MICROSOFT OFFICE
How Microsoft's Satya Nadella became tech's steely-eyed AI gambler
Nadella, Microsoft's CEO, had his eyes on a Silicon Valley startup called Inflection AI. The company's CEO, Mustafa Suleyman, was one of the founders of the pioneering artificial intelligence company DeepMind.
Wall Street’s broadening trade pressures index-tracking billions
Such a broadening in the winners’ list has been sought for years by market skeptics lamenting an equity melt-up whose momentum has been generated by a tiny cohort of asset-light firms. But it’s a less obvious blessing in the short term for passively managed investors. They’ve stashed one in every four ETF dollars in just five funds — products that are now perilously exposed to the fate of the Magnificent 7.
Wall Street Week Ahead: Expected US rate cuts have investors looking beyond big tech
Looming U.S. interest rate cuts are challenging investors to choose between continuing to invest in high-performing Big Tech stocks or diversifying into less favored market areas that could benefit from easing monetary policy. Recent market movements suggest a potential shift, as small caps and economically sensitive sectors show gains amid expectations of lower rates, while tech stocks face declines reminiscent of the late 1990s dot-com bubble.
European regulators crack down on Big Tech
EU regulators probe Big Tech. Apple addresses DMA breaches, Spotify's complaint. Microsoft leaves OpenAI’s board. Meta's consent model, CrowdTangle features, Facebook, Instagram’s child safety scrutinized. Google fined 2.42 billion euros. Amazon's DSA compliance checked. NVIDIA faces French probe. TikTok, Meta gatekeeper disputes. Italy fines Facebook, Meta. Germany ends Google probe. UK investigates cloud market. Spain suspends Meta products.
Microsoft, Apple drop OpenAI board plans as scrutiny grows
Microsoft and Apple have decided against taking board roles at OpenAI, citing regulatory scrutiny. Microsoft's $13 billion investment and integration of OpenAI's tech in products like Windows face antitrust probes. Despite withdrawing, concerns about stifling competition persist. US and European regulators are scrutinizing Big Tech's dominance in AI. Analysts foresee AWS and Google becoming preferred partners amid growing demand and regulatory pressure. This move underscores challenges as tech giants balance innovation and regulatory compliance in the AI landscape.
Tata 1mg’s FY24 report; Cognizant-Wipro CFO lawsuit settled
Epharmacy Tata 1mg reported a 21% rise in revenue to Rs 1,968 crore for FY24. This and more on today’s ETtech Top 5.
Microsoft ditches OpenAI board observer seat amid regulatory scrutiny
iPhone maker Apple had also been expected to take an observer role on OpenAI's board but would not do so, the Financial Times reported, citing a person with direct knowledge of the matter. Apple did not respond to a request for comment.
EU vs Big Tech: the cases keep mounting
European regulators have launched a series of probes into Big Tech. In the latest move, the European Commission asked Amazon for more information on its compliance with the Digital Services Act (DSA), which requires Big Tech players to do more to tackle illegal and harmful content on their platforms.
Steve Ballmer is richer than Bill Gates, a first for Microsoft billionaires
Steve Ballmer surpassed Bill Gates to become the sixth-richest person globally, as Microsoft shares hit a record high, gaining 21% this year. Ballmer's net worth reached $157.2 billion, mostly in Microsoft shares, while Gates' diversified $156.7 billion fortune includes investments through Cascade Investment. Gates' wealth has reduced due to philanthropy, having donated nearly $60 billion to the Gates Foundation. Ballmer, who hasn't signed the Giving Pledge, focuses on smaller-scale philanthropic efforts. He succeeded Gates as Microsoft's CEO in 2000 and retired in 2014, later buying the Los Angeles Clippers.
Microsoft breached antitrust rules by bundling Teams with office software, European Union says
The European Commission stated that Microsoft may have provided Teams with a "distribution advantage" by not allowing customers the option to choose whether to include Teams when purchasing the software. Last year, Microsoft made certain adjustments in an attempt to avoid penalties, such as offering software packages without Teams specifically for European customers. However, the commission has indicated that these measures are insufficient.
How an IT professional took revenge against his manager's 'No Work From Home' policy
An IT professional, frustrated with his company's strict 'no work from home' policy, deleted Microsoft Teams and email from his phone to ensure he was unreachable after office hours. This defiant move garnered widespread support online after a screenshot of his Reddit post went viral. Many applauded his stance, highlighting the benefits of remote work and the importance of maintaining work-life balance.
Nvidia loses top spot to Microsoft after 3% drop
Nvidia's shares declined, losing its title as the world's most valuable company to Microsoft. Nvidia's market capitalization dropped by $91 billion to $3.34 trillion, while Microsoft's value also decreased to $3.30 trillion.
Nvidia loses top spot to Microsoft after 3% drop
Nvidia, whose market capitalisation surpassed that of Microsoft on Tuesday, was set to lose around $91 billion to its last closing market value of $3.34 trillion, at the current level of $131.88.
The rising importance of the chief trust officer
Businesses are emphasizing trust by appointing a Chief Trust Officer (CTrO) to oversee trust-building initiatives. This role involves assessing trust levels within and outside the organisation, focusing on domains like corporate culture, compliance, and customer experience.
Google highlights Microsoft's cyber failures in effort to lure customers
Government agencies that switch 500 or more users to Google Workspace Enterprise Plus for three years will get one year free and be eligible for a "significant discount" for the rest of the contract, said Andy Wen, the senior director of product management for Workspace. The Alphabet division is offering 18 months free to corporate customers that sign a three-year contract, a hefty discount after that and incident response services from Google's Mandiant security business. All customers will receive free consulting services to help them make the switch.
Sanjiv Bhasin is bullish on these 7 stocks, recommends avoiding Zee
Sanjiv Bhasin suggests holding RattanIndia for further gains. His top picks include Embassy Office and Wipro, with potential gains to Rs 450 and Rs 700, respectively. Zydus and Lupin stand out in pharma, while Zee remains an avoid due to management issues.
Nine in 10 Indian knowledge workers use AI in workplace: Report
A recent study by Microsoft and LinkedIn revealed that 92% of Indian knowledge workers utilize artificial intelligence in the workplace, with 91% of business leaders recognizing the need for AI adoption to remain competitive. The report highlights the impact of AI on work dynamics, career growth opportunities, and the rise of AI-savvy professionals shaping the future workforce.
Microsoft buys land in Hyderabad for Rs 267 cr to build data centre
Microsoft has acquired 48 acres of land in Hyderabad for a deal worth around '267 crore. The property, located about forty kilometers from Hyderabad, is part of Microsoft's plans to expand its data centre business. The acquisition adds to its existing network of three data centre regions in India, Pune, Mumbai, and Chennai. Microsoft currently operates an India Development Centre (IDC) in Hyderabad, which has been instrumental in the development of its technological offerings.
Germany recalls its ambassador in Russia for a week in protest over a hacker attack
Germany last week accused Russian military agents of hacking into the top echelons of Scholz's Social Democrats' party and other sensitive government and industrial targets. Berlin has joined NATO and fellow European countries in warning that Russia's cyberespionage would have consequences.
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