Adobe’s stock gains as its AI investments start bearing fruit
Adobe Inc.’s shares made gains in late trading today after the Photoshop maker delivered third-quarter financial results that surpassed Wall...
archiveMike Wheatley
Intel to lay off almost a third of its staff and scale back foundry investments
Intel Corp. said today it’s going to shrink its workforce by almost a third by the end of the year,...
Intel to lay off 15% more staff by year-end and scale back foundry investments
Intel Corp. said today it’s going to shrink its workforce by an additional 15% by the end of the year,...
Elon Musk’s xAI launches $5B debt sale to fuel AI infrastructure investments
XAI Corp., the artificial intelligence startup founded by Elon Musk, is arranging a $5 billion debt sale that will help the company to keep up its lavish spending on data center infrastructure as it strives to keep pace with rivals such as OpenAI and Google LLC. The debt sale was first reported today by Bloomberg, which cited anonymous sources as saying that Morgan Stanley is marketing the deal. It came as the Financial Times separately reported today that Musk is looking to sell $300 million of xAI’s shares in a...