STANTON, Tenn. — Ford said Friday its under-construction assembly plant in West Tennessee will be able to build up to 500,000 electric pickup trucks a year at full capacity, part of the automaker’s drive to produce 2 million electric vehicles worldwide per year by the end of 2026. The company made the announcement while providing … Read more
US Treasury Secretary Janet Yellen testifies before a subcommittee on March 23, 2023 in Washington, DC. Alex Wang | Getty Images News | Getty Images This report comes from today’s CNBC Daily Open, our new international markets newscast. CNBC Daily Open updates investors on everything they need to know, wherever they are. Like what you … Read more
Some of the world’s largest internet companies may have strong balance sheets, but their employees couldn’t avoid layoffs. From Microsoft to SAP, technology companies around the world have laid off thousands of employees since the start of the year. Tech companies that have laid off staff have spoken of slowing growth and that they are … Read more
Ford on Thursday forecast a dramatic turnaround at its electric vehicle unit, reiterating that it expects its electric vehicle business to be solidly profitable by the end of 2026. Here, step by step, is how Ford expects the Model e to achieve a positive EBIT profit margin of 8% in less than four years. Wall … Read more
Character.AI, an artificial intelligence startup founded by two former Google employees, is capitalizing on venture capitalists’ unquenchable thirst for business in tech’s hottest space. The two-year-old company said on Thursday it raised $150 million at a $1 billion valuation in a funding round led by Andreessen Horowitz. Noam Shazeer and Daniel De Freitas, who helped … Read more
The badge of a Ford Motor Co. E-Transit electric vehicle during a presentation in Washington, DC, U.S., Wednesday, July 28, 2021. Al-Draco | Bloomberg | Getty Images Ford Motor said Thursday that its electric vehicle business lost $2.1 billion last year on an operating basis, a loss that was more than offset by $10 billion … Read more
Bill Gates has said he thinks artificial intelligence is the most revolutionary technology he’s seen in decades, on par with computers, cellphones and the internet. “The development of AI is as fundamental as the creation of the microprocessor, the personal computer, the Internet and the mobile phone,” he wrote in a blog post on Tuesday. … Read more
Office drama is brewing when employees — and their bosses — are allowed to use ChatGPT at work. Generative artificial intelligence technology from OpenAI – a billion-dollar-backed startup from Microsoft Corp. – was launched at the end of November and was immediately adopted by many workers to create professional-looking emails and PowerPoint presentations, as well … Read more
A general view of Cosmic Girl, a converted Boeing 747 carrying the LauncherOne rocket under its left wing, as final preparations are made at Cornwall Newquay Airport on January 9, 2023 in Newquay, United Kingdom. Matthew Horwood | Getty Images Virgin Orbit is in final talks to raise funds from Texas-based investor Matthew Brown, two … Read more
“This is the first time in a long time that the FOMC has had a real decision to make,” said JonesTrading chief strategist Michael O’Rourke, who is among the handful urging the Fed to pause. “Remember, this banking crisis is the result of banks not properly preparing for a cycle of rising interest rates. Another … Read more
