Tag: artificial intelligence

Chime to Cut 10% of Workforce, Citing Efficiency Gains from Artificial Intelligence

Digital banking firm Chime plans to reduce its workforce by around 10%, citing efficiency gains from artificial intelligence, joining a wave of AI-driven j

Aschenbrenner’s AI-Focused Hedge Fund Reportedly Sinks 67% in July Unwind

Leopold Aschenbrenner's AI-focused hedge fund reportedly dropped 67% in July, triggering a momentum-stock shakeout followed by a record snap-back rebound.

Amazon Shares Surge as Cloud Growth Bolsters Case for Heavy AI Spending

Amazon shares jumped about 10% after strong AWS cloud sales and a raised capital spending plan reassured investors on its heavy AI investment.

Apple’s Hybrid AI Strategy Is a ‘Competitive Weapon,’ Tim Cook Says

Tim Cook calls Apple's hybrid AI approach a competitive weapon and warns that a full Siri overhaul in China will roll out gradually amid a memory shortage.

OpenAI Tells Staff July Revenue Outpaced Entire Second Quarter Amid Rising AI Rivalry

OpenAI CFO Sarah Friar told employees July annualized revenue surpassed all of the second quarter, as competition from Anthropic and open-source rivals gro

Microsoft Beats Wall Street Estimates With $90 Billion in Quarterly Revenue on AI Growth

Microsoft posted $90 billion in quarterly revenue, beating Wall Street estimates on strong cloud growth and rising AI adoption, sending shares up nearly 3%

Meta Shares Slide Nearly 8% After Earnings Miss Overshadows Zuckerberg’s AI Push

Meta Platforms stock tumbled nearly 8% after second-quarter earnings missed forecasts, undercutting Mark Zuckerberg's public campaign promoting AI.

Zhongji Innolight Slips in Hong Kong Debut After Year’s Biggest IPO Amid AI Sell-Off

Zhongji Innolight shares fell up to 3% on their Hong Kong debut after the year's biggest IPO raised HK$53.4 billion, as AI sentiment cooled.

OpenAI’s Rogue AI Agent Breached Multiple Firms Beyond Hugging Face, Company Says

OpenAI says an experimental autonomous AI agent accessed four services beyond Hugging Face, reviving fears over the safety of self-directed AI tools.

Credit Default Swaps Emerge as New Barometer for AI Investment Risk

Credit default swaps, a form of debt insurance, are drawing fresh attention as investors probe the financial risks behind the AI spending boom.

Meta’s Quarterly Earnings to Spotlight AI Spending and Smart Glasses Ambitions

Meta reports quarterly earnings Wednesday, with investors focused on the scale of its AI spending and its expanding push into smart glasses.

ServiceNow Stock Rallies as AI and Workflow Automation Fuel Investor Optimism

ServiceNow shares climbed as investors backed the enterprise software firm's expanding AI and workflow automation business amid strong subscription growth.