Tag: Internet Media and Services

The Beijing-based company has budgeted Rmb40bn ($5.5bn) to acquire AI chips in China in 2025, according to two people familiar with the plans, which would double the amount it spent last year. The group also plans to invest about $6.8bn overseas to beef up its foundation model training capabilities using advanced Nvidia chips.

OpenAI CEO Sam Altman, SoftBank CEO Masayoshi Son, and Oracle Chairman and CTO Larry Ellison joined President Trump to announce an investment of as much as $500 billion in artificial intelligence infrastructure in the U.S.

Meta Platforms Inc. is cutting roughly 5% of its staff through performance-based terminations and plans to hire new people to fill their roles this year, according to an internal memo sent to all employees.

Ocado Group said revenue from Ocado Retail its joint venture co-owned with Marks & Spencer Group grew sharply, driven by improved volumes and a record Christmas performance.

The Chinese government is considering a plan that would have Elon Musk acquire TikTok’s U.S. operations to keep the app from being effectively banned, Bloomberg News reported Monday.

Meta Platforms Inc. offered to publish listings from classified ads rival eBay Inc. on Facebook Marketplace in an effort to comply with a landmark European Union antitrust order that was accompanied by a €798 million ($822 million) fine.

Delta Air Lines will link its lucrative SkyMiles loyalty program to Uber this spring, the companies announced Tuesday, as the airline ends its eight-year partnership with smaller ride-hailing rival Lyft.

Getty Images stock skyrocketed in premarket trading Tuesday after the company said it plans to merge with rival stock photography service Shuttershock.

Taiwan has blocked Uber Technologies’  planned $950 million takeover of Foodpanda’s local delivery business on anticompetition concerns, thwarting the U.S. company’s efforts to expand in Asia.

Dutch technology investor Prosus NV said on Monday it would buy Latin America-focused online travel agency Despegar.com Corp for about $1.7 billion in cash, as it looks to expand its services across Latin America.

The US Supreme Court on Wednesday said it will hear TikTok’s appeal against a divest-or-ban law that will determine the video app’s fate in the US.

Facebook owner Meta Platforms will face a trial in October 2025 in Spain over a 551 million euro ($582 million)complaint lodged by more than 80 media companies accusing it of unfair competition in advertising, a Madrid court said on Friday.

U.S. regulators want a federal judge to break up Google to prevent the company from continuing to squash competition through its dominant search engine after a court found it had maintained an abusive monopoly over the past decade.

Audio-streaming giant Spotify forecast fourth-quarter profit above Wall Street estimates on Tuesday, betting on cost cuts and strong subscriber growth in the crucial holiday season.

Airbnb reported third-quarter earnings on Thursday that were shy of analyst estimates, though it squeaked in a small revenue beat. The stock fell about 3% in after-hours trading.

On Thursday, Evercore ISI updated its outlook on Booking Holdings stock, increasing the price target to $5,300 from the previous $4,200 while maintaining an Outperform rating. The revision follows Booking Holdings’ third-quarter earnings, which exceeded expectations and prompted the firm to adjust its financial projections upward.

Meta Platforms reported better-than-expected earnings results on Wednesday but forecast rising infrastructure expenses next year. Its shares fell in after-hours trading.

Alphabet reported third-quarter earnings and revenue that beat Wall Street estimates, sending the stock higher.

Tech group signs deal with Kairos Power to build up to 7 small facilities to meet its energy needs

The Department of Justice late Tuesday made recommendations for Google’s search engine business practices, indicating that it was considering a possible breakup of the tech giant as an antitrust remedy.