Alphabet Inc (NASDAQ:GOOG) shares fell 5.5% on Monday after the company lost two of its most prominent artificial intelligence researchers to rivals, raising concerns about a brain drain at the heart of its AI ambitions.
Noam Shazeer, Google DeepMind's vice president of engineering and co-lead of the Gemini AI models, has left to join OpenAI. The departure is a significant blow given Shazeer's stature in the field: he left Google years ago to co-found AI startup Character.AI before returning to Alphabet in August 2024 through a $2.7 billion reverse acquihire.
Definium Therapeutics (NASDAQ:DFTX) shares climbed about 53% on Monday after the biopharmaceutical company reported positive topline results from its Phase 3 Emerge study evaluating DT120, an orally disintegrating formulation of lysergide (LSD), in adults with major depressive disorder (MDD).
The randomized, double-blind, placebo-controlled trial met its primary endpoint and all key secondary efficacy endpoints.
Lucid Group Inc (NASDAQ:LCID) is reducing its United States workforce by approximately 18% as part of a broader cost-cutting initiative aimed at improving efficiency and aligning production with demand, the electric vehicle maker announced on Monday.
The company said the restructuring is expected to generate about $158 million in annualized cost savings. The reductions include full-time employees, contractors, and hourly manufacturing staff, according to a filing with the US Securities and Exchange Commission.
Google is investing approximately $75 million in independent film studio A24 as part of a broader artificial intelligence research partnership between the two companies, it was announced on Monday.
The collaboration brings together Google DeepMind and A24 in what the companies described as a multi-project research and development effort aimed at exploring new creative workflows and filmmaking tools powered by AI.
HIVE Digital Technologies Ltd (TSX:HIVE, NASDAQ:HIVE, FRA:YO0, BVC:HIVECO) announced that it has completed its first artificial intelligence research project using graphics processing units (GPUs) in Paraguay in collaboration with Columbia University's Department of Industrial Engineering and Operations Research.
The company said the research has been submitted to the Conference on Neural Information Processing Systems (NeurIPS), a major annual conference focused on machine learning and computational neuroscience.
Abbvie Inc (NYSE:ABBV) announced that it will acquire Apogee Therapeutics (NASDAQ:APGE) in an all-cash transaction valued at approximately $10.9 billion, adding a pipeline of clinical-stage therapies for inflammatory and immunological diseases, including atopic dermatitis and asthma.
Under the terms of the definitive agreement announced Sunday, AbbVie will acquire all outstanding Apogee shares for $135.11 per share in cash.
Getty Images (NYSE:GETY) shares opened about 118% higher on Monday after the company announced a multi-year agreement with OpenAI (Unlisted:OPAI) to bring Getty's licensed visual content into search and discovery experiences within ChatGPT.
Under the agreement, Getty Images' content libraries will be displayed within ChatGPT to enhance visual responses.