central bank has expanded its digital yuan programme by adding a dozen additional banks as operators, confirming a Reuters report ‌last month. The 12 new banks allowed to handle the digital yuan include China CITIC Bank (601998.SS), opens new tab, China Everbright Bank (601818.SS), opens new tab, China Guangfa Bank, Shanghai Pudong Development Bank (600000.SS),

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UK joins global push to rein in children’s screen use with national guidance

LONDON, March 27 (Reuters) – Britain has told parents to curb young children’s screen time, advising no screens for under-2s and up to an hour a day for 2- to 5-year-olds because prolonged solo use can disrupt sleep and ‌displace play and exercise. Governments worldwide have been moving to tighten rules around children’s online use, with countries

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WTO members bypass opposition to introduce world’s first baseline digital trade rules

YAOUNDE, March 28 (Reuters) – A group of World Trade Organization members agreed on Saturday to sidestep adoption hurdles for the world’s first baseline on digital trade rules, opting to ‌bring the agreement into force among consenting participants, the WTO said.In recent years, efforts by a group of countries to fold the E-Commerce Agreement into

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Russia to give itself sweeping powers to ban or restrict foreign AI tools

March 20 (Reuters) – Foreign AI tools like Claude, ChatGPT and Gemini could be banned or restricted inside Russia ‌if they fail to adhere to new rules that would give Moscow sweeping powers to regulate the sector, according to government proposals published online.The proposals, published by Russia’s Ministry for Digital Development, would extend to the

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Pinterest CEO calls for ban on social media for youth under 16

WASHINGTON, March 20 (Reuters) – Pinterest CEO Bill Ready called on world leaders to ban social media ‌for youth under 16 in a LinkedIn post on Friday. Ready posted his statement while a trial is under way in Los Angeles about youth social media use. Google and Meta face allegations that their apps are fueling a youth mental

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