In a surprising turn of events, Meta shares surged by 6% following the announcement of their second-quarter earnings report. The company revealed that their revenue for the quarter had increased by 22% to $39.07 billion, surpassing Wall Street’s expectations. This significant growth was attributed to a substantial increase from the $32 billion reported the previous
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The relationship between Microsoft and OpenAI has taken a complicated turn, with Microsoft now listing the artificial intelligence startup as a competitor in its latest annual report. Despite years of partnership and significant investment from Microsoft, the inclusion of OpenAI on the list of competitors suggests a shift in dynamics. While Microsoft has been the
In a groundbreaking announcement, Uber and BYD have revealed a strategic partnership that will revolutionize the ride-hailing industry. This partnership is set to bring pricing and financing deals for BYD’s electric cars to Uber drivers in Europe and Latin America. Additionally, the two companies are working on developing “autonomous-capable vehicles” for Uber’s platform, highlighting a
Russia is currently facing ongoing financial pressure from Western sanctions, and as a response to this, the country is considering legalizing the use of cryptocurrency for international payments. This move comes as a significant shift from the Russian central bank’s previous stance on the technology. The State Duma, the lower house of the Russian Parliament,
In a surprising move, Apple announced on Monday that it had chosen Google’s Tensor Processing Unit (TPU) for training the artificial intelligence models that power its Apple Intelligence system. This decision marks a significant shift away from the dominance of Nvidia’s GPUs in high-end AI training chips. The revelation came in a technical paper released
The cryptocurrency market kicked off the final week of July with Bitcoin rising by 2% to $69,640.00, and Ether increasing by 3% to $3,382.15, according to Coin Metrics. This positive movement comes as investors return to the market after a mixed performance last week, where Bitcoin gained 1% and Ether dropped by 7%. Traders are
Former President Donald Trump’s recent keynote speech at the Bitcoin Conference in Nashville, where he hinted at a potential U.S. Bitcoin strategic reserve currency, fell short of offering a groundbreaking solution. While Trump’s proposal to maintain the current level of Bitcoin holdings acquired from financial criminals is a step in the right direction, it lacked
When former President Donald Trump took the stage at the biggest bitcoin conference of the year in Nashville, it marked a significant turning point in the landscape of American politics. Trump’s appearance at the conference, alongside his hosting of a high-priced fundraiser, underscored the increasing importance of the fintech sector in shaping the upcoming 2024
SK Hynix, a major player in the memory chip industry, has announced plans to invest a staggering 9.4 trillion Korean won to build a new semiconductor manufacturing plant in South Korea. The construction of this fabrication plant, located in South Korea’s Yongin Semiconductor Cluster, is a strategic move in the country’s ambitious plans to establish
In the second quarter, Apple faced tough competition in the Chinese smartphone market and was edged out of the top five vendors list. This was primarily due to the increasing dominance of domestic brands such as Huawei. Apple’s market share in China dropped to 14%, down from 15% in the first quarter and 16% in