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AI chipmaker Nvidia joins tech giants to be worth $1trn | Business News
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A company that makes microchips for artificial intelligence (AI) has become the first chipmaker to be worth $1trn. Nvidia has joined the ranks of tech giants worth the eye-watering sum, including Amazon, Apple, Microsoft, and Google parent company Alphabet, as investors expect the company will benefit from the AI revolution. It makes chips that are […]
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Microsoft lodges appeal against block on $75bn Call of Duty deal | Business News
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Microsoft will on Wednesday lodge a formal appeal against British regulators’ decision to block its $75bn takeover of Activision Blizzard, the Call of Duty maker. Sky News understands that the technology behemoth will file its complaint with the Competition Appeal Tribunal (CAT) within hours, sparking the next phase of its fight to secure one of […]
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Virgin Orbit delays bid deadline in scramble to find rescuer | Business News
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Virgin Orbit has pushed back the deadline for rescue bids as the commercial satellite venture founded by Sir Richard Branson scrambles to avert bankruptcy. Sky News has learnt that the company and its advisers have told would-be buyers of the company that they must now submit final offers by May 19, several days later than […]
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Elon Musk appoints new Twitter chief executive – but is yet to name her | Business News
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Elon Musk has announced he has found a new Twitter chief executive – but is yet to name her. “Excited to announce that I’ve hired a new CEO for X/Twitter. She will be starting in ~6 weeks!” Musk said in a tweet on Thursday. He added that his role within the company will transition to […]
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Apple boss Tim Cook thanks three countries for record iPhone sales | Business News
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Apple has beat Wall Street expectations and market trends in reporting increased iPhone sales in its second quarter results. Both revenues and profits were above investor predictions as a record number of iPhones were sold for the second three month period in its financial year. Sales for the year ending 1 April dropped overall – […]
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AI market faces investigation by UK competition regulator | Business News
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A review of the artificial intelligence (AI) market has been launched by the UK competition watchdog. Competition and Markets Authority (CMA) chief executive Sarah Cardell said the regulator’s goal was “to help this new, rapidly scaling technology develop in ways that ensure open, competitive markets and effective consumer protection.” The probe would include the models behind […]
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Elizabeth Holmes: Disgraced Theranos founder delays going to jail after winning appeal | Business News
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Elizabeth Holmes, the disgraced tech billionaire convicted of fraud, has avoided starting her 11-year jail term on Thursday after a judge backed her appeal to delay it. Holmes, 39, who founded Theranos, was sentenced to 11 years and three months after being found guilty of three counts of investor fraud and one count of conspiracy […]
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Microsoft blocked in bid to buy video game maker Activision Blizzard – but vows to respond | Business News
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The British competition watchdog has blocked Microsoft’s bid to buy video game maker Activision Blizzard. The Competition and Markets Authority (CMA) stopped the $68.7bn (£55bn) deal due to concerns that it would stifle competition in the cloud gaming market. It would have been the record highest price ever paid by a US tech company in […]
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FTX’s Sam Bankman-Fried charged with bribing Chinese officials | Business News
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Disgraced FTX founder Sam Bankman-Fried has been charged with bribing Chinese officials with payments of at least $40m (£32.4m). Prosecutors have accused him of directing the payment to unfreeze accounts belonging to his hedge fund linked to FTX. The accounts of his trading firm Alameda Research, which Chinese authorities had frozen, are said to have […]
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Microsoft’s £56bn Activision Blizzard takeover moves closer as UK watchdog drops concerns | Business News
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Britain’s competition watchdog has provisionally dropped concerns that Microsoft’s proposed takeover of Activision Blizzard would damage the UK console gaming market. The Competition and Markets Authority (CMA) last month warned the £56.7bn deal could result in higher prices, fewer choices or less innovation for UK gamers. However, it said its latest findings have now indicated […]