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Nvidia Surges to Become Worlds Second Most Valuable Company

With a market valuation of more than $3 trillion, Nvidia surpassed Apple to become the second most valuable business in the world on Wednesday as it s

With a market valuation of more than $3 trillion, Nvidia surpassed Apple to become the second most valuable business in the world on Wednesday as it surged to alltime highs. The spike in Nvidias stock is a prelude to its June 7 stock split, which might draw more individual investors. Nvidia has had impressive growth because of its emphasis on AI technologies, especially now that demand for its chips exceeds supply. Some investors perceive Apple needing to catch up in AI innovation due to its struggles in the smartphone industry. Despite its spectacular rise, Nvidias pricetoearnings ratio is still lower than a year ago. Read More..

B2B Tech News | 12 days ago        

Zoox, Amazons Robotaxi Unit, Expands Autonomous Vehicle Testing to Austin and Miami

The robotaxi division of Amazon.com, Zoox, has revealed intentions to take its autonomous car testing outside of the western United States to Austin,

The robotaxi division of Amazon.com, Zoox, has revealed intentions to take its autonomous car testing outside of the western United States to Austin, Texas, and Miami. The organisation intends to station modified Toyota Highlanders equipped with human safety drivers in constrained regions close to the commercial and leisure centres of the two cities. Although Zoox has been conducting selfdesigned autonomous vehicle tests in California and Nevada, the companys expansion comes after the NHTSA looked at 500 Zoox cars following two incidents. Zoox is considering launching commercial rides in other locations after launching in Las Vegas and San Francisco, even if public rides are unavailable. Meanwhile, the NHTSA is also looking at other selfdriving robotaxi startups, such as Waymo and Cruise from Alphabet and General Motors. Read More..

B2B Tech News | 12 days ago        

KoreaAfrica Summit Paves the Way for Enhanced Cooperation

Representatives from 48 African countries gather for the first KoreaAfrica summit to strengthen trade, investment, and technological collaboration. To

Representatives from 48 African countries gather for the first KoreaAfrica summit to strengthen trade, investment, and technological collaboration. To improve supply chain resilience, South Korea strongly emphasises collaborations involving minerals and resources, especially in vital industries like battery manufacturing. To support South Korean commerce and investment in Africa, commitments have been made to increase official development assistance to $10 billion by 2030 and to provide $14 billion in export finance. Even though South Koreas imports and exports from Africa account for less than 2 per cent of its total, its outreach indicates a strategic involvement that corresponds with North Koreas diplomatic manoeuvres. Read More..

B2B Tech News | 12 days ago        

Currency Declines Continue South Africas Rand and Mexicos Peso React to Election Surprises

The recent turmoil in the financial markets of Mexico, India, and South Africa highlights how political developments in significant developing economi

The recent turmoil in the financial markets of Mexico, India, and South Africa highlights how political developments in significant developing economies continue to have an impact. In the aftermath of unexpected election results, the peso and rand in Mexico continued their downward trend. At the same time, signals that Prime Minister Modi might not win a majority sent shockwaves through Indias equities markets. The way the markets respond to political risk events serves as a reminder of their importance and emphasises the necessity of carefully weighing all possible outcomes. About the future, the U.S. presidential election appears to be an essential event to keep an eye on because of its possible effects on world markets and economies, especially in light of populist emotions and debt concerns. Read More..

B2B Tech News | 12 days ago        

Australias Economy Stagnates Q1 GDP Growth at 0.1%, Lowest in Three Decades

With real GDP growing by just 0.1% in the March quarter—below market expectations—Australias economy stalled. The lowest annual growth rate in thr

With real GDP growing by just 0.1% in the March quarter—below market expectations—Australias economy stalled. The lowest annual growth rate in three decades occurred at 1.1% before the pandemic. The amount spent by households increased slightly by 1.3%, mainly on necessities, while discretionary expenditure stayed the same. The savings rate fell to an alltime low of 0.9%, indicating severe household financial hardship. Financial markets have discounted more interest rate increases by the Reserve Bank of Australia, notwithstanding the lacklustre economic performance. Concerns about inflation persist as consumer prices increased by 3.6% in April. However, the per capita GDP fell, indicating that migrationdriven fast population expansion has pressured the housing market and raised rents to alltime highs. Read More..

B2B Tech News | 12 days ago        

Tesla to Spend $34 Billion on Nvidia Hardware Elon Musk Reveals AI Investment Plans

Elon Musk stated on X that Tesla anticipates spending $3 billion to $4 billion this year on Nvidia hardware acquisitions. He also revealed that almost

Elon Musk stated on X that Tesla anticipates spending $3 billion to $4 billion this year on Nvidia hardware acquisitions. He also revealed that almost half of the $10 billion set up for capital expenditures relating to artificial intelligence will be spent internally. Musk underlined that Nvidias hardware, which accounts for over twothirds of the cost, is essential to constructing AI training superclusters. The statement and rumours that Tesla asked Nvidia to prioritise shipments of AI chips for its X and xAI divisions coincide, demonstrating the strategic significance of AI technology for the manufacturer of electric vehicles. These events coincide with the companys reaffirmed capital expenditure estimate of more than $10 billion for the year and come ahead of a crucial shareholder vote on Musks compensation plan at Tesla. Read More..

B2B Tech News | 12 days ago        

Databricks Acquires Tabular Boosting Cloud Data Optimization Capabilities

Amidst competition from Snowflake and other startups, Databricks announced that it had acquired Tabular. This firm specialises in optimising data stor

Amidst competition from Snowflake and other startups, Databricks announced that it had acquired Tabular. This firm specialises in optimising data stored in the cloud. The move is intended to improve product development. The over $1 billion purchase highlights Databricks ambitious growth plan, supported by significant venture capital financing. The cofounders of Tabular gained experience with Apache Iceberg while working at Netflix. This knowledge enhances Databricks opensource project, Delta Lake. It puts Tabular in a position to benefit from changing consumer demands for data storage. The purchase shows Databricks dedication to innovation and interoperability in data analytics as it grows its market share. Read More..

B2B Tech News | 12 days ago        

Apollo Global Acquires 49% Stake in Intel’s $11 Billion Irish Facility

In Leixlip, Ireland, Apollo Global Management will purchase a 49% ownership stake in Intels planned $11 billion manufacturing facility. The agreement,

In Leixlip, Ireland, Apollo Global Management will purchase a 49% ownership stake in Intels planned $11 billion manufacturing facility. The agreement, anticipated to finalise in Q2, enables Intel to reallocate its investment. With an initial investment of $18.4 billion, Intel is building the plant, which will be the first to use its cuttingedge EUV lithography technology. While Intel maintains ownership and management, the joint venture allows chip fabrication to occur at the location. This action is consistent with Intels plan to use funds and subsidies from the European Commission. According to CFO David Zinsner, the transactions favourable conditions give Intel financial flexibility as it manages the sluggish demand for conventional processors in the face of a rising market for AI components. Read More..

B2B Tech News | 12 days 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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4.  Since the launch of the popular mobile game, Candy Crush, in 2012, players have spent a total of 73 billion hours (equivalent to 8.3 million years) playing this game.
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5.  Approximately 8 billion gadgets connect on the internet every day.
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