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Musk's xAI Burns Through $1 Billion A Month As Costs Pile Up
Elon Musk's artificial intelligence startup xAI is burning through $1 billion a month as the cost of building its advanced AI models races ahead of the limited revenues.
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19 US Employees Become Millionaires After CEO Sells Company Stake For $1 Billion
Bill Phelps, the CEO of Dave's Hot Chicken and former CEO and co-founder of Wetzel's Pretzels, recently revealed that he turned 19 of his employees into millionaires after selling a majority stake to a private equity firm for close to $1 billion.
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Hyundai, Kia Sell Stake in Ola Electric, Exacerbating Share Slump
South Korean automakers Hyundai Motor and Kia sold about 136 million shares in Ola Electric Mobility on Tuesday. While Hyundai offloaded 108.8 million shares at an average price of 50.7 rupees (59 cents), Kia sold 27.17 million shares at 50.55 rupees a share. Ola Electric shares fall after 3.3 percent of equity traded in blocks.
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Now Is The Time To Invest In India's Long-Term Outlook Growth Story: Morgan Stanley
Global brokerage Morgan Stanley has reaffirmed its positive long-term outlook on Indian equities, highlighting that India is likely to outperform in a global bear market scenario.
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IPL Franchise Gujarat Titans Get New Owners, Majority Shares To Be Sold To...
While the valuation of the stake being sold by CVC remains unconfirmed, the global private equity firm had invested Rs 5,625 crore to acquire the Titans in 2021.
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Rs 100 Invested In 1990 Would Yield Rs 9,500 In 2024: Report
Indian equity returns beat US markets, Rs 100 invested in 1990 would have become Rs 9500 in India while in the US it would have been only Rs 8400, according to a report by Motilal Oswal.
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Apple to Invest Up to $1.5 Billion in Globalstar for Satellite Coverage Expansion
Apple is set to invest as much as $1.5 billion in Globalstar, as the iPhone maker looks to enhance the satellite communication services available on its smartphones. The agreement includes a $1.1 billion cash investment by Apple, along with a $400 million purchase for a 20% equity stake in Globalstar. The satellite firm plans to allocate some of th...
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India To Soon Top China Among Emerging Global Markets: Morgan Stanley
India is likely to soon overtake China as the most influential in a key emerging markets index, pulling in more foreign funds and adding fuel to a stock market rally that is "only past the halfway mark", Morgan Stanley said.
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Lured By Returns On Equity Investment, Thane Man Loses Rs 46 Lakh
A 65-year-old man from Thane city lost about Rs 46 lakh after allegedly being lured with handsome returns on equity investments, an official said on Thursday.
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Man Discovers Grandfather's SBI Shares Worth Rs 500 Bought In 1994, It Now Stands At...
A Chandigarh doctor discovered that his grandfather had bought SBI (State Bank of India) shares worth Rs. 500 in 1994.
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Global Money Flocks To India As PM Modi Hobnobs With Elon Musk, Ray Dalio
Prime Minister Narendra Modi's trip to the US couldn't have come at a better time. A buzzing economy, equity benchmarks at record highs and a rapidly growing consumer market all make for a great advertisement as he pitches the country's potential to
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PhonePe Raises $200 Million Investment From Walmart in Its Ongoing Fundraise
Indian digital payments firm PhonePe said on Friday it has raised $200 million (nearly Rs. 1,650 crore) from majority backer Walmart at a pre-money valuation of $12 billion (nearly Rs. 99,000 crore). PhonePe, already India's most valuable payments firm and among the country's most highly-valued startups, said the investment is part of its ongoing ...
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US Billionaire Thomas Lee Dies By Suicide In Office
Thomas Lee, a pioneer of private equity investment and leveraged buyouts, died by suicide at the age of 78 at his Manhattan office on Thursday.
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FTX Customers Sue Financial Firms That Found Crypto Exchange ‘Safe and Secure’
Former customers of FTX crypto exchange have sued three venture capital and private equity firms, accusing them in a proposed class action of fraudulently promoting the cryptocurrency exchange before it went bankrupt. According to a complaint filed late Tuesday in San Francisco federal court, Sequoia Capital, Thoma Bravo and Paradigm were "incentiv...
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Unisoc Said to Seek CNY 10 Billion Funding as China Boots Domestic Chip Sector
Unisoc (Shanghai) Technologies is seeking to raise CNY 10 billion (INR conversion) in a new funding round, three people with knowledge of the deal told Reuters. Unisoc has approached several state-backed investment funds for the round. The fundraising comes as China ramps up efforts to boost its domestic chip sector.
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Musk's xAI Burns Through $1 Billion A Month As Costs Pile Up
Elon Musk's artificial intelligence startup xAI is burning through $1 billion a month as the cost of building its advanced AI models races ahead of the limited revenues.
-
19 US Employees Become Millionaires After CEO Sells Company Stake For $1 Billion
Bill Phelps, the CEO of Dave's Hot Chicken and former CEO and co-founder of Wetzel's Pretzels, recently revealed that he turned 19 of his employees into millionaires after selling a majority stake to a private equity firm for close to $1 billion.
-
Hyundai, Kia Sell Stake in Ola Electric, Exacerbating Share Slump
South Korean automakers Hyundai Motor and Kia sold about 136 million shares in Ola Electric Mobility on Tuesday. While Hyundai offloaded 108.8 million shares at an average price of 50.7 rupees (59 cents), Kia sold 27.17 million shares at 50.55 rupees a share. Ola Electric shares fall after 3.3 percent of equity traded in blocks.
-
Now Is The Time To Invest In India's Long-Term Outlook Growth Story: Morgan Stanley
Global brokerage Morgan Stanley has reaffirmed its positive long-term outlook on Indian equities, highlighting that India is likely to outperform in a global bear market scenario.
-
IPL Franchise Gujarat Titans Get New Owners, Majority Shares To Be Sold To...
While the valuation of the stake being sold by CVC remains unconfirmed, the global private equity firm had invested Rs 5,625 crore to acquire the Titans in 2021.
-
Rs 100 Invested In 1990 Would Yield Rs 9,500 In 2024: Report
Indian equity returns beat US markets, Rs 100 invested in 1990 would have become Rs 9500 in India while in the US it would have been only Rs 8400, according to a report by Motilal Oswal.
-
Apple to Invest Up to $1.5 Billion in Globalstar for Satellite Coverage Expansion
Apple is set to invest as much as $1.5 billion in Globalstar, as the iPhone maker looks to enhance the satellite communication services available on its smartphones. The agreement includes a $1.1 billion cash investment by Apple, along with a $400 million purchase for a 20% equity stake in Globalstar. The satellite firm plans to allocate some of th...
-
India To Soon Top China Among Emerging Global Markets: Morgan Stanley
India is likely to soon overtake China as the most influential in a key emerging markets index, pulling in more foreign funds and adding fuel to a stock market rally that is "only past the halfway mark", Morgan Stanley said.
-
Lured By Returns On Equity Investment, Thane Man Loses Rs 46 Lakh
A 65-year-old man from Thane city lost about Rs 46 lakh after allegedly being lured with handsome returns on equity investments, an official said on Thursday.
-
Man Discovers Grandfather's SBI Shares Worth Rs 500 Bought In 1994, It Now Stands At...
A Chandigarh doctor discovered that his grandfather had bought SBI (State Bank of India) shares worth Rs. 500 in 1994.
-
Global Money Flocks To India As PM Modi Hobnobs With Elon Musk, Ray Dalio
Prime Minister Narendra Modi's trip to the US couldn't have come at a better time. A buzzing economy, equity benchmarks at record highs and a rapidly growing consumer market all make for a great advertisement as he pitches the country's potential to
-
PhonePe Raises $200 Million Investment From Walmart in Its Ongoing Fundraise
Indian digital payments firm PhonePe said on Friday it has raised $200 million (nearly Rs. 1,650 crore) from majority backer Walmart at a pre-money valuation of $12 billion (nearly Rs. 99,000 crore). PhonePe, already India's most valuable payments firm and among the country's most highly-valued startups, said the investment is part of its ongoing ...
-
US Billionaire Thomas Lee Dies By Suicide In Office
Thomas Lee, a pioneer of private equity investment and leveraged buyouts, died by suicide at the age of 78 at his Manhattan office on Thursday.
-
FTX Customers Sue Financial Firms That Found Crypto Exchange ‘Safe and Secure’
Former customers of FTX crypto exchange have sued three venture capital and private equity firms, accusing them in a proposed class action of fraudulently promoting the cryptocurrency exchange before it went bankrupt. According to a complaint filed late Tuesday in San Francisco federal court, Sequoia Capital, Thoma Bravo and Paradigm were "incentiv...
-
Unisoc Said to Seek CNY 10 Billion Funding as China Boots Domestic Chip Sector
Unisoc (Shanghai) Technologies is seeking to raise CNY 10 billion (INR conversion) in a new funding round, three people with knowledge of the deal told Reuters. Unisoc has approached several state-backed investment funds for the round. The fundraising comes as China ramps up efforts to boost its domestic chip sector.
