Tag Archives: Business News

The recent funding infusion will support Imbue in advancing and fine-tuning its reasoning-centric AI technology. On Thursday, September 7, AI Lab Imbue announced that they have successfully raised $200 million in Series B funding, at a massive valuation of $1 billion. The San Francisco-based startup specializes in training foundation models optimized for “reasoning”, a focus it leverages to create AI agents proficient in coding tasks. The company’s mission revolves around democratizing the...

The new AI chatbot will allow Morgan Stanley cater more effectively to its growing wealth division and the teeming clients there. American financial services company Morgan Stanley is looking to introduce an artificial intelligence (AI) chatbot in interactions with its wealthy clients. Morgan Stanley developed the chatbot in collaboration with OpenAI, the company behind ChatGPT. Both Morgan Stanley and OpenAI have been working on the AI chatbot for a while now. Morgan Stanley is now ready...

According to reports, OpenAI may provide updates about some of its products, including the highly anticipated ChatGPT-5, which is still in the works. ChatGPT maker OpenAI is about to make history with its inaugural developer conference, OpenAI DevDay, scheduled for November 6 in the United States. The upcoming event marks a significant milestone in the company’s commitment to fostering collaboration and knowledge-sharing within the AI community. In a blog post on September 6, the company...

Tencent’s announcement closely follows a host of AI-powered applications revealed by Baidu, another tech giant in China. Chinese tech giant Tencent Holdings Ltd (HKG: 0700) is set to launch its cutting-edge AI model, “Hunyuan”, for business applications. This announcement was made by Dowson Tong, CEO of the cloud and smart industries group at Tencent, in an exclusive interview with CNBC ahead of the company’s annual summit. The unveiling of Hunyuan comes at a time when Artificial...

The Arm filing confirmed that the deal with Apple will last beyond 2040, while assuring that its relationship with other tech giants continue. Apple (NASDAQ: AAPL) has signed a deal with Softbank’s chip designer firm Arm that will last through 2040 and beyond, according to a filing with the United States Securities and Exchanges (SEC). The filing also states that the consumer electronics giant will have access to some Arm architecture. Arm says it has close partnerships with leading tech...

d-Matrix’s innovative chip designs have been gaining recognition, particularly for their effectiveness in powering generative AI applications like ChatGPT. d-Matrix, a rising star in the artificial intelligence (AI) chip industry, has successfully secured a significant $110 million in a series B funding round, with substantial support from heavyweight investors, including tech giant Microsoft Corp. This latest funding achievement comes at a time when many chip companies are grappling with...

Regarding SpaceX, Musk holds the title of the largest shareholder, with an impressive 42 percent stake. Elon Musk, the visionary entrepreneur known for pushing the boundaries of space exploration and electric vehicles, has once again captured headlines for his audacious financial moves. A recent report from the Wall Street Journal (WSJ) has revealed that Musk secured a substantial loan of $1 billion from SpaceX, around the same time he was finalizing the acquisition of Twitter Inc, which...

Polestar is trying to create an experience where you can be using an app on your mobile phone and then continue with the app in your car. Polestar, a subsidiary of the Chinese automaker Geely, is preparing to begin production of its Polestar 4 electric cars this year, with a particular focus on the Chinese market. This shows the strategic move by the manufacturer to enter the Chinese market and its priority for technology and innovation. The Chinese market appears to be appealing due to...

This is not the first Chinese government ban on foreign technology. In 2014, the government banned Windows 8 from government computers, citing security risks. China is asking its central government officials not to use Apple iPhones and other foreign-branded devices for work. This was contained in a report by the Wall Street Journal. Before now, only officials in certain agencies could not use iPhones at work. However, it seems Beijing is stepping up its efforts to reduce dependence on...

Evergrande has seen an impressive spike in shares even though both the HSI and the property sector in China are still struggling. Chinese property developer Evergrande saw its shares jump 82% on Wednesday, outperforming other publicly listed companies on the Hang Seng Index (HSI). Evergrande shares closed at HK$0.640 after climbing 82.86%, according to data from MarketWatch. The company’s previous close was HK$0.350. In the last 5 days, Evergrande shares have climbed over 137%. However,...