OpenAI, the creator of ChatGPT, is acquiring Statsig, a startup that creates tools for testing software features. The payment for the deal will be made solely using OpenAI shares. With OpenAI’s current valuation at $300 billion, the agreement will total approximately $1.1 billion. Statsig CEO Vijaye Raji will be named CTO of OpenAI's applications and will oversee the engineering development of...

Elliott Investment Management has purchased a $4 billion stake in PepsiCo Inc. and is pushing for modifications at the company to bolster its stock, The Wall Street Journal reported, referencing sources close to the situation. PepsiCo, a major player in the global soft drink industry, has faced challenges in recapturing market share recently, falling behind competitors. The company's food...

CapVest Partners is close to buying the German drug company Stada Arzneimittel AG for €10 billion, including debt, Bloomberg reports based on information from sources. The sources say that CapVest, based in London, is finalizing the deal terms with Stada's owners, Bain Capital and Cinven. Earlier, talks stopped because the parties couldn't agree on the value of Stada, how the deal would be...

According to Bloomberg, the U.S. division of Intel Corp., along with South Korean firms Samsung Electronics and SK Hynix, will forfeit their access to American technology. Information from the U.S. Federal Register indicates that the exemptions permitting their use of American technology will end in 120 days. The businesses will have the opportunity to request licenses to maintain their...

American Walgreens Boots Alliance, purchased by the investment firm Sycamore Partners, revealed a shift in its corporate organization. The organization will divide into multiple autonomous entities. Alongside the American pharmacy chain Walgreens, there is the British chain Boots Group, which offers healthcare services through Shields Health Solutions, focuses on home health care with...

Europe's biggest ammunition factory, constructed by arms producer Rheinmetall AG in the Unterlüss area of Lower Saxony, started operations on Wednesday, according to Bloomberg. The facility aims to achieve its maximum output by 2027, at which point it can manufacture as many as 350,000 rounds of ammunition annually. The firm intends to manufacture rocket artillery systems at that location...

EssilorLuxottica, the European producer of eyewear and sunglasses, is contemplating raising its ownership in the Japanese optical equipment manufacturer Nikon Corp., according to Bloomberg, which references sources with knowledge of the situation. EssilorLuxottica presently possesses roughly 9% of Nikon. As per sources, it aims to raise its ownership in the Japanese firm to 20%. Nikon's stock...

AbbVie Inc., an American pharmaceutical firm, is acquiring the operations of Gilgamesh Pharmaceuticals Inc. to create a medication aimed at treating individuals with moderate to severe clinical depression. A press release from AbbVie states that clinical trials for the medication are presently in progress. According to the agreement, AbbVie will purchase Gilgamesh's initiative to create this...

Nvidia Corp. is negotiating with the U.S. government for approval to send advanced new chips to China, CEO Jensen Huang stated on Friday. This week, reports surfaced indicating that Nvidia is creating a new AI chip for the Chinese market, named the B30A, which surpasses the H20 that the company can send to China. Huang, visiting Taiwan, informed reporters that the firm could send more...