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Xbox CEO Joins Federal Reserve’s Productivity And Jobs Task Force Amid Tumultuous Time

Xbox CEO Joins Federal Reserve’s Productivity And Jobs Task Force Amid Tumultuous Time https://ift.tt/SzyVoWR The United States central bank, the Federal Reserve, has announced new task forces to "advance the conduct of monetary policy," and its board has chosen Xbox CEO Asha Sharma to help guide one task force pertaining to AI, as part of a wider effort to help create jobs and keep prices stable. The new Productivity and Jobs task force will look into the "economic impact of new general-purpose technologies," including AI, to help the Fed make better policy decisions. Sharma is joined on this task force by billionaire businessman and venture capitalist Marc Andreessen, along with Stanford University economics professor Charles I. Jones--he is currently on leave from the university to become a scholar-in-residence at the AI company Anthropic. Fed chairman Kevin Warsh said the new task forces are part of the group's "commitment to price stability a...
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Take-Two Buys Gearbox Entertainment From Embracer For $460M

Take-Two Buys Gearbox Entertainment From Embracer For $460M https://ift.tt/k1CBDEw

After months of rumors that Embracer Group was looking for buyers for Borderlands developer Gearbox Entertainment, the studio is now officially being sold to 2K parent company Take-Two Interactive in a deal worth $460 million.

Gearbox was one of Embracer Group's biggest acquisitions when it bought the company in 2021, in a deal worth up to $1.3 billion. As the deal was based on Gearbox reaching certain milestones, it's unclear how much of that $1.3 billion Embracer ended up paying out beyond $363 million in guaranteed upfront payments.

Now, as reported by Brian Crecente on X, Take-Two Interactive has purchased Gearbox for $460 million, which will be paid out in Take-Two shares. The purchase includes Gearbox Software in Texas, Gearbox Montreal, and Gearbox Studio Quebec, and will cover Gearbox IP including Borderlands and Tiny Tina's Wonderlands, Risk of Rain, Brothers in Arms, and Duke Nukem.

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