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Amazon bringing faster delivery to thousands of small towns and cities
CNBC· 2025-06-24 12:51
A worker unloads boxes from an Amazon delivery van in San Francisco on Oct. 24, 2024.Amazon is expanding its rapid delivery machine to more rural corners of the U.S.The company said Tuesday it plans to bring same- or next-day delivery to more than 4,000 smaller cities, towns and rural communities across the country "for the first time" by the end of this year.The move is part of a previously announced small-town expansion that will see Amazon spend roughly $4 billion by the end of 2026 to triple the size of ...
Uber, Waymo robotaxi service opens to passengers in Atlanta
CNBC· 2025-06-24 11:00
Group 1 - Uber and Waymo are expanding their partnership by offering robotaxi rides to the public in Atlanta, covering approximately 65 square miles, but not on highways or to the airport [1] - The Waymo robotaxis utilize the Waymo Driver technology integrated into battery electric Jaguar I-PACE SUVs [1] - In September, the companies announced plans to jointly bring Waymo One to Austin, Texas, with rides available in Austin since March [2] Group 2 - Tesla has launched a pilot robotaxi service in Austin for invitees only, using Model Y SUVs equipped with its latest driverless technology [3] - Tesla's robotaxis operate only during daytime hours in a geofenced area and include a human valet for safety [3] - Waymo's robotaxis operate without a human supervisor and utilize advanced lidar and radar sensors, unlike Tesla's vehicles [4] Group 3 - In Atlanta and Austin, Waymo rides are exclusively available through the Uber app, while in San Francisco and Los Angeles, bookings are made through the Waymo One app [5] - The partnership between Waymo and Uber focuses solely on passenger rides, excluding Uber Eats deliveries [5]
Google could face changes to search in the UK as regulators crack down
CNBC· 2025-06-24 10:35
Group 1 - Google may face changes to its online search services in the U.K. due to regulatory concerns over its market dominance [1] - The Competition and Markets Authority (CMA) is consulting on a proposal to grant Google "strategic market status" under new competition rules [1] - The CMA has been empowered with expanded competition and merger control powers following the implementation of the Digital Markets, Competition and Consumers Act [2] Group 2 - The Digital Markets, Competition and Consumers Act allows the CMA to enforce consumer protections on tech giants and impose fines of up to 10% of global annual revenues for violations [2] - This legislation is similar to the European Union's Digital Markets Act, indicating a trend towards stricter regulation of major tech firms [2]
Amazon to invest £40 billion in the UK over next three years
CNBC· 2025-06-24 09:19
Group 1 - Amazon will invest £40 billion ($54 billion) in the U.K. over the next three years [1] - The investment will be allocated to building four new fulfillment centers and upgrading existing operations [1] - This move is part of Amazon's strategy to enhance its logistics and delivery capabilities in the U.K. [1] Group 2 - The British government welcomed the investment as it seeks to attract major tech investments to boost domestic growth [2] - U.K. Prime Minister Keir Starmer stated that the investment would create thousands of new jobs [2] - The announcement comes amid a backdrop of a 0.3% contraction in U.K. monthly gross domestic product in April [2]
Goldman Sachs and Citadel back crypto firm Digital Asset in $135 million funding round
CNBC· 2025-06-24 09:00
Group 1 - Digital Asset has raised $135 million in funding from major financial institutions, indicating a growing interest in the cryptocurrency sector [1] - The funding round was co-led by DRW and Tradeweb, with participation from Goldman Sachs, BNP Paribas, and Citadel Securities [1] - This investment reflects how large financial institutions are increasingly integrating into the cryptocurrency market, which was previously viewed as risky and unregulated [1] Group 2 - Digital assets have transitioned from being associated with fraud and illicit activities to becoming a more mainstream asset class, with significant players like JPMorgan Chase and Goldman Sachs entering the space [2] - JPMorgan recently launched its own stablecoin, named "JPMD," further demonstrating the bank's commitment to digital assets [2]
Tesla robotaxi incidents caught on camera in Austin draw regulators' attention
CNBC· 2025-06-23 22:54
A Tesla robotaxi drives on the street along South Congress Avenue in Austin, Texas, on June 22, 2025Tesla was contacted by the National Highway Traffic Safety Administration on Monday after videos posted on social media showed the company's robotaxis driving in a chaotic manner on public roads in Austin, Texas.Elon Musk's electric vehicle maker debuted autonomous trips in Austin on Sunday, opening the service to a limited number of riders by invitation only.In videos shared widely on social media, one Tesla ...
Meta approached AI startup Runway about a takeover bid before Scale deal
CNBC· 2025-06-23 21:45
Meta spoke with artificial intelligence startup Runway about a potential takeover ahead of its multibillion-dollar investment in Scale AI, CNBC confirmed on Monday.Runway is best known for its AI video generation tools and earned a spot on CNBC's Disruptor 50 list earlier this month. The deal talks between Meta and Runway did not progress far and dissolved, according to a person familiar with the matter who asked not to be named due to the confidential nature of the discussions.Bloomberg earlier reported th ...
U.S. House tells staffers not to use Meta's WhatsApp
CNBC· 2025-06-23 18:06
Meta is pushing back against a ban on WhatsApp from government devices.The Chief Administrative Officer (CAO) of the U.S. House of Representatives told staffers on Monday that they are not allowed to use Meta's popular messaging app. The CAO cited a lack of transparency about WhatsApp's data privacy and security practices as the reason for the ban, according to a report by Axios that cited an internal email from the government office.The CAO told House staff members in the email that they are not allowed to ...
Super Micro shares fall on planned $2 billion convertible debt offering
CNBC· 2025-06-23 18:00
Super Micro Computer shares fell about 6% on Monday after the server maker said it plans to offer $2 billion in convertible notes, maturing in 2030. A company's stock often falls on the announcement of a convertible offering because the eventual conversion to equity could dilute existing shareholders' stakes. Super Micro, which has seen its business boom due to soaring demand for Nvidia's artificial intelligence processors, said in a press release that it plans to use the proceeds from the offering for "gen ...
Tech stocks, including Apple, were safety trade during Covid, but this market is different
CNBC· 2025-06-23 15:27
It's Apple that's no longer acting like the stock that in recent years had seemed to function as the equities market's closest thing to a bond. The recent gap is Apple's worst relative performance to its own sector fund since December 2002, according to CNBC research. It's the only of the so-called "Magnificent 7" tech stocks to recently trade below both its 50- and 200-day moving averages.But that doesn't mean tech hasn't bounced back strongly from the early 2025 tariff-triggered selloff. The SPDR Info Tec ...