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Reddits Shares Surge 13% on OpenAI Partnership News

Reddits stock RDDT.N jumped 13% on Friday on announcing a partnership with OpenAI, which is expected to increase the platforms advertising income. The

Reddits stock RDDT.N jumped 13% on Friday on announcing a partnership with OpenAI, which is expected to increase the platforms advertising income. The stocks recent gain has brought it closer to its record closing price of $65.11 in late March, with a possible increase in market value of $1.2 billion. Through the partnership, Reddit can leverage OpenAIs technology to create tools and features, allowing Reddits content to be instantly integrated into OpenAIs ChatGPT platform. Reddit will also have OpenAI as an advertising partner estimates show that OpenAI might make between $50 million and $60 million a year. The alliance supports Reddits pledge to take advantage of AI prospects during its first public offering. OpenAI has gotten content licensing agreements with extensive publications despite recent cases against it, demonstrating its expanding power. Read More..

B2B Tech News | 1 months ago        

China Launches AntiDumping Probe into POM Copolymers from EU, US, Japan, and Taiwan

The European Union, the United States, Japan, Taiwan, and POM copolymers—a kind of engineering plastic—are the subject of an antidumping probe lau

The European Union, the United States, Japan, Taiwan, and POM copolymers—a kind of engineering plastic—are the subject of an antidumping probe launched by Chinas trade ministry. These polymers are used in many industries, including electronics, medical equipment, and vehicle components, and they can partially replace metals like copper and zinc. Although a year is anticipated for the investigations conclusion, it may need to be prolonged for an extra six months. The European Commission has replied cautiously, stressing the need to adhere to WTO regulations and adding that it will carefully review the investigations facts before deciding on additional steps. Chinas action coincides with rising trade tensions with the US and Europe, as both regions have lately imposed tariffs and opened trade probes. Read More..

B2B Tech News | 1 months ago        

Japan, ASEAN Plan Joint Strategy for Automobile Production Amid Chinas EV Push

According to reports, Japan and the Association of Southeast Asian Nations ASEAN would cooperate to develop their first cooperative plan for car manuf

According to reports, Japan and the Association of Southeast Asian Nations ASEAN would cooperate to develop their first cooperative plan for car manufacturing and sales in Southeast Asia. The action is a reaction to Chinas growing influence in the electric car industry. The suggested approach is anticipated to be completed by around 2035, with preliminary conversations commencing as early as September during the meeting of ASEAN and Japanese economic ministers. The plan is expected to address issues including hiring qualified staff, decarbonising operations, obtaining mineral resources, and funding new industries like biofuels. Japans Ministry of Economy, Trade, and Industry has obtained 140 billion yen, some of which it intends to use for staff training. Read More..

B2B Tech News | 1 months ago        

Crypto Startup Funding Surges to $2.4 Billion in Q1 2024 PitchBook Data

According to PitchBook statistics, financing for cryptocurrency startups increased to $2.4 billion in the first quarter of 2024 across 518 deals, repr

According to PitchBook statistics, financing for cryptocurrency startups increased to $2.4 billion in the first quarter of 2024 across 518 deals, representing the second consecutive quarterly rise. The first U.S. bitcoin spot ETF was introduced, and forecasts of decreasing interest rates drove this rise, up 40.3% from the previous quarter. Even though market upheavals and economic worries have caused investor trust in digital asset companies to decline since 2022, the legalisation of spot bitcoin ETFs—most notably by Fidelity and BlackRock—boosted the industrys respectability. Blockchain infrastructure and cryptocurrencyfocused startups brought in a lot of money Together, AI closed the biggest deal of $106 million. Analyst Robert Le predicts further merger activity among cryptocurrency exchanges, custodians, and infrastructure providers as the market matures. Read More..

B2B Tech News | 1 months ago        

Raghuram Rajan Sounds Alarm on Indias Demographic Dividend Will Prosperity Match Population Growth?

The former governor of the Reserve Bank of India, Raghuram Rajan, doubts whether India can benefit from its demographic dividend and if its citizens c

The former governor of the Reserve Bank of India, Raghuram Rajan, doubts whether India can benefit from its demographic dividend and if its citizens can grow wealthy before the country matures. Rajan underlined the difficulty of efficiently utilising the substantial number of young people joining the workforce, notwithstanding Indias quick economic development. Despite Indias GDP being higher than that of many industrialised countries, Rajan emphasised the significance of guaranteeing universal prosperity and preventing inequality. He also emphasised that to accomplish meaningful wealth creation, the economy must develop faster than it is now. While acknowledging that Prime Minister Modi has led to infrastructural development, Rajan warned about undervaluing inclusive economic and social progress. Read More..

B2B Tech News | 1 months ago        

Elon Musk Considers EV Battery Plant Offer in Indonesia After Talks with President

After meeting with President Joko Widodo, Elon Musk said he would consider an offer to build an electric car battery facility in Indonesia, according

After meeting with President Joko Widodo, Elon Musk said he would consider an offer to build an electric car battery facility in Indonesia, according to the countrys coordinating minister of investments. Musk and Widodo discussed possible investments, such as building an AI centre and an EV battery facility. The Indonesian government wants to grow the EV industry using its abundant nickel resources. Furthermore, SpaceX has made its Starlink satellite internet service commercially available, which prioritises rural areas. Starlink was initially introduced for Indonesias health sector. The government aims to improve connections, and Musks businesses may contribute to Indonesias technical advancement through investments Read More..

B2B Tech News | 1 months ago        

Arm Holdings Shares Drop 7% After Revenue Forecast Misses Expectations

Arm Holdings shares tumbled almost 7% in extended trade after the companys fullyear sales projection fell short of market expectations. Arm projected

Arm Holdings shares tumbled almost 7% in extended trade after the companys fullyear sales projection fell short of market expectations. Arm projected sales for the first quarter of the current fiscal year at $875 million to $925 million, with a median of $900 million. In contrast, the average analyst estimate for the same period was $857.5 million. Arm also projects sales for the entire year that will fall short of the consensus forecast of $3.99 billion, coming in between $3.8 billion and $4.1 billion, with a median of $3.95 billion. The corporation released a set of guidelines, citing the challenge of scheduling licencing arrangements. Arms revenue increased 47% in the fourth quarter to $928 million, driven by a 37% increase in the royalties section and a 60% growth in the licencing division. Even with wagers on Arms perspective in AI computing, its earnings and profit have seen a different level of benefit than Nvidia, reflected in their respective share prices. Read More..

B2B Tech News | 1 months ago        

TCS CEO K Krithivasans Compensation at Rs 25.36 Crore in FY2324, Lowest Among Major IT Firms

K Krithivasan, the CEO and MD of Tata Consultancy Services TCS, earned the lowest yearly salary of major IT businesses in the fiscal year 2023–2024,

K Krithivasan, the CEO and MD of Tata Consultancy Services TCS, earned the lowest yearly salary of major IT businesses in the fiscal year 2023–2024, at Rs 25.36 crore. A Rs 21 crore commission was part of his deal. Salil Parekh, the CEO of Infosys, made around Rs 56 crore last fiscal year, while Srinivas Pallia, the CEO of Wipro, took home about Rs 50 crore. Despite receiving less money, Krithivasan is concentrated on using Generative Artificial Intelligence Gen AI at TCS. The startup wants to help customers use AI to operate more productively, perform better, and bring about change. Cost reduction, cloud transformation, and vendor consolidation dominated the corporate landscape in FY24, with cloud adoption emerging as a driver of innovation and expansion. Read More..

B2B Tech News | 1 months ago        



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1.  Global online sales are predicted to reach 22% of all retail sales in 2023.
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2.  Global tablet shipments are expected to hit 142 million by 2025, reports Statista.
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