Key Business News

June 12 (Reuters) – SpaceX (SPCX.O), opens new tab shares jumped 19% in their Nasdaq debut on Friday, sending the company’s value past $2 trillion to make it the sixth-biggest U.S. company by value and turning Elon Musk into the world’s first trillionaire. Investors jumped at the chance to get a piece of Musk’s sprawling empire spanning rockets, satellites and

June 12 (Reuters) – Meta (META.O), opens new tab CEO Mark Zuckerberg has told employees that the social media giant has made mistakes in its AI transformation of its workforce, according to an internal memo seen ‌by Reuters. Zuckerberg is pumping hundreds of billions of dollars into AI as he seeks to reshape his company’s inner workings around

BRUSSELS, June 3 (Reuters) – The European Commission proposed new laws on Wednesday to boost domestic cloud, ‌AI and semiconductor industries, aiming to cut reliance on U.S. Big Tech in a move that could ratchet up transatlantic tensions. The Cloud and AI Development Act and Chips Act 2.0 form part of Europe’s push for technological sovereignty

June 3 (Reuters) – Soaring memory chip prices driven by massive AI demand risk stoking “chipflation,” Morgan Stanley analysts cautioned, as makers of devices from smartphones to PCs are forced to choose between raising prices and settling for thinner margins. The brokerage said on Tuesday that ‌memory chip prices have spiked six-fold in the past year,

May 30 (Reuters) – AI chip firm Nvidia (NVDA.O), opens new tab and Microsoft (MSFT.O), opens new tab are expected next week to debut the first Windows PCs that use Nvidia’s chips ‌as the main processor, Axios reported on Saturday, citing sources. Nvidia-powered computers are expected both from Microsoft’s Surface brand as well as other computer makers including Dell (DELL.N), opens

PARIS, May 30 (Reuters) – Japan’s SoftBank Group (9984.T), opens new tab will invest €45 billion over the next five years in a push to build up artificial intelligence infrastructure ‌in France, the company announced on Saturday. SoftBank said the investment, described as the biggest of its kind so far in Europe, would be made in the northern

ROME, May 22 (Reuters) – Italy’s financial police said on Friday they had busted a sophisticated streaming piracy network that caused roughly €300 million ($348 million) in ‌damages to rights holders such as Sky, DAZN, Netflix, Disney+ and Spotify. The operation targeted previously unseen technology built around an application called CINEMAGOAL, which connected users’ devices to

May 23 (Reuters) – Chinese artificial intelligence startup DeepSeek will make permanent a 75% price cut on ‌its flagship V4‑Pro artificial intelligence model, keeping prices at a quarter of their original level, the company said in a statement on Saturday. DeepSeek did not disclose whether the permanent price cut was due to increased ⁠supply of Huawei’s