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Elon Musk’s xAI Raises $6 Billion in Equity Financing to Compete in the AI Market

On Thursday, Elon Musks artificial intelligence startup, xAI, revealed that it had raised over $6 billion in equity funding, putting it in a position

On Thursday, Elon Musks artificial intelligence startup, xAI, revealed that it had raised over $6 billion in equity funding, putting it in a position to take on other significant AI companies. With this funding, xAI can add at least one million graphics processing units to its Nashville, Tennessee, supercomputer facility. xAI, founded last year, has been aggressively pursuing market share. It recently expanded its lawsuit against OpenAI, claiming that the latter is trying to monopolise the generative AI market and drive out rivals. The postraise valuation of xAI is expected to surpass $50 billion after this fundraising campaign, whereas OpenAI recently raised $6.6 billion, increasing its valuation to $157 billion. Read More..

B2B Tech News | 11 months ago        

Bitcoin Breaks $100,000 Barrier Reaches AllTime High of $103,649 Amid Crypto Optimism

Amid excitement about the U.S. administrations stance on cryptocurrencies, Bitcoin reached an alltime high of $103,649 on Thursday, breaking beyond $1

Amid excitement about the U.S. administrations stance on cryptocurrencies, Bitcoin reached an alltime high of $103,649 on Thursday, breaking beyond $100,000 for the first time. An increasing institutional interest in digital assets and Presidentelect Trumps appointment of procrypto Paul Atkins to head the SEC contributed to this milestone. This year, the value of Bitcoin has more than doubled, and the total market capitalisation of cryptocurrencies is now over $3.8 trillion. Analysts credit the approval of Bitcoin exchangetraded funds and significant institutional investments with driving the boom. Bitcoins ascent is a turning point in its development from a fringe asset to a widely used financial instrument, notwithstanding worries about energy usage and governmental monitoring. Read More..

B2B Tech News | 11 months ago        

Israel Focuses on Six Key Economic Sectors for Enhanced Collaboration with India

Israeli Economy Minister Nir Barkat thanked India for its support in the aftermath of the 7 October terror attacks and highlighted the importance of d

Israeli Economy Minister Nir Barkat thanked India for its support in the aftermath of the 7 October terror attacks and highlighted the importance of deepening bilateral ties in investment and technology. He emphasized Israels focus on six key economic sectors and proposed launching collaborative pilot projects to leverage the strengths of both nations. Special attention was given to AI and quantum technologies, where Israels cuttingedge innovation could be paired with Indias vast market scale and technical expertise to drive transformative solutions. These partnerships aim to foster mutual economic growth while addressing global challenges. Read More..

B2B Tech News | 11 months ago        

Nepal Signs New Framework Agreement with China on Belt and Road Initiative

After a failed original deal seven years ago, Nepal has inked a framework agreement with China on the Belt and Road Initiative. The agreement, which N

After a failed original deal seven years ago, Nepal has inked a framework agreement with China on the Belt and Road Initiative. The agreement, which Nepals foreign ministry announced, is anticipated to make collaborating easier on several projects, such as transit corridors and road improvements. During his first international trip since assuming office, Prime Minister K.P. Sharma Oli, now in Beijing, emphasised the significance of this agreement. Even while the deal opens the door for future improvements, Olis coalition government has expressed concerns about debt, especially from the Nepali Congress party, which is against loanfinanced projects. In the past, China gave Nepal a $216 million loan for a Pokhara International Airport with operating issues. Read More..

B2B Tech News | 11 months ago        

Biden Commits $600 Million for Lobito Corridor Railway Project in Africa

"Africa has been left behind for too long," said President Joe Biden, who pledged an additional $600 million for the Lobito Corridor railway project d

"Africa has been left behind for too long," said President Joe Biden, who pledged an additional $600 million for the Lobito Corridor railway project during his trip to subSaharan Africa. Biden highlighted the U.S. commitment to restoring 800 miles of rail across Zambia, Congo, and Angola, highlighting the projects potential to strengthen U.S. influence in an area abundant in vital minerals for renewable energy and electric vehicles. He said the route can revolutionise transportation times and help the area become a food exporter, calling it a "game changer." The Lobito Corridor, expected to generate tremendous economic advantages and employment development for the area, is considered the most significant American railway project overseas, with a total U.S. investment of $4 billion. Read More..

B2B Tech News | 11 months ago        

Meta Plans $10 Billion Investment in New AI Data Center in Louisiana

Meta Platforms announced intentions to invest $10 billion in a new AI data centre in Louisiana to expand its data centre globally. The Hyperscaler dat

Meta Platforms announced intentions to invest $10 billion in a new AI data centre in Louisiana to expand its data centre globally. The Hyperscaler data centre in Richland Parish is intended to serve digital infrastructure, especially tasks related to artificial intelligence, by handling enormous volumes of data. The announcement comes after Meta requested ideas from nuclear power developers to assist in meeting its environmental and AI goals, including increasing U.S. atomic energy capacity by 1 to 4 gigawatts in the early 2030s. Meta and Entergy will work to ensure that the centres energy needs are met and that its electricity consumption aligns with renewable energy sources. Site preparation for the data centre is anticipated to start in December and proceed until 2030. Read More..

B2B Tech News | 11 months ago        

Woodside Energy Signs EPC Contract with Bechtel for Louisiana LNG Project

Woodside Energy Group and the U.S. company Bechtel signed a contract for engineering, procurement, and construction on Thursday with their Louisiana l

Woodside Energy Group and the U.S. company Bechtel signed a contract for engineering, procurement, and construction on Thursday with their Louisiana liquefied natural gas. Three manufacturing trains totalling 16.5 million tonnes per year will have their foundations developed with the help of this EPC contract. With total planned expenditures from December through the first quarter of 2025 estimated at up to $1.3 billion, Woodside intends to make a final investment decision FID by then. According to previous projections, the foundation development will cost between $900 and $960 per tonne of LNG. This aligns with Woodsides $1.2 billion purchase of developer Tellurian Inc. in October. The project is approved for a 27.6 million tonne yearly capacity. Read More..

B2B Tech News | 11 months ago        

Qatar Announces £1 Billion Investment in UK Climate Technology During Emir’s State Visit

A portion of the £1 billion $1.3 billion Qatar intends to invest in climate technologies in the UK will go to engineering company RollsRoyce to suppo

A portion of the £1 billion $1.3 billion Qatar intends to invest in climate technologies in the UK will go to engineering company RollsRoyce to support its energy transition projects. This news was made as Qatari Emir Sheikh Tamim bin Hamad Al Thani was in Britain on a state visit. He is scheduled to meet with Prime Minister Keir Starmer. The initiative intends to build climate technology hubs and generate thousands of employment in both nations, emphasising improvements in carbon management, renewable fuels, and energy efficiency. Lower carbon technologies are crucial for facilitating the energy transition, according to RollsRoyce CEO Tufan Erginbilgic. Notable properties like the Canary Wharf and the Shard are among the Qatari Investment Authoritys substantial investments in the UK. Read More..

B2B Tech News | 11 months ago        



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1.  Global online sales are predicted to reach 22% of all retail sales in 2023.
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2.  Global tablet shipments are expected to hit 142 million by 2025, reports Statista.
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3.  Artificial Intelligence is expected to contribute $15.7 trillion to the economy by the year 2030.
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