Over $1.93 trillion was erased from the global financial markets on Monday as fears of a potential recession gripped investors. The US stock indices experienced significant declines, fueled by weak economic data released last week. US Indices Plummet At 11:30 a.m. ET, the Dow Jones Industrial Average had plummeted 863.70 points, or 2.17%, landing at 38,873.56. Similarly, the S&P 500…
Meta Platforms Inc. reported stronger-than-expected second-quarter sales on Wednesday, highlighting the positive impact of its investments in artificial intelligence (AI) on targeted ad sales. This progress has given CEO Mark Zuckerberg more time to validate his significant bets on both AI and the metaverse. Following the announcement, Meta's shares surged in Thursday trading. Zuckerberg emphasized the company’s advancements in AI,…
Google is pushing the boundaries of digital navigation by rolling out significant updates to its two flagship apps, Google Maps and Waze. These enhancements bring the two platforms closer in functionality while maintaining their distinct identities, making everyday commuting more intuitive and efficient for users worldwide. Google Maps Integrates Waze-Like Features Google Maps, known for its comprehensive navigation and exploration…
OpenAI has announced the testing of a new prototype named "SearchGPT." The startup behind the renowned ChatGPT is exploring the integration of its advanced AI models with real-time web information to deliver quick and relevant answers to online queries. SearchGPT is currently being tested by a select group of users and publishers, who are providing feedback to refine the features.…
Nike has positioned the Paris Olympics as a moment to reclaim “sharper and bolder” marketing. The sportswear giant is making a comeback with a new campaign, "Winning Isn’t for Everyone," that examines the ruthless drive it takes to be a top athlete, according to a press release. Actor Willem Dafoe narrates the ads that probe the qualities motivating sporting greats,…
As a result of the investigation regarding the global interruption in devices using the Windows operating system, it was determined that the outage is linked to the US-based cybersecurity firm CrowdStrike's software. The disruption was not caused by a cyber-attack, the Information Technologies and Communication Authority of Türkiye announced on Friday. "CrowdStrike is aware of reports of crashes on Windows…
Global electricity demand is forecast to grow by around 4% in 2024, up from 2.5% in 2023, according to the International Energy Agency’s (IEA) newly released “Electricity Mid-Year Update” report. This would represent the highest annual growth rate since 2007, except for rebounds after the global financial crisis and the pandemic. The increase in global electricity consumption is set to…
Threads, Meta's alternative to X (formerly Twitter), has hit 175 million monthly users a year after its out-of-the-blue launch. "What a year," Meta CEO and Facebook founder Mark Zuckerberg said Wednesday on Threads in announcing the platform had reached the threshold. Threads, which hit app stores on July 5 last year, is a spin-off of Instagram and is intended to…
Trillion-Dollar MilestoneTaiwanese semiconductor titan TSMC briefly joined a rarefied club of companies valued at more than $1 trillion on Monday. With most of its factories based in Taiwan, TSMC is well-placed to also reap the rewards of the AI frenzy. The Godfather of TSMCMIT and Stanford graduate Morris Chang founded TSMC in 1987 after an extensive tech industry career in…
Seattle-based VivoKey Technologies offers subdermal crypto wallets for safe cryptocurrency transactions using NFC and RFID technology. The thought of losing a crypto wallet full of Bitcoin, Ethereum, or the latest meme coin can give any investor nightmares. Seattle-based Dangerous Things and VivoKey Technologies have a novel way to keep your coins on you at all times: by putting them in…
The Seoul-based company revealed a stark 58% decline in operating profit for the quarter ending June 30, amounting to 195.3 billion won ($141 million). This figure fell short of analyst expectations, which had projected earnings of 282 billion won, according to data compiled by Bloomberg. Exacerbating the situation, LG Energy Solution posted an operating loss of 252.5 billion won when…
Samsung Electronics Co. has reported its fastest pace of sales and profit growth in years, driven by a rebound in memory chip demand amid accelerating global AI development. The world's largest maker of memory chips and smartphones posted a remarkable 15-fold increase in operating profit to 10.4 trillion won ($7.5 billion) for the June quarter, surpassing analysts’ projections. Sales surged…
Microsoft is set to invest €2.2 billion ($2.4 billion) in a substantial data center project in northeastern Spain, according to regional authorities. This move marks a significant step for Aragon as it strives to become a prominent cloud storage hub. The announcement, which follows previous plans unveiled by the US software giant, brings Microsoft's total planned investment in Aragon to…
Google's greenhouse gas emissions in 2023 were 48% higher than in 2019, according to its latest environmental report. The tech giant attributes this surge to the escalating energy needs of its data centers, driven by the explosive growth of artificial intelligence (AI). AI-powered services require significantly more computer power—and consequently, electricity—than standard online activities. This has prompted numerous warnings about…
Amazon.com Inc. has reached a $2 trillion market valuation for the first time ever, propelled by an artificial intelligence-fueled rally that has pushed the tech giant into record territory. Shares rose 3.9% on Wednesday to close at $193.61, elevating the market value to over $2 trillion. Amazon now joins an elite club of peers that have surpassed this key market…
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