BEIJING — Chinese businesses are tapping DeepSeek’s newest artificial intelligence model to see how it can improve productivity. The Chinese AI model took the world by storm in recent weeks after showcasing its reasoning process and claims to undercut rival OpenAI’s ChatGPT on cost — despite U.S. restrictions on Chinese access to the advanced semiconductors … Read more
Investors have been flocking to actively managed ETFs with their assets under management growing five times more than those of passive funds in 2024, a Morningstar report showed. As these funds chase high performance, some analysts have raised concerns whether their returns justify the higher expenses and other risks. “Active funds add an extra layer … Read more
Desmond Lim, co-founder and CEO of Workstream. Courtesy of Desmond Lim Desmond Lim is no stranger to hard work. At the age of seven, he fell in love with basketball, but when his family couldn’t afford to buy him his own ball, he came up with the money by himself. “Money was always tight,” Lim … Read more
Seven-time Super Bowl champion Tom Brady is entering the sports collectibles space. Brady will acquire a 50% stake in CardVault, a sports card and memorabilia retailer, the company announced on Wednesday. As part of the deal, CardVault will change its name to “CardVault by Tom Brady,” and is planning to rapidly scale its footprint. Card … Read more
Demonstrators rally outside the U.S. Treasury Department after it was reported billionaire Elon Musk has gained access to Treasury’s federal payments system that sends out more than $6 trillion per year in payments on behalf of federal agencies and contains the personal information of millions of Americans, in Washington, U.S., Feb. 4, 2025. Kent Nishimura … Read more
A Google Cloud logo outside the Google Cloud data center ahead of its ceremonial opening in Hanau, Germany, on Friday, Oct. 6, 2023. Bloomberg | Bloomberg | Getty Images The U.S. is facing a power capacity crisis as the tech sector races against China to achieve dominance in artificial intelligence, an executive leading the energy … Read more
Tokyo, Japan skyline with the Tokyo Tower Chunyip Wong | E+ | Getty Images Asia-Pacific markets opened higher Thursday, breaking ranks with Wall Street that fell overnight as a stronger-than-expected U.S. inflation reading diminished prospects of policy easing by the U.S. Federal Reserve. Australia’s S&P/ASX 200 rose 0.2%. Japan’s Nikkei 225 rose 0.54% while the … Read more
Local labor organizers celebrate at a United Auto Workers vote watch party on April 19, 2024 in Chattanooga, Tennessee. With over 51% of workers voting yes the UAW won the right to form a union at the plant. Elijah Nouvelage | Getty Images Five unions sued the Trump administration on Wednesday, seeking to block what they called the possible mass firing … Read more
Adam Foroughi, CEO of AppLovin. CNBC AppLovin shares soared almost 30% in extended trading on Wednesday after the company reported earnings and revenue that sailed past analysts’ estimates and issued better-than-expected guidance. Here’s how the company performed compared with analysts’ expectations, according to LSEG: Earnings per share: $1.73 vs. $1.24 expected Revenue: $1.37 billion vs. … Read more
Elon Musk listens to U.S. President Donald Trump speak in the Oval Office of the White House in Washington, D.C., U.S., Feb. 11, 2025. Kevin Lamarque | Reuters Social media company X has agreed to pay about $10 million to settle a lawsuit by President Donald Trump, who has put X’s billionaire owner Elon Musk … Read more