Author: Advanced AI Editor

(Reuters) -Meta Platforms is seeking to raise $29 billion from private capital firms to build artificial intelligence data centers in the U.S., the Financial Times reported on Friday. The Facebook-parent has advanced discussions with private credit investors including Apollo Global Management, KKR, Brookfield, Carlyle and PIMCO, the report said, citing people familiar with the matter. Meta is looking to raise $3 billion in equity and $26 billion in debt, the report said, adding that the company is debating how to structure the debt raising and may also seek to raise more capital. Such a fundraising comes at a time when…

ZURICH (Reuters) -Siemens has recruited Amazon executive Vasi Philomin to its new position of head of data and artificial intelligence, the German technology company said on Monday. The move is the latest step by Siemens as it seeks to develop AI products and applications like its Industrial Copilot. Siemens has been aiming to accelerate its transition to a technology-focussed company, with AI seen as a key area along with industrial software. In 2023, Siemens unveiled a partnership with Microsoft to use artificial intelligence to increase productivity and human-machine collaboration in the manufacturing, transportation and healthcare industries. The project will create…

By Jaspreet Singh (Reuters) -Meta CEO Mark Zuckerberg has reorganized the company’s artificial intelligence efforts under a new division called Meta Superintelligence Labs, according to a source on Monday. The division will be headed by Alexandr Wang, former CEO of data labeling startup Scale AI. He will be the chief AI officer of the new initiative at the social media giant, the source said. The high-stakes push follows senior staff departures and a poor reception for Meta’s latest open-source Llama 4 model, challenges that have allowed rivals including Google, OpenAI and China’s DeepSeek to seize momentum in the AI race.…

By Milana Vinn and Krystal Hu (Reuters) -Surge AI, a data-labeling firm that competes with Scale AI, has hired advisors to raise as much as $1 billion in the first capital raising in the firm’s history, sources told Reuters, as it seeks to capitalize on growing user demand amid Scale AI’s recent customer exodus. The company, founded by former Google and Meta engineer Edwin Chen, is targeting a valuation of over $15 billion, sources said, cautioning that the talks are still in early stages and the final number could be higher. The funding would be a mix of primary and…

(Reuters) -Microsoft will lay off nearly 4% of its workforce, the company said on Wednesday, in the latest job cuts as the tech giant looks to rein in costs amid hefty investments in artificial intelligence infrastructure. The company, which had about 228,000 employees worldwide as of June 2024, had announced layoffs in May, affecting around 6,000 workers. It was planning to cut thousands of jobs, particularly in sales, Bloomberg News reported last month. The Windows maker had pledged $80 billion in capital spending for its fiscal year 2025. However, the soaring cost of scaling its AI infrastructure has weighed on…

By Krystal Hu (Reuters) -Ilya Sutskever has taken over the reins of Safe Superintelligence (SSI), the artificial intelligence startup he launched last year, after losing CEO Daniel Gross to an intensifying talent war in the industry. Gross has joined Meta Platforms to lead its AI products division, sources told Reuters. The development comes as tech giants such as Meta Platforms aggressively chase high-profile acquisitions and offer multi-million-dollar pay packages to attract top talent in the race to lead the next wave of artificial intelligence. Meta had also attempted to recruit Sutskever and acquire SSI, which was most recently valued at…

(Corrects paragraph 2 to delete fourth consecutive quarterly decline) By Heekyong Yang SEOUL (Reuters) -Samsung Electronics is expected to forecast a 39% plunge in second-quarter operating profit on Tuesday, weighed down by delays in supplying advanced memory chips to artificial intelligence chip leader Nvidia. The world’s biggest maker of memory chips is projected to report an April-June operating profit of 6.3 trillion won ($4.62 billion), its lowest income in six quarters, according to LSEG SmartEStimate. The prolonged weakness in its financial performance has deepened investor concerns over the South Korean tech giant’s ability to catch up with smaller rivals in…

By Mateusz Rabiega (Reuters) -France’s Capgemini has agreed to buy technology outsourcing firm WNS for $3.3 billion in cash to expand the range of AI tools it offers for companies, the IT services group said on Monday. The deal equips Capgemini to create a consulting business service focused on helping companies improve their processes and cost efficiency with the use of artificial intelligence, namely generative AI and agentic AI, which it expects to attract significant investments. The purchase price translating to $76.50 per WNS share represents a 17% premium compared to their last closing price on July 3 and does…

By Heekyong Yang and Joyce Lee SEOUL (Reuters) -Samsung Electronics (005930.KS) on Tuesday projected a far worse than expected 56% plunge in second-quarter operating profit due to weak AI chip sales, deepening investor concerns over the tech giant’s ability to revive its struggling semiconductor business. The world’s biggest memory chipmaker blamed the profit miss on U.S. restrictions on advanced AI chips for China, but analysts said the decline was also due to delays in supplying high-bandwidth memory (HBM) chips to key U.S. customer Nvidia. In March, Samsung (005930.KS) flagged meaningful progress on its latest HBM 3E 12-layer chips could come…

(Reuters) -Apple’s top executive in charge of artificial intelligence models, Ruoming Pang, is leaving the company for Meta Platforms, Bloomberg News reported on Monday, citing people with knowledge of the matter. Pang, manager in charge of the company’s Apple foundation models team, will join Meta’s new superintelligence team for a compensation package worth millions of dollars per year, the report added. Meta and Apple did not immediately respond to Reuters requests for comment. The development comes as tech giants such as Meta aggressively chase high-profile acquisitions and offer multi-million-dollar pay packages to attract top talent in the race to lead…