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Nebius plans $4.5 billion convertible debt sale to fund data centers, AI platform
Reuters38d agoneutral
Nebius plans $4.5 billion convertible debt sale to fund data centers, AI platform

AI cloud provider Nebius Group said on Wednesday it plans to raise $4.5 billion ‌through an offering of private convertible notes, ‌as it seeks to ramp up investments in data centers and ​computing capacity. • ⁠Proceeds from the offering will be used to expand data center capacity, invest in the company's full-stack AI ​cloud platform ​and acquire GPUs and ​other key components needed ‌to support growth. • Nebius shares were down more than 7% in premarket trading.

Wall Street heads into midweek directionless as traders eye Fed minutes
Proactive38d agoneutral
Wall Street heads into midweek directionless as traders eye Fed minutes

Ding, dong. And good morning. Wall Street is limping toward the midpoint of a rough week, and Wednesday is not offering much of a hand up. Futures for the Dow and S&P 500 are loitering around the flat line, while the Nasdaq-100 is nudging slightly higher. Nobody looks in a hurry to...

Meta’s Trial Puts Big Tech’s Duty of Care Under the Microscope
The Wall Street Journal38d agoneutral
Meta’s Trial Puts Big Tech’s Duty of Care Under the Microscope

A federal trial against Meta Platforms is putting the company’s approach to child safety and data practices under scrutiny, as plaintiffs argue that its platforms were designed in ways that harmed young users. The case is one of the most significant tests yet of how courts and regulators evaluate responsibility for the design of large consumer platforms. For cybersecurity and privacy leaders, the case highlights how data governance risks are evolving.

Moderna, Merck Stock Jumps on Melanoma Vaccine News
The Wall Street Journal38d agoneutral
Moderna, Merck Stock Jumps on Melanoma Vaccine News

An experimental mRNA-based vaccine succeeded in preventing cancer from coming back or spreading in a study of high-risk melanoma patients, Moderna and its partner Merck said. Shares in Moderna jumped about 10% premarket, while Merck also climbed around 6%.

Estee Lauder Narrows Loss as Sales Climb
The Wall Street Journal38d agoneutral
Estee Lauder Narrows Loss as Sales Climb

The Estee Lauder Companies narrowed its fiscal fourth-quarter loss on higher sales, as the company’s turnaround continued to pick up steam.

Target’s comeback quarter: New merchandise, more shoppers and a $994M tariff refund
Associated Press38d agoneutral
Target’s comeback quarter: New merchandise, more shoppers and a $994M tariff refund

Target reported its second straight quarter of comparable sales gains on Wednesday, saying a merchandising overhaul under the retailer's new CEO is attracting more customers and boosting sales throughout its stores. Comparable sales — those coming from stores and digital channels operating for at least 12 months —rose 3.8% in the second quarter. Target is emerging from more than a year of weak or declining comparable sales.