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OpenAI seeks $6.5 billion investment as costs continue to mount
OpenAI is seeking to raise $6.5 billion from investors with a further $5bn in credit from banks — valuing the AI startup at $150 billion. The Microsoft-backed AI startup hasn’t yet confirmed the investment. However the funding round is reportedly led by Thrive Capital and may include further investment from Microsoft, which has already invested $13bn in the company. The…
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Apple Must Pay Back €13 Billion in Unpaid Taxes to Ireland, E.U. Court Rules
Apple has been ordered to pay back €13 billion ($14.4 billion) worth of tax to Ireland by the European Court of Justice. Two of its subsidiaries illegally received tax benefits between 1991 and 2014, as these benefits were not available to other companies. Ireland issued tax rulings favouring Apple Sales International and Apple Operations Europe in 1991 and 2007, respectively.…
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AWS announces £8 billion UK investment in major expansion scheme
Amazon Web Services (AWS) has unveiled plans to invest £8 billion in the UK over the next five years as part of a major push to expand data center infrastructure across the country. The investment, which forms part of the company’s long-term commitment to the UK, is expected to create more than 14,000 jobs, with the majority supporting AWS’ data…
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Unpacking Australia’s $1 Billion Bet On a Future PsiQuantum Quantum Computer
Earlier this year, Australia agreed to invest nearly AUD $1 billion in U.S.-based quantum start-up PsiQuantum in an effort to become the first country to own a commercial-scale quantum computer. The technology is expected to be operational by 2027. “This investment marks the start of a manufacturing and production partnership that will create hundreds of local high-skilled jobs,” the Australian…
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Amazon’s $4 billion investment in Anthropic faces UK competition probe – here’s what it means
The UK’s competition watchdog is looking into Amazon’s $4 billion investment in AI firm Anthropic, saying it may refer the deal for further investigation. First unveiled by Amazon Web Services (AWS) in September 2023, the deal consisted of an initial $1.25 billion stake in the firm and was followed by an additional $2.7 billion, confirmed earlier this year. As part…
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Hackers leak 2.7 billion data records with Social Security numbers
Almost 2.7 billion records of personal information for people in the United States were leaked on a hacking forum, exposing names, social security numbers, all known physical addresses, and possible aliases. The data allegedly comes from National Public Data, a company that collects and sells access to personal data for use in background checks, to obtain criminal records, and for private investigators. National…
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