NEW YORK: Artificial intelligence startup Cursor said on Thursday it has raised $2.3 billion in a funding round that values the company at $29.3 billion, a near-tripling of its valuation since June, as investor appetite for AI coding tools remains strong. The funding round included major technology investors such as Accel, Thrive Capital, Andreessen…
BRISBANE – Australian cloud networking firm Megaport Limited (MP1.AX) said on Monday it has agreed to acquire compute provider Latitude.sh, a move aimed at creating a combined platform to tap into growing demand for artificial intelligence (AI) and hybrid cloud services. The acquisition, which is expected to close by Dec. 31, 2025, will merge…
LOS ALTOS — Majestic Labs, an AI startup founded by veteran chip designers from Meta and Google, emerged from stealth mode Tuesday after raising $100 million to develop technology it claims will drastically reduce the cost and scale of data centers needed for advanced artificial intelligence. The company, with dual headquarters in Los Altos,…
HELSINKI — Nokia announced Tuesday that chipmaker Nvidia is acquiring a $1 billion stake in the Finnish networking company, a move that sent Nokia’s shares soaring and marks the latest in a series of strategic partnerships for the artificial intelligence giant. Under the deal, Nokia will issue more than 166 million new shares to…
TAIPEI: Taiwan Semiconductor Manufacturing Company (TSMC) reported a 39.1% jump in third-quarter profit on Thursday, setting a new record as robust demand for artificial intelligence chips continued to drive growth. The world’s largest contract chipmaker posted net income of NT$452.3 billion ($14 billion), beating LSEG SmartEstimates of NT$417.69 billion. Revenue rose 30.3% year-over-year to…
ZURICH: Swiss technology leader ABB announced today it is accelerating the development of gigawatt-scale data centers in a collaboration with U.S. chipmaker NVIDIA, focusing on the advanced power solutions required for soaring artificial intelligence (AI) workloads. The partnership will center on creating high-efficiency, scalable power delivery systems, specifically supporting NVIDIA’s planned introduction of an 800…
SAN DIEGO: Chipmaking giant Qualcomm said Tuesday it is acquiring Arduino, a move aimed at embedding its technology with the tinkerers and startups who are building the next generation of robots and intelligent devices. Arduino, an Italy-based maker of inexpensive, programmable circuit boards, is a staple in university labs, hardware startups and hobbyist workshops…
SAN FRANCISCO: Factory Inc. announced Tuesday the release of Droids, a new class of AI software development agents, following the product’s top ranking on the Terminal Bench, a standard industry benchmark. The company also announced it has raised $50 million in a Series B funding round led by NEA and Sequoia Capital, with participation…
Nvidia Corp. (NVDA.O) said on Thursday it will invest $5 billion in Intel Corp. (INTC.O) and jointly develop chips for personal computers and data centers, a surprise move that sent Intel shares surging 22.8% to $30.57 — their best single-day gain since October 1987. The deal marks a strategic pivot for both companies, with…
NEW YORK: The S&P 500 climbed to a fresh intraday record Thursday as investors digested Nvidia’s latest earnings report, which reinforced enthusiasm for artificial intelligence and lifted sentiment across the broader market. The benchmark index rose 0.2%, while the tech-heavy Nasdaq Composite gained 0.5%. The Dow Jones Industrial Average hovered near the flatline. Nvidia,…
SAN FRANCISCO: Nvidia reported better-than-expected earnings and revenue on Wednesday, signaling to Wall Street that the demand for artificial intelligence infrastructure remains robust, despite a slowdown in its key data center segment. The company’s stock, which has seen a 35% increase this year after nearly tripling in 2024, slipped in extended trading after data…