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Intel Misses Out on Sony PlayStation 6 Chip Contract as AMD Secures Major Deal

According to sources, a crucial contract to develop and manufacture Sonys PlayStation 6 microprocessor was lost by Intel, which hurt its rapidly expan

According to sources, a crucial contract to develop and manufacture Sonys PlayStation 6 microprocessor was lost by Intel, which hurt its rapidly expanding contract manufacturing division. In the competitive bidding procedure, Advanced Micro Devices defeated Intel to win the contract valued at billions. A significant part of CEO Pat Gelsingers recovery strategy, the possible acquisition involving mass manufacture of silicon wafers over five years, might have significantly enhanced Intels foundry division. Due to pricing disagreements, Intel withdrew, missing the chance to resurrect its foundry division with a major customer such as Sony. As it struggles with significant operating losses, Intel still seeks tremendous clients to back its advanced 18A process. Read More..

B2B Tech News | 3 months ago        

Vista Equity Partners and Blackstone Eye $8 Billion Acquisition of Smartsheet

It was disclosed on Monday that the collaborative software provider Smartsheet is being pursued by buyout heavyweights Vista Equity Partners and Black

It was disclosed on Monday that the collaborative software provider Smartsheet is being pursued by buyout heavyweights Vista Equity Partners and Blackstone for a possible $8 billion purchase. Every share would fetch around $56 under the planned deal. Barring unforeseen circumstances, the agreement is anticipated to close in the upcoming weeks and might rank among the biggest takeprivate deals of the year. Shares of Smartsheet have increased by more than 16% since word of the takeover discussions broke. With conditions that might alter, direct lenders finance private equity firms. Beyond market forecasts with a notable increase in new enterprise orders, Smartsheet—which serves big customers like Pfizer and Cisco—recently reported impressive profitability. Read More..

B2B Tech News | 3 months ago        

U.S. Startup Ursa Major Lands $12.5 Million Contract to Boost Solid Rocket Motor Capabilities

A $12.5 million contract to increase the manufacture and testing of solidfuel rocket engines has been awarded to American rocket propulsion company Ur

A $12.5 million contract to increase the manufacture and testing of solidfuel rocket engines has been awarded to American rocket propulsion company Ursa Major. The Pentagons larger plan to strengthen the defence industrial base in the face of depleting supplies from aiding Israel and Ukraine includes this grant. Ursa Major matches the $12.5 million investment, bringing the total to $25 million, partially funded by the Navy and the Pentagons Office of Strategic Capital. With this financing, Ursa Major will be able to build and test a new solid rocket motor prototype and assist its Advanced Manufacturing Pathfinder initiative. To expedite defence technology investments, this contract represents one of the Office of Strategic Capitals initial payouts. Read More..

B2B Tech News | 3 months ago        

Microsoft Announces $60 Billion Share Buyback Program and 10% Dividend Increase Amid AI Investment Surge

Microsofts board of directors has approved the $60 billion share repurchase program, in addition to the 10% quarterly dividend hike to $0.83 per share

Microsofts board of directors has approved the $60 billion share repurchase program, in addition to the 10% quarterly dividend hike to $0.83 per share. On December 10, the internet behemoth will have its annual shareholders meeting. This action coincides with a reported 77.6% increase in capital expenditures on AI infrastructure for the quarter that ended on June 30. Microsofts Azure cloud business grew more slowly than expected, but it expects to pick up speed in the second half of fiscal 2025. As is common in the IT sector, the corporation must prove to investors that its investments in AI are yielding returns. In aftermarket trade, Microsofts shares increased somewhat, bringing their yearly gain to 15%. Read More..

B2B Tech News | 3 months ago        

Alcoa to Sell 25.1% Stake in Maaden for $1.1 Billion to Saudi Mining Company

Alcoa declared it would pay Saudi Arabian mining firm Maaden $1.1 billion to sell a 25.1% share in its Maaden joint venture. About 86 million Maaden s

Alcoa declared it would pay Saudi Arabian mining firm Maaden $1.1 billion to sell a 25.1% share in its Maaden joint venture. About 86 million Maaden shares and $150 million in cash are included in the acquisition, which is anticipated to close in the first half of 2025. William Oplinger, CEO of Alcoa, said the transaction will improve financial flexibility, streamline the companys holdings, and make its Saudi interests more transparent. Alcoa intends to hold Maadens shares for at least three years and will keep about 2% after the transaction. As Saudi Arabias mining industry grows, Maaden, which already controls 74.9% of the joint venture, looks forward to more cooperation. Read More..

B2B Tech News | 3 months ago        

Argentinas 2025 Draft Budget Projects 5% Economic Growth and 1.3% Primary Fiscal Surplus

According to Argentinas draft budget for 2025, the countrys GDP would expand by 5%, with a primary fiscal surplus of 1.3%. The plan predicts that at t

According to Argentinas draft budget for 2025, the countrys GDP would expand by 5%, with a primary fiscal surplus of 1.3%. The plan predicts that at the end of the year, the exchange rate will be 1,207 pesos for every dollar, with an inflation rate of 18.3%. The governments attempts to manage budgetary obligations and stabilise the economy in the face of persistent economic difficulties are reflected in the budget. The forecasts are meant to promote economic growth and stability, emphasising keeping the budget balance positive and reining in inflation. These projections might alter in the upcoming months in response to changes in the economy and changes in policy. Read More..

B2B Tech News | 3 months ago        

Unicredit CEO Andrea Orcel Advocates for Merger with Commerzbank to Strengthen German Banking Sector

Strong support for a possible merger between Unicredit and Commerzbank has been voiced by Andrea Orcel, CEO of Unicredit, who believes it may signific

Strong support for a possible merger between Unicredit and Commerzbank has been voiced by Andrea Orcel, CEO of Unicredit, who believes it may significantly improve the competitive environment in the German banking industry. Retail customers and German Mittelstand businesses might gain from a stronger rival created by such a combination, according to Orcel. Although Unicredit now owns 9% of Commerzbank, he stressed that Commerzbanks stockholders ultimately choose to combine. Unicredit is willing to have more conversations, according to Orcel, but there is no deadline for doing so. Local management at Commerzbank has expressed opposition to Unicredits recent action, indicating that the idea has caused a stir. Read More..

B2B Tech News | 3 months ago        

Tiger Global to Join MultiBillionDollar Funding Round for OpenAI, Valuation Could Hit $150 Billion

The multibilliondollar OpenAI fundraising round is expected to include venture capital company Tiger Global Management, which may value the ChatGPT cr

The multibilliondollar OpenAI fundraising round is expected to include venture capital company Tiger Global Management, which may value the ChatGPT creator at $150 billion. Thrive Capital is expected to lead the round with a $1 billion investment, helmed by Josh Kushner. OpenAI has to raise $6.5 billion, including $5 billion in debt, so this investment round is essential. Previous supporter Tiger, valued at $14.5 billion in 2019, contributed $50 million at the time of investment. Other notable investors were Microsoft, Nvidia, Apple, and G42 of Abu Dhabi. With an emphasis on sophisticated problemsolving skills, the financing will help OpenAI grow and introduce its new "Strawberry" AI models. Read More..

B2B Tech News | 3 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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3.  Artificial Intelligence is expected to contribute $15.7 trillion to the economy by the year 2030.
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5.  Approximately 8 billion gadgets connect on the internet every day.
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