OpenAI, the maker of ChatGPT, is considering developing its own artificial intelligence chips and has even considered analysing a potential acquisition target, according to persons familiar with the company’s plans. According to recent internal conversations reported to Reuters, the business has not yet made a decision to proceed. However, since at least last year, it…
Rivian Automotive, a manufacturer of electric vehicles, announced plans to sell $1.5 billion in convertible green bonds and a projected increase in quarterly income. In after-hours trading, shares of the business with headquarters in Irvine, California, decreased by over 8%. When issued, convertible bonds are often viewed unfavourably by investors since they can be diluted…
Before it listings on the New York Stock Exchange next week, investors and analysts say that sandal firm Birkenstock needs to offer more clogs and boots and increase sales through its own website and shops to attract new customers despite a cost of living issue. The initial public offering (IPO) market is gradually reopening after…
A public sale of stock in the company is expected to take place over the following two to three years, according to chipmaker Intel, which aims to operate its programmable chip unit as a standalone business beginning in January. Following the announcement, Intel stock increased by more than 2%. When Intel acquired Altera for $16.7…
According to people familiar with the bank’s operations, UBS is attempting to draw clients by offering above-market rates on deposits as it looks to increase inflows after acquiring struggling rival Credit Suisse. According to one of the sources who asked to remain anonymous because the topic is private, clients who deposit money with Credit Suisse,…
According to persons familiar with the situation, BP Plc is considering selling a 49% share in its U.S. oil and gas pipeline network in the Gulf of Mexico in an effort to earn up to $1 billion. The proposed divestiture would aid BP in achieving its goals to cut debt and preserve its dividend. BP’s…
According to several people with knowledge of the changes, Blue Origin, the aerospace company founded by billionaire Jeff Bezos, expects to dissolve a corporate partnership established years ago to construct a commercial space station, reassigning staff and changing leadership as it adjusts to more pressing priorities. According to three sources with knowledge of the situation,…
According to two sources with knowledge of the situation, Boeing intends to increase production of its most popular 737 narrowbody plane to a record of at least 57 per month by July 2025, indicating increased orders and the company’s recovery following the 737 MAX catastrophe. The objective would satisfy the aircraft manufacturer’s unfulfilled objective from…
The chairman of the indebted real estate developer China Evergrande Group, Hui Ka Yan, is under investigation on suspicion of moving assets overseas, according to a Monday Wall Street Journal story. Evergrande has been trying to obtain the consent of its creditors to restructure its offshore debt, but last week the situation became more difficult…
The public’s worries about the economy increased in August as a result of months of generally depressing data, particularly high rates of youth unemployment, and lottery ticket sales in China surged to their highest level for any month this year. According to data from the finance ministry, the official Xinhua news agency reported on Saturday…
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