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Uber Announces $7 Billion Share Repurchase Program Amid Record High Stock Performance

Uber Technologies shares rose to a new high as it unveiled its firstever $7 billion share repurchase programme. The decision comes after the business

Uber Technologies shares rose to a new high as it unveiled its firstever $7 billion share repurchase programme. The decision comes after the business reported its first annual net profit since going public in 2019, driven by a strong rebound in rideshare revenue and sustained demand for its food delivery service. According to CFO Prashanth MahendraRajah, the buyback is evidence of Ubers sound financial standing. Shares rose 12% as a result of the excellent reaction from investors. Ubers $3.4 billion in free cash flow for 2023 was a notable improvement, even in the face of a drivers planned strike demanding equitable compensation. Over the next three years, analysts expect Ubers gross bookings and adjusted core earnings to continue growing, interpreting the repurchase as evidence of the companys operational success. Read More..

B2B Tech News | 2 months ago          

Renesas Electronics to Acquire Altium for $5.9 Billion to Strengthen Automotive Chip Offerings

Renesas Electronics declared that it will pay $5.9 billion in cash to acquire the electronics design company Altium to improve the digital device desi

Renesas Electronics declared that it will pay $5.9 billion in cash to acquire the electronics design company Altium to improve the digital device design services it provides to clients, especially in the automotive chip industry. Renesas, wellknown for supplying chips to automakers such as Nissan and Toyota, is attempting to broaden its scope by incorporating Altiums digital circuit board design tools. Expected to be completed in the second part of the year, subject to shareholder and regulatory clearance, both boards authorised the acquisition. Following the announcement, Altiums share price increased by 28%, indicating that the market was confident about the purchase. Renesas calculated action fits in with Japans expanding outward mergerandacquisition trend, which is fueled by initiatives to improve the countrys competitiveness and supply chain resilience globally. Read More..

B2B Tech News | 2 months ago          

Prudential Financial Discloses Breach, Investigates Unauthorized Access to IT Systems

The renowned international financial services firm Prudential Financial, which oversees $1.4 trillion in assets, said it was the victim of a recent ha

The renowned international financial services firm Prudential Financial, which oversees $1.4 trillion in assets, said it was the victim of a recent hack in which hackers had access to contractor and employee data before being prevented from using the hacked systems. The hack, discovered on February 5, involves user accounts and specific IT systems being accessed without authorization. Although there is a suspicion that a cybercrime gang is involved in the incident, Prudential has not discovered any proof of compromised client data. The organization is looking into it to determine its kind of breach. Previously, in May 2023, a breach involving a thirdparty vendor affected around 320,000 Prudential clients. Prudential evaluates the possible effects of the current intrusion after reporting it to the authorities. Read More..

B2B Tech News | 2 months ago          

Redington Forecasts Revival in PC Demand Fueled by AI Features in New Devices

Redington, an Indian distributor of tech products, believes that releasing new gadgets featuring artificial intelligence AI capabilities would spur de

Redington, an Indian distributor of tech products, believes that releasing new gadgets featuring artificial intelligence AI capabilities would spur demand for personal computers in the upcoming fiscal year. After reductions during the previous six quarters, Ramesh Natarajan, CEO of Redingtons Singapore, India, and South Asia SISA division, anticipates singledigit percentage growth in the PC business for fiscal 2025. The market is anticipated to be stimulated by AIenabled PCs outfitted with processors that can execute AI applications locally. To diversify income sources beyond the sale of gadgets, Redington also anticipates development in its mobile phone business, particularly in the higherend market. Redington is also concentrating on growing its cloud services. Read More..

B2B Tech News | 2 months ago          

Saankhya Labs Receives Approval from MeitY for Semiconductor Design Project Under DLI Scheme

The Ministry of Electronics and Information Technology, Government of India MeitY has approved Saankhya Labs, a Tejas Networks subsidiary, for its app

The Ministry of Electronics and Information Technology, Government of India MeitY has approved Saankhya Labs, a Tejas Networks subsidiary, for its application under the Semiconductor Design Linked Incentive DLI initiative. The creation of a SystemonChip SoC intended for 5G telecom infrastructure equipment has been approved. For semiconductor design initiatives, the DLI programme offers financial incentives and assistance for the design infrastructure. After CDAC reviewed Saankhya Labs application on MeitYs behalf, payment was approved pending the fulfilment of development milestones. The CEO and Managing Director of Saankhya Labs, Parag Naik, thanked the government and highlighted the programs contribution to supporting domestic semiconductor development, aligning with Indias goal of selfsufficiency in the industry. Read More..

B2B Tech News | 2 months ago          

New Gen AI Quality & Trust Solution by CitiusTech Aims to Ensure Reliability in Healthcare AI

To guarantee dependability, quality, and confidence in Generative AI Gen AI solutions, CitiusTech has unveiled the Gen AI Quality & confidence solutio

To guarantee dependability, quality, and confidence in Generative AI Gen AI solutions, CitiusTech has unveiled the Gen AI Quality & confidence solution, an industryfirst solution designed for healthcare organisations. The answer addresses compliance and dependability issues, which frequently impede Gen AI initiatives. CitiusTech empowers its clients to confidently adopt Gen AI technologies, with the potential to acquire competitive advantages in the healthcare industry, by prioritising trust, quality, and dependability. The solution uses automated design and decisionmaking skills. It comprises a softwarebased framework with consultation, implementation, and support services. The solution offers a complete method of assessing, confirming, and monitoring the quality and trustworthiness of Gen AI solutions in the healthcare industry. It interfaces effortlessly with current MLOps, DataOps, and Quality Management Systems. Read More..

B2B Tech News | 2 months ago          

Report Statebacked Hackers from Russia, China, and Iran Using Microsoftbacked OpenAI Tools for Cyber Operations

A study issued on Wednesday claims that statesponsored hackers from North Korea, China, Iran, and Russia have improved their hacking skills by using t

A study issued on Wednesday claims that statesponsored hackers from North Korea, China, Iran, and Russia have improved their hacking skills by using tools from Microsoftbacked OpenAI. Microsoft revealed that these organisations were using big language models to improve their cyberattacks and produce replies that seemed human. Microsoft responded by outlawing access to its AI products for statesponsored hacking organisations. The disclosure highlights worry about AIs improper application and the fast spread of espionage endeavours. The hackers use of AI techniques has been described by OpenAI and Microsoft as "earlystage" and "incremental," with no notable advancements having been noticed yet. The prohibition reduces the risks of using AI for evil purposes, emphasising the difficulties of this cuttingedge technology. Read More..

B2B Tech News | 2 months ago          

Lucid Group Slashes Prices of Air Luxury Sedans in Bid to Boost Demand

Lucid Group is trying to stimulate demand in the face of a slowing market for electric cars by lowering the price of its Air luxury sedans by 1% to 10

Lucid Group is trying to stimulate demand in the face of a slowing market for electric cars by lowering the price of its Air luxury sedans by 1% to 10%. The cars are intended to be more competitively priced, with the Air Pure rearwheel drive starting at $69,900 and the Air Grand Touring at $109,900. The action was taken in response to a slowdown in demand for EVs, which forced manufacturers to modify their production and pricing schedules. Along with these benefits, Lucid announced that every Lucid Air purchase or lease will come with a $1,000 allowance for specific charging accessories and free regular maintenance for two years. Even with these initiatives, a slower growth rate for the worldwide EV market is anticipated in 2024 due to reduced governmental subsidies. 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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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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