Pfizer has announced a multi-year cost-cutting program focusing on operational efficiencies, network structure changes, and product portfolio enhancements, aiming to save $1.5 billion by 2027 amidst declining COVID-19 vaccine sales.
Funding
Saudi Arabia Funds China's AI Startup to Compete With OpenAI
A Saudi Arabian fund has become the sole foreign investor in China's generative artificial intelligence sector, supporting the country's efforts to rival industry leader OpenAI.
Russian Firms Turn to Cryptocurrency for Cross-Border Transactions with China Amid Sanctions
Russian firms increasingly use cryptocurrencies, such as Tether's USDT stablecoin, for cross-border transactions with Chinese partners to circumvent financial difficulties stemming from international sanctions.
Elon Musk's xAI Valued at $24 Billion After Securing New Funding to Compete Against OpenAI
Elon Musk's AI startup xAI has successfully secured $6 billion in series B funding, propelling its post-money valuation to an impressive $24 billion.
China’s ‘Big Fund’ Launches 3rd Local Chip Industry Funding Worth $47.5 Billion
China launched the third phase of its ‘Big Fund’ program supporting local semiconductor manufacturers with an estimated value of $47.5 billion.
Latest News
China will invest billions in the Cyberspace Administration's language model, based on Xi Jinping's ideology. They boast that it is more "secured and reliable" as ChatGPT remains inaccessible in China.
Peloton Interactive Inc. will reportedly undertake a "global refinancing" to resolve its debt and recover from a recent sales dip.
Princess Kate's major involvement in the Royal Foundation Business Taskforce for Early Childhood's recent report urging British businesses to invest in early childhood did not indicate a return to public duties and engagements after her cancer diagnosis, Kensington Palace said.
The Supreme Court has upheld the Consumer Financial Protection Bureau (CFPB) 's funding mechanism despite a challenge from conservative groups, ruling 7-2 in favor of the agency's funding structure.
The OpenAI Startup Fund has successfully raised an additional $5 million. The OpenAI Startup Fund has successfully raised an additional $5 million, according to a filing with the US Securities and Exchange Commission (SEC).
Anthropic will expand its generative AI assistant Claude to Europe while continuing to get funding from the continent.
Kyle Vogt, the former founder and CEO of self-driving vehicle firm Cruise, has launched a new venture-backed robots business focusing on home tasks.
China to issue 1 trillion Chinese Yuan in long-term bonds starting this week to boost the economy.
US health and agriculture authorities commit almost $200 million to address a bird flu outbreak in dairy cows across nine states.
