Goldman Sachs raised year-end ARR projections for Zhipu AI and MiniMax to US$2.5 billion and US$1 billion respectively, citing intense competition and new model releases in China's AI market.
President Trump demanded oil companies, including Chevron, lower gasoline prices for American consumers, criticizing them for not crediting his administration. This comes as he faces pressure over rising costs due to the US-Israel war on Iran, ahead of midterm elections.
Sydney's largest toll road operator, Transurban, will continue annual toll increases of at least 4% despite the NSW government's $850m deal for limited toll cuts on a few motorways, with the premier citing Transurban's resistance to broader reforms.
China's carmakers are struggling with narrowing profit margins due to higher raw material costs and declining market demand, exacerbated by the end of purchase subsidies and tax incentives.
Mortgage rates continued their climb last week, with the 30-year fixed rate reaching 6.69%, the highest since last August. Despite this, total mortgage demand increased by 1.9% as homebuyers returned to the market, possibly due to less competition and price cuts, while refinance demand fell.
BSH Home Appliances, a German giant, is entering India's mass market for the first time globally. By partnering with local manufacturers and reducing prices by up to 20%, the company aims to capture a larger share of this crucial segment, introducing over 350 new models.
OpenAI is reportedly considering substantial price reductions for its AI services to compete with rivals like Anthropic. The company is also preparing for a potential IPO, following a similar move by Anthropic.
OpenAI is reportedly considering significant price reductions for its AI services to compete with rival Anthropic. The move comes as Anthropic's 'Claude Code' gains traction among software engineers, surpassing OpenAI in recent valuation. Both companies are facing high operational costs and potential financial risks from aggressive pricing strategies.
Walmart plans to use tariff refunds to lower store prices, citing shopper anxiety over rising fuel costs. CFO John David Rainey noted a "stress" indicator as customers buy less gas, with lower-income consumers being more budget-conscious.
Hong Kong’s smaller grocers are bracing for pressure amid a fresh wave of price cuts by supermarkets and big retail chains, but some economists say their “neighbourhood connection” could help them stay afloat. A lawmaker also said it was unlikely the big local chains would monopolise the market citing strong competition from online shopping platforms. The latest price war erupted ahead of Mother’s Day on Sunday, with CK Hutchison-backed ParknShop and Jardine Matheson’s Wellcome each offering 12...
DeepSeek has begun limited beta testing of its new image recognition function, announced by multimodal team leader Chen Xiaokang on Wednesday. The feature is available on the company's chatbot website and mobile app, adding to existing "expert" and "flash" chat modes introduced earlier this month. The release comes days after DeepSeek unveiled its V4 flagship model followed by extensive price cuts. The Hangzhou-based startup, which gained international recognition in January 2025 for its cost-effective reasoning model, has faced criticism for lacking multimodal capabilities despite its rapid growth.
Chinese artificial intelligence start-up DeepSeek has added multimodal capabilities to its flagship chatbot for the first time – meaning that it can process images and video in addition to text – bringing it in line with rivals that already offer the function. The limited release to select users comes just days after the Hangzhou-based company released its new flagship model V4, which was followed by extensive price cuts. According to DeepSeek multimodal team leader Chen Xiaokang, who made the...
PepsiCo's quarterly earnings and revenue topped Wall Street's expectations.
