Bitcoin, the world’s leading digital currency, experienced a significant drop in value on Wednesday, hitting its lowest level in over two months. This sharp decline was triggered by a broader risk-off sentiment in the markets, as investors anxiously awaited the U.S. Federal Reserve’s upcoming interest rate decision. The price of Bitcoin plummeted to $56,757.93, slipping
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Amazon is set to announce its first-quarter earnings after the bell on Tuesday, with analysts predicting earnings per share of 83 cents and revenue totaling $142.5 billion. Wall Street is also closely monitoring other critical figures in the report, including: – Amazon Web Services generating $24.5 billion in revenue – Advertising revenue expected to reach
Tesla’s shares surged in U.S. premarket trading following a major breakthrough in the company’s efforts to introduce its full self-driving technology in China. The stock price spiked by more than 10% as investors reacted positively to the news of Tesla CEO Elon Musk’s visit to China. This development came after local Chinese authorities lifted restrictions
As the competition in the cloud computing industry intensifies, U.S. cloud infrastructure provider Oracle is stepping up its generative AI capabilities to stay ahead of the curve. The demand for AI technology has seen a significant surge, fueled by the launch of chatbot ChatGPT in November 2022. Companies are increasingly leveraging AI for various applications,
Despite the high earnings reported by tech giants like Alphabet and Microsoft, the industry is still experiencing significant layoffs. Layoffs.fyi, a platform that monitors job cuts in the tech sector, noted over 263,000 job losses in 2023 and more than 75,000 so far in 2024. This trend has shifted from rewarding growth to rewarding profit,
Amid economic hardships and uncertainty, digital advertising companies have seen a resurgence in growth. In a year marked by challenges and cutbacks, major players such as Meta, Snap, and Google have surpassed revenue expectations in the first quarter of the year. This growth has not been seen in at least two years, signaling a positive
Former Tesla executive Drew Baglino recently made headlines with his resignation from the electric vehicle company. This departure came on the heels of a significant sell-off of Tesla shares, amounting to approximately $181.5 million. Baglino, who had been with Tesla since 2006, cited personal reasons for his departure, stating that it was a difficult decision
Mark Zuckerberg’s recent earnings call with Meta started with a focus on artificial intelligence, followed by a deep dive into the world of the metaverse. However, instead of highlighting the company’s successes, Zuckerberg spent a significant portion of his opening remarks on how Meta loses money. This strategy failed to resonate with investors, leading to
SK Hynix, the South Korean memory chipmaker, has made a remarkable turnaround in the first quarter of this year. After reporting a net loss of 2.58 trillion won in the same period a year ago, the company recorded a net profit of 1.92 trillion South Korean won ($1.39 billion) this quarter. This positive income marks
The former CEO of cryptocurrency exchange Binance is currently in hot water as U.S. prosecutors are pushing for an above-guidance sentence of 36 months. This case is based on charges related to enabling money laundering, as outlined in a recent sentencing memorandum filed with the court for the western district of Washington. According to prosecutors,