Key Business News

May 1 (Reuters) – Reddit (RDDT.N), opens new tab shares jumped over 12% on Friday after an upbeat quarterly revenue forecast underscored growing returns from the social media company’s AI-driven advertising tools. If current gains hold, Reddit is on track to add ‌about $3.4 billion in market value.The company’s AI-optimized ad platform enables advertisers to place targeted ads directly within […]

May 1 (Reuters) – U.S. antitrust authorities have completed ‌their review of Intel’s (INTC.O), opens new tab investment in SambaNova, a chip startup chaired by ⁠Intel CEO Lip-Bu Tan, according to a regulatory notice circulated on Friday. Intel put $35 million into SambaNova in February, which, ‌along ⁠with other financing, boosted Intel’s stake in the startup to ⁠8.2%

April 24 (Reuters) – U.S. chip stocks soared to record highs on Friday as Intel’s unexpectedly strong revenue forecast reinforced confidence that the AI boom powering this year’s rally in the semiconductor sector is showing no signs ‌of slowing down. The foremost stock index for chip makers – the Philadelphia SE Semiconductor Index (.SOX), opens new tab –

April 24 (Reuters) – Demand for Intel’s central processors from firms offering AI services was so strong in the first quarter that it sold even chips it had originally written ‌off, a remarkable turnaround that sent the company’s shares soaring on Friday. The stock (INTC.O), opens new tab surged more than 24% to $83 in early trading, surpassing

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,

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

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

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