Mark Zuckerberg, CEO of Meta, has hired three researchers from OpenAI to bolster his company’s work on artificial intelligence. This strategic move aims to guide Meta Platforms through its current AI challenges. The social-media corporation brought aboard Lucas Beyer, Alexander Kolesnikov, and Xiaohua Zhai, all of whom previously held positions at OpenAI’s branch in Zurich, as per sources privy to this information. These individuals established OpenAI’s location in Zurich towards the end of last year. Prior to their time at OpenAI, they collaborated closely within Google DeepMind, which is the organization’s artificial intelligence division. A representative from OpenAI verified that the three scientists have departed from the organization. Zuckerberg has been on an intense recruiting drive To correct the company’s AI initiatives following the underwhelming reception of its most recent model, he has sometimes proposed giving researchers up to $100 million to become part o...
QXO Inc., the building materials supplier headed by billionaire Brad Jacobs, aims to raise approximately $2 billion through a stock offering as part of their strategy to pursue an acquisition.
The Greenwich, Connecticut-based company has priced its shares at $22.25 each following their marketing range of $22.25 to $23.25 in an overnight offering, as stated in a corporate announcement.
QXO plans to utilize funds raised from the offering for potential expenditures such as financing upcoming acquisitions, according to the statement.
The cost reflects a reduction of 5.4% from Tuesday's closing price at $23.51. The firm is proposing to issue 89.9 million shares. On Wednesday during early morning trade, the share value dropped by up to 8.1%, reaching $21.61.
So far this year, the stock has surged almost 48%, which has boosted the company’s market capitalization to $13.4 billion.
QXO proposed an unexpected $5 billion bid for GMS Inc. and stated it would not raise The proposal came following a report in The Wall Street Journal that Home Depot Inc. had submitted a competing offer.
The firm is collaborating with Goldman Sachs Group Inc., Morgan Stanley, and Wells Fargo & Co. on the offering, according to the statement.
--Assisted by Subrat Patnaik.
(Updated content including premarket trading details in the fourth paragraph.)
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