Tag Archives: Business News

Over the last 2 years, there have been a few cuts within the company as part of its goal to “deliver durable savings through improved velocity and efficiency”. Tech giant Google LLC (NASDAQ: GOOGL) has cut at least 40 jobs in its Google News division. According to those familiar with the matter, the reason behind the layoff round is the uncertainty and sensitive time for online platforms and publishers. The exact number of those who lost their job at the Google News unit is not confirmed....

Tesla continues to hold on to its BTC holding having last sold about 75% of it in the second quarter of 2022. It has now been five consecutive quarters that electric vehicle maker Tesla Inc (NASDAQ: TSLA) has left its sizable Bitcoin (BTC) holdings untouched. That is despite recently spending greatly towards improving its artificial intelligence (AI) ambitions and projects. According to Tesla’s Q3 2023 report that was released on Wednesday, the company still has $184 million worth of...

G42’s recent partnership with OpenAI shows the company’s dedication to fostering AI adoption in the UAE. OpenAI, the brains behind the creation of the popular artificial intelligence (AI) tool, ChatGPT has entered into a strategic partnership with Abu Dhabi’s technology conglomerate G42. In an announcement on Wednesday, the company said that the new collaboration will help advance the adoption of AI technologies in Dubai and across the Middle East market. G42 to Leverage OpenAI’s AI...

Nokia’s cost reduction plan is a strategic move aimed at addressing the challenging market environment it currently faces. Finnish telecommunications giant Nokia Oyj (HEL: NOKIA) has revealed plans to cut up to 14,000 jobs as part of a comprehensive cost reduction strategy, prompted by a substantial drop in Q3 2023 earnings. Nokia Job Cut Reduction Strategy According to reports, Nokia’s decision to cut jobs and streamline its operations is in direct response to its third-quarter earnings...

The discussions during the summit will address the unpredictable nature of AI progress and the critical importance of maintaining human control over its development. The UK is gearing up to host the world’s inaugural international summit on artificial intelligence (AI), focusing on the existing threats associated with this rapidly advancing technology. The two-day event will commence next month from November 1st until the 2nd with the aim of positioning the UK as a mediator between global...

The two chipmaking giants will work on building AI factories for electric vehicles where Nvidia plans to use its own chips and software for the development. Two chip-making giants – Foxconn and Nvidia Corp (NASDAQ: NVDA) – have finally come together to build “AI factories” and data centers for a range of applications including self-driving cars. The announcement came earlier today Wednesday, October 18. Foxconn Chairman Liu Young-way and Nvidia CEO Jensen Huang announced at Foxconn’s...

The Adidas Q3 financial success and better full-year forecast demonstrate the brand’s tenacity and adaptation in the fast-paced world of sportswear and design. Adidas AG (ETR: ADS), the renowned German sportswear giant, has made headlines as its shares climbed 4% during early European trading hours this morning, largely thanks to the unexpected success of its Yeezy inventory. Adidas Full-Year Projections On Tuesday, the company revealed that it anticipates a full-year operating loss of...

Aside from announcing the new tool, OpenAI executives also shared valuable insights into future AI models. OpenAI is working on a new tool capable of detecting AI-generated images with remarkable accuracy levels. Mira Murati, the Chief Technology Officer of OpenAI, shared this development while speaking at the Wall Street Journal’s Tech conference in Laguna Beach, California. According to Murati, the image detection tool has a reliability rate of 99% in determining if the source of an...

OSL exchange’s parent firm has denied reports that its on sale with an estimated valuation of 1 billion Hong Kong dollars ($128 million). BC Technology, the parent firm of Hong Kong-based licensed crypto platform OSL, denied reports that the exchange is up for sale. BC Technology, the parent company of OSL, has refuted Bloomberg’s report on the pending sale as “factually inaccurate and highly misleading” in a statement filed with the Hong Kong Stock Exchange. As per the Bloomberg report,...

ASML is taking a conservative view of 2024, with revenue projections similar to 2023. ASML Holding NV (NASDAQ: ASML), one of the world’s leading semiconductor firms has reported a significant year-on-year rise in profit for the third quarter of 2023, exceeding analyst expectations. However, the company forecasts that its revenue in 2024 will remain flat. This comes as the semiconductor industry experiences a period of uncertainty, with ASML CEO Peter Wennink acknowledging the ongoing...