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Bloomberg News

All articles tagged with #bloomberg news

business1 month ago•34 min saved

Oracle and OpenAI abandon Texas AI center expansion amid funding snags

Oracle and OpenAI have dropped plans to expand a flagship AI data center in Abilene, Texas, after financing talks dragged on and OpenAI's needs changed; the Abilene site will be operated by Oracle Cloud Infrastructure, while a broader Stargate expansion remains on track at other campuses, and Bloomberg News reported Meta Platforms could lease the Abilene site from Crusoe; Nvidia helped facilitate talks to ensure Nvidia chips power the expansion.

via Reuters|

#bloomberg-news #business #data-center

business2 years ago•0 min saved

"Reddit Plans Unprecedented $748M IPO to Kick Off Next Week"

Reddit and its investors are aiming to raise up to $748 million in its initial public offering, with plans to sell 22 million shares at a price range of $31 to $34 per share, according to Bloomberg News.

via Reuters|

#bloomberg-news #business #fundraising

business2 years ago•1 min saved

Elon Musk's X Faces Major Ad Revenue Decline as Boycotts and Missed Targets Plague Sales

Elon Musk's social media platform X is projected to see a significant drop in ad sales, with 2023 sales estimated to fall to around $2.5 billion. This comes after several companies, including Comcast and Walt Disney, paused their advertisements on the platform following Musk's agreement with a post that made controversial claims about Jewish people. Ad sales make up a significant portion of X's total revenue, and the company is expected to fall far short of its targeted $3 billion in revenue from advertising and subscriptions in 2023.

via New York Post |

#ad-sales #advertising-revenue #bloomberg-news