TECH COMPANIES
AI-focused tech firms see big jump in market cap in June
Nvidia shares rose as much as 27% in June, boosting its market capitalization to $3.34 trillion, before giving up some of their gains later in the month, due to profit booking and concerns over its high valuations.
Mid and small IT companies showed sustained improvement in revenue, profit share in March ’24 quarter
Small and medium sized IT companies continued to show year-on-year improvement in the share of aggregate revenue and profit of the sector in the March 2024 quarter though the extent of improvement has tapered down implying resilience from the top tier companies.
Why the Digital Competition Bill has started a polarising debate in the tech industry
India’s Digital Competition Bill has turned previous foes in the tech industry into unlikely allies and sparked a polarising debate on market practices. The Committee on Digital Competition Law (CDCL) on February 27, submitted its report to the ministry of corporate affairs (MCA) after working on it for more than a year.
Elon Musk says X saw record usage during US presidential debate
President Biden's debate performance satisfaction contrasts with Democrats' doubts about his competitiveness against Trump, reflecting uncertainties in the upcoming election.
Micron Tech beats revenue estimates on AI chip demand; shares fall after run-up
Benefiting from the high demand for memory chips, Micron Technology's revenue exceeded expectations in the third quarter. However, the company's forecast for the fourth quarter fell short of optimistic investor expectations, leading to a stock price decline. Micron's unique position in the semiconductor market is driven by the widespread usage of its high-bandwidth memory chips in advanced AI systems.
Apple is first company charged under new EU competition law
Apple is facing intense regulatory scrutiny globally, with charges in the EU, legal battles in the US, and regulatory actions in Britain, signaling a turbulent period for the tech giant in various markets.
- Go To Page 1
UN chief tells consumer tech firms: own the harm your products cause
U.N. Secretary-General Antonio Guterres demands accountability from tech giants for the harm caused by their products and social media platforms. He launches U.N. global principles for information integrity to combat misinformation and hate speech.
Apple's App Store rules breach EU tech rules, EU regulators say
The European Commission, functioning as both the EU's antitrust and technology regulator, announced that it has forwarded its initial findings to Apple after launching an investigation in March. Additionally, the EU executive revealed that it is also opening an inquiry into the iPhone maker concerning its updated contractual terms for third-party app developers and app stores.
European tech must keep pace with US, China: Meta's Nick Clegg
Europe is lagging behind both the United States and China when it comes to technology and innovation, top executive with US firm Meta Nick Clegg has told AFP. Clegg, president of global affairs at the parent company of Facebook, Instagram and WhatsApp, said Europe had a "real problem". Clegg has spearheaded previous efforts by Meta to invest in tech in Europe, announcing in 2021 that the US firm would create 10,000 jobs there to help build the "metaverse".
Former OpenAI cofounder launches new AI company
Ilya Sutskever, cofounder of OpenAI, launched Safe Superintelligence Inc (SSI) shortly after leaving OpenAI, joined by Jan Leike who now leads at Anthropic. Sutskever emphasised SSI's singular focus on advancing AI capabilities while prioritizing safety, aiming for rapid and secure scaling.
US proposes targeted restrictions for AI, tech investment in China
The U.S. proposed rules to regulate investments in China to prevent sensitive technology development, supported by Treasury Assistant Secretary Paul Rosen.
Brazil judge closes coordination probe into Google, Telegram
The bill, which is still pending, would require that internet companies' search engines and social messaging services find and report illegal material, and would charge hefty fines for failures to do so.
Transform your CX with G7 CR's disruptive approach towards customer experience
G7 CR Technologies, a Noventiq company, revolutionizes unified customer experience in the tech industry, driving business transformation and enhancing customer satisfaction.
Ilya Sutskever’s new startup is the latest of many AI ventures coming out of Big Tech
Ilya Sutskever left OpenAI last month and is launching his own startup soon. This is the latest in a larger trend of professionals leaving tech titans to establish their own startups, pursue their own goals and avoid commercialisation of products.
Former OpenAI chief scientist Ilya Sutskever to start a new AI company
The company is focused on creating a safe AI environment at a time when some of the biggest tech companies are looking to dominate the generative AI boom.
US billionaire eyes TikTok takeover to save internet from Big Tech
Frank McCourt, a US real estate billionaire, aims to buy TikTok to rescue the internet from the clutches of major platforms that he firmly believes are destroying society and endangering children. To address the problem, McCourt is campaigning for a "new internet" which, he claims, would wrest control of the web away from major platforms like Instagram, YouTube, TikTok, or X. "These platforms have hundreds of thousands of individual attributes about each of us.
US sues Adobe over hard-to-cancel subscriptions
The Justice Department said in its lawsuit that Adobe hid details of an expensive cancellation fee from consumers "in fine print and behind optional text boxes and hyperlinks." Adobe's website and customer service representatives made canceling additionally challenging, according to allegations in the suit.
OpenAI CEO Sam Altman says company could become benefit corporation: report
One scenario Altman said the board is considering is a for-profit benefit corporation, which rivals such as Anthropic and xAI are using, the report said, citing a person who heard the comments.
Karnataka extends exemption for startups, tech firms from labour regulations for five years
The State Government has extended the exemption for IT/ITES companies from the Industrial Employment (Standing Orders) Act for five more years, benefiting about 18 lakh employees in 8785 IT/BT companies. The exemption aims to address concerns of arbitrary termination, harassment, and promote growth in the technology sector.
Karnataka IT minister meets Arm Holdings executive at London Tech Week
Karnataka IT minister Priyank Kharge met with a top executive from semiconductor company Arm Holdings at London Tech Week to discuss the company's plans in the State. They talked about semiconductor manufacturing, the global startup ecosystem, and more.
US clears way for antitrust inquiries of Nvidia, Microsoft and OpenAI
Federal regulators are proceeding with antitrust investigations into Microsoft, OpenAI, and Nvidia in the AI industry. The Justice Department and FTC are leading the investigations, signaling increased scrutiny into AI technology.
Databricks to buy data management firm Tabular for over $1 billion
San Francisco, California-based Databricks, a data analytics platform using artificial intelligence, said Tabular's team of about 40 members will join it after the transaction is completed in its second quarter ending July 31.
IAMAI view on draft Digital Law not shared by all constituents: four members tell MCA
Four members of IAMAI, including Bharat Matrimony, Match Group, Hoichoi, and ShareChat, express divergent views on ex-ante regulation in the draft DCB to the Ministry of Corporate Affairs.
OpenAI releases former staffers from non-disparagement clauses
In a message sent to former employees Thursday, the company said it would not seek to cancel staffers’ equity that has vested if they spoke out about the company.
Govts, tech firms vow to cooperate against AI risks at Seoul summit
More than a dozen countries and some of the world's biggest tech firms pledged on Wednesday to cooperate against the potential dangers of artificial intelligence, including its ability to dodge human control, as they wrapped up a global summit in Seoul. These dangers also include an AI model that could potentially "evade human oversight, including through safeguard circumvention, manipulation and deception, or autonomous replication and adaptation", they added.
Some AI companies face a new accusation: 'Openwashing'
Proponents of open source AI models say they're more equitable and safer for society, while detractors say they are more likely to be abused for malicious intent. One big hiccup in the debate? There's no agreed-upon definition of what open source AI actually means.
EU demands clarity from Microsoft on AI risks in Bing
Generative AI is one of the risks identified by the commission for the integrity of electoral processes, in particular for the upcoming European Parliament elections in June.
Draft digital competition bill will make business untenable: IAMAI
Ex-ante regimes tell businesses precisely how to behave, or what to do. Under the current ex-post regime of the Competition Act, companies are only required to ensure that their conduct in the market is not anti-competitive. An overlapping ex-ante regime proposed under the digital competition Bill will force tech companies to comply with parallel legislation and undertake measures for additional compliance, the IAMAI said.
China tech giant Alibaba posts modest yearly revenue growth
Chinese ecommerce giant Alibaba announced Tuesday a modest increase in annual revenue, at a time when the firm pursues a major overhaul and regulatory curbs on the country's tech sector are relaxed. Fellow internet giant Tencent posted weakened revenue growth in the first three months of this year, also on Tuesday.
Load More
