Robotics Startup Physical Intelligence Valued at $5.6 Billion in New Funding

Investors in Alphabet Inc. have shifted their concerns from fears of the company being left behind in the artificial intelligence revolution to worries about the stock becoming overvalued following a significant rally that added a trillion dollars to its market capitalization. This change in sentiment highlights the volatile nature of tech stock valuations amidst rapid advancements in AI technology.

Amancio Ortega, the billionaire founder of Inditex SA, has agreed to purchase The Post building, a two-tower complex located in downtown Vancouver, which is currently leased to Amazon.com Inc.

Citadel Securities LLC has initiated trading for two baskets of corporate bonds from major tech companies including Microsoft Corp., Amazon.com Inc., Alphabet Inc., and Meta Platforms Inc. This move comes as investors seek more liquid options to engage in substantial investments in artificial intelligence.

Alphabet Inc. shares experienced a significant increase on Wednesday, marking the highest rise in two months. This surge was driven by overwhelmingly positive reviews for the latest version of its Gemini artificial intelligence model, boosting investor confidence in the company's standing within the dynamic technology sector.

Jeff Bezos has launched a new company called Project Prometheus, marking his return to operational leadership. The startup aims to leverage artificial intelligence to enhance engineering applications across various sectors, including automotive and aerospace. This initiative reflects Bezos's ongoing commitment to innovation and technology development.

Alphabet Inc.'s Google has launched an updated version of its artificial intelligence model, Gemini, which executives claim represents a significant advancement in reasoning and coding capabilities. This new model aims to enhance user interactions by providing more interactive answers and better understanding of requests, marking a notable step forward in AI technology.

A consortium of four utilities in New Zealand is set to collaborate on an initiative led by Alphabet Inc. The project aims to utilize artificial intelligence to enhance the resilience of the country's electrical grid against outages caused by extreme weather events and seismic activity. This partnership represents a significant step towards modernizing New Zealand's infrastructure and ensuring a more reliable power supply for its residents.

More Retail Pvt., a food and grocery chain co-owned by Amazon.com Inc. and Samara Capital Partners, has selected advisers for its upcoming initial public offering (IPO) in India, which is expected to raise approximately $300 million. This move indicates the company's strategic plans to expand its market presence and capitalize on the growing demand for online grocery services in the region.