In a significant development U.S.-headquartered digital currency exchange CrossTower has set up a local unit in India and has launched a trading platform to increase its traction in the burgeoning domestic crypto market. The development comes at a time when the fate of cryptocurrency is still unclear in India. CrossTower India has hired 35 people…
On Monday, Oliver Blume, the CEO of luxury sports car maker Porsche AG said, the carmaker is attracting huge demand for its all-electric coupe Taycan model, causing wait times to stretch to up to six months. “Our original production capacity for the Taycan was 20,000 units this year – we’ve sold that many in the…
On Friday, China’s Semiconductor Manufacturing International Corp said, it will invest $8.87 billion to build a chip plant in Shanghai. The development underscores Beijing’s efforts to boost its independence in the chip manufacturing sector. The development comes at a time when global chipmakers are struggling to fulfill orders from the electronics and automotive industries triggering new…
In a statement the CEO of global cryptocurrency exchange Binance said, its U.S. arm could potentially see an initial public offering in the next three years. “Binance.US is just going to do what Coinbase did,” said Zhao. He went on to add, Binance.US is set to close on a large private funding round in the…
On Wednesday, in a statement Royal Dutch Shell announced its plans to significantly expand its network of electric vehicle charging points in Britain. Shell plans on installing 50,000 on-street charging stations by 2025; it plans on implementing its plan through ubitricity, an on-street charging point company that it acquired earlier this year in February. Incidentally,…
Nike’s latest difficulties are revealing a problem that cannot be solved through cost cutting alone. The company has announced additional job reductions and warned of a deeper sales decline, extending the timetable for a turnaround under CEO Elliott Hill. The challenge is therefore shifting from managing a temporary slowdown to repairing weaknesses in products, markets…
Tesla’s stronger-than-expected third-quarter vehicle deliveries have changed the immediate picture for its car business, but the figures do not by themselves resolve the larger questions surrounding demand, competition and the company’s shift toward artificial intelligence. Tesla delivered 486,532 vehicles during the quarter, exceeding the approximately 456,896 vehicles expected by analysts. The result places the company…
Nvidia’s effort to help finance the expansion of artificial intelligence infrastructure is forcing Wall Street to confront a difficult financial question: how should rapidly evolving computing hardware be valued when it is used as collateral for long-term debt? The company has joined major financial institutions in developing financing platforms designed to mobilize more than $500…
Europe’s effort to strengthen its artificial intelligence capabilities is increasingly moving from strategy documents and research programmes towards the physical infrastructure required to run advanced computing systems. The expansion of Bull’s supercomputer manufacturing facility in France illustrates that shift. The company has doubled production capacity at its Angers factory as European governments seek greater control…
The cryptocurrency industry’s largest thefts have repeatedly demonstrated that the biggest challenge facing digital assets is not simply market volatility but the security of the infrastructure that holds and moves them. A series of major attacks, including the latest theft involving hundreds of millions of dollars, shows how exchanges, digital wallets and blockchain-based systems remain…
Pepco Group’s stronger fourth-quarter trading and upgraded earnings expectations highlight how Europe’s discount retail sector is increasingly relying on volume, inventory discipline and store expansion to generate growth. The company now expects underlying net earnings growth of more than 60% for its financial year, compared with previous guidance of more than 50%, while revenue is…
Anthropic’s planned public offering is revealing a central contradiction in the economics of frontier artificial intelligence: the faster an AI company expands, the more heavily it may have to rely on the technology giants it ultimately competes with. The company’s confidential IPO prospectus shows that Amazon and Google are simultaneously investors, computing suppliers, distribution partners…
Shein’s first results as a publicly listed company have exposed the pressure building beneath the rapid-growth model that made the online fashion retailer one of the world’s largest apparel platforms. The company returned to profit in the second quarter and generated $11.08 billion in sales, but its profit fell sharply compared with earlier periods and…
Nvidia’s decision to add $150 billion to its share-repurchase authorisation reveals how the artificial intelligence boom is changing the capital allocation decisions of the semiconductor industry. The additional authorisation brings the remaining amount available under the company’s programme to $235 billion through fiscal 2028, making it the largest such increase by a United States company.…
Anthropic’s decision to warn prospective investors that advanced artificial intelligence could create catastrophic or existential risks places an unusual responsibility on the company as it prepares for a public offering. The warning is not simply a statement about distant technological possibilities. It appears inside a document designed to explain risks to shareholders, meaning that the…
