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All articles tagged with #investors

AI Becomes the Public Excuse for Big-Tech Layoffs
technology11 days ago

AI Becomes the Public Excuse for Big-Tech Layoffs

Several major tech firms, including Google, Amazon, Meta, Pinterest, and Atlassian, have framed recent job cuts as a consequence of AI-driven productivity, arguing they can accomplish more with fewer people. Analysts say the narrative serves investor-satisfaction goals and signals discipline as these companies also plan to invest hundreds of billions in AI; while AI tools may boost efficiency, layoffs reflect cost pressures and strategic shifts amid growing AI expenditure.

via Slashdot|
#ai#big-tech#investors
NFL, TMRW Sports unveil professional flag football league backed by legends and investors
sports11 days ago

NFL, TMRW Sports unveil professional flag football league backed by legends and investors

The NFL announced a partnership with TMRW Sports to develop and operate a professional flag football league for women and men, supported by NFL clubs, institutional investors, and current and former NFL players and prominent sports figures. The league aims to capitalize on flag football’s global growth and its Olympic momentum ahead of the 2028 Los Angeles Games, with planning underway and up to $32 million approved by NFL clubs via 32 Equity to launch and run the venture.

via NFL.com|
#flag-football#investors#nfl
OpenAI ends Sora amid compute costs and fierce competition
ai14 days ago

OpenAI ends Sora amid compute costs and fierce competition

OpenAI announced it would discontinue Sora, wind down video generation in ChatGPT, and wind down a $1 billion Disney deal to refocus compute on profitability, enterprise tools, and world-simulation robotics. The move follows Sora’s heavy compute demands, lack of clear ROI, and intensified competition from Google and Anthropic, as investors scrutinize AI bets and OpenAI eyes a potential IPO.

via The Verge|
#ai#compute#investors
Jury Rules Musk Misled Twitter Investors in 2022 Buyout
courts21 days ago

Jury Rules Musk Misled Twitter Investors in 2022 Buyout

A San Francisco jury found Elon Musk defrauded Twitter investors during the $44 billion 2022 takeover, ruling that his May 13 and May 17 tweets about bot counts were false or misleading. The verdict did not find a broader fraud scheme, but damages per share and per stock option for the May 13–Oct 3, 2022 period could total over $2.6 billion, with Musk planning to appeal.

via Courthouse News Service|
#bot-accounts#courts#elon-musk
Jury finds Musk misled investors in Twitter takeover, billions at stake
social-media21 days ago

Jury finds Musk misled investors in Twitter takeover, billions at stake

A San Francisco federal jury ruled that Elon Musk’s tweets about fake accounts during Twitter’s $44 billion takeover misled investors, finding fraud on that point while clearing him on other claims; the verdict could mean billions in damages for shareholders, though the exact amount remains to be determined. Musk testified the tweets were his personal views and that Twitter executives had lied about bot counts.

via Engadget|
#elon-musk#fake-accounts#federal-civil-trial
Jury Finds Musk Misled Twitter Investors During 2022 Takeover
business21 days ago

Jury Finds Musk Misled Twitter Investors During 2022 Takeover

A San Francisco federal jury unanimously found that Elon Musk’s public statements about Twitter’s user metrics and the 2022 takeover misled investors, potentially lowering the stock by roughly $3 to $8 a share and exposing Musk to damages for the class; Musk testified that readers overinterpreted his posts, while investors like Belgrave said they sold at a loss amid the turmoil as the deal proceeded and the platform was renamed to X.

via BBC|
#business#investors#lawsuit
business23 days ago

Crimson Desert Review Fallout Knocks Pearl Abyss Stock

Pearl Abyss’s stock fell roughly 29% in a single session after Crimson Desert’s reviews surfaced, with Metacritic scoring the game at 78—well below the internally expected 90—sparking investor selling; Insider Gaming’s own review gave the title a 7/10, praising its world and battles but warning of unfocused systems and narrative issues as launch approaches.

via Insider Gaming|
#business#crimson-desert#investors
Carolina Hurricanes Expand Ownership With Three Minority Investors
sports29 days ago

Carolina Hurricanes Expand Ownership With Three Minority Investors

Carolina Hurricanes owner Tom Dundon announced three new investors—Brett Jefferson, Marc Grandisson and Bobby Farnham—have joined the ownership group as minority owners, with Dundon retaining majority control; the trio will be introduced to the media in Raleigh on March 18 ahead of a home game against the Pittsburgh Penguins, and the deal was assisted by LionTree Advisors and Smith Anderson.

via NHL.com|
#canes#carolina-hurricanes#investors
politics1 month ago

Senate advances bipartisan housing deal, eyes final passage as CBDC debate unfolds

The Senate cleared another hurdle for a bipartisan housing package, advancing the 21st Century ROAD to Housing Act by 89-9-1 and signaling final passage as early as Thursday. The measure blends House and Senate housing priorities with a White House-backed push to ban large institutional buyers of single-family homes, while a CBDC ban sweetener tests House support; housing-industry groups are seeking changes to build-to-rent sell requirements and to negotiate in conference to reconcile differences.

via Politico|
#build-to-rent#cbdc#housing
Biotech investors wary as FDA shifts stance on rare-disease drugs
business1 month ago

Biotech investors wary as FDA shifts stance on rare-disease drugs

Over the past year the FDA has denied or discouraged at least eight drug applications, including UniQure’s Huntington’s gene therapy and Regenxbio’s Hunter syndrome, and even reversed course on Moderna’s flu vaccine review, prompting investors to doubt whether the agency’s rare-disease flexibility will endure and to worry about the fate of other pipeline drugs; upcoming decisions (e.g., Denali Therapeutics) will test whether current standards remain consistent amid broader regulatory uncertainty.

via CNBC|
#biotech#business#drug-approval