Tag: Business
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Exclusive-Amazon’s Bezos pushes Prime Video redesign focused on AI
SAN FRANCISCO, July 23 : Jeff Bezos has identified a new, high-profile platform to help showcase the hundreds of billions of dollars Amazon has bet on artificial intelligence: Prime Video.The Amazon founder and executive chairman pushed Prime Video head Mike Hopkins to overhaul the streaming service so that A
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AMD expected to launch next generation of AI infrastructure to challenge Nvidia
SAN FRANCISCO, July 23 : Advanced Micro Devices is set to launch a raft of AI hardware that will rival Nvidia on Thursday at an event at a downtown convention center in San Francisco.AMD is attempting to capture market share from Nvidia in the fast-growing data center chip sector, especially for so-called inf
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Google hit with US$1 billion EU fine, first under landmark rules
BRUSSELS: Alphabet’s Google was fined a total of €890 million (US$1 billion) on Thursday (Jul 23) for flouting European Union rules aimed at reining in the power of Big Tech, the European Commission said.However, the US tech giant is likely to avoid fresh fines as EU regulators lau
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Byzantine gold objects help archaeologists uncover past of ship wrecked off Croatia
MLJET, Croatia, July 23 : A Byzantine-era ship discovered more than a decade ago on the seabed off Croatia’s southern coast was probably carrying a high-ranking person and his entourage, judging by the gold jewellery found in the wreckage, according to archaeologists.Announcing for the first time on Thursday
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T-Mobile raises free cash flow forecast as customers migrate to premium plans
July 23 : T-Mobile raised its forecast for annual adjusted free cash flow on Thursday and beat quarterly profit estimates, fueled by customer migration to pricier premium plans. The telecom provider has been retiring some legacy wireless plans and moving affected customers to newer offerings, with unlimited p
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Comcast’s Peacock records first ever profit on World Cup, ‘Love Island USA’ boost
July 23 : Comcast’s Peacock streaming service reported its first quarterly profit ever on Thursday, as the soccer World Cup and the hit reality show “Love Island USA” attracted more subscribers.Shares of the company were up 3 per cent in premarket trading. The $189 million pre-tax profit marks a major
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European semiconductor stocks diverge as investors weigh AI demand, growth expectations
July 23 : European semiconductor stocks moved sharply on Thursday after earnings updates, with Soitec surging on strong photonics demand linked to artificial intelligence applications, while STMicroelectronics and BE Semiconductor Industries (Besi) fell as investors reacted to weaker near-term performance and elevat
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Mobileye founder Shashua plans to step down as CEO
July 23 : Mobileye Global said on Thursday that founder Amnon Shashua plans to step down as chief executive officer once a successor is appointed, as the autonomous driving technology maker launched a search for its next leader.The board will hire an executive search firm to select a new CEO, Mobileye said. S
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Blackstone’s quarterly profit gets boost from asset pile, AI investment gains
July 23 : Blackstone, the world’s largest alternative asset manager, reported rising income for the second quarter on Thursday, buoyed by growing assets under management and reaping profit from a mammoth bet on artificial intelligence. The New York-based company said inflows in the quarter pushed total asset
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IBM buys HRL Laboratories in shift to two-track quantum computing strategy
SAN FRANCISCO, July 23 : IBM has agreed to buy HRL Laboratories, a private quantum computing research lab jointly owned by Boeing Co and General Motors, the company said on Thursday, adding a second pillar to IBM’s quantum computing efforts.IBM has been racing against Alphabet’s Google, Microsoft and others t
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