Tesla, the electric-vehicle maker, recently announced that it would be cutting approximately 600 more employees at its manufacturing facilities and engineering offices across California. This decision is part of a larger restructuring effort by the company to streamline operations and improve efficiency amidst weakening demand for its electric vehicles and increased competition in the market.
Enterprise
India’s initial public offering market has proven to be very favorable for companies looking to launch IPOs. According to Shailendra Singh, managing director at Peak XV Partners, formerly Sequoia Capital India & Southeast Asia, India offers a positive environment for companies to go public. Singh mentioned that the regulatory framework in India is robust, with
Tesla, the electric vehicle company founded by Elon Musk, is facing legal trouble over alleged violations of the Clean Air Act at its assembly plant in Fremont, California. The nonprofit Environmental Democracy Project has filed a lawsuit in federal court, accusing Tesla of emitting harmful pollution into the surrounding neighborhoods “hundreds of times” since January
OpenAI co-founder Ilya Sutskever recently announced his departure from the Microsoft-backed startup in an X post. Sutskever expressed his excitement for the next chapter of his career, hinting at a project that holds personal significance. This news comes in the wake of a leadership crisis within OpenAI, involving co-founder and CEO Sam Altman. Following an
Sony has revealed a 7% decline in annual profits for the fiscal year 2023, largely attributed to a decrease in its financial services division. The company also fell short of its projected unit sales for its flagship PlayStation 5 gaming console. Despite this, Sony managed to exceed revenue expectations for the March quarter, reporting 3.5
OpenAI recently unveiled a new AI model and desktop version of ChatGPT, showcasing an updated user interface and increased functionality for its users. The company’s aim is to make GPT-4 accessible to all users, including those who use the free version of the platform. The new model, GPT-4o, features enhanced speed and capabilities in text,
SoftBank, a prominent tech investment company, recently reported a gain of 724.3 billion Japanese yen ($4.6 billion) in its Vision Fund for the fiscal year ended in March. This marks a significant turnaround for the flagship tech investment arm, as it has not been in the black since 2021. The Vision Fund segment posted a
A recent federal judge in California made a ruling on a lawsuit that was filed by X, formerly Twitter, against Israel’s Bright Data. X accused Bright Data of scraping data from X and selling it while circumventing X Corp.’s anti-scraping technology. The lawsuit alleged that Bright Data violated terms of service and copyrights. Data scraping
The protests against Tesla’s expansion plans in the Berlin-Brandenburg Gigafactory in Germany took a violent turn when climate protesters attempted to break into the plant, as confirmed by local police reports. The situation became tense as unauthorized individuals tried to enter the Tesla factory grounds, prompting the authorities to intervene and prevent the breach. The
The demand for leaders of technology companies to testify before government bodies is not a new phenomenon. In recent years, the CEOs of prominent tech giants like Alphabet, Meta, and TikTok have all been summoned to answer questions from members of Congress. This time, the spotlight is on Microsoft’s top lawyer, Brad Smith, who has