Chinese AI firm DeepSeek released a new open-source model it said would compete with OpenAI’s and Google DeepMind’s advanced products, as China races to catch up to the US on AI. Hangzhou-based DeepSeek took the tech world by storm last year by releasing a model that delivered near industry-leading performance ...
Category: Semafor
Category Added in a WPeMatico Campaign
Intel shares jump 20% on data center plansIntel shares jump 20% on data center plans
Intel shares jumped 20% on its projected revenue surges from AI data centers. The US chip giant, which last year required a government rescue, has seen a recent revival after years of trailing rival TSMC: Its new manufacturing processes are among the most advanced in the industry, comparable to TSMC’s. ...
Some experts dismiss ‘apocalyptic talk’ of Hormuz disruptionsSome experts dismiss ‘apocalyptic talk’ of Hormuz disruptions
Some experts argued the Strait of Hormuz closure may not lead to an all-out economic catastrophe, as the prevailing narrative suggests. The Brookings Institution’s Robin Brooks wrote that global manufacturing data from March shows that the Iran war “isn’t nearly [as] disruptive as some would like it to be,” and ...
Trump issues ‘shoot and kill’ order amid Hormuz standoffTrump issues ‘shoot and kill’ order amid Hormuz standoff
US President Donald Trump ordered the Navy to “shoot and kill” Iranian boats placing mines in the Strait of Hormuz, escalating the bitter stalemate over the key waterway. The directive came after Iran seized two container ships; both sides are looking to control the strait through their own blockades, creating ...
US reclassifies marijuana as less harmful substanceUS reclassifies marijuana as less harmful substance
The Trump administration reclassified marijuana as a less harmful substance on Thursday, removing barriers to research and generating tax benefits for the legal industry. Cheered by advocates and criticized by some Republicans, the move doesn’t legalize marijuana use nationwide, but removes cannabis from the same federal category as heroin and ...
China stockpiled three times as much crude as the US in 2025China stockpiled three times as much crude as the US in 2025
China stashed more than three times as much crude oil as the US in 2025, new data shows. The US government report underscores how intensely China worked to bolster its reserves ahead of the Iran war, giving it a crucial buffer in the face of energy supply disruptions during the ...
Trump says he’s ‘looking’ at buying Spirit AirlinesTrump says he’s ‘looking’ at buying Spirit Airlines
The News The US government will buy a stake in Spirit Airlines if it can “get it for the right price,” President Donald Trump said Thursday. “We’re thinking about doing it, helping them out, meaning bailing them out, or buying it — I think we’d just buy it, we’d be ...
M&A has become unrecognizableM&A has become unrecognizable
Liz’s view When we broke the story of Microsoft’s $10 billion investment in OpenAI in January 2023, I said two things that now seem pretty stupid. First, I asked my colleague Reed Albergotti what OpenAI was. Second, I confidently said on CNBC that people should think of the deal more ...
Lululemon plucks Nike cast-off for CEOLululemon plucks Nike cast-off for CEO
Lululemon’s shares dropped 11% Thursday after the athleisure brand picked Heidi O’Neill as its new CEO, an indication the market knows what everyone in the retail business already did. O’Neill was passed over in 2024 to run Nike (Elliott Hill came out of retirement for the gig) after a quarter ...
Higher oil prices bolster earnings in Saudi Arabia, OmanHigher oil prices bolster earnings in Saudi Arabia, Oman
Oman and Saudi Arabia can expect a windfall from higher oil prices due to the Iran war, according to Goldman Sachs. Oil revenues for the two countries have risen as crude prices have surged due to the effective closure of the Strait of Hormuz; with all its ports outside the ...