Five years ago, Nvidia CEO Jensen Huang owned a stake in his chipmaker worth roughly $3 billion. After Thursday’s rally, which pushed the stock to a record, his holdings now stand at more than $90 billion. Nvidia late Wednesday reported first-quarter earnings that topped estimates, with sales jumping more than 200% for a third…
DETROIT — The United Auto Workers union is challenging the results of last week’s organizing vote of Mercedes-Benz workers in Alabama, in which workers voted against union representation, and is asking federal officials to order a new election. Among a dozen or so claims, the Detroit union alleges that the German automaker fired four…
Angry that your favorite Red Lobster closed down? Wall Street wizardry had a lot to do with it. Red Lobster was America’s largest casual dining operation, serving 64 million customers a year in almost 600 locations across 44 states and Canada. Its May 19 bankruptcy filing and closing of almost…
The next frontier for the ad market isn’t on TV — it’s at screens near points of sale. Television had long been the key target for advertisers, until tech companies such as Alphabet and Meta-owned platforms like Facebook began to gobble up market share. While ad dollars are rapidly shifting from traditional TV…
Elon Musk’s AI startup xAI raised $6 billion in series B funding, reaching a post-money valuation of $24 billion as investors bet big on challengers to companies like OpenAI in the intensifying AI race. The funding round was backed by investors including Andreessen Horowitz and Sequoia Capital, the company said…