Tech Trends Archives - Page 4 of 13

Polish game developer CD Projekt reports 44% increase in first-quarter profits

Leave a Comment / Tech News, Tech Trends / May 29, 2024 May 29, 2024

Polish video game developer CD Projekt (CDR.WA) announced a 44% increase in first-quarter net profit on Tuesday, surpassing analyst expectations. The net profit reached 100.1 million zlotys ($25.6 million), significantly higher than the anticipated 76 million zlotys, primarily driven by robust game sales. Sales revenue for the quarter increased by 30% year-over-year to 226.8 million …

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GameStop sees significant surge following $933 million stock sale

Leave a Comment / Tech News, Tech Trends / May 27, 2024 May 27, 2024

GameStop (GME.N) generated approximately $933.4 million through the sale of 45 million shares, the struggling video game retailer announced on Friday, causing its shares to surge by more than 12% after trading hours. The company, primarily reliant on brick-and-mortar stores, has been grappling with the increasing trend of customers turning to e-commerce platforms for purchasing …

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China establishes third fund with $47.5 billion to enhance semiconductor industry

Leave a Comment / Tech News, Tech Trends / May 27, 2024 May 27, 2024

China has established its third planned state-backed investment fund to enhance its semiconductor industry, with a registered capital of 344 billion yuan ($47.5 billion), according to a filing with a government-run company registry. The hundreds of billions of yuan invested in the sector highlight President Xi Jinping’s drive for China to achieve self-sufficiency in semiconductors. …

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Itochu subsidiary inks renewable energy deal with Google in Japan

Leave a Comment / Markets, Tech Trends / May 24, 2024 May 24, 2024

On Friday, Itochu (8001.T) announced that it had entered into a long-term power supply agreement with Google (GOOGL.O) to support the tech giant’s renewable energy objectives in Japan. Under the agreement, Itochu’s portfolio company, Clean Energy Connect (CEC), will commence supplying Google with solar power starting in 2024. By 2026, CEC aims to deliver up …

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Micron Faces $445 Million Verdict in Netlist Patent Trial

Leave a Comment / Tech Trends / May 24, 2024 May 24, 2024

Chip manufacturer Micron Technology (MU.O) has been ordered by a U.S. jury to pay computer-memory company Netlist (NLST.PK) $445 million in damages for breaching Netlist’s patent rights concerning memory-module technology for high-performance computing. The verdict, rendered by jurors in the U.S. District Court for the Eastern District of Texas, supports Netlist’s claims that Micron’s semiconductor-memory …

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OpenAI, led by Sam Altman, Enters Content Agreement with News Corp

Leave a Comment / Tech Trends / May 23, 2024 May 23, 2024

OpenAI, led by Sam Altman, has signed an agreement to access content from major news publications owned by media conglomerate News Corp (NWSA.O), the companies announced on Wednesday. This deal follows a recent agreement by the Microsoft-backed (MSFT.O) AI giant to license content from the Financial Times for AI model development. Having access to extensive …

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South Korea Unveils $19 Billion Support Package for Chip Industry

Leave a Comment / Future, Tech News, Tech Trends / May 23, 2024 May 23, 2024

On Thursday, South Korea revealed a 26 trillion won ($19 billion) support package for its crucial semiconductor industry, according to the presidential office. President Yoon Suk Yeol announced that the government plans to provide approximately 17 trillion won in financial support through the state-run Korea Development Bank to facilitate large-scale investments by semiconductor companies. Additionally, …

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Nvidia’s AI-Driven Earnings Set to Challenge the Record Streak of US Stocks

Tech News, Tech Trends / May 22, 2024 May 22, 2024

On Wednesday, earnings from semiconductor leader Nvidia (NVDA.O) are poised to challenge the ongoing rally in the U.S. stock market, which has seen indices reach all-time highs this year. Nvidia’s stock has surged 90% this year, positioning it as the third largest U.S. company by market capitalization, behind only Microsoft (MSFT.O) and Apple (AAPL.O). Nvidia’s …

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Xpeng Shares Soar Due to Tech Service Revenue and Positive Self-Driving Tech Outlook

Leave a Comment / Tech Auto's, Tech News, Tech Trends / May 22, 2024 May 22, 2024

Shares of Chinese electric vehicle producer Xpeng (9868.HK) climbed over 10% on Wednesday, propelled by increased revenue from research and development services to Volkswagen and positive statements regarding its self-driving technology prospects. After deepening its partnership with VW in April to collaborate on EV architecture, Xpeng reported that these R&D services largely accounted for its …

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Google to Introduce Ads in Search AI Overviews

Leave a Comment / Tech News, Tech Trends / May 22, 2024 May 22, 2024

Google announced it will begin testing search and shopping ads within its AI-generated answers in the U.S. The Alphabet-owned company revealed this on Tuesday, shortly after the widespread rollout of the AI Overviews feature at its annual I/O conference. According to a blog post from Google, ads will be displayed in a ‘sponsored’ section within …

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