Author: Advanced AI Editor
(Bloomberg) — SoftBank Group Corp (SFTBY). raised around $4.8 billion through a sale of T-Mobile US Inc (TMUS). shares, a move that helps fund the Japanese company’s grandiose plans for artificial intelligence. Most Read from Bloomberg The Tokyo-based technology group sold 21.5 million T-Mobile shares for $224 each — pricing at the bottom of the $224 to $228 range — in an unregistered overnight block sale, according to the final terms of the deal seen by Bloomberg News. The offering, which Bloomberg reported earlier, represents a discount of 3% to T-Mobile US’s Monday closing price of $230.99 per share. SoftBank…
(Bloomberg) — Oracle Corp. (ORCL) investors find themselves at a pivotal crossroads. Either heed the warning from a growing list of indicators that suggest the stock has run up too far, too fast — or continue to chase another rally that’s been supercharged by lofty artificial intelligence expectations. Most Read from Bloomberg Shares of the software maker have soared 75% from April’s low, including their best two-day gain since 2001 after its earnings report last week showed AI-fueled revenue growth is gaining steam. However, that’s left the stock trading at it most overbought level in 25 years and at its…
Crosby co-founders John Sarihan (left) and Ryan Daniels (right). | Image Credits:Crosby The tech industry talks a lot about how AI is going to transform work. Legal startup Crosby, which just came out of stealth with a $5.8 million seed round led by Sequoia, is perhaps the most extreme example of what’s coming that we’ve seen to date. Crosby isn’t just making AI software for lawyers – although it is doing that. Crosby is an actual law firm using AI to provide legal services at a speed never before possible. Rather than selling tech to lawyers, Crosby has hired lawyers…
(Bloomberg) — Anysphere Inc., the developer of the popular artificial intelligence code editor Cursor, has had talks with investors about a deal that would double its valuation in a new funding round, according to a person familiar with the matter. Most Read from Bloomberg Investors have approached the company in recent weeks about a funding deal that would value the startup at $18 billion to $20 billion, said the person, who asked not to be identified because the information is private. The talks arrive shortly after the startup, which launched in 2023, surpassed $500 million in annualized revenue. The company…
Amazon CEO Andy Jassy told hundreds of thousands of his employees on Tuesday that generative AI is coming for their jobs and that their best bet is to embrace the technology. “Those who embrace this change, become conversant in AI, help us build and improve our AI capabilities internally and deliver for customers, will be well-positioned to have high impact and help us reinvent the company,” he wrote in a company-wide email that was also published on Amazon’s corporate blog. But no matter how geeked Amazon employees get over new AI tools, Jassy also made a point to note that…
Source: TradingView.com AMD shares continued gaining ground Tuesday, boosted by upbeat Wall Street commentary following the chipmaker’s “Advancing AI” event last week. The stock broke out from a pennant pattern earlier this month and closed above the closely watched 200-day moving average in Monday’s trading session. Investors should watch crucial overhead areas on AMD’s chart around $145, $160 and $175, while also monitoring support levels near $115 and $108. Advanced Micro Devices (AMD) shares continued gaining ground Tuesday, boosted by upbeat Wall Street commentary following the chipmaker’s “Advancing AI” event last week. Piper Sandler on Monday raised its price target…
Bloomberg / Getty Images Amazon CEO Andy Jassy speaks at an Alexa unveiling event in February. Amazon CEO Andy Jassy said he expects the growth of AI to lead to fewer corporate jobs at the company. In a memo to employees Tuesday, Jassy said AI agents could speed innovation by taking on rote work at Amazon. In February, Jassy said Amazon expects to spend $100 billion in capital expenditures this year, with the majority going toward AI infrastructure for Amazon Web Services. Advertisement: High Yield Savings Offers Powered by Money.com – Yahoo may earn commission from the links above. Amazon…
Amazon’s CEO envisions an “agentic future” in which AI robots, or agents, replace humans working in the company’s offices. In a memo to employees made public by Amazon on Tuesday, CEO Andy Jassy said he expects the company to reduce its corporate workforce in as soon as the next few years, as it leans more heavily on generative AI tools to help fulfill workplace duties. “As we roll out more generative AI and agents, it should change the way our work is done,” Jassy stated. “We will need fewer people doing some of the jobs that are being done today, and more…
Amazon CEO Andy Jassy anticipates generative artificial intelligence will reduce its corporate workforce in the next few years as the online giant begins to increase its usage of the technology. “We will need fewer people doing some of the jobs that are being done today, and more people doing other types of jobs,” Jassy said in a message to employees. “It’s hard to know exactly where this nets out over time, but in the next few years, we expect that this will reduce our total corporate workforce as we get efficiency gains from using AI extensively across the company.” The…
Big Tech is shelling out jaw-dropping compensation amid a fierce AI talent war. Meta is even offering $100m signing bonuses to woo top OpenAI researchers, according to CEO Sam Altman. But as top AI companies scramble to retain staff with massive bonuses and noncompete deals, entry-level engineers are seeing fewer opportunities amid a declining junior hiring trend. The AI talent war has been heating up between Big Tech companies as they vie for an increasingly small group of elite AI researchers. According to OpenAI CEO Sam Altman, Meta has been aggressively going after the company’s top engineers—offering eye-watering compensation and…