Shares of Workday popped 9% on Wednesday to around $238 after activist investor Elliott Investment Management announced a $2 billion stake in the company. Workday announced a multi-year plan to enhance its operating model and capital allocation framework on Tuesday, and Elliott said it believes the plan will drive “substantial long-term value creation.” “We believe CEO Carl Eschenbach,…
The Alibaba office building in Nanjing, Jiangsu province, China, on Aug. 28, 2024. CFOTO | Future Publishing | Getty Images Alibaba shares rose on Wednesday after Chinese state media reported that the e-commerce giant secured a major customer for its artificial intelligence chips. China Unicom will deploy Alibaba’s AI accelerators from its semiconductor unit called…
Andy Jassy, CEO of Amazon, speaks during an unveiling event in New York on Feb. 26, 2025. Michael Nagle | Bloomberg | Getty Images Amazon CEO Andy Jassy said Tuesday that he’s working to root out bureaucracy from within the company’s ranks as part of an effort to reset its culture. Speaking at Amazon’s annual…
The StubHub logo is seen at its headquarters in San Francisco. Andrej Sokolow | Picture Alliance | Getty Images Online ticket platform StubHub is pricing its IPO at $23.50, CNBC’s Leslie Picker confirmed on Tuesday. The pricing comes at the midpoint of the expected range that the company gave last week. At $23.50, the pricing…
VCG | Visual China Group | Getty Images Google has been trying to play catch-up to OpenAI in generative artificial intelligence. It appears to finally be gaining ground with users. The company’s Gemini app took the top spot among free apps on Apple’s App Store this week, leapfrogging ChatGPT, which kickstarted the generative AI…
Microsoft CEO Satya Nadella speaks at Microsoft Build AI Day in Jakarta, Indonesia, on April 30, 2024. Adek Berry | AFP | Getty Images LONDON — Microsoft said on Tuesday that it plans to invest $30 billion in the U.K. by 2028, as the company builds out its artificial intelligence infrastructure. The investment includes an…
Treasury Secretary Scott Bessent said Tuesday that President Donald Trump was willing to let TikTok cease operating in the U.S., and that it was “what turned the tide” in the deal framework with China. “President Trump made it clear that he would have been willing to let Tiktok go dark, that we were not going…
The framework agreement for the social media platform TikTok will include new investors as well as existing investors in the platform’s Chinese parent company ByteDance, sources told CNBC’s David Faber. The deal is expected to close in the next 30 to 45 days, according to the sources, who asked not to be named because the…
Meta CEO Mark Zuckerberg tries on Orion AR glasses at the Meta Connect annual event at the company’s headquarters in Menlo Park, California, U.S., September 25, 2024. REUTERS/Manuel Orbegozo Manuel Orbegozo | Reuters Meta spent billions of dollars unsuccessfully trying to make virtual reality catch on with consumers. As it shifts its metaverse bet toward…
Google CEO Sundar Pichai gestures to the crowd during Google’s annual I/O developers conference in Mountain View, California on May 20, 2025. Camille Cohen | Afp | Getty Images Alphabet has joined the $3 trillion club. Shares of the search giant jumped more than 4% on Monday, pushing the company into territory occupied only by…
