US Commerce Secretary Howard Lutnick announced the Trump administration's plan on August 19, 2025. The government intends to convert federal funding pledged to Intel under the CHIPS Act into an equity stake. According to Bloomberg, the planned 10% stake would make the US government Intel's largest
One of the world's largest consulting firms, McKinsey & Company, is confronting a serious challenge as AI increasingly demonstrates the ability to perform traditional consulting tasks faster and at lower cost. Kate Smaje, a senior partner leading McKinsey's AI initiatives, acknowledged to The Wall Street Journal
AI-based search engine Perplexity made an unsolicited offer on August 12, 2025, to purchase Google's Chrome browser for $34.5 billion in cash, a figure more than twenty-two times the total investment capital the company has raised to date. Perplexity promised to keep Chrome's underlying engine,
AI-based search engine developer Perplexity is launching another funding round at a $20 billion valuation, representing a $2 billion increase from the company's July 2025 valuation of $18 billion, Business Insider reported on August 13, 2025. The startup, founded in 2022, has seen its value rise dramatically, from
On 23rd May 2025, Perplexity officially launched Perplexity Labs, an early-access environment specifically developed for business users that enables them to create customised AI solutions with their own organisational data. The system is built on a proprietary 100 billion parameter language model called Perplexity Labs LLM, which offers functionality significantly
