META ACQUISITION
China blocks SoftBank's $5.4 billion acquisition of ABB Robotics
China has blocked SoftBank’s $5.4 billion acquisition of ABB’s robotics business, disrupting the Japanese group’s AI-powered robotics expansion. The intervention highlights Beijing’s growing scrutiny of cross-border deals involving strategically important technologies.
AMD forecasts fourth-quarter revenue above estimates on strong AI chip demand
Advanced Micro Devices estimates its fourth-quarter revenue will hit about $17 billion, driven primarily by robust demand for AI chips. Although the company's forecast for adjusted gross margin stands at 55%, it falls slightly short of analyst expectations. A remarkable 97% year-on-year increase in data-centre revenue showcases AMD's growth. However, the company currently faces challenges in sourcing high-bandwidth memory, essential for its AI processors.
SaaS firm Capillary’s AI platform drives new customer wins, revenue grows 51%
Capillary’s aiRA (AI-powered Research Assistant) is an AI agent for enterprise brands that helps connect customer data across platforms and identifies opportunities to acquire, convert, retain and reactivate customers. It also executes campaigns through existing marketing tools, with human approval. It works with data from platforms such as Salesforce, Snowflake, Databricks, Google Ads and Meta, according to the investor presentation.
Dashverse shuts DashReels, seeks $40 million for AI push
The Bengaluru and San Franciscobased startup is pitching its businessto-business software platform, Frameo AI, to prospective investors as it moves away from acquiring and monetising viewers through its own app. The proposed fundraise is at an early stage, the people said.
China's new export curbs draw a line around its AI crown jewels
The draft rules, released on October 16, distinguish between foreign customers using Chinese AI services and foreign companies obtaining the models, data or expertise needed to operate or reproduce them independently.
AI giants' funding ambitions test Wall Street's appetite for risk
The heavyweights of the AI industry are facing a reckoning on Wall Street, reflecting concerns over who will bear the cost of the artificial intelligence buildout that has fueled much of this year's stock market gains.
China's new export curbs draw a line around its AI crown jewels
The draft rules, released on October 16, distinguish between foreign customers using Chinese AI services and foreign companies obtaining the models, data or expertise needed to operate or reproduce them independently.
Meta eyes record $95 billion equity raise to fund AI expansion
The Facebook parent has launched public offerings worth about $35 billion in common and preferred stock, and said it also plans to launch a separate at-the-market share sale program worth up to $60 billion.
Meta to create non-voting shares to fund AI expansion, retain Zuckerberg’s control
Meta Platforms plans to introduce publicly traded non-voting Class C shares to fund AI investments, acquisitions and employee compensation while preserving Mark Zuckerberg’s voting control. The proposed one-for-one share distribution is expected to begin trading in January 2027.
Meet Mahmoud Felfel and Hammad Syed, two Egyptian founders who built a text-to-speech tool; their voice AI startup was later acquired by Meta
Mahmoud Felfel and Hammad Syed are the founders of PlayAI. Both of them Egyptian entrepreneurs who had previously worked at Dubai-based classifieds platform Dubizzle. The idea for starting the company came when they got frustrated by limited access to regional content in audio formats. The aim was to make written content more available through speech technology.
Explained: Why is Meta creating a new class of non-voting shares amid its AI growth?
Meta plans to create a new class of publicly traded non-voting stock, known as Class C shares, and distribute one Class C share for each existing Class A and Class B share - effectively splitting its stock two-for-one. The new shares are expected to begin trading in January 2027.
Mark Zuckerberg, worth $240 billion, threatens to leave California over 5% billionaire tax as Meta creates new Class C shares to keep him in state
Mark Zuckerberg has threatened to leave California if the state introduces a proposed 5% billionaire wealth tax. In response, Meta has approved a new class of nonvoting Class C shares that would allow the Facebook co-founder to raise money to pay a potential tax bill without losing control of the company. The new stock arrangement also comes with an eight-year commitment from Zuckerberg to remain a California resident.
Meta’s bigger budget, Tesla’s smaller one leave Wall Street uneasy
Investors question how Meta will fund its AI push and whether Tesla’s smaller budget can deliver Musk’s ambitions.
Mark Zuckerberg makes deal with Meta to help him pay billionaire tax if it passes
Mark Zuckerberg has made a deal to manage potential tax liabilities from a proposed wealth tax in California. The tax would impose a one-time 5 percent charge on billionaires' net worth. Zuckerberg's agreement allows him to maintain ownership of Meta while selling non-voting shares to finance his tax obligations. Proponents argue the tax ensures the rich contribute fairly to state revenues.
Meta stock price: Why are Meta shares down today? Facebook, Instagram parent may witness USD 50 billion wipe out from company's market value despite strong quarterly revenue
Meta share price: Facebook, Instagram parent is spending heavily to support its AI plans, with an expected annual capital expenditure forecast between $135 billion and $145 billion.
Meta falls as investors balance Muse growth with rising AI costs
Shares of Meta Platforms fell about 3% in premarket trading on Thursday, as investors weighed the benefits of the company's fast-growing AI agent business against the mounting costs of funding its ambitious AI expansion.
Meta falls as investors balance Muse growth with rising AI costs
Shares of Meta Platforms declined in premarket trading as investors evaluated costs against growth in the AI sector and faced legal hurdles. Despite reporting higher-than-expected quarterly revenue, the company is under pressure from a $25 billion data-privacy ruling. Meta's aggressive investment in AI includes a forecasted annual capital expenditure of up to $145 billion. A significant free cash flow deficit also reflects the costs incurred in its expansion strategy.
Meta strikes deal to keep Mark Zuckerberg in California after wealth tax concerns
By Carlos Me- Meta Platforms has struck a deal with Mark Zuckerberg to keep him living in California after the CEO warned he was considering leaving the state that houses the
Meta stock: Facebook, Instagram parent stock price rises after tech giant announces new types of shares. All you may want to know
Meta posted diluted earnings per share of $3.83 in the quarter, a figure that would have been $7.40, had it not been for a $9.89 billion charge related to the August settlement.
Load More
