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Cerebras raises annual targets on strong AI chip demand

Cerebras raises annual targets on strong AI chip demand

Aug 12 (Reuters) - Cerebras Systems raised its annual revenue and gross margin forecasts on Wednesday, buoyed by robust demand for its chips from companies ramping up data-center capacity to power AI services. Still, its shares were down more than 7% in extended trading.
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OpenAI Completes $7 Billion Share Sale in Pre-IPO Strategy

OpenAI Completes $7 Billion Share Sale in Pre-IPO Strategy

OpenAI Completes $7 Billion Share Sale in Pre-IPO Strategy
Reuters Reuters
Cerebras shares plummet 16% after results fail to impress investors

Cerebras shares plummet 16% after results fail to impress investors

By Anhata Rooprai and Max A. Cherney Aug 12 (Reuters) - Cerebras Systems shares plunged roughly 16% in the extended session on Wednesday after the chip designer missed quarterly revenue expectations. The stock closed up 11.6% during regular trading and has gained 15.5% week-to-date.
TheStreet TheStreet
Oracle sends another shocking message to employees

Oracle sends another shocking message to employees

2026 has been a hard year to work in tech, even at companies posting record revenue. Salesforce trimmed its support division nearly in half earlier this year, then quietly cut more jobs in an AI-related shakeup in February. The justification each time is the same: Artificial intelligence made the ...
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Anthropic Plans September-October IPO Ahead of OpenAI

Anthropic Plans September-October IPO Ahead of OpenAI

Anthropic Plans September-October IPO Ahead of OpenAI
TheStreet TheStreet
Popular social media app closes major U.S. office, cuts 100s of jobs

Popular social media app closes major U.S. office, cuts 100s of jobs

TikTok spent years fighting to preserve its U.S. business as lawmakers threatened to effectively ban the social media platform over national-security concerns. Earlier this year, that fight resulted in a sweeping restructuring of TikTok’s American operations under a new majority-American-owned ...
FactFable FactFable
Why Reddit's Cash Reserves Hit Records—and Why It Refuses to Spend Them

Why Reddit's Cash Reserves Hit Records—and Why It Refuses to Spend Them

Reddit is sitting on a record pile of cash after its IPO, but why is the company hesitant to spend it on platform improvements? We explain the strategy.
TheStreet TheStreet
Public outcry over data centers has banks recalculating risk

Public outcry over data centers has banks recalculating risk

Depending on who you ask, the public backlash against data centers is either a messaging problem or a grassroots backlash against a nefarious encroachment on the way of life in communities across the country. Whatever the cause of the pushback, it's clear that the voice of the people is at least ...
Reuters Reuters
Lenders scrutinize US data center financing as community opposition builds

Lenders scrutinize US data center financing as community opposition builds

By Saeed Azhar and Tatiana Bautzer NEW YORK, Aug 10 (Reuters) - The race to finance the U.S. data center boom is forcing banks and asset managers to confront an added risk: political and community opposition.
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OpenAI Completes $7 Billion Share Sale Ahead of Potential IPO

OpenAI Completes $7 Billion Share Sale Ahead of Potential IPO

OpenAI Completes $7 Billion Share Sale Ahead of Potential IPO
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OpenAI Completes $7 Billion Employee Tender Offer Amidst IPO Speculation

OpenAI Completes $7 Billion Employee Tender Offer Amidst IPO Speculation

OpenAI Completes $7 Billion Employee Tender Offer Amidst IPO Speculation
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Oracle's Stock Rises Amid AI Expansion and Debt Concerns

Oracle's Stock Rises Amid AI Expansion and Debt Concerns

Oracle's Stock Rises Amid AI Expansion and Debt Concerns