Business

The New York Times Company is discussing the acquisition of the social platform for movie lovers, Letterboxd, for approximately $330 million. The parties are in exclusive negotiations, but no agreement has been reached yet. If the deal goes through, the service may continue to operate under its own brand, and its founders may retain leadership positions.

According to BCG Institute, by 2030, the AI ecosystem will need approximately $2.6 trillion in annual spending on data centers, chips, model development, and returns to investors. Of this, $1.8 trillion should come from enterprises. The estimate does not include China.

Marvell Technology has agreed to acquire the optoelectronic component manufacturer Lumentum for $115 billion. According to Bloomberg, the deal was approved by Nvidia CEO Jensen Huang. Marvell's shares fell nearly 13% on Monday, while Lumentum's dropped almost 19%.

According to Gartner, only 3% of organizations exceed their targets for cost reduction through productivity. Meanwhile, 85% of companies plan to increase spending on AI by 2027, and 78% of executives have not agreed on where the technology creates value.

Luxor Technology has announced a successful funding round of $16 million to expand its business in AI computing. The funds will be used to develop its cloud platform and hardware.

eBay announced the layoff of 1,000 employees despite improved financial forecasts.

Tarek Mansour warned about the potential forcing of prediction markets offshore under government control at the DC Fintech Week event.

The Bank of Korea stated that stablecoins should be managed by private companies, not the central bank.

Armenia is creating an artificial intelligence law involving 30 experts from the business sector.

The OUSD stablecoin is available for companies and developers. More than 200 organizations have joined the initiative.