AI start-up Perplexity makes surprise $34.5bn bid for Google Chrome
A US federal judge is expected to issue a ruling this month that could see Google being ordered to break up its search business. The company has said it would appeal such a ruling, saying the idea of spinning off Chrome was an "unprecedented proposal" that would harm consumers and security.Perplexity's app is among the rising players in the generative AI race, alongside more well-known platforms like OpenAI's ChatGPT and Google's Gemini.Last month, Perplexity launched an AI-powered browser called Comet. The bid marks an "important commitment to the open web, user choice, and continuity for everyone who has chosen Chrome," a spokesman for Perplexity told the BBC.As part of the proposed takeover, Perplexity said it would continue to have Google as the default search engine within Chrome, though users could adjust their settings.The firm said it would also maintain and support Chromium, a widely-used open-source platform that supports Chrome and other browsers including Microsoft Edge and Opera.Perplexity did not respond to queries on how the proposed deal would be funded. In July, it had an estimated value of $18bn.The company made headlines earlier this year after offering to buy the American version of TikTok, which faces a deadline in September to be sold by its Chinese owner or be banned in the US.Perplexity has reportedly drawn interest from technology giants including Apple and Facebook-owner Meta.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Reuters
a minute ago
- Reuters
British Gas owner Centrica enters natural gas deal with US-based Devon Energy
Aug 15 (Reuters) - British Gas owner Centrica (CNA.L), opens new tab said on Friday it has entered into a natural gas agreement with Devon Energy (DVN.N), opens new tab, in which the U.S.-based firm will supply an equivalent to five LNG cargoes per year over a 10-year term from 2028.
Reuters
a minute ago
- Reuters
Applied Materials' shares sink on weak China demand, tariff risks
Aug 15 (Reuters) - Shares of Applied Materials (AMAT.O), opens new tab tumbled nearly 14% in premarket trading on Friday after the chip equipment maker issued weak fourth-quarter forecasts on sluggish China demand, fueling concerns over tariff-related risks. The Santa-Clara, California-based company's forecast comes after similar tariff warnings from ASML Holding ( opens new tab, the world's biggest supplier of chip-making equipment, last month. CEO Gary Dickerson flagged lower visibility and increased uncertainty in the near-term, citing "wide-ranging implications for the semiconductor industry" from the dynamic policy environment, during a post-earnings investor call. China, Applied Materials' top revenue source in the July quarter, accounting for 35% of sales, has emerged as a growing risk as U.S. export restrictions weigh on new orders for chipmaking tool suppliers. "China volatility is significantly clouding visibility into core earnings potential both geopolitically and cyclically," Deutsche Bank strategists said in a note. Applied Materials expects revenue of $6.70 billion, plus or minus $500 million, for the fourth quarter, compared with analysts' average estimate of $7.33 billion, according to data compiled by LSEG. Its projected profit also came in below estimates. Some analysts, including Harlan Sur, noted that the slowdown in China demand and erratic orders from major foundry customers are "more a reflection of timing of spending rather than structural issues." The stock has risen 15.7% so far this year, compared with a 12.5% increase in the Nasdaq index (.IXIC), opens new tab and a nearly 10% gain in the S&P 500 index (.SPX), opens new tab. The company's third-quarter revenue rose 8% to $7.30 billion from a year ago, beating estimates of $7.22 billion.
Reuters
31 minutes ago
- Reuters
Global stocks near record highs as markets await Trump-Putin talks
LONDON, Aug 15 (Reuters) - Global stocks traded near record highs on Friday as investors awaited key talks between Donald Trump and Vladimir Putin over Ukraine in Alaska and for U.S. retail data that may give clues on the health of the world's biggest economy. The MSCI All Country World Index (.MIWD00000PUS), opens new tab consolidated recent gains as European stocks edged higher in early trading (.STOXX), opens new tab. The index was last up 0.2% at 953.4, just shy of the record level of 954.21 set on Wednesday. Wall Street futures were also up slightly around 0.1-0.2%. , The White House has said the Trump-Putin meeting will take place at 11 a.m. Alaska time (1900 GMT), with the U.S. president's hopes of a ceasefire agreement on Ukraine uncertain. Trump has said a second summit involving Ukrainian President Volodymyr Zelenskiy could follow if the talks go well. "There's still a small degree of risk premium in European markets because of the war. Any type of resolution will ultimately pare that back," said Shaniel Ramjee, co-head of multi-asset at Pictet Asset Management, adding that oil and other commodity prices could also react. "But I think that the market has learnt not to expect too much from these negotiations. Ultimately, Zelenskiy and the Europeans are not invited. They will need to be involved in any final negotiation." Investors are also training their sights on U.S. retail data due later, after an unexpected spike in producer price data on Thursday renewed inflation concerns and pared market expectations for Federal Reserve rate cuts this year. "What it did was to get rid of all the chat about a 50 basis point cut (in September)," said Mike Houlahan, director at Electus Financial Ltd in Auckland. The 10-year U.S. Treasury yield was flat at 4.287%, after the previous day's 5 basis point rise in the aftermath of the PPI data. The dollar index , which tracks the greenback against a basket of six major currencies, was last trading down 0.2% at 97.965. Japanese GDP data released on Friday showed the economy expanding by an annualised 1.0% in the April-June quarter, beating analyst estimates. The dollar weakened 0.4% against the yen to 147.16 . In commodities markets, Brent crude was down 0.7% at $63.52 per barrel. Gold edged up 0.2% to $3,342 per ounce. Cryptocurrency markets stabilised after bitcoin touched a record $124,480.82 on Thursday. The digital currency was last up 0.9%.
