Samsung SDI Buys Out GM’s Battery Plant and Pivots It to Storage
The plant was built for the electric-vehicle boom. It will spend its early years making batteries for storage instead. Samsung SDI said Monday it will acquire General Motors’ stake in…
Meta Sets Up $1 Billion Fund for the Towns That Host Its Data Centers
The towns that host Meta’s data centers are getting a check. The company said this week it will set up a $1 billion fund to support community projects near its…
Intel’s $20 Billion Share Sale Draws More Than $100 Billion in Orders
Intel’s bankers did not have a quiet week. The company’s $20 billion stock offering closed Tuesday with institutional orders topping $100 billion, a wave of demand that left the deal…
TSMC Approves $29.4 Billion Budget and Teams With Sony on Image Sensors
The board meeting was routine. The numbers it approved were not. Taiwan Semiconductor Manufacturing Co. signed off on a $29.4 billion capital budget Monday and confirmed a joint venture with…
OpenAI’s No. 2 Executive Departs as IPO Preparations Accelerate
Brad Lightcap, the chief operating officer who built OpenAI’s commercial engine, is leaving the company to start a venture of his own. The New York Times reported the departure Monday…
Temasek Weighs First Korean Equity Bet, Targeting Samsung and SK Hynix
Singapore’s Temasek is considering its first direct foray into Korean stocks, and it has set its sights on the country’s two memory-chip giants. The sovereign fund has been weighing investments…
Nvidia’s Credit Risk Gauge Eases After Financing Plan Gets a Clarification
The price of protecting against an Nvidia default eased on Monday, a day after the company said it would limit its exposure to a $500 billion plan to finance artificial-intelligence…
Google’s Gemini Passes a Billion Monthly Users, Fastest in Company History
Google’s Gemini chatbot now counts more than a billion monthly users, a mark that took the company’s other major products years to reach. Chief executive Sundar Pichai announced the figure…
Apple’s Payments Chief to Retire as iPhone Lineup Expands to Six Models
The executive who spent a decade persuading people to leave their wallets at home is stepping back. Apple said its senior vice president Eddy Cue sent a memo Monday confirming…
xAI Cofounder’s River AI Raises $1.1 Billion With Nvidia and AMD on Board
Igor Babuschkin left Elon Musk’s xAI to build a company of his own. On Monday, investors lined up to pay for it. River AI, the startup founded by the xAI…
