By Trevor Hunnicutt and Kanishka Singh WASHINGTON (Reuters) -U.S. President Donald Trump said on Friday he would “love” if Federal Reserve Chair Jerome Powell were to resign, and the president also said he wanted interest rates cut to 1%. KEY QUOTES “I’d love him to resign if he wanted to, he’s done a lousy job,”…
(Reuters) -OpenAI has recently begun renting Google’s artificial intelligence chips to power ChatGPT and other products, The Information reported on Friday, citing a person involved in the arrangement. The move, which marks the first time OpenAI has used non-Nvidia chips in a meaningful way, shows the Sam Altman-led company’s shift away from relying on backer…
By Lisa Richwine (Reuters) -Hollywood’s home state of California will more than double annual tax incentives for film and television production to $750 million under a measure passed by the Democratic-led legislature on Friday. The increase from the current $330 million was approved as part of a broader tax bill that is expected to be…
(Reuters) -Microsoft’s next-generation Maia AI chip is facing a delay of at least six months, pushing its mass production to 2026 from 2025, The Information reported on Friday, citing three people involved in the effort. When the chip, code-named Braga, goes into production, it is expected to fall well short of the performance of Nvidia’s…
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By Sabrina Valle NEW YORK (Reuters) -Private equity firms are holding about $1 trillion in unsold assets, PricewaterhouseCoopers (PwC) said on Wednesday — capital that, in a typical market environment, would have been returned to investors. High interest rates in the United States, President Donald Trump’s on-again, off-again approach to tariff policy, and geopolitical uncertainties…
(Reuters) -Texas Instruments said it would spend more than $60 billion to expand its U.S. manufacturing footprint, the latest chipmaker to ramp up domestic production amid pressure from the Trump administration to reshore the semiconductor supply chain. The funds will be used to build or expand seven chip-making facilities in Texas as well as Utah,…
(Reuters) -VinFast said on Wednesday its first dealership in San Diego, California, is set to begin operations this month, as the Vietnamese electric-vehicle maker doubles down on the dealer model in a bid to boost sales. Backed by Vietnam’s largest conglomerate, Vingroup, VinFast has faced challenges including softer demand, stiff competition and the fallout of…
(Reuters) -The total market capitalization of stablecoins surged to a record high on Wednesday, data showed, as the U.S. Senate passed a bill to regulate the sector, a major step towards legitimising a once-niche but now fast-growing corner of the crypto market. According to CoinDesk data, the market capitalization of stablecoins hit an all-time high…
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