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Warner Bros. again rejected Paramount’s latest takeover bid and told shareholders Wednesday to stick with a rival offer from Netflix.Warner’s leadership has repeatedly rebuffed Skydance-owned Paramount’s overturesand urged shareholders just weeks ago to back its the sale of its streaming and studio business to Netflix for $72 billion. Paramount, meanwhile, has sweetened its $77.9 billion offer for the entire company and gone straight to shareholders with a hostile bid.Warner Bros. Discovery said Wednesday that its board determined Paramount’s offer is not in the best interests of the company or its shareholders. It again recommended shareholders support the Netflix deal.Late last month Paramount announced an “irrevocable personal guarantee” from Oracle founder Larry Ellisonwho is the father of Paramount CEO David Ellisonto back $40.4 billion in equity financing for the company’s offer. Paramount also increased its promised payout to shareholders to $5.8 billion if the deal is blocked by regulators, matching what Netflix already put on the table.The battle for Warner and the value of each offer grows complicated because Netflix and Paramount want different things. Netflix’s proposed acquisition includes only Warner’s studio and streaming business, including its legacy TV and movie production arms and platforms like HBO Max. But Paramount wants the entire companywhich, beyond studio and streaming, includes networks like CNN and Discovery.If Netflix is successful, Warner’s news and cable operations would be spun off into their own company, under a previously-announced separation.A merger with either company will attract tremendous antitrust scrutiny. Due to its size and potential impact, it will almost certainly trigger a review by the U.S. Justice Department, which could sue to block the transaction or request changes. Other countries and regulators overseas may also challenge the merger. Associated Press
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E-Commerce
The stock prices of RAM and NAND manufacturers surged yesterday, with Micron Technology (Nasdaq: MU) up 10%, Sandisk Corporation (Nasdaq: SNDK) up 27%, Western Digital Corporation (Nasdaq: WDC) up 16%, and Seagate Technology Holdings (Nasdaq: STX) up 14%. The driving factor behind this recent stock surge is a shortage of RAM, or random-access memory. The shortage expected to last throughout 2026, and it could mean that youll pay much more for personal computers and smartphones this year. Heres what you need to know about the RAM shortage of 2026. Why is there a RAM shortage in 2026? The RAM shortage in 2026 can essentially be blamed on one thing: artificial intelligence. Major tech giants like Google and Amazon, as well as other so-called hyperscalers, are rushing to build as many AI data centers as possible. These data centers are packed with servers, and those servers run all the powerful AI services that are quickly becoming ubiquitous. Data center servers are made of various componentsstorage, CPUs, GPUs, and, critically, RAMthat are needed for them to be able to carry out their AI tasks. RAM is the short-term storage that digital devices use to quickly perform tasks. RAM, also colloquially known as memory chips, holds onto data for the short term. It differs from other forms of computer storage, like NAND chips, which are the flash storage used in SSDs, that are designed to hold data for the long term. The more RAM your smartphone or computer has, the faster it runs and the more quickly it carries out tasks. Manufacturers are racing to keep up with AI demand The problem now, which is driving the RAM shortage, is that RAM manufacturers have limited production capacity, so they must decide which types of RAM to produce. The servers used in AI data centers use a more advanced type of RAM than the RAM found in smartphones and personal computersand right now, that RAM is in high demand from tech giants in need of data centers. Big Tech companies are willing to pay a premium to get their hands on as much RAM as possible for their AI data centers, which means RAM manufacturers are prioritizing the production of the RAM that AI companies require over the RAM that consumer electronics companies acquire. This prioritization is leading to a shortage of the traditional RAM that is used in laptops and smartphones. The shortage could mean pricier smartphones in 2026 A shortage of any component often drives up its price, meaning consumer tech companies are now paying more for the traditional RAM that their devices require. In a TrendForce analysis published on Monday, the market intelligence firm reported that conventional DRAM contract pricesthe kind of RAM used in consumer electronicshave increased between 55% and 60% quarter over quarter. This price increase is due to the RAM shortage, and will likely mean that youll pay more for a new smartphone or laptop this year. Smartphone and computer manufacturers will typically not choose to absorb the costs of pricier components, instead passing them on to consumers to avoid a negative impact on their bottom lines. As for how much more consumers can expect to pay for their devices this year, the Financial Times reported this week that prices could rise by up to 20%. However, some industry analysts are expecting personal device price rises of less than 20%, notes the FT. That’s because consumer device companies could conceivably find ways to cut costs elsewhere, which they may be keen to do to avoid sinking sales of their devices during a period when most consumers already feel cash-strapped. RAM maker stock prices soar Given that the price of RAM chips is rising and demand from deep-pocketed Big Tech companies shows no signs of abating, its little surprise that the stock prices of memory makers are on an upward trajectory as of late. Yesterday, the share prices of four of the largest DRAM and NAND flash memory makers surged on the Nasdaq, with Micron, Seagate, Western Digital, and SanDisk all up by double digits. That sharp rise in memory maker stocks came after Mondays report from TrendForce as well as after comments from Nvidia CEO Jensen Huang. At CES 2026 this week, Huang said that the memory storage market was a “completely unserved market today and one that will likely be the largest storage market in the world, basically holding the working memory of the world’s AIs, according to Business Insider. Thanks primarily to this market demand, DRAM and NAND memory makers have seen their stock prices surge over the past six months. As of yesterdays close, Microns stock price was up more than 44% in the past six months, Seagates was up 121%, Western Digitals was up 231%, and Sandisk’s was up a staggering 653%.
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E-Commerce
Chat platform Discord filed confidentially for an initial public offering in the United States, Bloomberg News reported on Tuesday, citing people familiar with the matter. The U.S. IPO market regained momentum in 2025 after nearly three years of sluggish activity, but hopes for a stronger rebound were tempered by tariff-driven volatility, a prolonged government shutdown and a late-year selloff in artificial intelligence stocks. Deliberations are ongoing and the company could decide not to proceed with a listing, the report said. A Discord spokesperson told Bloomberg “the company’s focus remains on delivering the best possible experience for users and building a strong, sustainable business.” Discord did not immediately respond to a Reuters request for comment. Discord, which was founded in 2015, offers voice, video and text chatting capabilities aimed at gamers and streamers. It had more than 200 million monthly active users, according to a December statement on its website. Prakhar Srivastava and Nathan Gomes, Reuters
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E-Commerce
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