Egypt approved Uber’s $3.1 billion acquisition of main Middle Eastern rival, Careem, Reuters reported , easing the way for the deal to close in January. The Egyptian Competition Authority imposed restrictions designed to maintain competition in the market. Uber “has agreed to abandon exclusivity provisions with partners and intermediaries and reduce barriers to entry into the market,” the...
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Oracle has invested in Cohere, an artificial intelligence startup that competes with OpenAI, the startup said on Thursday. What Cohere didn’t say: Oracle plans to make the startup a centerpiece of its strategy to catch up to bigger cloud rivals that sell services powered by large-language models. Steve Miranda, a senior Oracle executive, has told employees the company plans to sell access...
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