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 …
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 y…
Nik Storonsky wants a bigger slice of Revolut, and he has picked an ambitious price. The cofounder and chief executive is in talks over a new share award, the Financial Times reported. It would grow his stake if the fintech reaches a $500 billion valua…
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…
SpaceX has reported its first earnings as a public company, and the biggest number was not the one about rockets. The company that launches most of the world’s payloads made more money selling AI compute and satellite internet than it did from space. R…
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, Battlefiel…
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 ta…
Apple has crossed $10bn in annual sales in India for the first time. The milestone says as much about where the company is heading as where it has been. Revenue for the year to March topped $10bn, Bloomberg reported. That is up from about $9bn a year e…
Snap had a good quarter, and the market treated it like a rescue. The shares jumped after hours, up as much as 13%, once the company beat estimates. The catch is where that rally begins: a stock near its all-time lows, down about 37% this year. The hea…
Spotify gave investors a number they did not love. The streaming company guided to third-quarter operating income of €670m, just short of the €678m Wall Street had pencilled in, and the stock has already had a rough year. Spotify is also fighting on ne…