US private equity firm General Atlantic is selling an equity stake in TikTok owner ByteDance, valuing the Chinese company at USD 550 billion, Reuters reported. The pending deal, which would set a new valuation record for ByteDance, was cited by two unnamed sources. Credit: BYTEDANCE This pending transaction confirms a previous report by the South China Morning Post, which stated ByteDance’s private market valuation had surged to USD 500 billion. That figure was an increase fr

Advanced Micro Devices, Inc., known as AMD, has agreed to a significant deal to supply artificial intelligence chips to Meta Platforms, Inc. The agreement is valued at up to USD 60 billion over five years. This pact allows Meta to purchase as much as 10% of the chip organisation.

OpenAI is strengthening its enterprise market presence through new partnerships with four leading consulting firms. This initiative aims to help corporate clients move beyond initial pilot projects to full-scale artificial intelligence deployments.

Nvidia is close to finalising a USD 30 billion investment in OpenAI. This new deal would replace a long-term USD 100 billion commitment agreed upon by the companies last year. Credit: UNSPLASH The investment would form part of a new funding round for the artificial intelligence start-up. The agreement could be finalised as early as this weekend. OpenAI, maker of ChatGPT, is aiming to raise up to USD 100 billion in its current funding round. This round would value the organisa

Chinese start-up Moonshot AI has added at least USD 700 million to its funding, aiming for a valuation of up to USD 12 billion. The company is known for its powerful Kimi artificial intelligence models.

Global electric vehicle registrations decreased 3% in January, according to data from consultancy Benchmark Mineral Intelligence. This decline was attributed to a new purchase tax and reduced electric vehicle subsidies in China, alongside policy adjustments in the United States.

Alphabet sold a rare 100-year bond as part of a USD 31.51 billion global bond raise. The financing will support artificial intelligence-driven spending, which has spurred significant borrowing among U.S. technology companies.

Reddit forecasts first-quarter revenue above analysts' estimates, driven by artificial intelligence-powered enhancements to its ad platform attracting more marketers. The company's shares rose 4% after-hours following Reddit's announcement of its inaugural share repurchase plan, valued at up to USD 1 billion.