Author: GT

CoreWeave CEO Michael Intrator, left, testifies before the Senate Committee on Commerce, Science and Transportation in Washington on May 8, 2025.Chip Somodevilla | Getty ImagesArtificial intelligence-oriented cloud infrastructure company CoreWeave said Monday it will acquire Core Scientific, a data center infrastructure provider, in an all-stock deal valued at approximately $9 billion.CoreWeave stock was down about 2% in trading on Monday afternoon, while Core Scientific stock was about 16% lower. Shares of both companies rallied at the end of June after the Wall Street Journal reported that talks were underway for an acquisition.”I think that, like many things that we do,…

The data industry is on the verge of a drastic transformation. The market is consolidating. And if the deal flow in the past two months is any indicator — with Databricks buying Neon for $1 billion and Salesforce snapping up cloud management firm Informatica for $8 billion — momentum is building for more. The acquired companies may range in size, age, and focus area within the data stack, but they all have one thing in common. These companies are being bought in hopes the acquired technology will be the missing piece needed to get enterprises to adopt AI. On the…

Submerged in about 40 meters (44 yards) of water off Scotland’s coast, a turbine has been spinning for more than six years to harness the power of ocean tides for electricity — a durability mark that demonstrates the technology’s commercial viability. Keeping a large, or grid-scale, turbine in place in the harsh sea environment that long is a record that helps pave the way for bigger tidal energy farms and makes it far more appealing to investors, according to the trade association Ocean Energy Europe. Tidal energy projects would be prohibitively expensive if the turbines had to be taken out…

Twitter CEO Jack Dorsey testifies during a remote video hearing held by subcommittees of the U.S. House of Representatives Energy and Commerce Committee on “Social Media’s Role in Promoting Extremism and Misinformation” in Washington, March 25, 2021.CNBCBlock CEO Jack Dorsey spent the weekend building Bitchat, a new decentralized, peer-to-peer messaging app that works entirely over Bluetooth mesh networks, with no internet, central servers, phone numbers or emails required.The Twitter co-founder announced Sunday that the beta version is live on TestFlight, with a full white paper available on GitHub.In a post on X Sunday Dorsey called it a personal experiment in…

White House trade advisor Peter Navarro criticized Apple CEO Tim Cook on Monday over the company’s response to pressure from the Trump administration to make more of its products outside China.”Going back to the first Trump term, Tim Cook has continually asked for more time in order to move his factories out of China,” Navarro said in an interview on CNBC’s “Squawk on the Street.” “I mean it’s the longest-running soap opera in Silicon Valley.”CNBC has reached out to Apple for comment on Navarro’s criticism.President Donald Trump has in recent months ramped up demands for Apple to move production of…

Apple on Monday filed an appeal against the EU’s decision to fine the company €500 million (about $580 million) for not complying with rules that mandate companies to let developers steer users outside the App Store for making purchases, according to multiple reports. The European Commission issued the fine in April, saying that Apple failed to comply with the Digital Markets Act (DMA) rules to allow developers to accept payments for their apps outside Apple’s ecosystem. Apple revised its fee structure for app distribution in the EU in late June with a more complicated framework that includes an initial acquisition…

The UK and Singapore are laying the groundwork for what might become a blueprint for international AI cooperation in finance.For their tenth annual Financial Dialogue, representatives from the UK’s Financial Conduct Authority and Singapore’s Monetary Authority met in London earlier this week alongside fintech companies from both nations showing off their latest AI solutions.Rather than vague promises of “future collaboration,” the partnership has immediately focused on practical applications. Among the areas explored include how AI can improve risk assessment, spot fraud more effectively, and deliver more personalised financial services without compromising regulatory standards.The day after the official Financial Dialogue, the…

Ingram Micro, a U.S. technology distributing giant and managed services provider, said on Monday a ransomware attack is the cause of an ongoing outage at the company. The hack began on Thursday, after which the company’s website and much of its network went down. Late on Saturday, the company said in a brief statement that it was working to restore systems so it can begin processing orders again.  Ingram Micro on Monday alerted shareholders to the breach before markets opened in the United States. California-based Ingram Micro is one of the world’s largest technology distributors, shipping tech and hardware to…

CoreWeave founders Brian Venturo, at left in sweatshirt, and Mike Intrator slap five after ringing the opening bell at Nasdaq headquarters in New York on March 28, 2025.Michael M. Santiago | Getty Images News | Getty ImagesArtificial intelligence hyperscaler CoreWeave said Monday it will acquire Core Scientific, a leading data center infrastructure provider, in an all-stock deal valued at approximately $9 billion. Coreweave stock fell about 4% on Monday while Core Scientific stock plummeted about 20%. Shares of both companies rallied at the end of June after the Wall Street Journal reported that talks were underway for an acquisition.The deal…

White House Senior Advisor Elon Musk walks to the White House after landing in Marine One on the South Lawn with U.S. President Donald Trump (not pictured) on March 9, 2025 in Washington, DC.Samuel Corum | Getty Images News | Getty ImagesTesla shares fell in premarket trade on Monday after CEO Elon Musk announced plans to form a new political party.The stock was down 7.13% by 4:27 a.m. E.T.Musk said over the weekend that the party would be called the “America Party” and could focus “on just 2 or 3 Senate seats and 8 to 10 House districts.” He suggested this…