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Air taxi firm Joby acquires defense tech company for $500 million
Reuters6d agoneutral
Air taxi firm Joby acquires defense tech company for $500 million

Joby Aviation said on Tuesday it would buy defense technology ‌company Resonant Sciences for about $500 million, as ‌it looks to scale its business in a growing ​defense market. Electric vertical take-off and landing aircraft (eVTOL) companies are focusing more on the military market amid ramped-up defense spending driven by wars in ‌Ukraine and the ⁠Middle East. Here are some more details: • Shares of Santa Cruz, California-based Joby ⁠fell 6.5% in premarket trading.

Nvidia Releases New Open Model
The Wall Street Journal6d agoneutral
Nvidia Releases New Open Model

In the great “open” versus “closed” debate sweeping Silicon Valley, Nvidia has emerged as among the strongest supporters of open artificial intelligence. The chip giant continued down that path on Tuesday, with the release of a new open model called Nemotron 3.5 Lightning. Kari Briski, Nvidia’s vice president of generative AI software for enterprise, told the Wall Street Journal Leadership Institute that Lightning contains the knowledge of more powerful models, but is packaged into a much smaller size.

Rocket Lab May Not Launch New Rocket This Year, Hitting Shares
The Wall Street Journal6d agoneutral
Rocket Lab May Not Launch New Rocket This Year, Hitting Shares

Shares of Rocket Lab traded down more than 4% premarket after the company indicated its forthcoming Neutron vehicle may not be ready to launch this year. The company said Monday it is planning to deliver the first Neutron rocket to a launch pad in the last quarter of 2026. In May, Rocket Lab said it was in position to debut the rocket this year.

Bloomberg6d agoneutral
Apollo Inks $2.6 Billion Financing Deal With NY Yankees

(Bloomberg) -- Apollo Global Management Inc. is providing $2.6 billion of financing to the owners of the New York Yankees, the private capital giant’s largest investment to date in US sports.Most Read from BloombergChina Unleashes $28 Trillion Capital Markets to Challenge US in AINvidia Taps Wall Street for $500 Billion Funding CommitmentFive Takeaways From Zuckerberg’s 6,500-Word Manifesto on AITrump Makes Sweeping New Demands on Iran as Deal Hopes DimStocks Churn as Hormuz Standoff Spurs Rally