Bristol Myers Squibb has signed a deal worth up to 15.2 billion dollars with Jiangsu Hengrui Medicine, China’s largest pharmaceutical company by market capitalisation. The agreement covers 13 early-stage drug programmes across oncology, haematology, and immunology. None of the drugs have entered human clinical trials. The deal was announced on the same day that […]
While AI peers chase billion-dollar megafunds, the Eventbrite founder’s venture firm has gone the other way. Kevin Hartz, the Eventbrite co-founder turned long-time seed investor, has closed a $450m fund at A*, his San Francisco venture firm, according to Bloomberg. The vehicle pointedly avoids the multi-billion-dollar AI megafund template that has dominated venture fundraising for […]
Ryan Cohen offered $125 a share, partly to be funded by a $20bn TD Securities commitment letter and, briefly, by selling old store signs on eBay itself. The eBay board, which had to ban and then unban him during the process, says no. eBay has formally rejected GameStop’s $56bn takeover bid, telling the video-game retailer’s […]
A leaked internal briefing note describes a new admin role on the £330m Federated Data Platform that lets external staff bypass case-by-case data approvals. Patient groups and Labour MPs have called the change dangerous. NHS England has decided to allow external personnel from contractors, including Palantir, to access identifiable patient data through a new administrative […]
China’s export earnings have reached roughly $500m an hour, according to a Bloomberg calculation based on the latest customs data, with AI-related goods accounting for about half of the year-on-year growth that has driven the figure to record levels. Total Chinese exports rose 14.1% year-on-year in April to a record $359.4bn, comfortably ahead of consensus […]
The former OpenAI chief scientist, who now runs Safe Superintelligence, gave the figure under oath. It places him among the largest individual shareholders in the company. Ilya Sutskever, the former chief scientist of OpenAI who now runs Safe Superintelligence Inc., disclosed during testimony in the Musk-OpenAI litigation on Monday that his ownership stake in OpenAI […]
The US Commerce Department has removed from its website the details of an agreement under which Microsoft, Google, and xAI agreed to submit new AI models to government scientists for security testing before release, Reuters reported on Monday. The original page, posted on 5 May, said the three companies would hand over their frontier AI […]
The Nvidia CEO is not on the list of US executives travelling to Beijing for the Trump-Xi summit. Apple’s Tim Cook and Tesla’s Elon Musk are among those attending; the trip’s focus is reportedly agriculture, manufacturing, and aviation. NVIDIA CEO Jensen Huang will not join President Donald Trump’s business delegation to China this week, Reuters […]
ZoomInfo beat its first-quarter earnings estimates, cut its full-year revenue guidance by 62 million dollars, announced a restructuring that will eliminate 600 jobs, and lost 29 per cent of its stock price in a single trading session. The company reported 310.2 million dollars in revenue, up 1.5 per cent year over year. Adjusted earnings […]
The complaint, filed on behalf of California residents, alleges Meta earns up to $7bn a year from “high-risk” scam ads and tolerated the practice. The county wants restitution, civil damages, and an injunction. Santa Clara County has sued Meta Platforms in California state court, alleging the company profits from scam advertising on Facebook and Instagram […]
