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Nigeria Seeks $2.25 Billion Loans from World Bank to Address Economic Challenges

Following the IMF/World Bank spring meetings, Nigerias Finance Minister, Wale Edun, declared that the country is seeking loans from the World Bank tot

Following the IMF/World Bank spring meetings, Nigerias Finance Minister, Wale Edun, declared that the country is seeking loans from the World Bank totalling up to $2.25 billion. The loans total $750 million for programforresults funding and $1.5 billion for development policy financing. The government also intends to sell bonds for the diaspora to raise foreign cash. The request will be approved during the June meeting of the World Bank board. Even with recent moves to cut back on government borrowing from the central bank, Nigeria continues to have difficulties with high levels of debt, unemployment, and shortages of foreign money, all of which are reflected in the devaluation of the Naira versus the US dollar. Read More..

B2B Tech News | 2 months ago          

TI Projects Q2 Revenue Above Estimates, Reflecting Improved Demand for Analog Chips

Texas Instruments TI reported secondquarter revenue that was higher than expected, indicating that the companys analogue semiconductors are in higher

Texas Instruments TI reported secondquarter revenue that was higher than expected, indicating that the companys analogue semiconductors are in higher demand as sales of consumer devices continue to rise. This optimistic view suggests that inventory adjustments for analogue chips may become less frequent. Digitaltophysical communication and device powering are made possible by TIs processors. Sales decreases may still occur in the analogue industry, but prospects for more normal seasonal demand in the following quarters are promising. TIs outlook is positive, with a midpoint sales prediction of $3.8 billion for Q2, above analyst forecasts of $3.77 billion. Analysts see this estimate favourably, speculating that industries such as automotive may be rebounding and that downturns in some segments, including the automobile sector, may not be as bad as expected. Read More..

B2B Tech News | 2 months ago          

IBM Nears Acquisition of Cloud Provider HashiCorp, Stock Surges by 24%

HashiCorp is a provider of cloud software, and a person with knowledge of the situation said that IBM is nearing the acquisition. After the Wall Stree

HashiCorp is a provider of cloud software, and a person with knowledge of the situation said that IBM is nearing the acquisition. After the Wall Street Journals first article, the news led HashiCorps shares to jump by 24%, hitting a market value of $6.1 billion. To increase the scope of its cloud solutions, IBM has prioritised acquisitions under CEO Arvind Krishna. This is particularly relevant in light of the growing need for generative artificial intelligence, which gains from cloud softwares capacity to handle massive amounts of data. Californiabased HashiCorp, which helps clients set up and maintain their cloud infrastructures, had a 22.5% increase in sales to $583.1 million for the year that ended on January 31. Even if a deal may be sealed shortly, the negotiations might not result in a sale. Read More..

B2B Tech News | 2 months ago          

Googles €600 Million Investment in Groningen Data Center Set to Boost Job Opportunities

Google, which Alphabet owns, said on Tuesday that it will be investing 600 million euros, or $640.62 million, in a new data centre in Groningen, Nethe

Google, which Alphabet owns, said on Tuesday that it will be investing 600 million euros, or $640.62 million, in a new data centre in Groningen, Netherlands. It is anticipated that this investment will lead to the creation of 125 new jobs. Google has invested more than €3.8 billion in data centres and related digital infrastructure in the Netherlands in the past eight years. The firm underscored its dedication to putting sustainability first and encouraging a positive influence on the neighbourhood during the new data centres development and operation. Read More..

B2B Tech News | 2 months ago          

CocaCola Inks $1.1 Billion Deal with Microsoft for Cloud Computing and AI Services

Microsoft said on Tuesday that CocaCola has agreed to use its cloud computing and artificial intelligence services under a fiveyear, $1.1 billion cont

Microsoft said on Tuesday that CocaCola has agreed to use its cloud computing and artificial intelligence services under a fiveyear, $1.1 billion contract. As part of the deal, users can construct chatbots and other AI services on Microsofts Azure cloud platform using technology from OpenAI, a Microsoftbacked firm that created ChatGPT. This will involve cooperative experimentation with Azure OpenAI. In 2020, CocaCola signed a $250 million, fiveyear contract to use Microsofts corporate and cloud services. Under the terms of the new deal, CocaCola will investigate Microsofts Copilot products to boost efficiency, including AI tools for generating business presentations and summarising email exchanges. CocaCola will also compete with Salesforce by increasing the use of Microsoft software for sales professionals, such as Dynamics 365. Microsoft did not disclose financial information about the distribution of the $1.1 billion. Read More..

B2B Tech News | 2 months ago          

Luminar Technologies Unveils Halo Lidar Sensor, Partners with Applied Intuition for Automated Driving Testing

On Tuesday, Luminar Technologies announced the release of Halo, their newest lidar sensor, and a collaboration with car software provider Applied Intu

On Tuesday, Luminar Technologies announced the release of Halo, their newest lidar sensor, and a collaboration with car software provider Applied Intuition to help automakers test their assisteddriving systems. Through the partnership, Luminars lidar sensor models and Applied Intuitions sensor simulator will be integrated to provide solutions enabling precise testing and validation of Luminars LiDARbased software systems in virtual settings. Compared to its predecessors, the Halo sensor is smaller and more aesthetically pleasing, blending perfectly with the vehicles roofline or behind the windscreen. Along with this, Luminar stated that it had started shipping lidar sensors to Volvo Cars before the construction of the EX90 electric SUV, which is expected to be the first consumer car in the world to use this technology. Read More..

B2B Tech News | 2 months ago          

Microsoft Unveils Phi3mini A Costeffective AI Model for Broader Accessibility

Microsoft has unveiled Phi3mini, a lightweight AI model designed to provide more affordable choices for a broader range of customers. Launching the fi

Microsoft has unveiled Phi3mini, a lightweight AI model designed to provide more affordable choices for a broader range of customers. Launching the first of Microsofts three Small Language Models SLMs underscores the companys dedication to a technology that has the potential to transform both the workplace and society completely. Microsofts VP of GenAI research, Sébastien Bubeck, emphasises how affordable Phi3 is—it costs ten times less than comparable models. SLMs are especially good for businesses with fewer resources because they are designed for smaller tasks. With optimisation for Nvidia GPUs, Phi3mini is now available on Hugging Face, Microsoft Azure, and Ollama, increasing its usability and accessibility. Microsoft is committed to developing AI capabilities, as seen by its recent collaborations and investments. Read More..

B2B Tech News | 2 months ago          

Huawei Ventures into Electric Vehicle Sector with Qiankun Software Brand

Huawei has stated its ambitions in the electric car industry by launching Qiankun, a new software brand for intelligent driving. The company wants to

Huawei has stated its ambitions in the electric car industry by launching Qiankun, a new software brand for intelligent driving. The company wants to provide selfdriving systems with various parts, including audio and chassis for driving. Over ten automobile types that use Huaweis Qiankun system are expected to be on the market within a year, according to CEO Jin Yuzhi, and 500,000 vehicles using Huaweis selfdriving technology are anticipated by years end. Launched in 2019, Huaweis smart car division aims to become a significant supplier in the EV age, comparable to German behemoth Bosch. Seven EV vehicles, including the S9 sedan sold under the exclusive Stelato brand, have been revealed by the business in collaboration with other Chinese automakers. Read More..

B2B Tech News | 2 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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