(Reuters) – U.S. businessman Elon Musk recently told investors that his artificial intelligence startup xAI is planning to build a supercomputer to power the next version of its AI chatbot Grok, The Information reported on Saturday citing a presentation to investors. Musk said he wants to get the proposed supercomputer running by the fall of 2025, as per the report, adding that xAI could partner with Oracle to develop the massive computer. xAI could not … Read more…

By Yuvraj Malik (Reuters) – Shares of Dell Technologies hit a record high on Friday amid a rally in companies working on generative artificial intelligence applications, buoyed by strong optimism for the new technology. AI-heavyweight Nvidia posted strong quarterly results and forecast current-quarter revenue above Wall Street expectations on Wednesday, reinforcing that customers’ spending on genAI will continue to hold strong. The positive momentum extended to Dell, which has recently launched AI-oriented personal computers and … Read more…

(Reuters) -GameStop made nearly $933.4 million by selling 45 million shares, the struggling videogame retailer said on Friday, sending its shares up 15% after the bell. The company had disclosed its share sale plan earlier this month amid a retail buying frenzy sparked by the return on social media of “Roaring Kitty” Keith Gill, whose bullish calls on the company spurred the 2021 meme stock rally. The deal was structured as an “at-the-market” offering, in … Read more…

By Hadeel Al Sayegh and Federico Maccioni DUBAI (Reuters) -Saudi Arabia is planning a multi-billion-dollar share sale in energy giant Aramco as soon as June in what would be one of the region’s biggest stock deals, two people familiar with the matter said. The offering could raise around $10 billion, one of the people said. The preparations are ongoing and the details could still change, the sources said, who were speaking on condition of anonymity … Read more…

By Patrick Wingrove (Reuters) -Eli Lilly said on Friday it has invested another $5.3 billion in its new Lebanon, Indiana manufacturing plant, more than doubling its previous investment, as it scrambles to meet soaring demand for its weight-loss and diabetes drugs. The new investment, which brings the total to $9 billion, will help boost production of the active pharmaceutical ingredients (API) for Lilly’s powerful weight-loss drug Zepbound and diabetes treatment Mounjaro, the company said. “Today’s … Read more…