News Highlights: Top Company News of the Day - Thursday at 7 AM ET

OpenAI Nearly Doubles Valuation to $157 Billion in Funding Round 
 

The startup behind ChatGPT raised $6.6 billion from backers including Microsoft, SoftBank and Thrive Capital.

 
Microsoft to Invest $4.8 Billion on AI, Cloud Infrastructure in Italy 
 

Microsoft plans to spend about $4.75 billion over the next two years in cloud and artificial intelligence infrastructure in Italy, as global tech companies continue to boost their footprints overseas amid a boom in demand for AI computing.

 
AI to Have Human-Level Abilities in a Few Years, SoftBank CEO Says 
 

Masayoshi Son reiterated his bullish forecasts for artificial intelligence in a speech that stressed advances made by OpenAI.

 
Tesco Lifts Guidance on Higher Sales Volumes 
 

The company said volume growth beat its expectations, paving the way for an increase to its profit outlook.

 
LGT Capital Collects $7 Billion for Private-Markets Secondary Deals 
 

Investment manager LGT Capital Partners has raised its largest pool yet to acquire stakes in private funds, a strategy benefiting from the chill that sharply higher interest rates cast on deals involving private equity and venture capital.

 
Tesla Reports First Rise in Quarterly Deliveries This Year 
 

The company's global deliveries rebounded in the third quarter, reversing earlier declines that had stoked concerns about its ability to grow its car business.

 
Bank of America customers report outage, with some seeing $0 balances in their accounts 
 

An outage at Bank of America left some of the bank's customers unable to access their accounts on Wednesday, while others saw what they said were erroneous balances of $0, according to a flood of reports on social media.

 
Levi Cuts Revenue Outlook, Mulls Sale of Dockers Brand 
 

Levi Strauss cut its revenue outlook for the year and is once again exploring the potential sale of Dockers, the latest move by CEO Michelle Gass to focus the company on its namesake brand.

 
Struggling Rental Company Sonder Tries to Dodge WeWork Plight 
 

The hotel-and-apartment rental company is renegotiating leases and partnering with a hotel group to avert the same collapse brought on by a similar model that drove WeWork into bankruptcy.

 
LVMH Took Over the Paris Olympics. Now It's Snagged Formula One. 
 

From Louis Vuitton trophy cases to Moët & Chandon on the podium, the luxury conglomerate is pulling out the stops with a 10-year sponsorship deal.

(END) Dow Jones Newswires

October 03, 2024 07:15 ET (11:15 GMT)

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