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Business, Economy

“Billionaire tech CEO says bosses shouldn’t ‘BS’ employees about the impact AI will have on jobs”

“Jim Kavanaugh, CEO of World Wide Technology, told CNBC that people are “too smart” to accept artificial intelligence won’t alter their work environment. Business leaders shouldn’t “BS” employees about the impact of AI on jobs, Kavanaugh said, adding that they… Continue Reading…

Business

“Google agrees to America’s first newsroom funding deal. It’s already unpopular.”

“…Google has brokered a first-in-the-nation deal with California lawmakers to direct millions of dollars to local newsrooms, the latest in a series of global efforts to require tech companies to support the journalism they profit from…” https://www.politico.com/news/2024/08/21/google-california-newsroom-ai-00174817 Now this is… Continue Reading…

Business, Stocks

“Apple shares drop nearly 5% after Warren Buffett’s Berkshire Hathaway slashes stake by half”

“Warren Buffett sent shockwaves through the investing world over the weekend by slashing his big Apple stake by half, causing the tech stock to crater on Monday amid the intensifying global sell-off. Berkshire Hathaway disclosed in its earnings filing that its Apple… Continue Reading…

Business

“Tech elites hate the media. So they’re taking a page from Fox News.”

“…Still, as mistrust in traditional media remains high and readers flock to more identity-focused brands, these projects will likely only gain traction and play an increasingly important role in shaping how the tech industry sees itself and perceives its enemies…”… Continue Reading…

Stocks

“Meta’s 450% Surge Offers Potential for Next Tech Stock Split”

“Meta is the only stock in the so-called Magnificent Seven that hasn’t ever split shares. And, though the stock is off all-time highs hit in April, it’s up more than 450% from a 2022 trough. Trading at more than $500… Continue Reading…

Stocks

“Alibaba shares fall 6% after the Chinese tech giant posts 86% drop in profit”

“…Net income attributable to ordinary shareholders came in at 3.3 billion yuan, down 86% year on year. Shares of Alibaba closed down 6% in the U.S. after falling as much as 8.1% in the first hour of trading…” https://www.cnbc.com/2024/05/14/alibaba-baba-earnings-q4-2024.html The… Continue Reading…

Business

“Tesla jumps 15% after passing key hurdle to roll out advanced driver-assistance tech in China”

“Shares of Tesla rose sharply on Monday, their best day since March 2021, after the electric carmaker passed a significant milestone to roll out its advanced driver-assistance technology in China. The company’s share price closed up 15% as investors reacted to news surrounding… Continue Reading…

Economy, Stocks

“Technology stocks show signs of ‘breaking down’ ahead of Big Tech earnings”

“Technology stocks were broadly showing signs of “breaking down,” as the sector struggles in a slump this month that has deepened significantly, according to Bespoke Investment Group.  The S&P 500’s information-technology sector tumbled 7.3% last week, its biggest weekly drop… Continue Reading…

Business

“Mike Lynch-backed legal tech startup Luminance raises $40 million, capitalizing on AI hype”

“Legal technology firm Luminance has raised $40 million in fresh funding from investors to grow its U.S. footprint, capitalizing on the wave of investor interest surrounding artificial intelligence… Luminance said its annual recurring revenue jumped roughly fivefold in the past… Continue Reading…

Stocks

“It’s No Nvidia, But This Tech Company Is Targeting 325% Earnings Growth In 2024”

“While artificial intelligence giant Nvidia (NVDA) has electrified the stock market, shares of another tech player — software company Confluent (CFLT) — shot up by double digits this year. Now, as the company sees 325% profit growth in 2024, Confluent stock is rising as… Continue Reading…