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Global Activists Converge in Puglia for G7 Protest Preparation

In preparation for Saturdays demonstration against the G7 conference in Borgo Egnazia, hosted by Italian Premier Giorgia Meloni, dozens of foreign pro

In preparation for Saturdays demonstration against the G7 conference in Borgo Egnazia, hosted by Italian Premier Giorgia Meloni, dozens of foreign protestors convened in Puglia. At one of the three campsites selected, Fattizze dArneo, activists are making banners and having talks about summit subjects. Reforested by a community at odds with the Porsche Technical Centre nearby, the land has symbolic value. The Global South has significant challenges due to climate change, frequently made worse by G7 and Global North nations, as Ugandan campaigner Nicholas Omonuk noted. The G7—Canada, France, Germany, Italy, Japan, the United Kingdom, and the United States—will debate economic policies and security concerns. The summit will cover global conflicts, artificial intelligence, Africas difficulties, climate change, and China. Read More..

B2B Tech News | 1 months ago        

Amazon Invests $230 Million in AWS Credits for AI Startups

Amazons $230 million investment in AWS credits for AI companies aims to support their growth right from the outset. With the help of these credits, ea

Amazons $230 million investment in AWS credits for AI companies aims to support their growth right from the outset. With the help of these credits, earlystage generative AI businesses will have access to AWS infrastructure, AI models, and processing capacity, enabling quick iterations and scalability. When companies succeed, Matt Wood, VP of AI Products at AWS, emphasised the advantages of quickly pivoting and growing with security and consistency. Furthermore, through the AWS Generative AI Accelerator programme, which offers up to $1 million in AWS credits for each firm, Amazon intends to sponsor 80 startups worldwide. This action highlights AWSs goal to draw in and support companies with an AI emphasis in the face of growing competition in the cloud services market. Read More..

B2B Tech News | 1 months ago        

Broadcom Jumps 15% on Raised AI Chip Revenue Forecast, Stock Split Announcement

Following Nvidias successful strategy, Broadcom announced a 10for1 stock split on Thursday. It increased its annual sales projection for AIrelated chi

Following Nvidias successful strategy, Broadcom announced a 10for1 stock split on Thursday. It increased its annual sales projection for AIrelated chips to $11 billion. This caused Broadcoms shares to rise by 15% on the news. This increase highlights the growing need for semiconductor technologies that enable artificial intelligence applications. The companys software sector, which profited from the VMware purchase and contributed $2.7 billion to secondquarter revenue, further supported its strong performance. Analysts point out Broadcom has a strategic edge in leveraging the growing generative AI investments, mainly because of its alliances with significant hyperscalers like Google and Meta Platforms. The favourable reaction from the market highlights Broadcoms critical position in the semiconductor industrys transition to AIdriven technologies. Read More..

B2B Tech News | 1 months ago        

Adobe Raises Fiscal 2024 Revenue Forecast on Strong AI Tool Demand

After estimating sales between $21.30 billion and $21.50 billion for the fiscal year 2024, Adobe ADBE.O increased that estimate to between $21.40 bill

After estimating sales between $21.30 billion and $21.50 billion for the fiscal year 2024, Adobe ADBE.O increased that estimate to between $21.40 billion and $21.50 billion. This change comes after a spike in demand, especially from companies and consumers amid indications of economic stabilisation, for its AIpowered editing products like Premiere Pro and Photoshop. The companys competitive advantage against rivals like OpenAI and Stability AI has been reinforced by its strategic integration of AI, which includes ambitions to integrate AI picture production into Photoshop through its Firefly tool. Additionally, Adobe increased its guidance for fullyear adjusted earnings per share to $18.00$18.20 from $17.60$18.00, citing robust performance in digital media and surpassing secondquarter sales projections of $5.31 billion with $3.91 billion in digital media revenue. Read More..

B2B Tech News | 1 months ago        

ByteDance Initiates Workforce Downsizing in Indonesia PostTokopedia Acquisition

The company that controls TikTok, ByteDance, is reducing the number of employees in Indonesia after purchasing the bulk of Tokopedia from the GoTo gro

The company that controls TikTok, ByteDance, is reducing the number of employees in Indonesia after purchasing the bulk of Tokopedia from the GoTo group. Although the number of job losses has not been disclosed, sources indicate that about 450 roles might be impacted. Speaking on behalf of ByteDance, Nuraini Razak said that the reorganisation intends to simplify operations once TikTok and Tokopedia are integrated. This action is in response to Indonesian laws forbidding social media companies from operating freely in ecommerce. These laws have previously impacted ByteDances ecommerce endeavours within the nation. As it aligns teams to improve organisational efficiency and harmony, ByteDance plans to help Tokopedias staff during this transition. Tokopedia is still a significant participant in Southeast Asias ecommerce market. Read More..

B2B Tech News | 1 months ago        

Citron Research Closes Short Position on GameStop After Brief Stint

Only a few days after beginning its short position, wellknown short seller Citron Research has terminated its stake on GameStop GME.N. According to fo

Only a few days after beginning its short position, wellknown short seller Citron Research has terminated its stake on GameStop GME.N. According to founder Andrew Left, it was closed profitably despite the short position having just recently been launched. This choice is made in view of GameStops recent capital raising endeavours, which saw the business raise $4 billion in cash reserves thanks to the $2.14 billion in gross profits from the sale of stock. Although Left said Citron was no longer short, he would think about shorting GameStop once more if the companys shares hit the $45–$50 mark. Even with the recent ups and downs after Keith Gills comeback, GameStops stock has proven resilient, rising sharply from levels seen in midMay. Read More..

B2B Tech News | 1 months ago        

JPMorgan Chase Boosts Investment Banking Revenue Forecast by 2530%

JPMorgan Chase JPM.N has updated its forecast for investment banking income, predicting a notable rise of 25% to 30% in the upcoming quarter, mainly d

JPMorgan Chase JPM.N has updated its forecast for investment banking income, predicting a notable rise of 25% to 30% in the upcoming quarter, mainly due to active capital markets. Compared to prior estimates made in May that had indicated a midteens percentage increase, this revised prognosis indicates a more optimistic view. The coCEO of JPMorgans commercial and investment bank, Troy Rohrbaugh, emphasised the firms overall gains throughout its franchise as well as the capital markets ongoing strength. He said that trading revenue is predicted to increase somewhat as well, above earlier projections of growth in the midsingle digits. Read More..

B2B Tech News | 1 months ago        

Senegal Launches Inaugural Offshore Oil Project at Sangomar Fields

Senegals first offshore oil project, Woodside Energy, has gone into production, a significant development for the countrys economic future. The projec

Senegals first offshore oil project, Woodside Energy, has gone into production, a significant development for the countrys economic future. The project, situated near the Sangomar oil resources 100 kilometres offshore, aims to produce 100,000 barrels of oil per day. This comes after Senegals successful exploration campaign in 2014, which sparked expectations for significant financial advantages from oil and gas extraction. Nonetheless, with a new administration taking office this year, there is a renewed emphasis on amending current agreements with foreign companies that have been judged unfavourable. President Bassirou Diomaye Faye strongly emphasises openness and plans to audit the mining, oil, and gas industries to guarantee that Senegal receives equitable advantages. Read More..

B2B Tech News | 1 months ago        



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