Topic: financial performance
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e& Shatters Profit Records, Expands 5G and AI Across UAE
e& reported record financial results for H1 2025, with revenues of AED 34.9 billion (up 23.3%) and net profit of AED 8.8 billion (up 60.7%), driven by digital services and a growing subscriber base. The company launched the UAE Sovereign Cloud Launchpad with AWS and the Cybersecurity Council, a b...
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Spotify and Netflix Partner on Video Podcasts
Spotify will launch video podcasts on Netflix starting early 2026, beginning in the U.S. and expanding globally, featuring content from Spotify Studios and The Ringer across genres like sports and true crime. The partnership is part of Spotify's strategic shift toward video content to enhance adv...
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UK Banking License for Revolut Delayed Over Risk Concerns
The Bank of England has delayed Revolut's full UK banking license, requiring the company to strengthen its risk management systems before final approval due to concerns over its rapid global expansion. Securing a full license would allow Revolut to offer lending services and accept deposits over ...
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Navan Defies Shutdown, Files for IPO at $6.45B Valuation
Navan has submitted revised IPO paperwork during the federal shutdown, using new SEC rules that allow automatic approval after 20 days without direct staff review, enabling it to proceed with its investor roadshow. The company plans to offer 30 million shares at $24-$26 each, potentially raising ...
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e& UAE Teams with Huawei to Launch AI-Powered 5G-Advanced Network
e& UAE has partnered with Huawei to integrate advanced AI into its 5G-Advanced core network, aiming to enhance customer experience and operational efficiency across the UAE. The deployment includes Huawei's NWDAF, MDAF, and MCF technologies, which enable proactive maintenance, predictive insights...
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Battlefield 6: A Turning Point for EA and the Series
Battlefield 6 is a critical release for Electronic Arts, with its success tied to the company's strategic direction, financial health, and a recent $55 billion privatization deal. Following the troubled launch of Battlefield 2042, EA has reorganized development under Vince Zampella and a collabor...
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Facebook Tests an AI Dating Assistant
Facebook Dating is launching an AI assistant to help users find more compatible matches by specifying partner criteria or improving their profiles, aiming for personalized suggestions over generic ones. The platform is introducing a weekly "surprise match" feature called Meet Cute to reduce swipe...
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BHM Capital Doubles Share Capital to AED 400M in Oversubscribed Rights Issue
BHM Capital doubled its share capital to AED 400 million through a heavily oversubscribed rights issue, raising an additional AED 200 million from existing shareholders. The capital increase supports the company's growth strategy, funding investments in advanced technologies, digital transformati...
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Groww, Backed by Satya Nadella, to Become First Indian Startup to Go Public After U.S.-India Move
Groww is preparing for a multi-billion dollar IPO, becoming the first Indian startup to list domestically after relocating its headquarters from the U.S. to capitalize on India's expanding capital markets. The IPO involves a secondary sale of shares by major investors and aims to raise ₹10.6 bill...
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Boeing hit with $3.1M fine over door plug blowout, safety lapses
The FAA has proposed a $3.1 million fine against Boeing for safety violations related to the January 2024 door plug incident and interference with safety officials' independence. Boeing was cited for hundreds of quality system violations at its 737 plant and a subcontractor, including presenting ...
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Via Stock Rises Slightly Above IPO Price After Slow Start
Via's IPO was priced at $46 per share, raising $493 million, with shares closing above $49 and valuing the company at $3.9 billion. The company, which provides transit optimization software to 689 cities, plans to use IPO proceeds for growth initiatives and strategic acquisitions. Via has shown s...
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Qatar Backs Anthropic's Record $13B AI Round, Valuation Hits $183B
The Qatar Investment Authority is a key participant in Anthropic's $13 billion Series F funding round, which values the AI firm at $183 billion, nearly triple its worth from six months prior. The funding round was led by Iconiq Capital with contributions from major global investors, though the UA...
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Mistral AI Hits €11.7B Valuation After Raising €1.7B
Mistral AI raised €1.7 billion, increasing its valuation to €11.7 billion, with semiconductor leader ASML contributing nearly €1.3 billion for an 11% stake and a strategic committee seat. The funding highlights Mistral AI's role as Europe's key large language model developer amid intense global c...
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Anthropic Raises $13B Series F at $183B Valuation
Anthropic has raised $13 billion in a Series F funding round, reaching a post-money valuation of $183 billion to support enterprise adoption, safety research, and global expansion. The company's annual recurring revenue surged from $1 billion to $5 billion in 2025, driven by strong API usage and ...
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Klarna Revives $1.27B IPO Plans After Market Pause
Klarna is planning an IPO to raise up to $1.27 billion, targeting a valuation as high as $14 billion and listing on the New York Stock Exchange under the ticker "KLAR". The company will issue approximately 5.6 million shares, with existing shareholders offering nearly 29 million, aiming to provid...
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Citymall Secures $47M to Take on Ultra-Fast Delivery Giants
Citymall raised $47 million in Series D funding to support its focus on value-driven grocery shoppers in smaller Indian cities, maintaining a steady valuation of $320 million. The company differentiates itself from quick-commerce competitors by targeting planned, bulk purchases with no delivery f...
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Qantas Builds Group-Wide AI Capability
Qantas is investing in a “group-wide AI capability” with planned uses so far spanning corporate and customer support, inflight catering waste and procurement. On the AI front, the airline has so far launched and scaled a “generative AI assistant for senior corporate teams with tailored training to drive productivity". It will also undertake “a full redesign of Qantas.com by the end of FY26”, which will include the integration of a “conversational AI assistant”. The planned investments in technol...
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OpenAI's GPT-6 Could Arrive Sooner Than Expected
OpenAI's GPT-6 is in development with a faster release timeline than previous models, focusing on advanced personalization and memory retention for more tailored user interactions. The company is addressing privacy concerns by considering future encryption for user data and aligning with regulato...
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Mike Cagney Returns to Public Markets with Figure's IPO Filing
Figure Technology, a blockchain lending firm, has filed for an IPO on Nasdaq with Goldman Sachs, Jefferies, and BofA Securities leading the underwriting, though share and pricing details are not yet disclosed. The company reported a 22.4% revenue increase to $191 million and a profit of $29 milli...
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Paytm secures key regulatory win after investor exit
Paytm secured RBI approval to operate as an online payment aggregator, enabling it to onboard new merchants and process digital transactions after resolving compliance issues. Ant Group sold its remaining 5.8% stake in Paytm’s parent company, aligning with India’s foreign investment rules, as Pay...
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Airbnb CEO: AI Agents Won't Replace Google
Airbnb CEO Brian Chesky stated that AI, while promising, is not yet a replacement for traditional search engines like Google, tempering expectations about AI chatbots competing directly with them. Chesky highlighted the lack of proprietary exclusivity in current AI models, allowing Airbnb to inte...
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Mark Zuckerberg Unveils Meta’s Superintelligent AI Roadmap
Meta is launching Meta Superintelligence Labs to develop self-improving AI systems aimed at surpassing human intelligence, positioning itself against competitors like OpenAI and Google DeepMind. Smartglasses, including next-gen AR prototypes, are central to Meta's AI strategy, with plans to make ...
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Nvidia Hits $4 Trillion Market Cap First in History
Nvidia became the first company to reach a $4 trillion market valuation, driven by an 18% stock surge in 2024 and rapid growth from $2 trillion to $3 trillion earlier in the year. Analysts credit Nvidia's dominance in AI, powering data centers for major tech firms, with record profits of $18.8 bi...
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Victoria’s Secret Recovers From Cyberattack, Restores Key Systems
Victoria’s Secret has restored critical systems after a late May cybersecurity breach, with no expected major financial impact, though the full scope is still being assessed. The company delayed its first-quarter earnings release due to the breach but maintains strong financial projections, with ...
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Chime’s $14.5B IPO After 100 VC Rejections in 2016
Chime achieved a $14.5 billion valuation in its IPO, raising $864 million with shares surging to $42 at opening, reflecting strong investor confidence. The neobank reported revenue growth from $1.3 billion in 2023 to $1.7 billion in 2024, narrowing losses and briefly turning a profit in early 202...
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Reddit’s AI Strategy Targets Google Users, Not Just Scrollers
- Reddit is focusing on attracting casual browsers and active seekers of answers, with CEO Steve Huffman emphasizing the role of Reddit Answers, an AI-powered chatbot, in providing quick, reliable information.
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Apple Faces $900M Tariff Hit as Production Shifts to India and Vietnam
Apple is bracing for a $900 million increase in costs this quarter due to U.S. tariffs on Chinese imports, CEO Tim Cook revealed during the company's latest earnings call. To mitigate the impact, Apple is accelerating its shift in production from China to countries like India and Vietnam.
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