Chipmaker and Nvidia competitor Advanced Micro Devices (AMD) has agreed to acquire World Labs, led by Fei-Fei Li, in an $8.2 billion all-stock deal.
“Building the compute platforms for the next generation of AI requires a deep understanding of how models are evolving,” said AMD CEO Lisa Su. “Fei-Fei and the World Labs team bring exceptional research leadership and model expertise. Together, we can use that insight to develop the hardware, software and systems that will power the next generation of AI and strengthen the open AI ecosystem.”
The purchase is expected to close before the end of the year.
Shares are little changed in after-hours trading.
It took a couple of hours, but as sure as night follows day, an earlier report of progress on stopping the war against Iran has been denied.
“An informed Iranian official has told Press TV that reports published by some news outlets about Iran showing flexibility over its nuclear position are false,” posted Press TV minutes ago.
“The official said the US government is ‘stuck’ in the Strait of Hormuz and is raising the nuclear issue to deflect attention from the problem.”
Oil and interest rates are back on the rise, with stocks sinking into the close and bitcoin slumping back to $83,000.
Michael Saylor’s Strategy’s MSTR$160.75·Market Closed high-yielding (12% currently) perpetual preferred stock STRC continues to edge higher, hitting $99.30 on Monday, its strongest level in about four months.
The price had plunged nearly all the way to $70 during the June panic and has been on a steady climb since, aided by the recovery in the price of bitcoin and Strategy’s repurchases.
The $100 level is important not just psychologically; it would also mean that Saylor and team can restart issuing STRC rather than repurchasing it, with proceeds used to buy additional bitcoin.
The preferred stock of Strategy’s far-smaller peer Strive ASST$29.66·Market Closed, SATA (yielding 13%), has been trading at or above $100 for several weeks, allowing that company to raise funds with issuance and make aggressive buys of bitcoin.
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