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April 22, 2024

Weekend Business News Roundup February 17, 2024

Weekend Business News Roundup February 17, 2024

Photo: Justin Sullivan (Getty Images), f11photo (Getty Images), Siegfried Layda (Getty Images), REUTERS/Aly Song (Reuters), Larry Busacca (Getty Images), Matt Cardy (Getty Images), Dado Ruvic (Reuters), Illustration: Dado Ruvic (Reuters), Dado Ruvic (Reuters)

Photo: Justin Sullivan (Getty Images)

After Taco Bell dropped its entire 2024 menu plan like it was a new iPhone release, you’d think the chain wouldn’t be too worried about being upstaged by its competition. But according to a new report from Restaurant Dive, there’s an underdog in the fast food taco space ready to challenge Taco Bell’s nationwide footprint: Del Taco has announced major expansion plans and has its sights set on supremacy. – Angela L. Pagán / The Takeout Read More

There aren’t many Ivy League schools, but they have an outsized influence on society.
Photo: f11photo (Getty Images)

At the University of Pennsylvania, undergraduate students in its school of engineering will soon be able to study for a bachelor of science degree in artificial intelligence. – Michelle Cheng Read More

Illustration: Dado Ruvic (Reuters)

Just seven years after being founded, OpenAI’s annual run rate—a measure of one month’s revenue multiplied by 12—hit the $2 billion revenue mark in December 2023, two people familiar with the knowledge told the Financial Times. That puts the AI startup among a handful of companies, including Google and Meta, to have made billions in revenue within just a decade of existence. – Michelle Cheng Read More

U.S. law is very strict on “No Smoking” signs in planes even though it banned smoking on all planes in 2000.
Photo: Siegfried Layda (Getty Images)

After causing a stir by mysteriously grounding its new Airbus A321neo planes on Monday, United Airlines wants people to know the decision has nothing to do with safety and isn’t even that exciting. Rather, it has to do with the aircrafts’ “No Smoking” signs, which are required by a 1990 law to be operated by the flight crew. – Jody Serrano / Gizmodo Read More

Photo: REUTERS/Aly Song (Reuters)

Tesla cut the price of its Model Y by $1,000 this month to a starting price of $35,490, saying prices will go back up in March. Tesla CEO Elon Musk posted on X the $1,000 cut is an “incentive” because “most people don’t love to buy cars in the middle of winter.” – Britney Nguyen Read More

Arm designs chips for semiconductor companies.
Illustration: Dado Ruvic (Reuters)

In the slew of tech company earnings reports last week, companies such as Palantir and Arm pointed to how AI is increasing their revenue. And that made investors happy, with both stocks soaring after. After all, amid so much AI hype last year, Nvidia and Microsoft were the only companies that could show how AI was actually lifting revenue. – Michelle Cheng Read More

Jimmy Finkelstein, owner of The Messenger, at an event for the Hollywood Reporter in 2012.
Photo: Larry Busacca (Getty Images)

Big name news outlets such as The Wall Street Journal and CBS News have announced layoffs in recent weeks, while news startup The Messenger went belly-up — a signal that the decades-long decline of journalism is only worsening. – Laura Bratton Read More

Taylor Swift and Beyoncé tours helped drive Lyft rides to stadiums up 35% year-over-year.

Taylor Swift and Beyoncé’s massive stadium world tours helped boost rides on Uber and Lyft in 2023. Both companies have highlighted the bumps they’ve seen in rides thanks to the pop stars. – Bruce Gil Read More

Photo: Matt Cardy (Getty Images)

Carmaker names are not nearly as celebrated as carmaker logos but they’re just as rich in heritage, both good and bad. Automobiles have been around since the late 1700s, but they didn’t take off until after the Industrial Revolution. World Wars I and II would catapult auto manufacturing into what we know today: a landscape dominated by Volkswagen, Toyota, General Motors and Ford. – José Rodríguez Jr. / Jalopnik Read More

Nvidia keeps going up.
Photo: Dado Ruvic (Reuters)

On Monday (Feb. 12), Nvidia — the AI chipmaker of choice for big tech and AI startups — sailed past Amazon in market value to become the fourth most valuable US-listed company. The AI chipmaker was valued at $1.82 trillion, compared to $1.81 trillion for Amazon, according to LSEG data and cited by Reuters. The last time Nvidia was more valuable than the retail giant was in 2002 when both companies were smaller relatively, both just being worth under $6 billion. – Michelle Cheng Read More

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