Sam Altman, co-founder and CEO of OpenAI, takes part in a panel discussion on artificial intelligence at the Technical University Berlin, in Berlin, Germany, February 7, 2025. Axel Schmidt | Reuters OpenAI is in talks with sovereign wealth funds in the Middle East to try to secure investments for a new multibillion dollar funding round, CNBC confirmed on Wednesday. The round is expected to total a...
Sam Altman, co-founder and CEO of OpenAI, takes part in a panel discussion on artificial intelligence at the Technical University Berlin, in Berlin, Germany, February 7, 2025. Axel Schmidt | Reuters OpenAI is in talks with sovereign wealth funds in the Middle East to try to secure investments for a new multibillion dollar funding round, CNBC confirmed on Wednesday. The round is expected to total around $50 billion, but the numbers could change and term sheets have not been signed, according to a source familiar with the discussions who asked not to be named because the details are confidential. Bloomberg was first to report the discussions. OpenAI CEO Sam Altman is in the United Arab Emirates to participate in the investment talks, the person said. The round is expected to close in the first quarter of the year. OpenAI kickstarted the AI boom by launching its artificial intelligence chatbot ChatGPT in 2022, and has since become one of the fastest growing commercial entities on the planet. The company has raised billions of dollars from investors as it's worked to scale and develop new models and roll out new features. Last year, OpenAI closed a $40 billion financing round led by SoftBank, the largest private tech funding on record. The round included participation from core investor Microsoft , as well as Coatue, Altimeter and Thrive. OpenAI also finalized a $6.6 billion share sale in October that boosted its valuation to $500 billion. WATCH: OpenAI CFO Sarah Friar: There’s a massive ‘capability overhang’ in AI that’s occurring watch now VIDEO 5:38 05:38 OpenAI CFO Sarah Friar: There's a massive 'capability overhang' in AI that's occurring Squawk Box
Follow Bloomberg India on WhatsApp for exclusive content and analysis on what billionaires, businesses and markets are doing. Sign up here . Eternal Ltd. ’s shares jumped in early trading in Mumbai on Thursday after strong momentum in its quick-commerce business boosted its quarterly earnings and prompted several broker upgrades. Shares of the India’s top food-delivery firm gained as much as 7.6% ...
Follow Bloomberg India on WhatsApp for exclusive content and analysis on what billionaires, businesses and markets are doing. Sign up here . Eternal Ltd. ’s shares jumped in early trading in Mumbai on Thursday after strong momentum in its quick-commerce business boosted its quarterly earnings and prompted several broker upgrades. Shares of the India’s top food-delivery firm gained as much as 7.6% after net income for the December quarter surged 73% from a year ago but fell short of consensus estimates, hurt by higher costs. At least three brokerages, including Avendus Spark upgraded the stock to buy following the results, which came post-market Wednesday. Separately, the company said chief executive Deepinder Goyal will step down from the role and be succeeded by Albinder Singh Dhindsa . Goyal added that he will remain involved in shaping the company’s long-term strategy.
ServisFirst Bancshares (NYSE: SFBS) jumped on Wednesday after the Alabama-based bank holding company announced strong fourth-quarter results. By the close of trading, ServisFirst's stock price was up more than 14%. Image source: Getty Images. Continue reading
ServisFirst Bancshares (NYSE: SFBS) jumped on Wednesday after the Alabama-based bank holding company announced strong fourth-quarter results. By the close of trading, ServisFirst's stock price was up more than 14%. Image source: Getty Images. Continue reading
Soaring freight rates have enticed some shipowners to use new tankers to transport Russian oil , a trade usually carried out by older vessels that are close to — and occasionally over — their usual lifespan. Rates ballooned at the end of 2025 after the US and European Union blacklisted hundreds of tankers linked to the trade , tightening supply. The reputational risk and threat of sanctions spooke...
Soaring freight rates have enticed some shipowners to use new tankers to transport Russian oil , a trade usually carried out by older vessels that are close to — and occasionally over — their usual lifespan. Rates ballooned at the end of 2025 after the US and European Union blacklisted hundreds of tankers linked to the trade , tightening supply. The reputational risk and threat of sanctions spooked some shipowners, but the money to be made moving Russian crude was too tempting for at least two Greek companies. Shipping Moscow’s oil isn’t outright illegal, though moving barrels above a so-called price cap means the trade will not be supported by services from Western providers that dominate sectors such as insurance. The fear of breaching that cap often deterred legitimate operators, with the dark fleet filling the gap. Now, sanctions have led to a plunge in Russian oil prices, providing a buffer from the price cap, and giving the Greek controllers the confidence to join the trade and cash in using three tankers that are less than a year old. The pool of legitimate Russian crude for export shrank following US sanctions last year on oil producers Rosneft PJSC and Lukoil PJSC. There are still barrels that haven’t been sanctioned, but the trade is grappling with a tanker shortage of around 53 vessels, according to data intelligence firm Vortexa. “Harsher sanctions have significantly raised the compliance and reputational risks associated with participating in Russia crude flows,” said Delia He , an analyst at Vortexa, which tracks ships. The average rate to transport Russian Urals oil from Primorsk to India’s west coast rose to more than $60 per ton in late December — the highest level in two years — according to data compiled by Argus Media, due to the ship shortage. That compares with around $25 at the beginning of last year. Those returns have prompted Dynacom Tankers Management Ltd. and Capital Ship Management Corp. to deploy some of their newest vessels to the trad...
A 26-year-old Malaysian has been deported from Australia after border authorities found over 100 images of child sexual abuse material (CSAM) on his mobile phone. The man arrived in Sydney and was selected for a device examination by the Australian Border Force (ABF). “On his phone, officers allegedly found over 100 images of CSAM, including anime and AI-generated pictures,” the ABF said in a stat...
A 26-year-old Malaysian has been deported from Australia after border authorities found over 100 images of child sexual abuse material (CSAM) on his mobile phone. The man arrived in Sydney and was selected for a device examination by the Australian Border Force (ABF). “On his phone, officers allegedly found over 100 images of CSAM, including anime and AI-generated pictures,” the ABF said in a statement. “The man was detained for questioning then sent back to Malaysia. This also resulted in the...