Investors’ enthusiasm for artificial intelligence (AI) remains strong, as shown by the staggering $18.9 billion raised by AI-related startups in the third quarter of 2023, according to data from Crunchbase. While this figure represents a 19% drop from the record-breaking $23.4 billion raised in Q2, it is still a notable 30% increase compared to Q3…
Taiwan’s Foxconn, the world’s largest contract electronics manufacturer, posted its highest-ever third-quarter revenue, largely driven by a surge in demand for artificial intelligence (AI) servers. The company, best known as the primary assembler of Apple’s iPhones, exceeded market expectations with a significant 20.2% year-on-year increase in revenue, reaching T$1.85 trillion ($57.3 billion). In a statement…
China’s manufacturing sector experienced another setback in September, contracting for the fifth consecutive month, as the world’s second-largest economy continues to grapple with a range of challenges hindering its growth momentum. The official manufacturing purchasing managers’ index (PMI) reported a slight uptick to 49.8, compared to August’s reading of 49.1, but it still remains below…
Apple has reportedly exited negotiations to participate in a significant funding round for OpenAI, expected to raise approximately $6.5 billion. The Wall Street Journal broke the news on Friday, citing sources familiar with the matter. According to these reports, the tech giant recently withdrew from the talks, just before the round is set to close…
Former U.S. President Donald Trump, now the leading Republican candidate for the 2024 presidential election, has made a new and bold accusation against Google, alleging that the tech giant manipulates search results to display predominantly negative news stories about him. In a post on his social media platform, Truth Social, Trump declared that, if elected…
Over $800 million has been pledged to support the Africa Centres for Disease Control and Prevention (Africa CDC) in its fight against a rapidly escalating mpox outbreak, exceeding initial funding goals. The announcement was made by the agency’s director general, Jean Kaseya, on Thursday, marking a significant step forward in the continent’s response to the…
H&M, the Swedish retail giant and the world’s second-biggest listed fashion retailer, has made headlines for scrapping its margin target for 2024. The decision comes as the company grapples with rising costs, increased discounting, and fierce competition, particularly from rivals like Zara and Shein. This shift raises significant questions not only for H&M’s future but…
The recent developments in the European banking sector, particularly the emerging takeover battle between Italy’s UniCredit and Germany’s Commerzbank, represent a significant moment for the region’s financial landscape. This confrontation, sparked by UniCredit’s bid to acquire a substantial stake in Commerzbank, underscores the ongoing tensions and challenges within the European banking system, particularly regarding the…
The Swiss National Bank (SNB) made headlines on Thursday by implementing its third monetary policy easing of the year, reducing its key interest rate by 25 basis points to 1.0%. This decision was widely anticipated, with 30 out of 32 analysts surveyed in a Reuters poll predicting the move. The latest reduction highlights the SNB’s…
At its annual Connect conference on Wednesday, Meta Platforms, the owner of Facebook, highlighted its commitment to artificial intelligence (AI) with significant announcements, including new capabilities for its services and the introduction of its first working prototype of augmented-reality glasses, dubbed Orion. While the unveiling of the Orion glasses attracted considerable attention, the core narrative…
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