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China is earning roughly $500m an hour from exports, and AI-related goods are doing the heavy lifting

China’s export earnings have reached roughly $500m an hour, according to a Bloomberg calculation based on the latest customs data, with AI-related goods accounting for about half of the year-on-year growth that has driven the figure to record levels. Total Chinese exports rose 14.1% year-on-year in April to a record $359.4bn, comfortably ahead of consensus […]

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Ilya Sutskever discloses $7bn OpenAI stake during Musk-OpenAI litigation

The former OpenAI chief scientist, who now runs Safe Superintelligence, gave the figure under oath. It places him among the largest individual shareholders in the company. Ilya Sutskever, the former chief scientist of OpenAI who now runs Safe Superintelligence Inc., disclosed during testimony in the Musk-OpenAI litigation on Monday that his ownership stake in OpenAI […]

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ServiceNow lines up $4bn bond sale to refinance Armis acquisition debt

ServiceNow is looking to raise approximately $4bn in a US high-grade bond sale to refinance debt taken on to fund its acquisition of cybersecurity firm Armis Security, Bloomberg reported on Monday. JPMorgan Chase, Wells Fargo, Barclays and Citigroup organised investor calls on Monday ahead of the issuance. The trade will replace a $4bn unsecured term […]

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