Tag Archives: billion

In today’s world, the markets cannot be separated from politics. Case in point – the semiconductor subsidy bill currently before Congress. The bill, which holds the promise of some $52 billion worth of subsidies for the US semiconductor industry, was stalled in the Congressional processes for several months but last week got a boost from House Speaker Nancy Pelosi. In a move not sees as particularly coincidental, Pelosi’s husband just last month exercised a call option to purchase more… Source link

By Svea Herbst-Bayliss, Anirban Sen and Arunima Kumar NEW YORK (Reuters) -Billionaire investor William Ackman, who had raised $4 billion in the biggest-ever special purpose acquisition company (SPAC), told investors he would be returning the sum after failing to find a suitable target company to take public through a merger. The development is a major setback for the prominent hedge fund manager who had initially planned for the SPAC to take a stake in Universal Music Group last year when… Source link

Britta Pedersen/Getty Images; Twitter; Rachel Mendelson/Insider Elon Musk’s decision to kill the $44 billion Twitter deal means banks could lose a “nine-figure” payday. Musk’s and Twitter’s financial advisors could pocket up to $192 million if the deal closes. The billionaire faces an uphill battle to call off the deal as he has to prove there’s been a material adverse effect on the transaction. Elon Musk’s ‘will-he-won’t-he’ dance to buy Twitter took a turn on Friday after the billionaire said… Source link

Elon Musk on Friday announced he was backing out of his $44 billion Twitter acquisition bid, blaming the social media platform’s alleged lack of transparency regarding bots on the site. As both sides prepare for a lengthy court battle, some Twitter influencers are floating an alternate theory for the change of heart: The bots were never the problem, merely a vehicle through which to covertly sell Tesla options that were about to expire. “Entire thing was a clever ruse to SELL + LIQUIDATE $8.5… Source link

By Greg Roumeliotis (Reuters) – Elon Musk, the chief executive officer of Tesla and the world’s richest person, said on Friday he was terminating his $44 billion deal to buy Twitter because the social media company had breached multiple provisions of the merger agreement. Twitter’s chairman, Bret Taylor https://twitter.com/btaylor/status/1545526087089696768?s=20&t=7sx_IvK_zZkztdHdh8pwQQ, said on the micro-blogging platform that the board planned to pursue legal action to enforce the merger… Source link

(Bloomberg) — Betting against tech has become a winning trade, with short sellers sitting on billions in paper profits as growth stocks slump. Most Read from Bloomberg A historic rout in the so-called FAANG cohort — Facebook owner Meta Platforms Inc., Apple Inc., Amazon.com Inc., Netflix Inc. and Google parent Alphabet Inc. — has delivered $19.8 billion in mark-to-market profits for investors speculating on declines as of June 30, according to data-analytics firm S3 Partners. “It was… Source link

Transformers are used for translation and text summarising tasks because they can analyze sequential input data, such as natural language. Transformers use the self-attention process and weights the importance of each component of the input data differently. Large-scale transformer-based language models have gained a lot of popularity recently in the disciplines of computer vision and natural language processing (NLP). They expand in size and complexity frequently, yet it… Source link

(Bloomberg) — Stock dip-buyers across the ETF world have vanished after seeing their account balances ravaged too many times in the 2022 meltdown. Most Read from Bloomberg Three times, to be specific. That’s the number of 5% bounces that have failed to endure in the S&P 500 this year — luring billions of dollars to exchange-traded funds in every rebound. Not this time. As the S&P 500 jumped more than 6% through Friday from its 2022 trough, roughly $10 billion was pulled out of equity funds,… Source link

The world’s third-largest maker of semiconductor wafers, Taiwan’s GlobalWafers, announced plans to build a $5 billion factory in the U.S. on Monday—but only if the government helps pay for it. “This investment that they’re making is contingent upon Congress passing the CHIPS Act. The [GlobalWafers] CEO told me that herself, and they reiterated that today,” U.S. Commerce Secretary Gina Raimondo told CNBC, the same day GlobalWafers announced its development plan. Congress actually Source link

What will happen with Warren Buffett’s billions when he dies? Some of it might go to every kid on the planet. So reports the Wall Street Journal in a recent investigation of the future of Buffett’s fortune, which is worth $96.8 billion at the time of this article’s publication. In 2006, the Berkshire Hathaway CEO pledged to give away 85% of his stock in the company to charity, designating the majority of it to the Bill & Melinda Gates Foundation. Four years later, he vowed to… Source link