The Biden administration said on Tuesday that it would direct up to $1.6 billion in funding toward developing new technology for packaging computer chips, a major thrust in U.S. efforts to stay ahead of China in creating components needed for applications like artificial intelligence. The proposed funding, part of the money authorized under the 2022…
Volkswagen, the German automaker, said on Tuesday that it would invest up to $5 billion in Rivian, a maker of electric trucks that has struggled to turn a profit, and that the companies would cooperate on software for electric vehicles. The deal creates an unusual alliance between the world’s second-largest carmaker and an electric vehicle…
Tesla shareholders have reaffirmed a pay award of more than $45 billion for Elon Musk, the chief executive, after it was thrown out in a legal challenge. The vote result, announced at Tesla’s annual meeting in Austin, Texas, on Thursday, is a strong sign that shareholders still believe in Mr. Musk and it could persuade…
Elon Musk, Tesla’s chief executive, offered a personal tour of the electric carmaker’s factory in Austin, Texas, to select shareholders this week. “Please let us know if you have any questions about voting your Tesla shares!” Mr. Musk wrote on X, the social media platform he owns. It was just one of at least a…
Elon Musk’s artificial intelligence company, xAI, said on Sunday that it has raised $6 billion, helping to close the funding gap with OpenAI, Anthropic and other rivals in the red-hot industry. The funds would be used “to take xAI’s first products to market, build advanced infrastructure, and accelerate the research and development of future technologies,”…
A bipartisan group of senators released a long-awaited legislative plan for artificial intelligence on Wednesday, calling for billions in funding to propel American leadership in the technology while offering few details on regulations to address its risks. In a 20-page document titled “Driving U.S. Innovation in Artificial Intelligence,” the Senate leader, Chuck Schumer, and three…
Wayve, a London maker of artificial intelligence systems for autonomous vehicles, said on Tuesday that it had raised $1 billion, an eye-popping sum for a European start-up and an illustration of investor optimism about A.I.’s ability to reshape industries. SoftBank, the Japanese conglomerate that backed Uber and other tech companies, was the lead investor, along…
Amazon reported its highest first-quarter profit on Tuesday as it continued to wring efficiencies out of its retail business and recharge growth in its cloud computing operations. The company was also for the first time on track to have $100 billion in annual cloud computing sales. The company had $143.3 billion in revenue in the…
Philips Respironics has reached a $1.1 billion settlement over claims that people who used their CPAP and other breathing devices were harmed by noxious gasses and flecks of foam that lodged in their airways, sometimes for years. Thousands of people contended in lawsuits that they had been injured by popular Philips DreamStation machines. The settlement…
On Thursday, Alphabet, Google’s parent company, reported strong revenue growth in its latest quarter from its search engine and video platform, YouTube, as its market-leading position in online advertising continued to reap rewards despite recent fluctuations in the industry. Alphabet reported $80.5 billion in quarterly sales, up 15 percent from a year earlier, and above…
