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NewsBuilder.ai, an AI startup backed by Microsoft and the Qatar Investment Authority, is undergoing an audit by two Big Four firms after a 25% cut in its revenue estimates for H2 2024 due to poor sales performance. Concerns have been raised by former employees about inflated sales figures, prompting newly appointed CEO Manpreet Ratia to emphasize the need for operational improvements and enhanced transparency. Despite challenges in Australia and Southeast Asia, the company projects a revenue increase to US$170 million in 2024, up from US$140 million in 2023.
OpenAI has secured $40 billion in a funding round led by SoftBank, boosting its valuation to $300 billion. This funding, the largest in AI history, includes $10 billion already invested, with the remaining $30 billion expected by the end of 2025. Notable contributors include Microsoft, Coatue, Altimeter, and Thrive Capital.
Microsoft has closed its IoT & AI Insider Lab in Shanghai, marking a significant reduction in its operations in China amid rising geopolitical tensions. The lab, operational since May 2019, supported 258 projects and trained nearly 10,000 professionals but has been inactive since early 2024. Despite its long presence, Microsoft's revenue from China represents only 1.5% of its global earnings.
Arm Holdings aims to increase its share of the global data center CPU market to 50% by 2025, up from approximately 15% in 2024, driven by the growing demand for AI technologies. The company's energy-efficient CPUs are essential for managing operations in AI systems, with major firms like Amazon, Google, and Microsoft adopting Arm technology. Notably, Amazon has reported that over half of its chips deployed in the last two years were designed using Arm's technology.
Presight has partnered with Microsoft to launch the AI-Startup Accelerator in the UAE, aimed at supporting AI startups in their commercial development. The initiative provides access to technology resources, mentorship, and potential venture funding, leveraging Microsoft's Founders Hub and Presight's global markets. Applications for the program close on April 10, 2025.
Elon Musk announced plans for the Department of Government Efficiency (DOGE) to investigate how certain members of Congress have amassed significant wealth despite modest salaries. He raised concerns about potential financial misconduct involving funds from the US Agency for International Development, suggesting a circuitous route of money that may benefit lawmakers. Musk's visit to Wisconsin also included support for conservative judicial candidate Brad Schimel, where he distributed $1 million checks to draw attention to his campaign against "activist judges."
Goldman Sachs has increased the probability of a US recession to 35%, citing the impact of tariff increases under the Trump administration and a weaker growth outlook. This adjustment reflects growing concerns about the economic landscape and its potential challenges.
US markets are under pressure as fears of a trade war escalate with President Trump's impending tariffs affecting all countries. The Dow Jones and Nasdaq 100 indices have seen significant declines, while gold prices soar amid geopolitical tensions. Vaccine stocks also suffered, with Moderna and Biontech experiencing sharp losses.
Asian shares plummeted on Monday, with Tokyo's Nikkei 225 dropping over 4% following a significant retreat on Wall Street, driven by fears of worsening inflation and a slowing U.S. economy amid escalating trade tensions. The S&P 500 experienced its worst day in two years, falling 2%, while consumer pessimism about future finances surged, raising concerns about a potential stagflation scenario. As markets brace for upcoming tariff announcements, oil prices and U.S. futures also declined.
Elon Musk's xAI has acquired the social media platform X for $33 billion, consolidating his power across multiple ventures. The all-stock deal, which values xAI at $80 billion, aims to enhance the integration of data and AI models, particularly for Musk's Grok chatbot. Despite the merger, details on investor compensation and leadership integration remain unclear, while Musk faces ongoing legal challenges related to his previous Twitter acquisition.
Microsoft Corporation
Companies
| Symbol | MSFT |
| Name | Microsoft Corporation |
| Currency | USD |
| Sector | Information Technology |
| IndustryGroup | Software & Services |
| Industry | Software |
| Market | NASDAQ Global Select |
| Country | United States |
| State | WA |
| City | Redmond |
| Zipcode | 98052-6399 |
| Website | http://www.microsoft.com |
The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
Microsoft backed AI firm faces audit and leadership changes amid revenue concerns
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