Citigroup Inc. and Apollo announced Thursday that they have collaborated on a $25 billion private credit and direct lending program, initially focused in North America with potential expansion into other regions. Citi and Apollo “expect strong client demand and maintain the flexibility to significantly expand the size of the program beyond the initial $25 billion,” … Read more
Baidu’s loss-making autonomous-driving project Apollo will focus on generating revenue and profits after a seven-year testing phase, as the Chinese internet search giant pivots to generative artificial intelligence (AI), according to an internal letter written by the unit chief. While Baidu is one of the country’s leading players in self-driving vehicle technology, it has yet … Read more
From Big Tech firms to start-ups, China’s autonomous-driving system developers are struggling to make noticeable gains in turning their vision of a future full of self-driving cars into steady profits. Banma Network Technologies, an intelligent vehicle start-up that develops technology for autonomous-driving systems, this week replaced its CEO Zhang Chunhui, who had served in the … Read more
Apptronik Humanoid robots have been coming on leaps and bounds in recent years, and some major companies are starting to take note. Mercedes-Benz, for example, has just entered into an agreement with Texas-based robotics specialist Apptronik to collaborate on identifying applications for highly advanced robots that could be deployed by the auto giant. The deal … Read more
