OpenAI co-founder and President Greg Brockman revealed in court testimony a closer financial relationship with fellow co-founder and chief executive Sam Altman than had been previously disclosed. Brockman also stated that his ownership stake in the company is valued at nearly $30 billion, according to Reuters. This information came to light during Brockman's deposition conducted by an attorney...

The French luxury conglomerate Louis Vuitton Moët Hennessy (LVMH), led by billionaire Bernard Arnault, intends to place several of its fashion, cosmetics, and beverage labels on the market, according to the Financial Times. LVMH is also weighing the divestiture of its US-based holdings: the Marc Jacobs fashion label (a proposed $1 billion sale to Authentic Brands Group in 2025 did not...

Cerebras, an American AI startup looking to rival Nvidia, intends to secure up to $3.5 billion in an IPO on Nasdaq, as stated in its filing with the U.S. Securities and Exchange Commission (SEC). The firm intends to offer 28 million shares priced between $115 and $125 each. Should that occur, Cerebras' market capitalization might hit $26.6 billion, as reported by CNBC. In February, the...

Taiwan Semiconductor Manufacturing Company (TSMC), the world's largest contract chip manufacturer, has fully exited its stake in chipmaker Arm Holdings, Reuters reports, citing a company statement. TSMC Partners, a subsidiary, sold 1.11 million Arm shares on April 28-29 at a price of $207.65 per share. In total, it generated approximately $231 million from the sale. As a result of the...

The European Commission announced that it has given approval for the establishment of a joint venture between Airbus and Air France, in line with EU regulations. The EC press release indicates that this is a joint venture between Airbus SAS, which is controlled by Airbus SE ("Airbus") based in the Netherlands, and Société Air France, which is controlled by Air France-KLM S.A. ("Air France") based...

Bloomberg reports that Microsoft has forfeited its exclusive right to market artificial intelligence (AI) models created by OpenAI. The firms revealed a renegotiation of their contract, allowing ChatGPT, the creator of OpenAI, to form partnerships with Microsoft's rivals such as Amazon. Microsoft continues to be OpenAI's main cloud collaborator, with OpenAI products mainly being provided on...

Nuclear energy company X-Energy raised $1.02 billion through a US initial public offering, according to Bloomberg, which is reporting the news based on a statement from the company. X-Energy has offered 44.3 million shares at a price of $23 per share.  The price is higher than the originally stated range of $16 to $19.  According to Bloomberg's calculations, X-Energy's market...

Shareholders of Warner Bros. Discovery (WBD) strongly approved the $110 billion sale, including debt, of Paramount to Skydance Corp., according to Bloomberg. Paramount and WBD reached an agreement on the deal's terms at the end of February. WBD's board of directors advised shareholders to give their approval. According to the agreement, Paramount will owe WBD a $7 billion fine if regulators...

Chinese technology giants Tencent Holdings Ltd. and Alibaba Group Holding Ltd. are negotiating to invest in the AI startup DeepSeek, according to The Information. Sources for the publication indicate that the terms being discussed imply a valuation of DeepSeek greater than $20 billion. They say this is the first instance the startup will seek external funding. DeepSeek is owned by the Chinese...