Meta faces a $25 billion penalty following a New Mexico court ruling regarding consumer protection violations. The judgment, issued by Judge Francis Mathew, stems from nearly 44 million violations of the state's Unfair Practices Act. Meta intends to appeal the decision.
Chinese AI startup DeepSeek is nearing a funding round of approximately $15 billion. The investment includes backing from companies like CATL, Tencent, and Meituan. The company is reportedly valued at $75 billion pre-investment, with potential plans for a domestic IPO.
Tesla reported a 44% decline in third-quarter net income, totaling $787 million. Despite this, the company generated $1.5 billion in free cash flow. CEO Elon Musk continues to prioritize investments in autonomous vehicles, robotics, and AI infrastructure.
Barclays is reducing its workforce by approximately 5,000 positions, representing 5% of its total staff. The bank attributes these cuts to organizational restructuring and efficiency gains driven by AI adoption, with 60% of affected roles in support and software development.
Swedish legal AI startup Legora has secured $550 million in funding at an $8.8 billion valuation. Meanwhile, American research startup Flapping Airplanes raised $1 billion to develop AI models requiring less computing power.
