Latest news with #JubyBabu
Time of India
10-07-2025
- Business
- Time of India
Meta buys 3 per cent stake in Ray-Ban parent co; shares jump
By Elisa Anzolin and Juby Babu Shares in EssilorLuxottica , the maker of Ray-Ban glasses, jumped on Wednesday after reports that Meta Platforms had acquired a stake of nearly 3% in the Franco-Italian company. The shares, which are listed in Paris, rose 5.4% to 252 euros by 0925 GMT, the biggest gainer on the pan European STOXX 600 index. Facebook-parent Meta, which has a partnership with the company for the production of smartglasses, has acquired a nearly 3% stake in the eyewear maker, a source told Reuters on Tuesday. Bloomberg said that Meta had bought a stake worth around 3 billion euros ($3.5 billion) in EssilorLuxottica and is considering further investments that could build its holding to around 5% over time. EssilorLuxottica declined to comment, while Meta did not immediately respond when contacted by Reuters. "The investment should be read as a vote of confidence in EssilorLuxottica in the smart-glasses opportunity," said analysts at Bernstein. Last year both EssilorLuxottica and Meta confirmed they discussed a potential investment by Meta in the company, after the Wall Street Journal reported the U.S. group was in talks to buy a 5% stake. In September Meta CEO Mark Zuckerberg said it would have been a "symbolic" gesture to cement their long-term partnership. Sprucing up its wearable technology with artificial-intelligence capabilities could help Meta attract new users as it invests billions of dollars in bolstering its AI infrastructure. The social media giant announced earlier this year it teamed up with Oakley, another EssilorLuxottica brand, to release AI-powered smart glasses , expanding its push into wearable tech after the success of Ray-Ban Meta glasses, millions of which have been sold since their launch in 2023. The "Oakley Meta HSTN" will feature a hands-free high-resolution camera, open-ear speakers, water resistance and Meta AI capabilities. EssilorLuxottica planned to boost its production capacity for smart glasses and hopes to expand its collaboration with Meta to other brands, Chief Executive Francesco Milleri had said in February.
Yahoo
08-07-2025
- Business
- Yahoo
Meta takes around 3% stake in Ray-Ban-parent EssilorLuxottica, source says
By Elisa Anzolin and Juby Babu (Reuters) -Meta Platforms has acquired a nearly 3% stake in eyewear maker EssilorLuxottica, a source told Reuters on Tuesday, amid growing consumer interest in AI-powered wearable devices. Sprucing up its wearable technology with artificial-intelligence capabilities could help Meta attract new users as it invests billions of dollars in bolstering its AI infrastructure. EssilorLuxottica declined to comment, while Meta did not immediately respond when contacted by Reuters. Meta bought a stake worth around 3 billion euros ($3.52 billion) in EssilorLuxottica at the current market price and is considering further investments that could build its share to around 5% over time, according to Bloomberg News, which reported the development earlier in the day. The social media giant teamed up with Oakley to release AI-powered smart glasses last month, expanding its push into wearable tech after the success of Ray-Ban Meta glasses, millions of which have been sold since their launch in 2023. The "Oakley Meta HSTN" will feature a hands-free high-resolution camera, open-ear speakers, water resistance and Meta AI capabilities. EssilorLuxottica planned to boost its production capacity for smart glasses and hopes to expand its collaboration with Meta to other brands, Chief Executive Francesco Milleri had said in February. ($1 = 0.8527 euros) Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
The Star
26-06-2025
- Business
- The Star
CoreWeave in talks to buy Core Scientific, WSJ reports
A screen displays the company logo for CoreWeave, Inc., Nvidia-backed cloud services provider, during the company's IPO at the Nasdaq Market, in New York City, U.S., March 28, 2025. REUTERS/Brendan McDermid/File Photo (Reuters) -CoreWeave is in talks to buy Core Scientific, after the bitcoin miner rejected an earlier deal from the cloud provider last year, the Wall Street Journal reported on Thursday, citing people familiar with the matter. Shares of Core Scientific rose about 8% after the report, giving the company a market value of nearly $4 billion. Crypto miners use vast amounts of electricity to run their operations and are being increasingly targeted by bigger peers and AI technology companies, as they try to consolidate power supply for their energy-hungry enterprises. A deal could be finalized in the coming weeks, if talks don't face setbacks, the report said, adding that exact terms being discussed could not be learned. Core Scientific did not immediately respond to a Reuters request for comment. CoreWeave declined to comment. Core Scientific received an unsolicited non-binding proposal from CoreWeave in June last year to acquire all of the company's outstanding shares on a fully diluted basis for $1.02 billion, or $5.75 per share in cash. At the time, Core Scientific had said that the deal significantly undervalued it and was not in the best interests of the company and its shareholders. The two companies signed a series of 12-year contracts then, including an agreement under which Core Scientific would provide CoreWeave with about 200 MW of infrastructure to power its high-performance computing services. (Reporting by Juby Babu in Mexico City; Editing by Mohammed Safi Shamsi and Alan Barona)
The Star
24-06-2025
- Business
- The Star
BlackBerry raises annual revenue forecast on robust demand for cybersecurity services
FILE PHOTO: The Blackberry logo is shown on a office tower in Irvine, California, U.S., October 20, 2020. REUTERS/Mike Blake/File Photo (Reuters) -Canada's BlackBerry raised its annual revenue forecast on Tuesday, anticipating steady demand for its cybersecurity services amid growing online crimes, sending the company's U.S.-listed shares up 6% after the bell. A rise in cybercrimes and hacks has spurred companies to invest heavily in cybersecurity, benefiting firms such as BlackBerry that provide security services. Cybersecurity remains largely insulated from broader spending volatility and is likely to continue as a top investment priority for customers, analysts have said. BlackBerry now sees fiscal year 2026 revenue in the range of $508 million to $538 million, up from its earlier forecast of $504 million to $534 million. The company also raised annual revenue forecast for its secure communications segment, which provides intelligent security software to enterprises and governments. It expects revenue between $234 million and $244 million for the unit, from its prior forecast of $230 million to $240 million. The Waterloo-based company's revenue for the quarter ended May 31 stood at $121.7 million, below $123.4 million reported last year. Revenue in its QNX business rose 8.1% year-on-year to $57.5 million, while revenue from its secure communications unit fell 7.3% to $59.5 million in the first quarter. (Reporting by Juby Babu in Mexico City; Editing by Mohammed Safi Shamsi)
The Star
16-06-2025
- Business
- The Star
SoftBank seeks to raise $4.9 billion in T-Mobile share sale, Bloomberg News reports
FILE PHOTO: A T-Mobile logo is seen on the storefront door of a store in Manhattan, New York, U.S., April 30, 2018. REUTERS/Shannon Stapleton/File Photo (Reuters) -Japan's SoftBank Group Corp is looking to raise nearly $4.9 billion in an unregistered overnight block sale of T-Mobile shares, Bloomberg News reported on Monday. SoftBank is offering to sell 21.5 million shares for $224 to $228 each, Bloomberg said, citing the deal terms. Bank of America Corp is working on the deal. The sale represents a discount of more than 3% to T-Mobile's closing price of $230.99 on Monday, and the stake offered would represent about 1.9% of T-Mobile's outstanding shares, Reuters calculations showed. SoftBank and T-Mobile did not immediately respond to Reuters' requests for comment. In May, the Japanese technology investment group reported a 1.15 trillion yen ($7.94 billion) profit for the year ended March, compared with a loss of 227.6 billion yen a year earlier. SoftBank's approach of investing in high-growth technology companies is epitomized by the success of its investment in Chinese e-commerce leader Alibaba Group as well as the bankruptcy of U.S. office-space startup WeWork. ($1 = 144.7500 yen) (Reporting by Juby Babu in Mexico City; Editing by Anil D'Silva)
