Category: 3. Business

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AI start-up Perplexity has abandoned advertising over fears that it will erode user trust, despite rivals pushing ahead with introducing ads as they seek strategies to make money from the technology.

San Francisco-based Perplexity was one of the first generative AI companies to introduce ads in 2024, running tests in which sponsored answers were displayed under the chatbot’s answers.

However, the company — which also offers paid subscriptions — began phasing out the ads late last year. On Tuesday, executives at the company said it had no plans to pursue advertising further.

“A user needs to believe this is the best possible answer, to keep using the product and be willing to pay for it,” a Perplexity executive said.

Perplexity’s ads were labelled and the company said they had no bearing on the chatbot’s responses.

But the executive said in general “the challenge with ads is that a user would just start doubting everything . . . which is why we don’t see it as a fruitful thing to focus on right now”.

It comes as leading AI groups have followed Perplexity in introducing advertising to start making money from free users and appease investors as they burn through cash to train and sustain the large language models that underpin popular products.

OpenAI last week began testing advertising on its core product, ChatGPT, for users who do not pay for a subscription. It has a similar model, where labelled ads appear below answers. It has emphasised that ChatGPT’s answers are not influenced by these sponsors.

Google has advertising in AI mode, as well as in its AI Overviews summaries on traditional search. But the search giant has so far held off introducing ads into its Gemini chatbot.

In contrast, Anthropic this month committed to keeping its chatbot Claude free from ads.

Perplexity was also one of the first to introduce shopping features on its platform, followed by Google and OpenAI. Unlike its competitors, however, executives said Perplexity did not make money from this feature or a cut of sales.

Valued at $18bn, with a reported $200mn in annualised revenues, Perplexity makes the majority of its money from subscriptions. It offers free services, as well as tiers ranging from $20 to $200 a month. It has more than 100mn users, according to executives.

Ads on Perplexity have been wound down, and executives said it is primarily focused on ensuring answers are accurate.

“We are in the accuracy business, and the business is giving the truth, the right answers,” said another Perplexity executive. Although it could revisit advertising in the future, the executive said it was “misaligned with what the users want” and it might “never ever need to do ads”.

• Scalability and functional safety enabled by chiplet technology
• Auto-grade quality for large, modern AI NPUs
• Advanced power control for higher performance, improved power efficiency and safety
• New technology presented at the ISSCC 2026 in San Francisco

TOKYO, Japan and SAN FRANCISCO, Calif. ― Renesas Electronics Corporation (TSE:6723), a premier supplier of advanced semiconductor solutions, has developed three System-on-Chip (SoC) technologies for automotive multi-domain electronic control units (ECUs). They feature advanced AI processing capabilities and chiplet functions, serving as the core technology platform for next-generation automotive electrical/electronic (E/E) architectures. Renesas presented the results at the International Solid-State Circuits Conference 2026 (ISSCC 2026), held February 15–19 in San Francisco, USA.

In the age of software-defined vehicles (SDVs), automotive SoCs require advanced performance to run multiple applications simultaneously and must offer scalability through chiplets. They must also meet the functional safety requirements of automotive SoCs. As multi-domain SoCs powering central computing are growing larger and more complex, maintaining automotive-grade quality is becoming more difficult. With increased performance in advanced SoCs, power consumption also rises, making improvements in power efficiency and safety vital. To meet these needs, Renesas has developed the following new technologies.

1. Chiplet architecture that supports functional safety

To meet the functional safety requirements of automotive SoCs, Renesas has developed a new, proprietary architecture that supports ASIL D even in a chiplet configuration. By combining the standard die-to-die UCIe interface with a proprietary RegionID mechanism, the architecture prevents interference with hardware resources, even when numerous applications run simultaneously, thereby achieving Freedom from Interference (FFI).

Conventional UCIe interfaces lack functionality to transmit RegionIDs between dies. Renesas developed a method for mapping RegionIDs into physical address space, encoding them into the UCIe region, and transmitting them. This enables safe access control through the memory management unit (MMU) and real-time cores, and meets functional safety requirements across chiplets. Additionally, by maintaining bandwidth from processors to the memory bus, the UCIe interface was confirmed through testing to achieve a high transmission speed of 51.2 GB/s, approaching the upper limit of intra-SoC transfer speeds. This technology provides both scalability and safety for high-performance automotive SoCs.

2. Advanced AI processing capabilities and automotive-grade quality

Automotive-grade quality is vital for SDV systems. Renesas has created a 3 nm SoC design that improves the performance of neural processing units (NPUs) for AI processing, while maintaining automotive-grade quality. In recent years, NPUs have been growing larger, with their area expanding 1.5-fold compared to previous generations. This has led to increased clock latency between shared clock sources and individual circuits. To address this problem, Renesas has redesigned the clock architecture by splitting up clock pulse generators (CPGs), which in past designs were module-level units, and placing mini-CPGs (mCPGs) at the sub-module level. This greatly reduces clock latency and meets timing requirements.

However, multi-layer mCPGs complicate test clock synchronization, which is critical for achieving zero defects in automotive applications. Renesas has integrated test circuits into the hierarchical CPG architecture and unified the signal path for user clocks and test clocks. The new design also synchronizes upper- and lower-level mCPGs under a single clock source in test mode. This makes unified phase adjustment possible. As a result, Renesas has been able to achieve quality aligned with zero-defect expectations, even for large-scale SoCs, providing the high reliability required for next-generation SDV automotive SoCs.

3. Advanced power control and monitoring for improved power efficiency and safety

To achieve the high level of performance required for automotive SoCs with improved power efficiency and safety, Renesas has developed advanced power gating technology that uses over 90 power domains. It enables precise power control, from several milliwatts to several tens of watts, depending on operating conditions. Furthermore, Renesas has split power switches (PSWs) into ring PSWs and row PSWs to reduce IR drops (voltage drops) associated with increasing current density from smaller process geometries. When power is turned on, the ring PSW suppresses rush currents. Then the row PSW equalizes impedance within the domain. Together, these reduce IR drops by roughly 13% compared with conventional designs.

To meet ASIL D functional safety standards, the dual core lock step (DCLS) configuration controls the master and checker cores with independent power switches and controllers. With this design, even if one side fails, the failure can be detected through lockstep operation. Furthermore, loopback monitoring is performed for each PSW’s gate signal, so OFF states are detected when a failure occurs. A digital voltage meter (DVMON), which is highly resistant to temperature drift, is used for voltage monitoring. This improves aging tolerance by 1.4 mV. These technologies enable high-performance automotive SoCs that offer both power efficiency and safety.

These new technologies are being used in Renesas’ R-Car X5H SoC for automotive multi-domain ECUs. With R-Car X5H, users can accelerate the evolution of SDVs while ensuring safety and enabling autonomous driving, digital cockpit and more.

About Renesas Electronics Corporation

Renesas Electronics Corporation (TSE: 6723) empowers a safer, smarter and more sustainable future where technology helps make our lives easier. A leading global provider of microcontrollers, Renesas combines our expertise in embedded processing, analog, power and connectivity to deliver complete semiconductor solutions. These Winning Combinations accelerate time to market for automotive, industrial, infrastructure and IoT applications, enabling billions of connected, intelligent devices that enhance the way people work and live. Learn more at renesas.com. Follow us on LinkedIn, Facebook, X, YouTube, and Instagram.

(Remarks) All names of products or services mentioned in this press release are trademarks or registered trademarks of their respective owners.

The content in the press release, including, but not limited to, product prices and specifications, is based on the information as of the date indicated on the document, but may be subject to change without prior notice.

NEW YORK (AP) — Warner Bros. Discovery is briefly reopening takeover talks with Skydance-owned Paramount to hear the company’s “best and final” offer, while the Hollywood giant continues to back the studio and streaming deal it struck with Netflix.

In a Tuesday regulatory filing, Warner said it had received a waiver from Netflix to reopen talks with Paramount for the next seven days, or until Monday. Warner said this will allow the companies to discuss unresolved “deficiencies” and “clarify certain terms” of Paramount’s latest bid.

WATCH: Proposed Warner Bros. sale prompts concerns among Hollywood’s creative community

But in the meantime, Warner’s board is still recommending shareholders support of its proposed merger with Netflix. A special meeting is now scheduled for Friday, March 20 to hold a vote on that deal.

In a statement, Netflix said it was confident that its proposed transaction “provides superior value and certainty” — but recognized “the ongoing distraction for WBD stockholders and the broader entertainment industry caused by PSKY’s antics.” The streaming giant noted it had granted Warner a seven-day waiver to “finally resolve this matter.”

Warner’s leadership similarly reiterated its support for the Netflix deal.

Meanwhile, Paramount called Tuesday’s actions from Warner’s board “unusual” and said the company could have determined whether Paramount’s offer was superior without a timed deadline. Still, Paramount said it was “nonetheless prepared to engage in good faith and constructive discussions.”

Paramount added that it will continue to advance its tender offer priced at $30 per share, which it maintained was better than Netflix’s proposal, while also pursuing a proxy fight.

The battle for Warner Bros. Discovery is complicated because Netflix and Paramount want different things. In December, Netflix agreed to buy Warner’s studio and streaming business for $72 billion, now in an all-cash transaction that would cover its legacy TV and movie production arms, as well as HBO Max. Including debt, the enterprise value of the deal is about $83 billion, or $27.75 per share, and would be finalized after Warner completes a previously-announced separation of its cable operations.

Meanwhile, unlike Netflix, Paramount wants to acquire Warner’s entire company — including networks like CNN and Discovery — and went straight to shareholders with an all-cash, $77.9 billion hostile offer just days after the Netflix deal was announced.

The enterprise value of Paramount’s bid currently stands around $108 billion including debt, or $30 per share. But Warner disclosed Tuesday that a Paramount representative separately informed the company it would up its offer to $31 per share “pending engagement.”

Analysts at Raymond James said they had “long believed” Paramount was willing to raise its offer “and now it seems we are finally moving in that direction.” If Paramount were to up its price to $32 or $33 per share, they noted it would be “increasingly difficult to argue the Netflix agreement is superior,” although Netflix could then move to match the bid.

“Netflix is still in the driver’s seat, but now having to make its case,” the analysts added in a Tuesday research note.

Paramount has made more attempts to sweeten its offer recently. Last week, the company said it would pay Warner shareholders an added “ticking fee” if its deal doesn’t go through by the end of the year — amounting to 25 cents per share, or a total of $650 million, for every quarter after Dec. 31. Paramount also pledged to fund Warner’s proposed $2.8 billion breakup payout to Netflix under its merger agreement.

The company has been scrambling to solidify more shareholder support. Paramount has extended its tender offer three times, with the latest deadline set for March 2. According to company disclosures, more than 42.3 million Warner shares had been “validly tendered and not withdrawn” from its hostile bid as of the start of last week, down from over 168.5 million Warner shares on Jan. 21 — still a small fraction of Warner’s 2.48 billion shares outstanding in series A common stock.

But also last week, one activist investor, Ancora Holdings, publicly expressed opposition to Warner’s proposed merger with Netflix. And beyond its tender offer, Paramount has also promised a proxy fight. On Tuesday, the company reiterated plans to nominate its own slate of directors at Warner’s upcoming annual meeting.

What, if anything, changes after the next seven days of talks has yet to be seen. Paramount, Warner and Netflix have spent the last couple of months in a heated back and forth over who has a stronger deal on the table.

The prospect of a Warner sale to either company has raised tremendous antitrust concerns from lawmakers worldwide, who are calling on regulators to carefully scrutinize a merger of this size.

The U.S. Department of Justice has already initiated its reviews, and other countries may also scrutinize either deal. Both Paramount and Netflix have said they received securities clearance from German authorities last month.

Shares of Warner Bros. Discovery rose more than 3% in Tuesday trading. Paramount Skydance climbed over 5%, while Netflix’s stock inched up slightly.

The U.S. Food and Drug Administration (FDA) has approved a wearable medical device used in combination with a standard chemotherapy regimen for the treatment of adult patients with locally advanced pancreatic cancer. The device, called Optune Pax®, delivers a treatment called Tumor Treating Fields Therapy (TTFields).

Optune Pax with the chemotherapy combination of gemcitabine and nab-paclitaxel is the first treatment to be FDA approved in nearly 30 years for locally advanced pancreatic cancer.

“The approval of Optune Pax is an important milestone for the pancreatic cancer community. Survival rates for pancreatic cancer have seen only modest improvements over time and treatment advances have remained limited, underscoring how challenging this disease is to treat,” said PanCAN’s Chief Scientific and Medical Officer Anna Berkenblit, MD, MMSc, in a press release from oncology company Novocure announcing the FDA approval. “This approval for locally advanced disease highlights the importance of continued innovation and investment in new approaches for difficult-to-treat cancers and represents meaningful progress for patients who urgently need more options.”

Medical oncologist Vincent Picozzi, M.D., MMM, a PanCAN Scientific and Medical Advisory Board member and investigator for the Phase III clinical trial that led to the treatment’s approval, calls the trial an important milestone as it is the first-ever positive randomized trial for locally advanced disease. He’s hopeful it will provide a foundation for future advances.

“[In the clinical trial], treatment with Optune Pax resulted in a statistically significant improvement in overall survival without adding to the systemic side effects commonly associated with existing therapies. It also significantly extended time to pain progression, helping to preserve overall quality of life, which is a priority when I am treating patients living with pancreatic cancer,” Dr. Picozzi said. “With FDA approval, Optune Pax has the potential to be practice changing for the treatment of patients with locally advanced pancreatic cancer.”

In this blog post, PanCAN addresses questions related to this news.

What patients can receive this new treatment?

This treatment is approved for patients with unresectable, locally advanced pancreatic adenocarcinoma. This means that cancer has not spread far beyond their pancreas (has not metastasized) but has advanced to the point where it can’t be surgically removed.

What is Optune Pax? And what is TTFields?

Optune Pax is the wearable medical device developed by Novocure that delivers TTFields to patients with pancreatic cancer. The device is designed to be worn with the generator carried in a specially designed bag, allowing patients to receive continuous treatment while going about their normal daily activities, according to a statement about the approval from the FDA.

TTFields is a therapeutic option that has previously been approved by the FDA to treat glioblastoma, a type of tumor found in the brain and spinal cord, and metastatic non-small cell lung cancer. It uses electric fields to slow and reverse tumor growth by inhibiting mitosis (the process by which cells divide and replicate). TTFields does not significantly affect healthy cells because they have different properties than cancer cells.

What is the evidence for this treatment’s effectiveness for pancreatic cancer?

In December 2024, Novocure announced results from a Phase III clinical trial that studied the treatment as a first-line therapy (the first treatment given for a disease) for unresectable, locally advanced pancreatic adenocarcinoma. It enrolled 571 trial participants and they were randomly divided into two groups: One group received TTFields in combination with gemcitabine and nab-paclitaxel. The second group received gemcitabine and nab-paclitaxel alone.

At the end of the trial, participants who received the TTFields survived an average of two months longer than patients who received only the chemotherapies.

The overall survival benefit of two months for patients treated with TTFields is statistically significant, which means that it was unlikely to have occurred by chance. Specifically, patients who were treated with TTFields in addition to chemotherapy lived an average of 16.2 months, whereas patients treated with chemotherapy alone lived an average of 14.2 months.

Other notable results reported by the company: As compared to those treated with chemotherapy alone, patients treated with Optune Pax and the chemotherapy regimen reported six additional months until they experienced pain progression. This group of patients also reported improvement on several quality-of-life measures, such as digestive problems and fatigue.

Novocure presented their findings at the American Society of Clinical Oncology annual meeting and published results from the clinical trial at the American Society of Clinical Oncology annual meeting in May 2025.

What are the side effects?

The most common device-related side effect reported is mild to moderate skin irritation beneath the arrays. When TTFields are delivered, the arrays may cause mild warming and tingling of the skin underneath them.

I am a patient with pancreatic cancer interested in this treatment. What should I do?

People with locally advanced pancreatic cancer should talk to their healthcare team about this treatment option. Contact PanCAN Patient Services for additional information. Our expert Case Managers can provide patients and their caregivers with accurate, up-to-date information about this and other treatment options. Resources available to patients include personalized clinical trials searches, a list of specialists across the country and a free booklet with in-depth information specific to diagnosis and treatment.

Does insurance cover this treatment?

FDA approval means this drug combination is safe and effective, and although the FDA does not decide what is covered by insurance, when a drug gets FDA approval, Medicare and Medicaid will usually cover it.  Coverage for cancer drugs will vary based on the specific plan and insurance company a person uses.

Contact PanCAN Patient Services for more information on financial assistance programs for those experiencing or anticipating cost-related barriers to care.

We are here to help. Contact PanCAN Patient Services with any questions related to treatments for pancreatic cancer.

Halliburton received a multiyear contract from KS Orka Renewables Pte. Ltd. to support geothermal well construction for the PT Sorik Marapi Geothermal Power (SMGP) and PT Sokoria Geothermal Indonesia (SGI) projects in Indonesia. The award covers several development phases for both projects and reinforces Halliburton’s long-term dedication to geothermal energy solutions worldwide.

Under the agreement, Halliburton will deploy advanced drilling technologies and operational expertise to help improve efficiency, reduce costs, and accelerate the deployment of sustainable geothermal power in the region. Halliburton will provide a full suite of services for the geothermal projects, such as directional drilling, cementing, drilling fluids, and drill bits for the SMGP and SGI projects.

KS Orka Renewables expands Indonesia’s geothermal power supply after a decade of service. Halliburton’s 70-year legacy of geothermal well development and execution around the world positions the company as an ideal collaborator to support KS Orka Renewables’ vision and extend these two landmark projects.

The collaboration pairs KS Orka Renewables, which operates as part of a broader corporate group affiliated with Kaishan Group Co., Ltd., and has experience in the delivery of cost-efficient geothermal wells, with Halliburton’s integrated solutions and technical capabilities. Together, the companies plan to improve drilling performance and help meet Indonesia’s demand for reliable, low-carbon energy.

“Kaishan Group welcomes the opportunity to extend its relationship with Halliburton to meet our geothermal power goals in Indonesia and help us deliver some of the lowest cost per foot geothermal wells in the country,” said Cao Kejian, chief executive officer of Kaishan Group Co., Ltd. “Halliburton, as a critical member of our team, will support the drilling phase of the project and help expand current capacity.”

This award strengthens Halliburton’s Low Carbon Solutions portfolio and underscores the company’s role in geothermal development within the global energy mix.

Fourth Quarter Highlights

• Fourth quarter 2025 net loss attributable to Huntsman of $96 million compared to a net loss of $141 million in the prior year period; fourth quarter 2025 diluted loss per share of $0.56 compared to diluted loss per share $0.82 in the prior year period.
• Fourth quarter 2025 adjusted net loss attributable to Huntsman of $63 million compared to adjusted net loss of $43 million in the prior year period; fourth quarter 2025 adjusted diluted loss per share of $0.37 compared to adjusted diluted loss per share of $0.25 in the prior year period.
• Fourth quarter 2025 adjusted EBITDA of $35 million compared to $71 million in the prior year period.
• Fourth quarter 2025 net cash provided by operating activities from continuing operations was $77 million. Free cash flow from continuing operations was $20 million for the fourth quarter 2025 compared to free cash flow of $108 million in the prior year period.

THE WOODLANDS, Texas, Feb. 17, 2026 /PRNewswire/ — Huntsman Corporation (NYSE: HUN) today reported fourth quarter 2025 results with revenues of $1,355 million, net loss attributable to Huntsman of $96 million, adjusted net loss attributable to Huntsman of $63 million and adjusted EBITDA of $35 million. 

Peter R. Huntsman, Chairman, President, and CEO, commented:

“During 2025, there was an exceptional amount of work accomplished by the Company in restructuring our business and generating cash despite the depressed level of earnings. We generated close to $300 million of cash flow from operations in 2025 and our 45% full year free cash flow conversion reflects timely, definitive decisions as we recognized the challenging market landscape early in the year. We remain confident that the economic cycle for chemicals will eventually improve in our core markets, though we recognize that meaningful changes may not occur in the immediate term. We are committed to maintaining a disciplined approach, prioritizing cash management, the balance sheet and controlling our fixed costs to ensure the Company is well-positioned when our markets improve.”

Segment Analysis for 4Q25 Compared to 4Q24

Polyurethanes

The decrease in revenues in our Polyurethanes segment for the three months ended December 31, 2025 compared to the same period of 2024 was primarily due to lower average selling prices, partially offset by higher sales volumes. MDI average selling prices decreased primarily due to less favorable supply and demand dynamics. Sales volumes increased in the Americas and Asia regions. The decrease in segment adjusted EBITDA was primarily due to lower MDI margins.

Performance Products

The decrease in revenues in our Performance Products segment for the three months ended December 31, 2025 compared to the same period of 2024 was primarily due to lower average selling prices. Average selling prices decreased primarily due to competitive pressures. Sales volumes were relatively stable. The decrease in segment adjusted EBITDA was primarily due to lower revenues and an unfavorable impact from reduced inventory, partially offset by lower fixed costs.

Advanced Materials

The decrease in revenues in our Advanced Materials segment for the three months ended December 31, 2025 compared to the same period of 2024 was primarily due to lower sales volumes, partially offset by higher average selling prices. Sales volumes decreased in our infrastructure coatings and general industry segments due to soft demand. Average selling prices increased primarily due to the positive impact of major foreign currency exchange rate movements against the U.S. dollar. Segment adjusted EBITDA was slightly lower primarily due to decreased sales volumes.

Liquidity and Capital Resources

During the three months ended December 31, 2025, our free cash flow from continuing operations was $20 million as compared to $108 million in the same period of 2024. As of December 31, 2025, we had approximately $1.3 billion of combined cash and unused borrowing capacity.

During the three months ended December 31, 2025, we spent $57 million on capital expenditures from continuing operations as compared to $51 million in the same period of 2024. During 2026, we expect similar capital expenditure levels as to the 2025 year.

Income Taxes

In the fourth quarter of 2025, our effective tax rate was -1% and our adjusted effective tax rate was -14%.

Earnings Conference Call Information

We will hold a conference call to discuss our fourth quarter 2025 financial results on Wednesday, February 18, 2026, at 10:00 a.m. ET.

Webcast link: https://event.choruscall.com/mediaframe/webcast.html?webcastid=IMeg0PNW

Participant dial-in numbers:
Domestic callers:                     (877) 402-8037
International callers:                (201) 378-4913

The conference call will be accompanied by presentation slides that will be accessible via the webcast link and Huntsman’s investor relations website, www.huntsman.com/investors. Upon conclusion of the call, the webcast replay will be accessible via Huntsman’s website.

Upcoming Conferences

During the first quarter 2026, a member of management is expected to present at:
Bank of America Securities 2026 Global Agriculture and Materials Conference, February 25, 2026  
Alembic Materials and Industrials Conference, March 4-6, 2026

A webcast of the presentation, if applicable, along with accompanying materials will be available at www.huntsman.com/investors.