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GLOBAL NEWS

Atos Secures €1.82 Billion Funding in Major Debt Restructuring Move

With the completion of a significant financial restructuring phase, the French IT company Atos ATOS.PA has secured cash totaling 1.675 billion euros $

With the completion of a significant financial restructuring phase, the French IT company Atos ATOS.PA has secured cash totaling 1.675 billion euros $1.82 billion through a lockup agreement with a group of banks and bondholders that account for more than half of its creditors. With the other creditors urged to join the deal by July 22, this step intends to restructure its debt. Additionally, Atos obtained 800 million euros in interim funding, of which 450 million euros are now available, guaranteeing liquidity through the end of the restructuring process in late 2024 or early 2025. Atos informed stakeholders that the companys governance structure will remain independent despite these financial manoeuvres, announcing plans for new governance after the reorganisation. Read More..

B2B Tech News | 5 days ago      

VinFast Postpones North Carolina Factory Opening to 2028, Reduces 2024 Vehicle Delivery Target

The $4 billion North Carolina facility of VinFast, a Vietnamese electric vehicle EV company led by Pham Nhat Vuong, the countrys richest man, will not

The $4 billion North Carolina facility of VinFast, a Vietnamese electric vehicle EV company led by Pham Nhat Vuong, the countrys richest man, will not open until 2028. In light of economic difficulties and uncertainty in the worldwide EV industry, the delivery prediction for 2024 has been lowered, with 80,000 instead of 100,000 vehicles expected. VinFast is confronted with obstacles due to dynamic macroeconomic conditions and competitive pressures in the electric car industry, even with a 92% yearoveryear surge in firsthalf sales to 21,747 units. Despite these changes, the firm is still committed to growing its product portfolio and breaking into new Asian markets. Read More..

B2B Tech News | 5 days ago      

Alphabet Nears $23 Billion Deal to Acquire Cybersecurity Firm Wiz

For almost $23 billion, Alphabet GOOGL.O is in advanced talks to buy cybersecurity company Wiz, making this its biggest purchase to date. With its cur

For almost $23 billion, Alphabet GOOGL.O is in advanced talks to buy cybersecurity company Wiz, making this its biggest purchase to date. With its current headquarters in New York, Wiz was first established in Israel and focuses on providing cloudbased cybersecurity solutions with AIdriven threat detection and response capabilities. The mostly cashfinanced purchase may soon be completed, according to people with knowledge of the situation. The Biden administrations increased regulatory scrutiny of the concentration of the tech industry coincides with this possible purchase. With 900 workers worldwide and projected revenues of over $350 million in 2023, Wiz is a big corporation that services Fortune 100 organisations. It was recently valued at $12 billion following a $1 billion fundraising round. Read More..

B2B Tech News | 5 days ago      

TSMC Set to Report 30% Surge in Q2 Profit, Driven by AI Chip Demand

As the worlds largest contract chipmaker, Taiwan Semiconductor Manufacturing Co. TSMC is about to report secondquarter profit up 30% to around T$236.1

As the worlds largest contract chipmaker, Taiwan Semiconductor Manufacturing Co. TSMC is about to report secondquarter profit up 30% to around T$236.1 billion $7.25 billion. A strong market for sophisticated processors, particularly those employed in artificial intelligence applications, is whats behind this increase. With over a trillion dollars in market value for its American Depositary Receipts, TSMCs impressive achievement is indicative of a larger trend towards AI technology. Amidst competition from Intel and Samsung, the companys continuous attempts to expand, including large investments in new facilities such as those in Arizona, demonstrate its dedication to satisfying the need for semiconductors worldwide. The capital expenditure and prognosis for the rest of the year will also be revealed on TSMCs next earnings call. Read More..

B2B Tech News | 5 days ago      

Greta Minerals Expands Presence with Strategic Lithium and REE Asset Acquisition in Western Australia

Significant lithium and rare earth element REE exploration properties in Western Australia have been successfully acquired by Greta Minerals PTE Ltd,

Significant lithium and rare earth element REE exploration properties in Western Australia have been successfully acquired by Greta Minerals PTE Ltd, a division of the Greta Group, headquartered in Singapore. With this acquisition, Greta Groups operating footprint and portfolio are increased to include over 700 km2 of strategically positioned exploration tenements on the extremely promising Ida Fault. The companys skills are further enhanced by its strategic cooperation with Mr. Tan, who is wellknown from Aussie Gold Hunters. Situated in Western Australias wellknown "Lithium Corridor," these resources are wellpositioned to investigate possible extensive mineral resources by taking use of the geological benefits of the hydrothermal fluid channels on the Ida Fault. With an emphasis on sustainability and innovation in the exploitation of natural resources, Greta Minerals seeks to advance exploration in a responsible manner. Read More..

B2B Tech News | 5 days ago      

ESDS to Revolutionize Cloud Infrastructure with AIPowered Platform

The goal of ESDS Software Solution Limiteds announcement is to transform cloud infrastructure management through the creation of an AIpowered autonomo

The goal of ESDS Software Solution Limiteds announcement is to transform cloud infrastructure management through the creation of an AIpowered autonomous cloud platform. The platform will use artificial intelligence AI and machine learning to automate cloud environment setup, administration, and transformation on several platforms. To support this goal, ESDS intends to employ 300 AI and machine learning engineers in the next six months. The companys objectives are to increase the size of its staff and establish a stronger foothold in the Middle East, India, and the UK, with a particular emphasis on improving cloud services and developing technological skills related to application management and automation. Read More..

B2B Tech News | 5 days ago      

LTIMindtree Launches Canvas.ai on Snowflake AI Data Cloud for Enhanced AI Capabilities

Canvas.ai, an advanced AI platform from LTIMindtree, has been made available on the Snowflake AI Data Cloud. By merging the scalability and customisat

Canvas.ai, an advanced AI platform from LTIMindtree, has been made available on the Snowflake AI Data Cloud. By merging the scalability and customisation of Canvas.ai with the reliable infrastructure of Snowflake, this combination improves AI capabilities. Businesses may use capabilities like proactive governance, enterprisegrade models like Snowflake Arctic LLMs, and FinOps tools for effective model maintenance to use Canvas.ai to expedite the creation of AI applications. With prebuilt navigation apps, the platform facilitates the easy integration and deployment of LLMbased solutions, hence simplifying the implementation of AI. Through the use of Snowflakes Cortex AI capabilities, this partnership seeks to improve governance and security while expediting the AI journey for enterprises. Read More..

B2B Tech News | 5 days ago      

WhatsApp Unveils OnDevice Live Message Translation Feature for Android Users

Two new features that WhatsApp is working on for Android users are live voice message transcription and ondevice live message translation. By processi

Two new features that WhatsApp is working on for Android users are live voice message transcription and ondevice live message translation. By processing data locally, the translation feature—which is now available for Hindi and English with plans to add other languages—ensures privacy. It may incorporate straight into conversations, decreasing the need for outside apps. Currently in beta testing, the transcription capability provides realtime text beneath voice communications with the goal of improving accessibility. WhatsApps emphasis on enhancing user experience through simplified multilingual communication and accessibility features is reflected in these improvements. Read More..

B2B Tech News | 5 days ago