Nvidia Corp was on track on Tuesday to breach $1 trillion in market capitalization for the first time, making it the first U.S. chipmaker to join the trillion dollar club.

Nvidia becomes the first US chipmaker to be valued at more than $1 trillion

Jim HendlerMay 30, 23Business, Chipmaker, nvidia

(Reuters) – Nvidia Corp. on Tuesday sought to crack the $1 trillion market cap for the first time, becoming the first U.S. chipmaker to join the trillion-dollar club. The company’s shares were last up 3.5% at $402.91 in premarket trading. The meta, valued at about $670 billion at the latest close, could have shed $1 trillion in market capitalization in 2021, while Apple Inc, Alphabet Inc, Microsoft Corp and Amazon.com are other US companies in the club. Artificial intelligence took center stage after Nvidia surprised investors last week with a…

A former public relations firm for Twitter sued the social media company on Friday, saying it has not paid its bills since Elon Musk's $44 billion buyout.

News

Twitter not paying PR firm’s bills after Elon Musk buyout: Report

Jim HendlerMay 30, 23Business, Elon Musk, Twitter

(Reuters) – A former Twitter relations firm sued the social media company on Friday, saying it had failed to pay its bills since Elon Musk’s $44 billion buyout. Joel Frank said Twitter owes $830,498, which consists of six unpaid invoices and subpoena costs in Twitter’s lawsuit to force Musk to complete the deal after he tried to back out. The PR firm said Twitter terminated its contract on Nov. 16, three weeks after the deal closed, and no longer communicates about its payment request other than an automatic promise to…

Britain's competition watchdog said Meta had offered to limit its use of other businesses' advertising data for its Facebook Marketplace.

News

Meta offers to limit the use of advertising data to resolve competition issues in the UK

Jim HendlerMay 29, 23Ads, Business, Facebook, Meta

LONDON (Reuters) – Britain’s competition watchdog said on Friday that social media giant Meta had offered to limit the use of other companies’ advertising data on its Facebook Marketplace service to address the regulator’s competition concerns. The Competition and Markets Authority (CMA) announced that it intends to accept commitments that include the option for advertisers to opt out of having their data used to improve the Facebook Marketplace advertising platform. Michael Grenfell, the CMA’s director of enforcement, said: “Meta’s unfair use of the data of businesses that advertise on its…

News

The Realme DIZO sub-brand may be discontinued

Jim HendlerMay 29, 23Business, DIZO, realme

In May 2021, Chinese smartphone brand Realme launched a new sub-brand called DIZO. Abhilash Panda has been appointed as the CEO of DIZO and of course the influencer hype helped the brand take off in India. Devices such as Bluetooth neckbands, TWS headphones, smart watches, feature phones, hair dryers, trimmers and more have been launched under the DIZO brand. In just two years, DIZO has launched 13 Bluetooth audio products, 17 smart watches, 2 feature phones, 3 hair clippers and 1 hair dryer. This is actually a huge range of…

A court in the US has ordered Google to pay $32.5 million to high-tech audio technology company Sonos, for infringing on the company's smart speaker patent.

News

Google has been ordered to pay $32.5 million to Sonos over smart speaker patent infringement

Adriana MaraisMay 27, 23Business, Google, Lawsuit, Patent, Sonos, Speaker

A US court has ordered Google to pay $32.5 million to high-tech audio technology company Sonos for infringing the company’s smart speaker patent. A San Francisco jury verdict found that Google’s smart speakers and media players infringed on one of Sonos’ patents, The Verge reported, citing a court filing. The jury said Google must pay $2.30 for each of the more than 14 million devices sold. The US International Trade Commission (ITC) said in a ruling in January last year that Google had infringed on five patents of high-tech speaker…

Nvidia shares surged as much as 27 percent, putting them on course for a record performance with a market cap above $900 billion

News

AI giant Nvidia approaches a trillion dollar appreciation

Adarsh V.KMay 26, 23AI, Business, nvidia

The US company’s NVIDIA market appreciation, which specializes in chips covered with chips covered in an artificial intelligence boot, approached Thursday after one party dollar as the company blew up the expectations of the last quarterly revenue. Nvidia’s shares rose by up to 27 percent and set them in a record of more than $ 900 billion. If Nvidia hits a single trillion brand, it is related to only five companies’ clubs-all US technical giants except Saudi Aramco, Oil Behemoth. Nvidia’s chips are a central ingredient for the generative AI…

The artificial-intelligence boom has helped Nvidia become the fifth-most valuable U.S. company by market value

News

Nvidia’s stock rose 21 percent on the sales forecast and the rise of artificial intelligence

Adriana MaraisMay 25, 23AI, Artificial Intelligence, Business, nvidia, Stock Market

Nvidia Corp on Wednesday forecast second-quarter revenue to beat Wall Street estimates by more than 50%, and the company said it would increase supply to meet growing demand for AI chips used to power ChatGPT and many similar services. Shares of Nvidia, the world’s most valuable publicly traded semiconductor company, jumped as much as 21% to a record $370 in extended trading. Nvidia’s rally after the bell boosted its stock market value by nearly $150 billion to more than $900 billion, adding to the Silicon Valley company’s lead as the…

The animated images platform Giphy Inc has been owned by Meta Platforms for a few years.

News

Shutterstock acquires Giphy from Meta in a $53 million deal

Jim HendlerMay 23, 23Business, Giphy, Meta, Shutterstock

(Reuters) – Stock image repository Shutterstock Inc said on Tuesday it will buy the animated images platform from Giphy Inc’s Meta Platforms Inc for $53 million in cash. The deal will be funded with existing cash and includes an intellectual property rights sharing agreement that would give Metal access to Giphy’s content, Shutterstock said. Shutterstock, whose shares rose 4% before the sale, made no changes to its 2023 revenue and adjusted margin guidance. The deal is expected to be completed next month. Read all the Latest Tech News here.

Shares of the company pared gains to trade 0.7% higher post market hours, after having rallied nearly 5% earlier

News

Zoom raises its full-year revenue and profit forecasts despite the slowdown in growth

Adriana MaraisMay 23, 23Business, Communications, Zoom

On Monday, Zoom Video Communications Inc raised its full-year revenue and earnings forecasts, even though growth is slowing as a result of the pandemic boom and business spending is slowing in a tough economy. The company’s shares were 0.7% higher in after-market hours, after rising nearly 5% earlier. Zoom became a household name during the shutdown, but growth has since cooled as offices reopen and competition heats up from deep-seated rivals such as Microsoft Corp’s Teams, Cisco’s Webex and Salesforce’s Slack. San Jose, Calif.-based Zoom raised its annual revenue forecast…

The tech-heavy Nasdaq Composite has jumped 21% this year, more than doubling the S&P 500’s 9% rise, boosted by stronger-than-expected earnings

News

Investors are looking past the US tech sector with an uncertain environment clouding the outlook

Nitin MisraMay 20, 23Business, Stock Market

Investors are looking to the U.S. technology sector’s recovery this year for longer-term returns, as higher interest rates and an uncertain macroeconomic picture could create further headwinds, fund managers and strategists said. The technology-heavy Nasdaq Composite has jumped 21% this year, more than doubling the S&P 500’s 9% gain, boosted by better-than-expected earnings and cost-cutting by major companies and expectations of a hiking cycle for the U.S. Federal Reserve. is nearing its end. In the longer term, other sectors are likely to offer better returns at more attractive valuations, said…

Tesla, which this year has aggressively cut vehicle prices in several regions, is resorting to the traditional automakers’ tactic of offering incentives

News

Tesla is offering discounts of more than $1,300 on some Model 3 cars in the U.S

Nitin MisraMay 20, 23Business, Elon Musk, Tesla

Tesla is offering discounts of more than $1,300 on some Model 3 cars in the U.S., amid even bigger discounts in Europe, according to a Reuters estimate on its website, at a time when the electric car maker has raised U.S. prices for most new cars on order. in this month. Tesla, which has aggressively cut vehicle prices in several areas this year, is resorting to a traditional automaker tactic of offering incentives to clear inventory at a time when it faces economic headwinds and increasing competition, industry analysts say.…

About 47 per cent of adults in the US said they used the AI chatbot ChatGPT for stock recommendations, and 69 per cent said they would consider using it in the future, a new study has shown.

News

Nearly half of US adults trust ChatGPT for stock recommendations: Report

Febin MathewMay 20, 23AI, Artificial Intelligence, Business, ChatGPT, Stock Market

Some 47 percent of U.S. adults said they have used AI chatbot ChatGPT for stock recommendations, and 69 percent said they would consider using it in the future, a new survey has found. According to financial and investment advisory firm The Motley Fool, about 45 percent said they would be happy to use only an AI model to pick stocks. After launching ChatGPT, it took five days to reach 1 million users and only two months to reach 100 million users. According to web analytics company SuchWeb, about 1.6 billion…

Company leaders urged staffers to be judicious with their spending, including in relation to hiring, but said there would be no hiring freeze

News

Netflix plans to cut costs by $300 million this year: Report

Adarsh V.KMay 13, 23May 14, 23Business, netflix

Netflix Inc plans to cut costs by $300 million this year, the Wall Street Journal reported on Friday, citing people familiar with the matter. Company executives urged employees to be prudent about their spending, including hiring, but said there would be no hiring freeze or new layoffs, according to the report. Netflix declined to comment. The company’s shares fell almost 2% at the start of trading. Last month, Netflix beat first-quarter estimates but offered a softer-than-expected forecast, indicating the challenges it faces in its pursuit of growth. The company said…

Google has agreed to pay $8 million to settle claims it used deceptive advertisements to promote the Pixel 4 smartphone, Texas Attorney General Ken Paxton announced on Friday.

News

Google agrees to pay $8 million in settlements over misleading Pixel 4 ads

Adriana MaraisMay 13, 23May 14, 23Business, Google, Pixel 4

Texas Attorney General Ken Paxton announced Friday that Google, a unit of Alphabet, has agreed to pay $8 million to settle claims it used deceptive ads to promote the Pixel 4 smartphone. The search and advertising giant, which also makes Android smartphone software and owns YouTube, is under investigation for antitrust and consumer protection violations by both the federal government and state attorneys general. The federal government has filed two antitrust lawsuits. In that case, Paxton’s office alleged that Google hired radio announcers to give testimonials about the Pixel 4,…

The tech giant did not immediately respond to a Reuters request for comment

News

Microsoft won’t raise workers’ wages this year: Report

Adriana MaraisMay 13, 23May 14, 23Business, Layoff, Microsoft

Microsoft Corp will not raise wages for full-time employees this year and will cut the budget for bonuses and stock awards, Insider reported Wednesday, citing an internal email from CEO Satya Nadella. The technology giant did not immediately respond to Reuters’ request for comment. “Last year, we made a significant investment in compensation, driven by market conditions and company performance, and nearly doubled our overall budget … this year, economic conditions are very different in many dimensions,” Nadella was quoted as saying in the report. In January, Microsoft announced it…

San Mateo, California-based Upstart, which uses AI to verify and process loans quickly, said it would receive the capital from new and existing partners

News

Artificial intelligence loan firm surges as $2 billion funding crushes short sellers

Adarsh V.KMay 13, 23May 14, 23AI, Artificial Intelligence, Business

Shares of heavily shorted Upstart Holdings Inc are at their best in more than two years, squeezing bearish investors after the artificial intelligence-based lending marketplace raised $2 billion in additional funding. The company’s stock rose by 35 percent on Wednesday. The San Mateo, Calif.-based Upstart, which uses artificial intelligence to quickly review and process loans, said it will raise capital from new and existing partners over the next 12 months to help the company weather the economic slowdown. Analysts welcomed the new funding, but added that the lack of details…

Cisco has announced strategic investments in Indian manufacturing capabilities as the next step in delivering cutting-edge technologies to our customers in India and across the globe.

News

Cisco CEO meets PM Modi, doubles down on local manufacturing: all details here

Adarsh V.KMay 12, 23Business, CEO, Cisco, Narendra Modi

Global networking giant Cisco Chair and CEO Chuck Robbins on Wednesday met Prime Minister Narendra Modi and discussed how the company has doubled its production to boost exports from the country. Cisco has announced strategic investments in manufacturing capacity in India as the next step in delivering cutting-edge technology to our customers in India and around the world. “Thank you for your leadership dear Prime Minister of India, @narendramodi! Pleased to announce that @Cisco is investing in manufacturing in India with the goal of increasing the combined value of domestic…

As tech layoffs continue unabated amid the global meltdown, Apple CEO Tim Cook has said that mass layoffs are a "last resort" for him.

News

Redundancies are a “last resort”; The company is focused on reducing costs: Tim Cook

Adarsh V.KMay 6, 23Apple, Business, CEO, Tim Cook

As tech layoffs continue unabated amid the global meltdown, Apple CEO Tim Cook has said mass layoffs are his “last resort.” However, the technology giant is reducing costs and has slowed down the pace of recruitment. Cook told CNBC that he views layoffs as a “last resort” and that “mass layoffs are not something we’re talking about right now.” He said the company remains very cautious about hiring. “We’re going to continue to hire, just at a lower clip than we were before. And we’re all doing the right thing…

U.S. chipmaker Broadcom's Chief Executive Hock Tan on Friday will try to convince EU antitrust enforcers that his proposed $61 billion bid for cloud computing firm VMware, which has triggered scrutiny on both sides of the Atlantic, is procompetitive.

News

Broadcom Chief Wants to Convince EU of $61 Billion Contract for VMware

Febin MathewMay 6, 23Broadcom, Business, EU, VMware

BRUSSELS: US chipmaker Broadcom CEO Hock Tan will try to convince EU antitrust regulators on Friday that his proposed $61 billion bid for cloud computing firm VMware, which has sparked scrutiny on both sides of the Atlantic, is pro-competitive. Tan, backed by his executives and lawyers, arrived in Brussels early Friday morning for a closed-door hearing on one of the biggest mergers in tech history. He declined to comment on the matter while scheduling a hearing. Tan will present his case to senior European Commission officials, including Guillaume Loriot, its…

The Silicon Valley titan reported profit of $24 billion on revenue of $94.8 billion in the first three months of this year

News

Apple’s result exceeded the forecast thanks to iPhone sales and service revenue

Adriana MaraisMay 6, 23Apple, Business, iPhone, Revenue, Sales

Apple said Thursday that iPhone sales and revenue from services contributed to quarterly earnings that beat forecasts despite inflationary pressures and a slowing global economy. The Silicon Valley titan reported a profit of $24 billion on revenue of $94.8 billion in the first three months of this year. “We are pleased to report an all-time service record and a record March quarter for iPhone despite a challenging macroeconomic environment,” Apple CEO Tim Cook said in the earnings release. iPhone sales totaled $51.3 billion in the quarter, surpassing the same period…