With 92 billionaires, Mumbai ranks third behind New York and London, but ahead of Beijing, and Shanghai. Tuul & Bruno Morandi | The Image Bank | Getty Images Move over, Beijing. Mumbai is now the Asian capital with the most number of billionaires, overtaking Beijing, according to Hurun Research Institute’s global rich list. This is … Read more
OpenAI CEO Sam Altman says he has no equity in the $80 billion artificial intelligence startup he co-founded in 2015. His Reddit ownership is another matter altogether. Following Reddit’s stock market debut on Thursday, Altman’s stake in the social media site ballooned by $200 million to over $613 million. Shares of the 19-year-old company jumped … Read more
Reddit shares jumped as much as 70% in their debut on Thursday in the first initial public offering for a major social media company since Pinterest hit the market in 2019. The 19-year-old website that hosts millions of online forums priced its IPO on Wednesday at $34 a share, the top of the expected range. … Read more
Scanning QR codes with a mobile pay app has become the most common way to pay in mainland China. Bloomberg | Bloomberg | Getty Images BEIJING — Foreign visitors to China can now spend up to $2,000 a year using the mobile app Alipay without having to register their ID, the app operator said Friday. … Read more
In this photo illustration, the Reddit logo is displayed on a cell phone and computer monitor on February 13, 2024 in Los Angeles, California. Mario Tama | Getty Images Reddit is seeking a valuation of up to $6.5 billion in its upcoming IPO, according to a person familiar with the matter. The company plans to … Read more
A model of a Wisk Aero LLC electric vertical takeoff and landing (eVTOL) air taxi during the Singapore Airshow in Singapore, on Wednesday, Feb. 21, 2024. Bloomberg | Bloomberg | Getty Images SINGAPORE — Among displays of defense jets, passenger airliners and high-tech aviation equipment at the Singapore Airshow were electric air transport vehicles — … Read more
Samsung Electronics Co. Galaxy S24 smartphones during a media preview event in Seoul, South Korea, on Monday, Jan. 15, 2024. Samsung, the world’s most prolific smartphone maker, is leaning into artificial intelligence as the key to unlocking greater sales this year. Photographer: SeongJoon Cho/Bloomberg via Getty Images SeongJoon Cho | Bloomberg | Getty Images Baidu … Read more
Ma ”Pony” Huateng, chairman and chief executive officer of Tencent Holdings Ltd., speaks during the Guangdong-Hong Kong-Macao Greater Bay Area Forum in Hong Kong, China, on Tuesday, June 20, 2017. In an unusual move, Ma has chosen to convene a summit of government academics and business chieftains in Hong Kong days before the 20th anniversary … Read more
A woman waits on her bicycle to cross an intersection outside a new shopping mall in Beijing, China, on Sept. 13, 2023. Kevin Frayer | Getty Images News | Getty Images After a year of uneven and disappointing post-pandemic recovery in 2023, China’s consumer sentiment may finally start to improve this year. Last year, the … Read more
Signage for Alibaba Group Holding Ltd. covers the front facade of the New York Stock Exchange November 11, 2015. Brendan McDermid | Reuters BEIJING — It’s been a tumultuous 12 months for Alibaba, casting doubt on the future of the tech giant just as artificial intelligence is taking off. The company’s cloud computing unit was … Read more