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Market Selloff Hits AI Companies After Disappointing Quarterly Results

When Microsoft, Alphabet, and Advanced Micro Devices released their quarterly results below investor expectations, the stock values of several AIrelat

When Microsoft, Alphabet, and Advanced Micro Devices released their quarterly results below investor expectations, the stock values of several AIrelated firms saw a sharp decrease. The selloff emphasises the elevated anticipations stoked by the latest AIdriven surge in the stock market. Alphabets 5.6% decline was ascribed to higher data centre expenses to support its artificial intelligence initiatives and lowerthanexpected ad income for the December quarter. While Advanced Micro Devices stock sank 6% after missing projections for its Q1 sales, Microsofts stock declined 0.7% despite exceeding analyst estimates. Extended trade also showed a drop in Nvidias shares, which had risen on confidence about AI. Read More..

B2B Tech News | 1 years ago        

Italy Launches Enrico Mattei Plan with €5.5 Billion Investment in Africa

Giorgia Meloni, the prime minister of Italy, introduced the Enrico Mattei plan, an African development project designed to tackle migratory concerns,

Giorgia Meloni, the prime minister of Italy, introduced the Enrico Mattei plan, an African development project designed to tackle migratory concerns, at the opening of the ItalyAfrica summit. Italy intends to provide an initial €5.5 billion $5.95 billion for the initiative, with agriculture, energy, healthcare, and education projects to be carried out in partnership with African countries. With the EUs prohibition on Russian energy supply, the Mattei plan seeks to establish Italy as a significant European energy centre. The project addresses the underlying reasons for migration and emphasises how continents are interrelated, promoting an equitable partnership with Africa. Read More..

B2B Tech News | 1 years ago        

Teradyne Relocates $1 Billion Manufacturing Out of China Over U.S. Export Rules

Teradyne, a provider of semiconductor testing equipment, has shifted production worth around $1 billion out of China due to export laws from the Unite

Teradyne, a provider of semiconductor testing equipment, has shifted production worth around $1 billion out of China due to export laws from the United States. In response to U.S. regulations implemented in October 2022 that limited exports to semiconductor manufacturing facilities in China, the business moved production from a plant in Suzhou, which served as its primary manufacturing location for semiconductor test equipment. Teradyne experienced problems with its supply chain since some of its approved vendors would not ship to the firm. The action is part of a more significant push by American businesses to depend less on China in the face of regulatory constraints and geopolitical unrest. Read More..

B2B Tech News | 1 years ago        

Amazon and iRobot Scrap $1.4 Billion Merger Plans Amid Regulatory Opposition

Because US and EU antitrust authorities are against the proposed $1.4 billion merger, Amazon and iRobot have decided to scrap their plans. iRobot reve

Because US and EU antitrust authorities are against the proposed $1.4 billion merger, Amazon and iRobot have decided to scrap their plans. iRobot revealed a significant reorganisation plan that included Colin Angle, the companys creator, resigning as CEO and eliminating 350 positions, or around 31% of the staff. According to Amazon, there was no way for the proposed purchase to receive regulatory approval in the EU. The head of EU antitrust cited worries that the purchase would give Amazon the power to limit access to Amazon stores, forcing out iRobots competitors. Before the corporations announced their withdrawal, it was purported that the Federal Trade Commission FTC was prepared to reject the agreement. Read More..

B2B Tech News | 1 years ago        

Japanese Ministry of Industry Invests in Chip Development with $307 Million Subsidies

Japans industry ministry plans to donate around 45.2 billion yen $307 million in subsidies to encourage the advancement of optical technologies for ch

Japans industry ministry plans to donate around 45.2 billion yen $307 million in subsidies to encourage the advancement of optical technologies for chips to strengthen the nations semiconductor sector. The following businesses are involved in the initiative SK Hynix, NEC, Kioxia, Furukawa Electric, Shinko Electric, and Intel. The semiconductor industry wants to use optical technologies to lower power consumption and increase signal transmission speed. Amidst growing competition in sophisticated technologies, especially from China, Japan seeks to fortify its position in the chip industry and forge alliances with allies. Read More..

B2B Tech News | 1 years ago        

China Cinda, China Orient, and China Great Wall Asset Management to Merge into CIC

According to reports, China intends to combine China Cinda Asset Management, China Orient Asset Management, and China Great Wall Asset Management—th

According to reports, China intends to combine China Cinda Asset Management, China Orient Asset Management, and China Great Wall Asset Management—three of the nations leading bad debt managers—into China Investment Corp CIC, a sovereign wealth fund. The Chinese government is committed to keeping its functions as a shareholder and regulatory of stateowned financial institutions distinct, as evidenced by this action. Combining these Asset Management Corps AMCs into CIC aligns with more significant initiatives to address risks in the nations financial industry and reform financial institutions, especially concerning issues like the real estate crisis and local government debt. Read More..

B2B Tech News | 1 years ago        

Holcim Plans $30 Billion Spinoff of North American Operations

One of the biggest cement manufacturers in the world, Holcim, has stated that it intends to float all its North American operations in New York. The c

One of the biggest cement manufacturers in the world, Holcim, has stated that it intends to float all its North American operations in New York. The company may be worth roughly $30 billion after the change. The divestiture is anticipated to be finished in the first half of 2025. On May 1, Jan Jenisch, the CEO, will retire, and Miljan Gutovic will take over. By 2030, the spinoff hopes to increase yearly sales in the United States from around $11 billion to over $20 billion and turn a profit from operations of more than $5 billion. The Swiss SMI index will continue to list the remainder of Holcims international operations. Read More..

B2B Tech News | 1 years ago        

U.S. Plans Subsidies for Intel, TSMC, and Others in Semiconductor Boost

The Biden administration anticipates announcing billiondollar subsidies for semiconductor businesses, such as Intel and Taiwan Semiconductor Manufactu

The Biden administration anticipates announcing billiondollar subsidies for semiconductor businesses, such as Intel and Taiwan Semiconductor Manufacturing Co TSMC, to encourage the development of new chip manufacturers in the United States. The subsidies aim to increase the production of cuttingedge semiconductors essential for defence systems, cell phones, and artificial intelligence. Executives from the industry who are aware of the discussions expect announcements before President Bidens March 7 State of the Union speech. Intel, TSMC, Samsung Electronics, Micron Technology, Texas Instruments, and GlobalFoundries are among the possible beneficiaries. The subsidies are intended to support U.S. chip manufacturing as part of the "Chips for America" initiative. Read More..

B2B Tech News | 1 years ago        



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1.  Global online sales are predicted to reach 22% of all retail sales in 2023.
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