Author: Press Room
OpenAI is in talks to raise a funding round that would value the artificial intelligence startup at more than $100 billion, CNBC has learned.Thrive Capital is leading the round and will invest $1 billion, according to a source with knowledge of the matter who asked not to be named because the details are confidential.Earlier this year, OpenAI was valued at a reported $80 billion from $29 billion the prior year. Annualized revenue reportedly surpassed $2 billion earlier this year. Growth took off in late 2022 after the company launched its ChatGPT chatbot and has continued as it rolled out products…
Salesforce shares rose 3% in extended trading on Wednesday after the business software maker reported robust fiscal second-quarter results that beat estimates and raised its full-year profit outlook.The company also said Amy Weaver, its finance chief, will step down. She will remain at the company as the CFO until a successor is appointed and, after that, will stay on as an advisor.Here is how the company did compared to LSEG consensus:Earnings per share: $2.56 adjusted vs. $2.36 expectedRevenue: $9.33 billion vs. $9.23 billion expectedThe company’s revenue grew 8% year over year during the quarter, which ended on July 31, according…
The Nvidia success rocket just keeps shooting upwards. The AI chipmaker, whose stock has helped power the market’s feverish rally this year, once again exceeded Wall Street’s expectations when it reported earnings for its fiscal second quarter on Wednesday. Nvidia reported sales of more than $30 billion in its fiscal second quarter, up 122% from the same period a year ago, and ahead of the $28.7 billion Wall Street analysts had expected. Profits from the quarter also more than doubled to $16.6 billion, up from the $15 billion analyst projection. [ORIGINAL STORY FOLLOWS] For the past few weeks, investors have…
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The National Football League has approved sweeping changes to its ownership policies that will allow the private equity industry to invest in teams, opening the most lucrative sports league in the US to the buyout industry for the first time.NFL owners on Tuesday gave the green light to the changes, which would allow team owners to sell minority stakes to private equity firms. It has named a handful of investment managers including Ares Management, Arctos Partners, Sixth Street and a consortium made up of Blackstone, Carlyle, CVC, Dynasty Equity and Ludis, which was founded and led by retired NFL player Curtis…
Justice Jackson explains what exactly concerned her about Trump’s immunity ruling Supreme Court Justice Ketanji Brown Jackson told CBS News that she is “concerned” about the court’s divisive decision to grant sweeping immunity to former President Donald Trump because it treats one person differently than others in the criminal justice system. Read the full article here
By Lucy Lazarony, Next Avenue Many Americans in their 50s don’t have nearly enough savings set aside for retirement. How bad is the shortfall? According to Prudential’s 2024 Pulse of the American Retiree survey, with just a decade until the traditional retirement age, 55-year-old Americans have less than $50,000 in median retirement savings. Prudential says that is “significantly short” of the recommendation to have saved eight times one’s annual income by that age. The Bureau of Labor Statistics estimated in June that the median annual wage for U.S. workers aged 55 and older was $62,244. Eight times that amount is…
Our goal here at Credible Operations, Inc., NMLS Number 1681276, referred to as “Credible” below, is to give you the tools and confidence you need to improve your finances. Although we do promote products from our partner lenders who compensate us for our services, all opinions are our own. The interest rate on a 30-year fixed-rate mortgage is 6.125% as of August 5, which is 0.250 percentage points lower than on Friday. Additionally, the interest rate on a 15-year fixed-rate mortgage is 5.490%, which is 0.135 percentage points lower than on Friday. With mortgage rates changing daily, it’s a good…
Three of the nation’s largest retailers — Dollar General, Dollar Tree and Kroger — charge fees to customers who ask for “cash back” at check-out, amounting to more than $90 million a year, according to the Consumer Financial Protection Bureau.Many retailers offer a cash-back option to consumers who pay for purchases with a debit or pre-paid card.But levying a fee for the service may be “exploiting” certain customers, especially those who live in so-called banking deserts without easy access to a bank branch or free cash withdrawals, according to a CFPB analysis issued Tuesday.That dynamic tends to disproportionately impact rural…
Nordstrom on Tuesday posted earnings that blew past Wall Street’s expectations, indicating the department store is making strides in its efforts to cut costs and boost efficiencies. Though the Seattle-based retailer posted earnings per share that were 25 cents higher than expected, it issued tepid guidance for the full year. Nordstrom now expects adjusted earnings per share to be between $1.75 and $2.05, compared to a previous range of $1.65 to $2.05. It anticipates sales will be in a range of a 1% decline to 1% growth from the prior year, compared to previous guidance of down 2% to up 1%. In a…
