Hyundai, in a bold move reflecting the seismic shift towards electric vehicles (EVs), has disclosed plans for a monumental investment of $50 billion (68 trillion won). This strategic initiative aims to propel Hyundai into the echelons of the top three EV manufacturers globally by the year 2030. The Korean automotive giant's investment strategy is meticulously crafted to fortify its foothold…
Intel Corporation stands poised to receive an unprecedented boost from the U.S. government, marking the largest investment under the CHIPS Act, a significant stride in bolstering domestic semiconductor production. A tentative agreement struck with the Department of Commerce outlines Intel's potential windfall, with up to $8.5 billion in direct funding earmarked to fortify the chipmaker's U.S. manufacturing facilities. These funds…
TrendForce reports that global sales of NEVs, including BEVs, PHEVs, and FCVs, are projected to hit 13.03 million units in 2023, marking a 29.8% growth rate. This growth, while substantial, indicates a slowdown compared to the 54.2% surge witnessed in 2022. Among these figures, BEVs stand at 9.11 million units, with a growth rate of 24%, while PHEVs reach 3.91…
Microsoft Corporation has unveiled a significant expansion of its Copilot Pro subscription, introducing access to LLM GPT-4 Turbo from OpenAI, a move aimed at democratizing advanced AI capabilities for users worldwide. Copilot Pro Goes Global with GPT-4 Turbo The enhanced Copilot Pro subscription now spans across 222 countries, providing users with a plethora of cutting-edge features. Notably, Microsoft is offering…
Bloomberg's Mark Gurman reports that Apple is currently engaged in discussions with Google regarding the integration of the Gemini artificial intelligence engine into the iPhone. This revelation emerges amidst Apple's contemplation of collaborating with OpenAI, the developer behind ChatGPT. Apple and Google have long maintained a search partnership, with Alphabet annually compensating Apple for employing its search engine as the…
Mobile app developers are expected to push more aggressively for subscription-based usage next year. Figures from RevenueCat, which analyzed more than 30,000 apps show that most are struggling to reach $1,000 a month in revenue. RevenueCat is developing a subscription toolkit for mobile apps, ArsTechnica reported. The company lists Reuters, Buffer, Goodnotes, PhotoRoom, and Notion among its customers. It is…
Xiaomi Corporation announced its foray into the electric vehicle (EV) arena, triggering the largest intraday surge in its share prices in over a year. The tech giant's decision to step into the highly competitive EV market marks a pivotal moment in its trajectory, signaling ambitions to rival industry behemoths like Tesla and BYD. Xiaomi's Long-Awaited Entry into the Electric Vehicle…
Pavel Durov, the founder of Telegram, proudly highlighted the staggering success of the messaging app, which now boasts a whopping 900 million monthly active users. Durov revealed that the platform's user base has surged from 500 million at the beginning of 2021, underscoring its exponential growth in a short span. Monetization Milestones: Hundreds of Millions in Revenue Durov disclosed that…
Elon Musk's Tesla has witnessed a staggering 29% plunge in its stock value within a mere 10 weeks, hitting its lowest point since May. This nosedive has led to a jaw-dropping $234 billion reduction in market capitalization, now resting just above $550 billion. Outshining Giants: More Than McDonald's, Disney, or Nike The repercussions are significant, overshadowing the market values of…
SpaceX, under the leadership of visionary CEO Elon Musk, announced a remarkable achievement on X Twitter - a groundbreaking 17 Mbps download speed directly from the Starlink satellite to an unmodified Samsung Android phone. Maximizing Potential: Peak Speeds and Coverage Clarifications Elon Musk proudly shared the achievement, stating, "SpaceX just achieved a maximum download speed of 17 Mbps from the…
Amazon founder Jeff Bezos has offloaded approximately $2.03 billion worth of Amazon stock over the past few days, marking his third significant sale this month alone. The transactions, part of a pre-established trading plan that commenced in November, have garnered attention, especially as Amazon reports total sales reaching an impressive $6 billion for February. Repetitive Trend Emerges This latest development…
During the Intel Foundry Direct Connect event, the tech giant Intel made waves with a bold announcement regarding its future manufacturing endeavors. The company declared its intention to commence the production and development of the Intel 10A node, boasting an incredibly small 1nm analog, by late 2027. Simultaneously, production based on the 14A (1.4nm) node is slated for 2026, marking…
Mercedes-Benz has decided to veer away from its ambitious plan to exclusively sell electric vehicles (EVs) by 2030. The luxury automaker's announcement on Thursday has sent ripples through the automotive industry, signaling a broader sense of caution towards an all-electric future amidst a recent slowdown in EV sales growth. Optimism to Realism: A Reversal of Fortunes Just three years ago,…
Reddit has taken a significant step towards going public, filing an S-1 statement with the Securities and Exchange Commission (SEC) as it eyes an initial public offering (IPO) on the New York Stock Exchange under the symbol RDDT. Financial Snapshot: Revenue Soars, but Profits Elusive According to the filed document, Reddit reported a robust $804 million in revenue for the…
NVIDIA has defied expectations with staggering growth across the board, riding the wave of the artificial intelligence boom. The tech giant's profits soared by an astonishing 265%, while net income experienced an astronomical surge of 769%. As a result, NVIDIA's shares witnessed an impressive 10% surge in the aftermath of the report. NVIDIA, a prominent player in the tech industry,…
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