Exploring Major Movements in the Tech Industry: Tesla, OpenAI, and LVMH Take Center Stage
OpenAI's Funding Milestone
OpenAI has gathered over $6.5 billion in new funding, raising its valuation to more than $150 billion as the company continues to spearhead in the development of generative AI technology. This marks one of the largest private investments ever, positioning OpenAI among the top three venture-backed startups, alongside SpaceX and TikTok owner ByteDance Ltd., according to sources familiar with the deal.
Pfizer's Strategic Stake Sale
US drugmaker Pfizer offloaded part of its stake in British consumer healthcare company Haleon worth approximately $3.26 billion, reducing its ownership in the Sensodyne toothpaste maker from 22.6 percent to 15 percent. Despite the stake sale, Pfizer still remains the largest shareholder in Haleon.
Tesla's Competitive Challenges
Tesla's third-quarter report for 2024 revealed vehicle production of 469,796 units and deliveries of 462,890 units, slightly missing analysts' expectations of 463,310 deliveries. The stock fell by as much as 3.7 percent following the earnings report, as Tesla continues to face growing competitive pressure, particularly in China.
New Partnership in F1
Liberty Media-owned Formula One and luxury giant LVMH have announced a 10-year partnership, set to begin with the next F1 season. The collaboration will feature hospitality, bespoke activations, and outstanding content, reflecting F1's growing commercial vision.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.