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Jennifer Bailey, head of Apple Pay and Wallet since the service launched in 2014, is retiring in October after more than 25 years at Apple. Her exit is one of several senior departures ahead of Tim Cook handing the chief executive job to John Ternus on September 1. Jennifer Bailey, who has run Apple Pay […]
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Apple Executive Who Launched Apple Pay Is Retiring After 25 Years Read More »
Nvidia said on Monday it would partner with six of the largest names in private capital to finance AI infrastructure through vehicles worth more than $500 billion. Apollo, BlackRock, Blackstone, Brookfield, Goldman Sachs and KKR are all in. The company has spent recent months lending its own balance sheet to customers so they could […]
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The Arena Group is renaming itself Paradium.AI. The publisher of TheStreet, Parade and Men’s Journal expects the change to finish by the end of August. Business Insider had it first. Steven Tweedie and Ben Shimkus obtained a staff memo from chief executive Paul Edmondson, confidential until 4:05 PM ET, five minutes after the closing bell. […]
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The Arena Group is renaming itself Paradium.AI, and its revenue just halved Read More »
Jefferies cut Apple from hold to underperform on Monday. That is the bank’s equivalent of a sell rating. It also cut its price target from $285.56 to $263.66. Fortune’s Sebastian Herrera reported the call. The bank’s supply-chain checks produced three reasons. Apple has cancelled a rumoured all-glass iPhone, memory prices are surging, and there is […]
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Apple has run out of iPhone shapes, and Jefferies just cut it to sell Read More »
A group of financial firms is working with Nvidia on a $500bn funding package for AI infrastructure. The group covers Apollo Global Management, Blackstone, BlackRock’s Global Infrastructure Partners, Brookfield Asset Management, Goldman Sachs and KKR. The Financial Times reported the talks first. Bloomberg confirmed them with people familiar with the matter. A deal could land […]
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Nvidia is pulling Wall Street into the AI buildout. Its shares fell on the news Read More »
The AI trade blew up its own poster child last month, and thousands of people decided to keep betting on him. More than 5,000 retail investors are still mirroring Leopold Aschenbrenner’s stock portfolio, Business Insider reported, even after his hedge fund nearly imploded. They do it through Autopilot, an app that builds portfolios from the […]
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His AI fund lost 67% in a month. Thousands still copy his trades Read More »
Microsoft’s AI business looks like a triumph. Its shares jumped after earnings last week, and the AI unit is growing fast. A new filing shows how much of that rests on a single partner. Microsoft booked $24.1 billion in revenue from OpenAI during the year to June, Bloomberg reported. The company disclosed the figure in […]
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Microsoft’s AI business is booming. A filing shows most of it is just OpenAI Read More »
Uber wants to own the robotaxi era without building the cars. “Building a great autonomous driver is one part of building a successful autonomous business,” chief executive Dara Khosrowshahi told analysts on Wednesday. He then listed the rest: dispatch, fleet operations, charging, insurance and regulators. It is a bet the company is spending billions to […]
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The largest leveraged buyout in history has closed. Electronic Arts is now private. A group led by Saudi Arabia’s Public Investment Fund bought it for $55bn, alongside Silver Lake and Jared Kushner’s Affinity Partners. The maker of The Sims, Battlefield and EA Sports FC comes with roughly $20bn of new debt attached. The paperwork is […]
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The biggest leveraged buyout in history just took EA private Read More »
Palantir is having a remarkable week. Its shares jumped almost 30% on Tuesday. Chief executive Alex Karp forecast revenue nearly doubling to $8bn this year, and called demand “otherworldly”. In the same week, a report found it pays almost nothing in tax outside the United States. The numbers are sharpest in Britain, Palantir’s biggest market […]
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Palantir holds £670m of UK contracts. In 2024 it paid £2m in corporation tax. Read More »