Articles from www.bloomberg.com

Articles from www.bloomberg.com

Didi reports Q1 revenue up 15% YoY to ~$6.8B and a ~$190M net loss, in part due to higher sales and marketing costs, as well as higher driver fees (www.bloomberg.com)
2024-5-29

Brazilian digital bank Nubank hits a $58.2B market cap, surpassing Itau, previously the most valuable financial institution in Latin America, at ~$56B (www.bloomberg.com)
2024-5-29 U.S. Brazil Latin America

Samsung's labor union said it will carry out its first ever strike after wage negotiations, which have been ongoing since the start of 2024, broke down (www.bloomberg.com)
2024-5-29 Samsung

In a podcast, former OpenAI board member Helen Toner says the board learned of ChatGPT's launch on Twitter, criticizes Sam Altman's leadership on safety, more (www.bloomberg.com)
2024-5-29 Twitter

Abu Dhabi-based edtech startup Alef Education, which serves kindergarten to 12th grade, aims to raise up to $515M in an IPO, Abu Dhabi's first IPO of 2024 (www.bloomberg.com)
2024-5-28 IPO Startup Education

Chinese government data: foreign-branded smartphone shipments, most of which are iPhones, rose 52% YoY to ~3.5M in April, after stabilizing in March 2024 (www.bloomberg.com)
2024-5-28 China

How pro-Russian groups exploit Telegram, which has 41M MAUs in the EU, below the DSA's 45M threshold, to spread disinformation on Ukraine, immigration, and more (www.bloomberg.com)
2024-5-28 Russia Immigration Ukraine

A closer look at Apple's AI strategy: Project Greymatter, local and cloud LLM data processing, Siri, approach to the chatbot partnership with OpenAI, and more (www.bloomberg.com)
2024-5-27 AI Apple chatbot

Four of the top seven best-reviewed games on Metacritic in 2024, not counting remakes, are indies, with Animal Well and Balatro in the top three (www.bloomberg.com)
2024-5-26

A significant amount of illicit crypto activity still remains in China, highlighting the continuing use of cryptocurrencies despite Beijing's digital asset ban (www.bloomberg.com)
2024-5-26 China Ban Asset

OpenAI releases a majority of past employees from nondisparagement agreements tied to their exit contracts, and says it won't seek to cancel their vested equity (www.bloomberg.com)
2024-5-25 Equity

PE firm Hg agrees to buy AuditBoard, a risk and compliance cloud software provider for large businesses, at $3B+ including debt (www.bloomberg.com)
2024-5-25

Sources: Alibaba raised $4.5B from a convertible bond sale in one of the largest such offerings in recent years, after rival JD.com's recent $1.75B offering (www.bloomberg.com)
2024-5-24 Alibaba

OpenAI releases a majority of past employees from nondisparagement agreements tied to their exit contracts and would not seek to cancel staffers' vested equity (www.bloomberg.com)
2024-5-24 Equity

Sources: Alphabet and Meta are in talks with Hollywood studios about licensing content for use in AI video generation tools; Disney and Netflix aren't willing (www.bloomberg.com)
2024-5-24 AI Netflix Alphabet

UK tech tycoon Mike Lynch is set to take the stand in his own defense against charges of duping HP, a rare and bold decision; Lynch also took the stand in 2019 (www.bloomberg.com)
2024-5-23

Xiaomi reports Q1 revenue up 27% YoY to ~$10.4B, above ~$10.3B est., net profit down 1% YoY to ~$588M, above ~$572M est., and smartphone shipments up 34% YoY (www.bloomberg.com)
2024-5-23 Xiaomi

How social e-commerce app Xiaohongshu has defied China's tech sector crackdown and boomed through a combination of influencers, AI, and soft marketing tactics (www.bloomberg.com)
2024-5-23 China AI

US-listed PDD, which runs Temu and Pinduoduo, reports Q1 revenue up 131% YoY to ~$12B and operating profit up 275% YoY to ~$3.6B, as global expansion gains pace (www.bloomberg.com)
2024-5-23

Istanbul-based Colendi, which provides digital banking services, raised a $65M Series B at a $700M valuation from Citi Ventures and others (www.bloomberg.com)
2024-5-23

Snowflake reports Q1 revenue up 33% YoY to $828.7M, product revenue up 34% YoY to $789.6M, vs. $749M est., and projects Q2 product revenue above estimates (www.bloomberg.com)
2024-5-23

Intercontinental Exchange, which owns the NYSE, agreed to pay $10M to settle SEC allegations that it failed to immediately tell the agency about a hack in 2021 (www.bloomberg.com)
2024-5-23

Zuckerberg creates the Meta Advisory Group with Patrick Collison, Nat Friedman, Tobi Lütke, and Charlie Songhurst, to advise on tech and growth opportunities (www.bloomberg.com)
2024-5-23 Zuckerberg

Microsoft and UAE-based G42 plan to build a $1B geothermal-powered data center in Kenya, opening in about two years, to boost computing capacity in East Africa (www.bloomberg.com)
2024-5-22 Microsoft Africa

Cambridge-based Raspberry Pi confirms plans for a London Stock Exchange IPO, aiming to raise $40M and listing in June, and reports $265.8M in 2023 revenue (www.bloomberg.com)
2024-5-22 IPO Raspberry Pi London

Sources: Snowflake's talks to acquire Reka AI, which builds LLMs for businesses, for more than $1B have broken down (www.bloomberg.com)
2024-5-22 AI

Sources: Humane is seeking a buyer for its business, after the rocky launch of its AI pin; a source says the startup is seeking a price of between $750M and $1B (www.bloomberg.com)
2024-5-22 Startup AI

A French AI startup, simply called H and founded by ex-Google DeepMind scientists, raised $220M from Accel and others, and plans a model capable of reasoning (www.bloomberg.com)
2024-5-21 France Google Startup AI

Alibaba slashes prices for its AI services by up to 97%, leading Baidu to offer free Ernie AI-based services; ByteDance priced its services cheaply last week (www.bloomberg.com)
2024-5-21 Alibaba AI

Sources: in the event that China invades Taiwan, ASML and TSMC have ways to disable their sophisticated chipmaking machines; ASML reassured Dutch officials (www.bloomberg.com)
2024-5-21 China Taiwan Netherlands

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