Innovations, gadgets, and tech industry news.
This price action propelled Bitcoin to its highest in nearly four months, when the latter half of July set off a bigger rally in the broader cryptocurrency market and boded well for many crypto-related stocks. Bitcoin soared past $34,500 on Oct 24 as investors eagerly look forward to positive developments in the crypto sector. The…
The 42 U.S. states are legally challenging Meta Platforms Inc., the company behind Facebook and Instagram, on allegations that the corporation intended to design their platforms socially addictive for teens. The lawsuits acknowledge that the company was very well aware of the kind of damage they would cause at the adolescent mental level. This is…
Turbulence runs deep in China’s stock market. Market corrections over the summer have shown the vulnerability of China’s economy under domestic as well as international pressures. By 2024, this is going to be a major source of turbulence in the Chinese stock market. For instance, the Hang Seng China Enterprises Index plummeted 3.9%, the worst…
Nvidia stormed the market in 2024, placing it alongside names such as Apple, according to likelihood as an eventual usurper of the world’s most valuable company title. The semiconductor giant’s stock recently closed at a record $138.07, pushing its market capitalization to $3.39 trillion. That puts it closer to Apple’s $3.52 trillion and closer than…
Verizon’s $9.6 billion cash takeover of Frontier Communications drew fire from key investors at Frontier, some of whom think the offer undervalues the company in itself. Frontier’s second-biggest shareholder, Glendon Capital Management, holds close to 10% and will vote against the deal, saying Verizon’s offer of $38.50 a share isn’t high enough. With debt assumption,…
AI chipmaker Cerebras Systems, famous for its massive wafer-scale engine chips, is reportedly planning its IPO for 2024 to really shake up Nvidia, the giant in the AI chip market. The company is really going to be put under the spotlight by its cutting-edge technology: the WSE-3 chip, which contains many more cores and much…
Tesla’s shares dipped by almost 9% following a long-hyped unveiling of its robotaxi Cybercab, leaving investors somewhat disappointed. Although the presentation was quite ambitious by Elon Musk, the CEO of the company, analysts said the event was unhelpfully vague about timelines, product execution, and what Tesla plans in the near term. The show has set…
One of the new bold steps Amazon has been taking in order to revolutionize grocery shopping is by piloting the integration of mini-warehouses within Whole Foods stores as a test, as of now, operating in Pennsylvania. Part of the larger vision here, this will strip down the shopping experience as it enables customers to pick…
Cashierless tech firm Grabango, launched as an adversary to Amazon’s “Just Walk Out” technology, announced its shutdown due to its inability to raise critical funding. Launched in 2016, Grabango built on some advanced checkout-free solutions using computer vision and machine learning. It wanted to revolutionize in-store shopping by removing all lines and traditional checkouts, having…
After months of suspension and amid an intensifying publicized legal standoff with the Brazilian Supreme Court, Elon Musk’s social media platform, X—previously Twitter—has finally been cleared to resume operations in Brazil. The platform was suspended toward the end of August 2024 for failing to comply with court orders on content moderation, especially on hate speech,…
