Brazil’s Supreme Court said on Friday that lawyers for social media platform X paid fines to the wrong bank, delaying the decision on whether to allow the company to resume operations in Brazil. The fines, which X’s lawyers argued were paid correctly, are the last requirement before the court can authorize the company to operate …
Brazil’s top court says X paid overdue fines to the wrong bank. Read More »
Samsung Electronics is expected to report a quarterly profit of 10.33 trillion won ($7.67 billion) for the quarter ending September 30, up from 2.43 trillion won last year. The chip division is estimated to earn 5.5 trillion won, which is 15% lower than the previous quarter due to bonus costs. Samsung’s slow move into AI …
OpenAI, the creator of ChatGPT, has raised $6.6 billion from investors, potentially valuing the company at $157 billion and solidifying its status as one of the world’s most valuable private firms. This funding round includes returning venture capitalists like Thrive Capital and Khosla Ventures, as well as OpenAI’s main corporate supporter, Microsoft, and new participation …
OpenAI has closed a $6.6 billion funding round, backed by Microsoft and Nvidia. Read More »
Cisco Systems (CSCO.O) plans to invest in CoreWeave, valuing the cloud services provider at $23 billion, Bloomberg News reported on Thursday, citing sources. CoreWeave, backed by Nvidia (NVDA.O), collaborates with AI startups and competing cloud providers to create clusters designed for AI workloads. In September, Bloomberg reported that CoreWeave CEO Michael Intrator had discussed a …
Cisco to invest in CoreWeave at a $23 billion valuation Read More »
On Thursday, the United States offered EVgo a conditional loan guarantee of up to $1.05 billion to help expand electric vehicle charging stations nationwide, including in underserved urban areas. If finalized, the loan from the Department of Energy will support EVgo in setting up around 7,500 public high-power charging points at nearly 1,100 stations, with …
US Offers EVgo $1.05 Billion Loan for EV Chargers Read More »
On Friday, French IT consulting group Capgemini announced it now expects annual revenue to decline, revising its earlier forecast of stable growth, due to weakness in the North American market. The Paris-based company predicts organic sales will fall between 0.5% and 1.5%, a shift from the previously anticipated 0-3% increase. CEO Aiman Ezzat stated that …
CrowdStrike’s CEO George Kurtz announced on Thursday that more than 97% of Windows sensors are back online, nearly a week after a software update by the cybersecurity firm caused a global outage. The company’s Falcon platform sensor, a security agent installed on devices like laptops and desktops, protects them from threats. The outage occurred due …
CrowdStrike reports more than 97% of Windows sensors are now operational Read More »
On Thursday, Epic Games announced that “Fortnite” will soon return to Apple’s iOS systems in the European Union. This comes amid a legal dispute with Apple. Epic has been working to distribute its games beyond official app stores, opposing high commissions on in-app payments and restrictions on downloading apps only through dedicated stores. Additionally, Epic …
Epic Games announces Fortnite’s return to iOS in the EU, exits Samsung app store Read More »
Alphabet’s (GOOGL.O) stock dropped more than 3% on Wednesday due to concerns that its increasing investments in AI infrastructure could impact profit margins and the challenges faced by YouTube in securing ad revenue. In the second quarter, the Google parent’s capital expenditure surged to $13.2 billion, exceeding expectations, as it invests heavily in AI infrastructure …
Alphabet’s Shares Drop as Margin Concerns and YouTube Slowdown Outweigh AI Gains Read More »
South Korea’s SK Hynix (000660.KS) posted its highest quarterly profit since 2018 on Thursday, attributing the surge to strong demand for AI chips, including high bandwidth memory (HBM) used in generative AI chipsets, supplied to Nvidia (NVDA.O). “AI demand continues to grow above expectations… We expect next year’s HBM shipments to more than double this …
Nvidia Supplier SK Hynix Reports Highest Profit in 6 Years Amid AI Boom Read More »
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