Business

(Reuters) – Lithium Americas said on Friday automaker General Motors has delayed the second tranche of investment, worth $330 million, in the miner until the end of the year. GM had announced an investment of $650 million, in two tranches, in Lithium Americas last year to help it develop the Thacker Pass lithium mining project in Nevada, which holds enough of the battery metal to build 1 million electric vehicles annually. The lithium miner said … Read more…

(Reuters) – Intel’s shares rose more than 3% before the bell on Friday, as a report of the struggling chipmaker exploring options that could include a merger or a split induced some investor enthusiasm after one of the stock’s worst slumps in decades. The company is working with investment bankers and considering various options such as separating its flagship product business from its money-losing manufacturing unit, Bloomberg News reported on Thursday. Intel is also discussing … Read more…

(Reuters) – AI startup OpenAI said on Thursday its chatbot ChatGPT now has more than 200 million weekly active users, double the number it had in the last fall season. ChatGPT, launched in 2022, can generate human-like responses based on user prompts and had 100 million weekly active users, OpenAI CEO Sam Altman had said in November. OpenAI said 92% of Fortune 500 companies are using its products and the use of its automated Application … Read more…

(Reuters) -Dell Technologies beat Wall Street estimates for second-quarter revenue and profit on Thursday, driven by strong demand for its AI-powered servers amid a recovering personal computer market. Shares of the Round Rock, Texas-based company rose 3.3% in extended trading. Dell has capitalized on increasing demand for its AI servers, which are powered by Nvidia’s graphics processors. These servers are designed to meet the growing computing needs of AI systems, including training language models. Revenue … Read more…

By Pete Schroeder WASHINGTON (Reuters) – The U.S. Federal Reserve announced on Wednesday it had set the latest capital cushions for large banks following June’s annual stress tests, but agreed to shrink Goldman Sachs’ burden. The new levels, effective Oct. 1, largely mirror the ones the Fed first identified as part of the annual health check of large banks. The central bank, however, added in its statement that it had lowered the extra capital level … Read more…

By David Ljunggren OTTAWA (Reuters) – Before Canada said this week it was imposing a 100% duty on Chinese-made electric vehicles, Tesla approached Ottawa and asked for a lower tariff on its autos, a Canadian government source said on Wednesday. Canada, following the lead of the United States, said on Monday it was setting the tariff for all Chinese-made vehicles sold in the country because of what it called China’s intentional, state-directed policy of over-capacity. … Read more…

By Max A. Cherney SAN FRANCISCO (Reuters) – Cerebras Systems launched on Tuesday a tool for AI developers that allows them to access the startup’s outsized chips to run applications, offering what it says is a much cheaper option than industry-standard Nvidia processors. Access to Nvidia graphics processing units (GPUs) – often via a cloud computing provider – to train and deploy large artificial intelligence models used for applications such as OpenAI’s ChatGPT can be … Read more…

By Daniel Wiessner (Reuters) – U.S. labor board prosecutors have determined that a union’s claims that Chipotle Mexican Grill illegally refused to give raises to workers at a Michigan restaurant after they became the first and only employees of the fast-casual chain to unionize have merit. The National Labor Relations Board’s general counsel will issue a formal complaint against Chipotle unless it settles the claims by the International Brotherhood of Teamsters, NLRB spokeswoman Kayla Blado … Read more…

NEW YORK (Reuters) – The Bank of New York Mellon has agreed to pay $5 million to settle U.S. Commodity Futures Trading Commission charges for repeatedly failing to correctly report millions of swap transactions, violating a previous order, the regulator said in a statement on Monday. BNY repeatedly failed to correctly report at least 5 million swap transactions and failed to properly supervise its swap dealer business from about 2018 through 20123, the CFTC said … Read more…