Analysts are slashing by half their estimates of the value of Ant Group after its IPO was suspended by Chinese regulators. Rules requiring the Chinese online financials services and payments company to raise more capital to back loans it facilitates and acquire more licenses could cut its value by $140 billion, Bloomberg reported. Ant had been on track to a record-breaking $280 billion dual...
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Oracle’s Answer to the Microsoft-OpenAI Alliance: Cozying Up to Cohere
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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