xAI, the artificial intelligence company founded by Elon Musk, has finally revealed its first product to the world: a large language model (LLM) called Grok, named after the slang term that means “understanding”, according to VentureBeat. Grok is a chatbot that can answer almost any question, with a bit of wit and sarcasm, and even…
Priority One Logistics acquires Everything Goes Movers
SAN FRANCISCO: Priority One Logistics LLC has acquired “Everything Goes Movers”, a leading residential moving company in the San Francisco Bay area. This acquisition will allow Priority One Logistics LLC to enter the household services market and offer a wide range of solutions for clients who are relocating. Whether you are moving across the street…
Arm invests in Raspberry Pi to boost IoT development
Arm, the leading provider of processor technology, has announced that it is acquiring a minority stake in Raspberry Pi, the maker of low-cost, mini-computer boards. The deal aims to support the growth of Internet of Things (IoT) devices and applications, by giving more people and businesses access to affordable and powerful computing platforms. Raspberry Pi…
Sony acquires AI video company iSIZE to boost streaming quality
Sony Interactive Entertainment has announced that it has acquired iSIZE, a London-based company that specializes in AI applications for video processing and streaming. The deal is expected to enhance Sony’s streaming capabilities across its platforms, including PlayStation’s cloud gaming feature and the upcoming PlayStation Portal handheld device. iSIZE was founded in 2016 and has developed…
Klarna establishes British Holding Company as it advances toward stock market flotation
Klarna, the renowned ‘buy now, pay later’ financial powerhouse, is taking a significant stride in its journey toward a stock market flotation. Recent reports indicate that the company is in the process of setting up a new British holding entity. This move comes as Klarna works towards a potential valuation exceeding $15 billion (£12.1 billion),…
Berkshire Hathaway’s Q3 earnings soar to $10.8 billion, cash reserves reach $157 billion
Berkshire Hathaway, led by Warren Buffett, posted robust third-quarter operating earnings, reaching $10.8 billion, a remarkable 40.6% increase from the previous year’s $7.7 billion. The conglomerate reported a net loss of $12.8 billion, in contrast to last year’s $2.8 billion loss. The Omaha, Nebraska-based company attributed these losses to investment fluctuations, reporting a $23.5 billion…
Substrate AI to acquire 70% of parent companies of the BINIT Group
LONDON, UK: Substrate AI has agreed on the terms for the acquisition of 70% of the companies BINIT SRL and DELTANOVA SA, parent companies of the BINIT Group. The BINIT Group is a software development consultancy in Spain, the UK and Latin America. It has more than 100 employees in these markets and a consolidated…
Roebuck Food Group announces acquisition of Moorhead & McGavin Ltd
LONDON, UK: Roebuck Food Group plc (AIM: RFG), a company specializing in food and agribusiness growth and innovation, has announced a conditional agreement to acquire the entire issued share capital of Moorhead & McGavin Ltd, a food and food ingredient distribution business based in Motherwell, UK. The acquisition, subject to a completion accounts adjustment mechanism,…
Currys Plc announces €200 million sale of Kotsovolos to PPC
LONDON, UK: Currys plc has officially confirmed an agreement to sell Dixons South East Europe A.E.V.E., the company responsible for Currys’ retail operations in Greece and Cyprus under the name Kotsovolos, to Public Power Corporation S.A. (PPC) for an enterprise value of €200 million (£175 million). This sale comes after a strategic review announced in…
Regal Partners to acquire PM Capital, reaching $10.8 billion in group funds
SYDNEY, AUSTRALIA: Regal Partners (ASX:RPL) has announced its acquisition of PM Capital Limited, a renowned investment management company with a focus on global long/short equities and fixed income strategies. Founded by Chairman and Chief Investment Officer Paul Moore in 1998, PM Capital manages over $2.7 billion in funds under management as of September 30, 2023….
PagerDuty to acquire Jeli Inc for incident management and analysis
SAN FRANCISCO: PagerDuty, Inc. (PD), a global leader in digital operations management, announced today that it has agreed to buy Jeli, Inc., a company that provides incident analysis and learning solutions. The deal will enhance PagerDuty’s Operations Cloud, a platform that combines Incident Management, AIOps, Automation and Customer Service Operations. The acquisition will enable PagerDuty…
WWAC shareholders approve merger with Aeries Technology
NEW YORK: Worldwide Webb Acquisition Corp. (WWAC), a special purpose acquisition company, announced today that its shareholders voted overwhelmingly to approve its merger with Aeries Technology, a Singapore-based provider of cloud-based solutions for heavy oil applications. The deal values Aeries at about 3.7 times its EBITDA for the year ending September 30, 2023. The merger…