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Colin Huang: The rise of China’s new richest man and the Temu phenomenon

Colin Huang, the founder of Temu and Pinduoduo, has recently been crowned as China’s richest man, with a net worth of $48.6 billion, according to the Bloomberg Billionaires Index. His rise to the top marks a significant shift in China’s billionaire rankings, as he surpasses long-time titleholder Zhong Shanshan, the bottled-water magnate behind Nongfu Spring.… Continue reading Colin Huang: The rise of China’s new richest man and the Temu phenomenon

Hargreaves Lansdown accepts $6.9 billion takeover offer of CVC consortium

British investment firm Hargreaves Lansdown announced on Friday that it has agreed to a £5.4 billion ($6.9 billion) takeover offer from a consortium of investors led by private equity majors CVC Group and Nordic Capital, also including Abu Dhabi’s sovereign wealth fund.  The announcement ends months of uncertainty about the future of Britain’s biggest DIY investment platform.… Continue reading Hargreaves Lansdown accepts $6.9 billion takeover offer of CVC consortium

SoundHound stock surges 18% following acquisition of Amelia AI: Good time to buy?

SoundHound AI saw its stock price jump by 18% today after announcing the acquisition of Amelia AI in an all-cash deal.  This strategic move has sparked renewed investor interest, as SoundHound positions itself to expand its capabilities and market reach, particularly in the growing field of artificial intelligence (AI). What is Amelia AI? Amelia AI… Continue reading SoundHound stock surges 18% following acquisition of Amelia AI: Good time to buy?

Palantir shares surge 6% following strategic partnership with Microsoft

Palantir Technologies saw a 6% surge in its stock price on Thursday following the announcement of a strategic partnership with Microsoft.  This collaboration aims to enhance secure cloud, analytics, and artificial intelligence (AI) capabilities for the US defense and intelligence communities, reinforcing Palantir’s strong presence in the government sector. Palantir, renowned for its advanced software… Continue reading Palantir shares surge 6% following strategic partnership with Microsoft

Plug Power posts disappointing Q2 earnings as stock prices tumble: Is now the time to buy?

Plug Power (NASDAQ: PLUG) is grappling with a significant revenue plunge as its stock price hits new lows.  In its Q2 earnings report released today, the company revealed a 44.9% drop in revenue, totaling $143.4 million for the quarter.  The company’s stock fell 2% in trading following the announcement.  Despite a slight improvement in earnings… Continue reading Plug Power posts disappointing Q2 earnings as stock prices tumble: Is now the time to buy?

UK regulator investigates Amazon’s $4 billion investment in AI firm Anthropic

The Competition and Markets Authority (CMA) has launched a formal investigation into Amazon’s multibillion-dollar investment in the US artificial intelligence firm Anthropic. The probe aims to determine whether the partnership could potentially harm competition in the UK. The CMA announced on Thursday that it has initiated a “Phase 1” investigation to assess if the Amazon-Anthropic… Continue reading UK regulator investigates Amazon’s $4 billion investment in AI firm Anthropic

Jim Cramer predicts further gains for Robinhood stock: Here’s why

Renowned investor Jim Cramer is optimistic about Robinhood’s future, predicting further gains for the stock in the coming days. Despite a modest rise in Robinhood Markets Inc.’s stock price on Thursday, the company’s recent earnings report exceeded Wall Street’s expectations for Q2.  Robinhood Q2 earnings report  Robinhood’s second-quarter performance showcased a robust 69% year-over-year growth… Continue reading Jim Cramer predicts further gains for Robinhood stock: Here’s why