Author: potus

Attendees walk through an exposition hall at AWS re:Invent, a conference hosted by Amazon Web Services, in Las Vegas on Dec. 3, 2024.Noah Berger | Getty ImagesLONDON — Britain’s competition regulator on Thursday declared that Microsoft and Amazon are hurting competition in the cloud computing industry and called for a further probe under the country’s strict new tech rules.The Competition and Markets Authority said that market concentration and barriers to entry in the cloud services market have enabled both Microsoft and Amazon to hold “significant unilateral market power” and reap financial gain exceeding the cost of capital expenditure over a…

WASHINGTON (AP) — Slightly less than half of U.S. adults believe that Black people face “a great deal” or “quite a bit” of discrimination in the United States, according to a new poll. That’s a decline from the solid majority, 60%, who thought Black Americans faced high levels of discrimination in the spring of 2021, months after racial reckoning protests in response to the police killing of George Floyd.Significant numbers of Americans also think diversity, equity and inclusion efforts, also known as DEI, are backfiring against the groups they’re intended to help, according to the survey from The Associated Press-NORC…

Jaque Silva| Nurphoto | Getty ImagesOpenAI on Thursday said it is launching a Stargate-branded AI data center in Norway, marking its first foray into Europe with such a project.British firm Nscale will design and build the site as part of a 50-50 joint venture with Norwegian energy infrastructure firm Aker.OpenAI will be a so-called “off-taker” in the project, meaning it will effectively buy capacity from the data center.”Part of the purpose of this project is to partner with OpenAI and leverage European sovereign compute to release additional services and features to the European continent,” Josh Payne, CEO of Nscale, told…

China is one of Nvidia’s largest markets, particularly for data centers, gaming and artificial intelligence applications.Avishek Das | Lightrocket | Getty ImagesWhile Nvidia has been given assurances by Washington that it will be allowed to resume exports of its made-for-China H20 general processing units, the AI chips’ return may be met with increased scrutiny from Beijing.According to the Cyberspace Administration of China, Nvidia met with Beijing officials on Thursday regarding national security concerns posed by the H20 chips, which are expected to resume shipments to China following an effective ban in April.Nvidia was requested “to clarify and submit relevant supporting…

Elon Musk has expanded a number of his companies within Texas, including Tesla, SpaceX, the Boring Co. and Neuralink. Tesla broke ground on a lithium refinery in Texas earlier this year with Governor Greg Abbott in attendance.Christophe Gateau | Picture Alliance | Getty ImagesElon Musk’s tunneling venture, The Boring Company, announced plans earlier this week to build a 10-mile underground loop in Nashville, in coordination with Tennessee Republican Governor Bill Lee, who put out a press release praising the project.Democratic lawmakers in Nashville are demanding answers on the plans, while the state’s Republican leaders have jumped at the chance to…

Headquarters of Samsung in Mountain View, California, on October 28, 2018. Smith Collection/gado | Archive Photos | Getty ImagesSamsung Electronics on Thursday reported a second-quarter operating profit of 4.7 trillion Korean won ($3.38 billion), missing expectations, weighed by a 93.8% profit slump in its chip business.While Samsung’s second-quarter operating profit beat its own forecast of around 4.6 trillion won, it was a steep drop from the 10.44 trillion won recorded in the same period last year.The South Korean technology giant posted a quarterly revenue of 74.6 trillion won, up slightly from 74.07 trillion won a year earlier and beating its…

Meta CEO Mark Zuckerberg makes a keynote speech at the Meta Connect annual event, at the company’s headquarters in Menlo Park, California, U.S. September 25, 2024.Manuel Orbegozo | ReutersMeta CEO Mark Zuckerberg plans to continue his company’s artificial intelligence spending blitz well into the next year as rival tech giants do the same.Zuckerberg told analysts Wednesday during a second-quarter earnings call that AI’s rapid pace of progress has informed much of Meta’s recent business decisions, including the company’s $14.3 billion June investment into the data-annotating startup Scale AI as part of a revamped AI strategy involving a wave of high-profile…

Signage at eBay headquarters in San Jose, California, U.S.David Paul Morris | Bloomberg | Getty ImagesShares of eBay popped 10% in extended trading on Wednesday after the online marketplace posted stronger-than-expected results for the second quarter, and offered an upbeat forecast for the current period.Here’s how the company did in the second quarter compared to analyst estimates compiled by LSEG.Earnings per share: $1.37 adjusted vs. $1.30 expected Revenue: $2.73 billion vs. $2.64 billion expected GMV, or the dollar value of items sold, grew 6% year over year to $19.5 billion. That topped analysts’ projected $18.9 billion, per StreetAccount estimates.For the…

Dylan Field, co-founder and CEO of Figma, appears at the Bloomberg Technology Summit in San Francisco on May 9, 2024.David Paul Morris | Bloomberg | Getty ImagesFigma, the developer of design software that was supposed to get acquired by Adobe, priced its IPO on Wednesday at $33 per share, above its expected range.The company’s stock will debut on the New York Stock Exchange under the ticker symbol “FIG” on Thursday. The offering raised $1.2 billion, with most of the proceeds going to existing stockholders.Figma is aiming to take advantage of a public market that has slowly reopened for tech IPOs.…

Microsoft Chairman and CEO Satya Nadella speaks in front of the OpenAI logo at the Microsoft Build conference in Seattle, Washington, on May 19, 2025.Jason Redmond | AFP | Getty ImagesThe $4 trillion club has a second member, at least based on after-hours trading. Following a better-than-expected earnings report on Wednesday, Microsoft shares jumped 8%, lifting the software giant’s market cap to about $4.1 trillion. Should the rally stick on Thursday, Microsoft would join chipmaker Nvidia, which hit $4 trillion for the first time earlier this month. Microsoft reported 18% revenue growth, its fastest rate of expansion in over three…