By Shariq Khan and Seher Dareen NEW YORK (Reuters) – U.S. refiners pumped out jet fuel last week at the fastest pace since the pandemic, government data showed, as they look to keep up with forecasts of record air travel this summer. U.S. refiners’ net production of jet fuel hit about 1.9 million barrels per day (bpd) last week, 8% higher than the same time last year and the highest weekly total since January 2020, … Read more…
By Jeffrey Dastin (Reuters) – Anthropic, a startup backed by Google and Amazon.com, on Thursday released an updated artificial intelligence model and a new layout to boost user productivity, continuing an industry sprint to push technology’s frontier. Three months after rolling out its Claude 3 family of AI models, Anthropic said it was launching Claude 3.5 Sonnet. Compared with Claude 3 Opus – which CEO Dario Amodei in March called the “Rolls-Royce of models” – … Read more…
(Reuters) – Oracle on Thursday said it will invest more than $1 billion over the next 10 years in artificial intelligence and cloud computing in Spain, as it looks to meet increasing demand for its services in the country. The investment will be used to set up a new cloud region that will allow customers to move workloads from their data centers to Oracle Cloud Infrastructure, while also helping them address regulations like the European … Read more…
(Reuters) – Apple has suspended work on its next high-end Vision headset, the Information reported on Tuesday, citing an employee at a manufacturer that makes key components for the Vision Pro. The iPhone maker is still working on releasing a more affordable Vision product with fewer features before the end of next year, the report said, citing a person involved in its supply chain and one person in the manufacturing of the headsets. Apple did … Read more…
By Fabian Cambero and Daina Beth Solomon SANTIAGO (Reuters) – More than 50 companies have expressed interest in developing lithium projects in Chile, Finance Minister Mario Marcel said on Tuesday, after the government called for proposals for a range of salt flats containing the battery metal. Chile, the world’s largest copper producer, called for proposals in April to develop lithium projects in more than two dozen salt flats that have yet to be fully explored, … Read more…
By Suzanne McGee and Lisa Pauline Mattackal (Reuters) – One of the world’s largest technology funds is set to ramp up its exposure to Nvidia, which has become the world’s most valuable company following a blistering run in its shares. The $72.34 billion Technology Select Sector SPDR Fund, managed by State Street Global Advisors, will buy some $10 billion shares of Nvidia while slashing its exposure to Apple, Matthew Bartolini, head of SPDR Americas research … Read more…
By David French (Reuters) – Some of Colonial Pipeline’s owners are exploring divesting their stakes, hoping they can fetch prices that would value the largest U.S. fuel transportation system in excess of $10 billion, according to people familiar with the matter. Growing U.S. energy consumption has raised demand for pipeline capacity. Any deal would test the company’s value three years after a major cyberattack disrupted its operations. Canadian pension fund Caisse de dépôt et placement … Read more…
SANTIAGO (Reuters) -Chilean lithium miner SQM, the world’s second-largest lithium producer, said on Monday it had reached a long-term supply deal with Hyundai and Kia to provide the carmakers with the white metal, key for the production of electric vehicle batteries. Hyundai and Kia will “secure a portion of (their) future lithium hydroxide supply from SQM,” the miner, which has previously landed supply deals with Ford Motors and battery maker LG Energy, said in a … Read more…
By Tom Hals WILMINGTON, Delaware (Reuters) – Tesla began its fight for legal recognition of a shareholder vote favoring Elon Musk’s record compensation, telling a Delaware judge that it “significantly impacts” her ruling voiding the pay, according to a letter made public on Monday. Tesla wrote to Chancellor Kathaleen McCormick that the parties in the pay package case should now lay out their legal interpretations of Thursday’s ratification of Musk’s pay, rather than moving ahead … Read more…
(Reuters) -OpenAI CEO Sam Altman told some shareholders that the company is considering changing its governance structure to a for-profit business that OpenAI’s nonprofit board doesn’t control, The Information reported on Friday. One scenario Altman said the board is considering is a for-profit benefit corporation, which rivals such as Anthropic and xAI are using, the report said, citing a person who heard the comments. OpenAI did not immediately respond to Reuters request for comment. (Reporting … Read more…