Larry Summers, president emeritus and professor at Harvard University, at the World Economic Forum (WEF) in Davos, Switzerland, on Tuesday, Jan. 21, 2025. Stefan Wermuth | Bloomberg | Getty Images Former Treasury Secretary Larry Summers said Wednesday that he will resign from the board at OpenAI after the release of emails between him and the notorious sex offender Jeffrey Epstein. Summers had announced…
Microsoft on Tuesday announced new strategic partnerships with Nvidia and the artificial intelligence startup Anthropic, the latest sign that the company is working to reduce its dependence on OpenAI. As part of the agreement, Microsoft will invest $5 billion into Anthropic, while Nvidia will invest $10 billion into the startup. The investments have pushed Anthropic’s…
Judson Althoff, CEO of Microsoft’s commercial business and then mresident of Microsoft North America, speaks during We Day at KeyArena in Seattle on April 23, 2015. Mat Hayward | Getty Images Entertainment | Getty Images Microsoft made it easier for corporate workers to make AI agents that go off and do work. Now it’s demonstrating…
Sebastian Siemiatkowski, CEO and Co-Founder of Swedish fintech Klarna, gives a thumbs up during the company’s IPO at the New York Stock Exchange in New York City, U.S., Sept. 10, 2025. Brendan McDermid | Reuters Klarna topped Wall Street third-quarter revenue expectations in its first earnings report after debuting on the New York Stock Exchange…
Emilija Manevska | Moment | Getty Images Artificial intelligence startup Cursor on Thursday announced it has closed a $2.3 billion funding round at a $29.3 billion post-money valuation, nearly triple what it was worth as of its last raise in June. Tune in at 4:30 p.m. ET as Cursor CEO Michael Truell joins “Closing Bell:…
Elon Musk announced his new company xAI, which he says has the goal to understand the true nature of the universe. Jaap Arriens | Nurphoto | Getty Images Elon Musk‘s artificial intelligence company xAI has raised $15 billion from investors, sources familiar with the matter told CNBC’s David Faber. Musk later called the report “False”…
Developer AI coding tool Cursor continues to swallow venture capital as its valuation continues to soar. On Thursday, Cursor announced a $2.3 billion funding round, valuing the company at $29.3 billion, as originally reported. wall street journalThe round is more than double the company’s previous valuation of $9,9 billion, which it had achieved during its…
Chuck Robbins, Cisco CEO, speaking on CNBC’s Squawk Box outside the World Economic Forum in Davos, Switzerland on Jan. 22, 2025. Gerry Miller | CNBC Cisco reported better-than-expected profit and revenue for its fiscal first quarter on Wednesday. The stock rose in extended trading. Here’s how the company did in comparison with consensus estimates from…
Advanced Micro Devices‘ CEO Lisa Su shut down concerns over Big Tech’s elevated spending during an interview with CNBC’s “Squawk Box” on Wednesday and said investing in more computing will accelerate the pace of innovation. “I don’t think it’s a big gamble,” she said. “I think it’s the right gamble.” Many of AMD’s hyperscaler customers…
Rocket Lab posted record revenues in the third quarter as it scoops up more launch deals and builds its backlog. The space stock slipped more than 1% on Tuesday, pulling back from earlier gains. The company, which makes satellites and rockets and provides launch services to its customers, on Monday reported revenue of $155 million…
