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Occidental Petroleum Considers Selling Western Midstream Partners to Reduce Debt

Western Midstream Partners, an American operator of natural gas pipelines, is estimated to be worth close to $20 billion, including debt, and is being

Western Midstream Partners, an American operator of natural gas pipelines, is estimated to be worth close to $20 billion, including debt, and is being considered for sale by Occidental Petroleum. Supported by Warren Buffetts Berkshire Hathaway, Occidental is looking at this disposal to lower the $18.5 billion in debt it has accrued via purchases like the recent $12 billion purchase of CrownRock. Following the announcement, shares of Western Midstream increased 5.7%, finishing at the highest level since July 2019. JPMorgan Chase advises Occidental, which owns 49% of Western Midstream and manages its operations, on how to maximise the value of its stake. Major competitors such as Enterprise Products Partners, Williams Companies, Kinder Morgan, infrastructure funds, and private equity groups are possible purchasers of Western Midstream. Read More..

B2B Tech News | 2 months ago      

Indonesia Introduces New Incentives to Boost Electric Vehicle Sales and Industry Growth

To hasten the adoption of environment friendly automobiles and draw capital to its developing domestic EV sector, Indonesia has introduced new incenti

To hasten the adoption of environment friendly automobiles and draw capital to its developing domestic EV sector, Indonesia has introduced new incentives to boost the sales of domestically and imported EVs. Among these incentives are eliminating the luxury tax on electric vehicles EVs for the 2024 fiscal year and the import tax exemption through the end of 2025. In addition, existing tax relief for electric vehicle purchasers will be prolonged by lowering the valueadded tax from 11% to 1% for the current year, which ends at the end of 2023. By taking these steps, the government intends to encourage domestic automakers to invest in the nation and increase demand for EVs. By 2030, Indonesia hopes to generate 600,000 EVs internally by using its substantial nickel deposits, an essential material for EV batteries, to become a leading EV production hub. Read More..

B2B Tech News | 2 months ago      

Nvidia Surpasses Tesla as Wall Streets Most Traded Stock, Reflecting AI Investment Trend

With its recent climb, Nvidia has displaced Tesla as the most traded stock by value on Wall Street, demonstrating the increasing popularity of AIrelat

With its recent climb, Nvidia has displaced Tesla as the most traded stock by value on Wall Street, demonstrating the increasing popularity of AIrelated investments among investors. Meanwhile, the chipmakers dominance in daily trading also makes us worry about our susceptibility if sales growth falls short of our optimistic projections. Several experts have suggested that anything less than spectacular results in Nvidias impending quarterly report might undo the recent upswing. The recent decline in the stock, which has Nvidias average daily trading volume of $30 billion compared to Teslas $22 billion, indicates investor anxiety ahead of the report. This change in the mechanics of trading highlights the importance of AIrelated equities in the current market, with Nvidia leading the way. But questions remain about whether momentum rather than fundamentals drives the trading frenzy. Read More..

B2B Tech News | 2 months ago      

Microsoft Developing New Network Card to Boost Performance of Maia AI Server Chip

According to reports, Microsoft is developing a new network card to improve the Maia AI server chips performance and lessen its dependency on Nvidia.

According to reports, Microsoft is developing a new network card to improve the Maia AI server chips performance and lessen its dependency on Nvidia. The project, headed by Pradeep Sindhu, a cofounder of Juniper Networks currently working with Microsoft after the company acquired Fungible, wants to create a card that will be offered alongside GPUs similar to Nvidias ConnectX7. If the new card is effective, it might lower expenses and speed up OpenAIs model training on Microsoft servers. Microsofts investment in OpenAI highlights the companys dedication to artificial intelligence. The Maia processor, which supports massive language models and AI processing, gives Microsoft a competitive edge in the sales of AI software. Read More..

B2B Tech News | 2 months ago      

Password Management Leader 1Password Acquires Kolide for Enhanced Device Security

The acquisition of Kolide, an endpoint security platform, by 1Password, a wellknown producer of password management software, is intended to improve d

The acquisition of Kolide, an endpoint security platform, by 1Password, a wellknown producer of password management software, is intended to improve device security for remote and hybrid work settings. Because employees use a combination of personal and workissued devices in modern workplaces, Kolides experience in realtime device health monitoring and access control aligns with the changing demands of these environments. 1Password hopes to provide allinclusive security solutions using Kolides platform, guaranteeing safe access to business apps and data on all devices. The purchase strengthens 1Passwords position in the cybersecurity industry and highlights the companys dedication to providing cuttingedge security solutions. Read More..

B2B Tech News | 2 months ago      

Uttar Pradesh Emerges as Key Player in Indias AI Landscape, Plans AI City Near Lucknow

Uttar Pradesh is trying to make a name for itself in the AI space in India by using cuttingedge technology to stimulate creativity and economic growth

Uttar Pradesh is trying to make a name for itself in the AI space in India by using cuttingedge technology to stimulate creativity and economic growth. Uttar Pradesh aims to combine cuttingedge technology, research facilities, and academic institutions to create a vibrant environment for businesses focusing on Artificial Intelligence AI, with plans to build an AI City close to the Lucknow airport. The state administration hopes to establish Lucknow as Indias next IT hub by attracting talent and investment worldwide. Uttar Pradesh wants to help create cuttingedge infrastructure and encourage research and innovation in cuttingedge technologies like Artificial Intelligence AI by offering strategic assistance and incentives to developers. This would set the stage for India to lead in AI innovation and technology. Read More..

B2B Tech News | 2 months ago      

Adobe Beta Launches AI Assistant in Acrobat, Soon to Expand to Reader

With its Reader and Acrobat apps, Adobe has included an Artificial Intelligence AI assistant to summarise and respond to inquiries regarding PDFs and

With its Reader and Acrobat apps, Adobe has included an Artificial Intelligence AI assistant to summarise and respond to inquiries regarding PDFs and other documents. The utility is now in beta on Acrobat and will shortly be available on Reader. By offering succinct summaries and responding to inquiries using a conversational interface, it seeks to assist users in understanding large materials. Additionally, the assistant may produce material in various styles and citations. In contrast to other AI models that need PDF uploads, Adobes assistant is integrated into the programmes. According to Adobe CEO Shantanu Narayen, this democratises access to PDFs and highlights how beneficial the technology is for quickly exploring large documents. Additionally, Narayen refers to Adobes creation of video models in reaction to OpenAIs advancements. Read More..

B2B Tech News | 2 months ago      

Neuralinks BrainChip Patient Achieves Full Recovery, Demonstrates MindControlled Mouse Movement

Elon Musk said late Monday that the first person to get a Neuralink brain chip has fully recovered and can use their thoughts to operate a computer mo

Elon Musk said late Monday that the first person to get a Neuralink brain chip has fully recovered and can use their thoughts to operate a computer mouse. Musk said at a social media event that the patient is improving as they can now move the mouse across the screen with just their thoughts. Neuralink seeks to optimise the patients mouse button clicks. The business, which received clearance for human trials last month and successfully implanted the device, hopes to use it for more extensive purposes, such as treating depression and obesity. However, Neuralink has been under fire for safety violations that have resulted in fines and penalties. Read More..

B2B Tech News | 2 months ago