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Tencent is in talks to become Manus' largest shareholder as investors seek alternatives after Beijing ordered Meta to unwind its $2 billion acquisition of the AI start-up, the Financial Times reported on Thursday, citing two sources. (Reporting by Preetika Parashuraman in Bengaluru; Editing by Sherry Jacob-Phillips)
Tencent is in talks to become the largest shareholder of Manus as investors race to unwind Meta’s $2bn acquisition of the AI agent start-up after...
META is now down just 4.2% YTD, after shedding 14.5% in H1.
Asset manager and investment consultant Russell Investments announced Thursday that it is changing hands. A consortium of investors led by B Capital, a venture capital firm co-led by Facebook co-founder Eduardo Saverin, will acquire the Seattle-based business from its current owners, TA Associates and Reverence Capital Partners, according to a statement. The consortium of buyers includes the California Public Employees’ Retirement System. Russell Investments, which has over $416 billion in AUM,
<body><p>STORY: :: A memo seen by Reuters shows that Meta plans to produce AI chips this September </p><p>:: The move will likely help Meta gain more independence from chip suppliers such as Nvidia</p><p>:: Katie Paul, Tech Correspondent</p><p>:: Meta / Archive</p><p>"In the world of AI, those who control their infrastructure and their compute costs really control their destiny. Meta has been at this a while. They want to have more control over their supply chain. Doing a chip helps them to get that cost of running compute down. If they buy a lot of chips from Nvidia and AMD, those are extremely expensive. It means that other companies are in the driver's seat, both in terms of cost and some control over the supply. And having some kind of chip that can help maximize efficiency of running compute, or running processes, helps them, puts them in the driver's seat more and it helps them control their costs. They're also trying to build out these brand-new business models to effectively compete with OpenAI and Anthropic. So, selling the AI models to developers to use, and that means rolling out an API, which they just did this morning. This is brand new for them. They're moving this direction for the first time after kind of embracing the open source ethos for a number of years. And so that means that they need to, try to compete on price with those other, players in the market and also keep their costs low enough that they can, you know, make this business model make sense. And so having a chip that can help them to run these processes in a way that is as cost-efficient as possible is a huge potential benefit for them."</p><p>The tech firm's data center chip, code-named "Iris," is part of a four-generation project for Meta Training and Inference Accelerators (MTIA) that it will design in-house. The plan is to use custom-built silicon to improve the AI that powers its Facebook and Instagram social media platforms.</p><p>Testing the chip took only six weeks and found no major issues, the memo showed. That relatively quick progress signals positive momentum for an in-house effort that has floundered since its launch more than half a decade ago.</p><p>Meta tailored the chip for its own needs and is working with Broadcom to help design it and Taiwan Semiconductor Manufacturing Co to manufacture it. The approach is likely to help the firm lower its massive computing costs and gain more independence from chip suppliers such as Nvidia and Advanced Micro Devices.</p></body>
Forget the AI benchmark battles. Here's why Alphabet's unmatched distribution could make it the better long-term AI investment over Meta.
Venture capitalist Chamath Palihapitiya believes Meta Platforms Inc. and its CEO Mark Zuckerberg have “completely fumbled” the artificial intelligence race, squandering a historic opportunity to become the world’s undisputed champion of open-source AI. Profound Failure Speaking with Axios, the early...
Coinbase and Grayscale both lose a top executive as Paul Grewal and Edward McGee step down, with internal successors named.
Every new computing platform takes something from you in exchange for convenience. The personal computer took your desk, and the smartphone took your attention. Whatever comes next will ask for even more, and the company that builds it gets to decide exactly how much. Meta Platforms (META) has ...
By Stephen Culp NEW YORK, July 9 (Reuters) - A microchip rebound on Thursday helped investors look past roiling Middle East tensions and the potential of renewed hostilities fueling longer-term
The Muse Spark 1.1 model is priced at $1.25 per million input tokens and $4.25 per million output tokens, with $20 in free credits to start
Dividends are one way for profitable companies to reward their shareholders, while also signaling financial strength and confidence in their future cash flow. Tech stocks, however, have traditionally prioritized stock buybacks over dividends as a way to reinvest excess cash and return value to ...
Investing.com -- Following a year of radical restructuring and aggressive capital deployment, Meta Superintelligence (MSL) is positioned to leapfrog Google in the frontier AI hierarchy within the next six months. According to a new report from boutique research firm SemiAnalysis, Mark Zuckerberg's relentless pursuit of proprietary data, elite talent, and unprecedented compute infrastructure has effectively transformed the ecosystem into a race where Google has "faded dramatically". While competi
Bank of America (BAC) predicts that the US could face a major electricity shortage between 2026 and 2030. Yahoo Finance Breaking Business News Reporter Jake Conley breaks down the details.
Niles Investment Management founder and portfolio manager Dan Niles comes on Market Domination to explain why he believes AI is hitting a "speed bump," especially as companies pull back from tokenmaxxing practices and attempt to cut back on artificial intelligence costs.
New model targets agents, coding and multimodal tasks
The Paris-based ElevenLabs competitor, just announced a hefty seed extension round.
Meta Launches Huge AI Infrastructure Bet With $9 Billion Canada Buildout
All three major indexes are marching higher, following the Nasdaq’s lead. The tech heavy Nasdaq is up nearly 1.2%, followed by the S&P 500, up 0.8%. The Dow is up 196 points, or 0.4%. Broad participation is supporting the move higher, with the majority of Nasdaq and the S&P 500 components in the green.
NVIDIA (NASDAQ:NVDA), Palantir (NASDAQ:PLTR), and Advanced Micro Devices (NASDAQ:AMD) are the three names that defined this AI cycle. AMD is up 141.6% YTD. NVIDIA is up 9.58%. Palantir has actually fallen 25.61%. The setup is unusual, and I think it creates asymmetric upside into 2028. Below is the math for how NVDA hits $300, PLTR ... Up Massive YTD: Here Are Nvidia, Palantir & AMD’s Price Predictions For 2028
Meta also wants to double its overall computing capacity to 14 gigawatts in 2027, Reuters reports. It may signal a big new business line.
Meta Platforms Inc. (NASDAQ:META) is one of the top stocks to buy according to Whale Rock Capital Management. On June 30, Reuters reported that a federal judge in Oakland, California, rejected Meta Platforms Inc.’s (NASDAQ:META) attempt to dismiss a lawsuit filed by dozens of US state attorneys general, who accuse the company of intentionally designing […]
Sandisk (NasdaqGS:SNDK) has entered a multi-year NAND flash memory supply agreement with Meta Platforms. The deal names Sandisk as a key supplier for Meta’s planned AI computing infrastructure build-out from 2026 onward. The agreement links a portion of Sandisk’s future NAND demand to one of the largest global technology companies. For investors watching Sandisk, this new agreement with Meta comes after a sharp share price move and sets a fresh reference point for expectations. The stock...
During an interview with CNBC, Rasgon said that the current state of the AI industry is fueling growing demand for AI chips, wafers, and tools.
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