Latest Corporate News News
Tesla Plans $25 Billion Spending Boost for AI and Robots
Tesla announced plans to spend an additional $25 billion this year to fuel Elon Musk's AI ambitions and robotaxi development. This escalation supports advanced manufacturing and AI infrastructure. Intel shares jumped after pledging support for Musk's Terafab chip project.
Meta to Cut 10% of Workforce Amid AI Investments
Meta plans to eliminate 10% of its staff, around 8,000 jobs, as it heavily invests in AI technologies. An internal memo outlines cuts including 6,000 open roles to streamline operations. Microsoft is also planning similar workforce reductions to offset AI spending.
Intel Shares Soar on AI Chip Deal with Musk
Intel's stock surged after forecasting gains from AI build-out and supporting Elon Musk's advanced chip manufacturing project, Terafab. The company is cashing in on massive AI infrastructure demands. This comes amid broader tech sector AI spending frenzy.
Microsoft Plans Layoffs to Fund AI Expansion
Microsoft is set to trim its workforce, potentially affecting thousands, as it redirects resources to heavy AI investments. Combined with Meta's cuts, this could impact up to 23,000 tech jobs. The moves aim to streamline operations amid rising AI costs.
Lyft Acquires London Black Cab App Gett for Global Growth
Lyft's CEO David Risher outlined international expansion via the acquisition of Gett, the London black cab app. This bolsters Lyft's presence in key markets beyond the US. The deal supports the ride-hailing firm's aggressive growth strategy.
Elon Musk and Sam Altman Trial Looms Over OpenAI Dispute
Elon Musk and Sam Altman are set to face off in court next week over allegations that Altman betrayed OpenAI's original mission. The high-profile case highlights tensions in AI development. It underscores ongoing battles in the AI industry.
China's Xpeng to Deliver Flying Cars Starting 2027
Xpeng expects to begin deliveries of its 'flying' cars in 2027, advancing eVTOL technology. This positions the Chinese EV maker in the emerging air mobility sector. The announcement reflects rapid innovation in China's auto industry.
Samsung Workers Demand Higher Bonuses, Threaten Strike
Samsung employees in South Korea rallied for higher bonuses and are threatening strike action. Labor tensions rise amid the company's performance pressures. This could disrupt production in the key semiconductor hub.
Aliko Dangote Pledges Major Oil Refinery in East Africa
Nigerian billionaire Aliko Dangote vowed to build a Nigeria-style oil refinery in East Africa. The project aims to boost regional refining capacity and energy independence. It follows his success with Africa's largest refinery.
Meta and Microsoft Layoffs Signal Tech Sector Restructuring
Meta and Microsoft are cutting thousands of jobs to offset surging AI expenditures and streamline operations. Meta's cuts target 8,000 roles while Microsoft follows suit. This reflects broader tech shifts toward AI prioritization.
SpaceX Expands Role in Musk's Golden Dome Project
Elon Musk's SpaceX is taking a bigger role in the Golden Dome initiative, likely tied to defense or satellite tech. This aligns with Musk's growing involvement in strategic projects. Details emerge amid Tesla's AI spending surge.