Chinese tech giant posted revenue of 184.504 billion yuan ($25.7 billion) for the quarter SHENZHEN: Tencent Holdings Ltd. on Wednesday reported a 15% rise in second-quarter revenue, driven by robust growth in its gaming division and strategic investments in artificial intelligence. The Chinese tech giant posted revenue of 184.504 billion yuan ($25.7 billion) for the…
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Atlantic American Corp swings to profit in Q2 2025 on premium growth, equity gains
The insurance holding company posted net income of $4.1 million ATLANTA: Atlantic American Corporation (Nasdaq: AAME) reported net income of $3.3 million, or $0.15 per diluted share, for the second quarter ended June 30, 2025, reversing a net loss of $0.7 million, or $0.04 per diluted share, in the same period last year. For the…
Evertune raises $15 million to help brands optimize for AI-powered search
SAN FRANCISCO: Evertune, a platform specializing in Generative Engine Optimization (GEO) and AI marketing, announced today that it has raised $15 million in a Series A funding round led by Felicis Ventures. The company plans to use the new capital to expand its platform, which helps brands measure and optimize their presence in AI-generated content…
Perplexity AI makes $34.5 billion unsolicited bid for Google Chrome amid antitrust fallout
SAN FRANCISCO: Perplexity AI has made an unsolicited $34.5 billion bid for Google’s Chrome browser, CNBC confirmed Tuesday, marking a bold move amid intensifying competition in the generative AI space. The offer exceeds Perplexity’s most recent valuation of $18 billion, set in July, and nearly doubles its earlier $14 billion valuation. The company said several…
BigBear.ai reports Q2 loss, eyes growth from homeland security bill and UAE partnership
The company posted a net loss of $228.6 million, compared to $14.4 million in the same period last year COLUMBIA: BigBear.ai Holdings, Inc. (NYSE: BBAI), a provider of AI-powered decision intelligence solutions, reported a widened net loss for the second quarter of 2025, citing federal contract disruptions and strategic investments tied to emerging opportunities in…
Aris Water Solutions reports strong second quarter performance ahead of acquisition
For three months, Aris reported a 9% increase in Adjusted EBITDA to $54.6 million HOUSTON: Aris Water Solutions Inc. announced a strong second quarter on Tuesday, posting a net income of $14.1 million and setting a new record for produced water handling volumes. The company’s performance comes ahead of a planned acquisition by Western Midstream…
Magnachip CEO steps down amid strategic overhaul; Camillo Martino named interim chief
SEOUL: Magnachip Semiconductor Corporation (NYSE: MX) announced Monday that CEO YJ Kim has stepped down from his role and from the Board of Directors, effective immediately. Camillo Martino, Chairman of the Board, has been appointed Interim Chief Executive Officer. The leadership change comes as Magnachip undergoes a strategic transformation to become a pure-play power semiconductor…
Pennington Creek Capital acquires majority stake in Rite in the Rain
DALLAS: Pennington Creek Capital, LLC, a Dallas-based private equity firm wholly owned by the Chickasaw Nation, announced Tuesday a majority equity investment in Rite in the Rain, a Tacoma, Washington-based manufacturer of water-resistant writing and field gear. “This investment in Rite in the Rain represents an important step in our business diversification,” said Chickasaw Nation…
Datasite acquires Blueflame AI
MINNEAPOLIS: Datasite, a global SaaS provider of AI-powered workflow collaboration and automation solutions for mergers and acquisitions (M&A), investment, and strategic projects, has acquired Blueflame AI, a leading developer of agentic AI solutions for financial services. Terms of the transaction were not disclosed. The acquisition marks a strategic move by Datasite to deepen its capabilities…
Ford to invest $2 billion in Kentucky plant for affordable EVs
LOUISVILLE: Ford Motor Co. said Monday it will invest $2 billion in its Louisville Assembly Plant to accelerate production of affordable electric vehicles, marking a major step in the automaker’s push to expand its EV lineup. The Detroit-based company plans to build a midsize, four-door electric pickup at the Kentucky facility, with production expected to…
Xpand raises $6 million to launch AI-powered autonomous retail stores
TEL AVIV: Xpand, a retail technology startup developing autonomous, AI-powered stores, announced Monday it has raised $6 million in a funding round led by Ibex Investors and Emerge. The company’s executive team, including Chairman and CEO Joel Bar-El, also participated, underscoring internal confidence in its strategic direction. “Our mission is to power the next generation…
Datasite acquires Sourcescrub to expand AI-powered M&A platform
MINNEAPOLIS: Datasite, a global software-as-a-service provider specializing in artificial intelligence-powered solutions for mergers and acquisitions, announced today it has acquired Sourcescrub, a California-based provider of deal-sourcing data and workflows. The acquisition from Francisco Partners is the latest move in Datasite’s strategy to enhance its offerings for M&A professionals. The Sourcescrub acquisition follows a $500 million…