A group including BlackRock, Nvidia and Microsoft is buying Aligned Data Centers in an approximately $40 billion deal in an effort to expand next-generation cloud and artificial intelligence infrastructure. The transaction is the first deal for the investment consortium, which is named the Artificial Intelligence Infrastructure Partnership. The consortium has an initial target of mobilizing [...]
A Florida judge this week temporarily blocked the planned transfer of downtown Miami land for President Donald Trump’s future presidential library. The move by Circuit Judge Mavel Ruiz came after a Miami activist alleged that officials at a local college violated Florida’s open government law when they gifted the real estate to the state, which [...]
HONG KONG (AP) — China’s Commerce Ministry said it was banning dealings by Chinese companies with five subsidiaries of South Korean shipbuilder Hanwha Ocean in the latest swipe by Beijing at President Donald Trump’s effort to rebuild the industry in America. The ministry also announced that it was investigating a probe by Washington into China’s [...]
NEW YORK (AP) — Retailers are forecast to reduce or delay plans to hire seasonal workers who pack orders at distribution centers, serve shoppers at stores and build holiday displays during the biggest selling season of the year. American Christmas LLC, which creates elaborate holiday installations for commercial properties such as New York’s Rockefeller Center [...]
General Motors will record a negative impact of $1.6 billion in its next quarter after tax incentives for electric vehicles were slashed by the federal government and rules governing emissions are relaxed. The EV tax credit ended last month. The clean-vehicle tax credit was worth $7,500 for new EVs and up to $4,000 for used [...]
OpenAI this week said it is working with chipmaker Broadcom to design its own artificial intelligence computer chips. The two California companies didn’t disclose the financial terms of the deal but said they will start deploying the new racks of customized “AI accelerators” late next year. It’s the latest deal between OpenAI, maker of ChatGPT, [...]
NEW YORK (AP) — Cabinet dealers, interior designers and remodeling contractors in the United States say they hope new tariffs on imported kitchen cabinets, bathroom vanities and upholstered wooden furniture implemented this week will create more business for them and eventually boost domestic production of those products. Several small business owners in the home improvement [...]
CLEVELAND (AP) — Mayor Justin M. Bibb and the ownership group of the Cleveland Browns have reached a $100 million settlement that will clear the way for the franchise to build its new suburban stadium while preparing the site of the current lakefront stadium for future development by the city of Cleveland. The proposed $2.4 [...]
The founder and CEO of Cleveland-based First Brands resigned this week, weeks after the auto parts supplier filed for bankruptcy protection amid an accounting scandal that has left lenders scrambling for more than $2 billion in missing funds. Patrick James, who founded the company in 2013, will be replaced on an interim basis by Charles [...]
JPMorgan Chase will directly invest up to $10 billion in American companies with ties to national security. The investment plan revealed this week will focus on four areas: supply chain and advanced manufacturing in critical minerals, pharmaceutical precursors and robotics; defense and aerospace; energy independence, with investments in battery storage and grid resilience; and strategic [...]