800M

February 22, 2024 @ 5:12 PM Megaproducer Tyler Perry has put a planned $800 million expansion of his Atlanta, Georgia, studio on hold after seeing the capabilities of OpenAI’s new model Sora, which lets users create video images from text prompts. “Being told that it can do all of these things is one thing, but actually seeing the capabilities, it was mind-blowing,” he told The Hollywood Reporter on Thursday of Sora, which debuted on Feb. 15. Perry, whose new film, “Mea Culpa” premieres on Netflix on…

Avenir Growth Partners is seeking to raise $800 million for its fifth fund, it disclosed in a securities filing, two years after it began the paperworks for raising its IV fund. It ended up raising about $780 million for the fourth fund, it disclosed in a filing earlier this year. The New York-headquartered firm is an investor in nearly four dozen startups including DuckDuckGo, Flutterwave, and India’s Zetwerk and Spinny. It didn’t respond to a request for comment.…

President Muhammadu Buhari has asked the Senate to approve his request for obtaining a loan facility of $800m from World Bank to finance the National Safety Net Programme. The president’s request was contained in a letter read by Senate President, Ahmad Lawan, at the plenary session on Wednesday. Mr Buhari will hand over power to the president-elect, Bola Tinubu, on 29 May. In the letter sent to the Senate, the president said the $800m loan facility is intended to be used to support poor Nigerians and will be…

The Minister of Finance, Budget, and National Planning, Zainab Ahmed, last Wednesday disclosed that Nigeria has secured a World Bank facility worth $800 million. According to her, the $800 million is the first tranche of palliatives to be disbursed through cash transfers to about 50 million Nigerians, who belong to the most vulnerable category in the society. Details of a document seen by PREMIUM TIMES showed that the financing agreement is between Nigeria and the International Development Association (IDA), a…

Powertrain tech specialist Vitesco Technologies (formerly a Continental business unit) says it has successfully concluded a new €800 million revolving credit facility (RCF) with ESG-Link. By coupling the line of credit with a sustainability component, the credit margin is also linked to the degree to which two sustainability criteria are met. These include the reduction of greenhouse gas emissions and the frequency of…

Electric automaker Lucid Group’s stock (LCID) is crashing this morning after the company slashed its 2022 production guidance and confirmed that it burned through another $800 million during the last quarter. Yesterday, Lucid reported its Q2 2022 earnings and confirmed small progress in delivering its Air electric sedan. In Q2, the automaker delivered 679 vehicles for $97.3 million in revenue – up from the previous quarter, but with 1,405 vehicles produced in the first half of 2022, it is still far behind its goal…

YuLife originally made a name for itself in its home market of the U.K. for its new approach to the provisioning of life insurance: yes, sell a policy that provides financial security to your people in the event of your death; but do so with a focus on improving the policyholder’s current life with wellness opportunities, and encourage use of that with gamification — a model that not only is aimed at benefitting the policyholders more, but increases engagement on the platform and provides a complementary revenue for…