DeepSeek secured more than 50 billion yuan ($7.4 billion) in its initial funding round and achieved a valuation exceeding $50 billion, making it the most valuable AI startup in China, as reported by The Wall Street Journal, referencing sources. DeepSeek's founder and CEO, Liang Wenfeng, made the most significant investment, around $3 billion. The National Artificial Intelligence Industry...

Gina Rinehart, the wealthiest individual in Australia, has acquired a share valued at more than $1 billion in Elon Musk's American SpaceX via her firm, Hancock Prospecting, as reported by The Wall Street Journal. Rinehart told about the investment via email, and a source revealed the stake's size. The investment indicates Hancock's trust in Musk and the necessity for additional Western funding...

Fox Corp., founded by billionaire Rupert Murdoch, is purchasing the streaming service Roku for around $22 billion, as reported by the media giant's press office. The agreement is anticipated to finalize in the initial half of 2027 and requires approval from U.S. antitrust regulators. Fox will compensate $160 for each Roku share ($96 in cash and 0.9693 Fox Class A shares for every Roku share)....

Xbox is set to implement significant layoffs next month as new CEO Asha Sharma revamps Microsoft Corp.'s gaming and console division to address falling revenue, according to Bloomberg. Sources indicate that Xbox intends to sharply cut back on marketing and various other expenses across different segments of the business. Sharma has earlier addressed the difficulties in public, mentioning that...

The German car manufacturer Mercedes-Benz intends to form collaboration with Tytan Technologies, a startup located in Munich. Among other aspects, it provides drone interceptors to Ukraine, reports Der Spiegel. The firms officially signed a strategic partnership memorandum on June 10 during the International Aerospace Show in Berlin. Mercedes-Benz and Tytan Technologies aim to create the "Drone...

Pirelli's stock fell 13.5% during Milan trading on Thursday, reaching a minimum of 5.31. The stock dropped sharply after activist investors from Grizzly Research claimed Pirelli had close connections to Russia and was indirectly supporting the Russian military. Grizzly Research holds a short position in these stocks, and the activists are gaining from their drop. The activists assert that they...

Aluminium Bahrain (Alba) has reached an agreement to purchase Aluminum Dunkerque, the biggest aluminum smelter in the European Union, from American Industrial Partners (AIP) for around $2.2 billion, the buyer revealed. The deal is set to be finalized by the end of 2026 and has already been authorized by the European Commission. After the completion of the transaction, Alba will acquire 100% of...

Toyota Motor, the Japanese automaker, will halt operations at 13 factories in the country on Wednesday morning due to Typhoon Jangmi, according to Nikkei. Suzuki Motor, another automaker, intends to temporarily close five of its facilities in Shizuoka Prefecture because of the weather. The storm interfered with transportation, causing several flights from Okinawa and Amami-Oshima Island in...

Berkshire Hathaway has reached an agreement to purchase the American construction firm Taylor Morrison for $8.5 billion, according to the Financial Times, referencing a statement from the investment entity. According to the publication, this is Berkshire's initial significant acquisition following Warren Buffett's exit as CEO. As part of the agreement, Berkshire will disburse $72.50 for every...