Inditex, the company that owns Zara, reported on Wednesday that sales of the spring/summer collection accelerated to increase 16% in May as the retailer offsets increasing labour expenses and retains customers amid a crisis in the cost of living. The largest fast-fashion retailer in the world announced a better-than-anticipated 54% increase in net profit of…
One day after the creator of the software reported that a security issue had been detected, U.S. security researchers claimed that hackers had stolen data from the systems of a number of users of the well-known file transfer tool MOVEit Transfer. After revealing the flaw on Wednesday, software developer Progress Software Corp warned that it…
The privacy authority in Japan said on Friday that it had cautioned OpenAI, the Microsoft-backed business that created the ChatGPT chatbot, not to gather private information without people’s consent. The Personal Information Protection Commission stated in a statement that OpenAI should limit the sensitive data it gathers for machine learning, adding that it may take…
After months of collapsing demand, better cost controls enabled Dell Technologies Inc to surpass expectations for first-quarter profit on Thursday. However, a full rebound is still some time away because Dell predicted current-quarter revenue below Wall Street forecasts and cautioned that IT investment would remain conservative. The results contrasted with rivals HP Inc. and Lenovo…
In an overvalued market, seasoned tech investors are looking for inexpensive chances. The question is how to invest in the promise of artificial intelligence (AI), which advanced in November with the introduction of the ChatGPT bot by Microsoft-backed OpenAI, without entering a bubble. Since the introduction of ChatGPT, the stock price of Nvidia, a manufacturer…
Chinese automakers, not American leader Tesla or neighbouring foe General Motors, are Ford Motor’s biggest rivals in the electric vehicle market, according to CEO Jim Farley. Farley claimed that when it comes to electric vehicles, notably battery chemistry and other cutting-edge technology, Chinese firms, like the BYD company financed by Warren Buffett, are ahead of…
According to Wednesday reports from Western intelligence agencies and Microsoft, a state-sponsored Chinese hacking gang has been eavesdropping on a variety of essential infrastructure companies operating in the United States, from telecommunications to transportation hubs. According to a study from Microsoft, the espionage has also targeted Guam, a U.S. territory with strategically significant American military…
The rise of generative artificial intelligence (AI) is everything, everywhere, at once, according to Nvidia Corp. The stock of the chip designer increased by 25% on Thursday as a brilliant projection revealed that Wall Street has not yet priced in the AI potential of the business, which has already doubled in value by 2023. Nvidia…
According to a source with direct knowledge of the situation who spoke to Reuters, Indian company Ola Electric plans to list on the stock market by the end of 2023 and has hired domestic bank Kotak and investment bank Goldman Sachs to oversee the share sale. When Ola Electric raised its most money in 2022,…
Intel Corp. recently released a few more details about an AI computer processor it intends to release in 2025 as part of a strategic shift to compete with Advanced Micro Devices Inc. and Nvidia Corp. Intel said that their upcoming “Falcon Shores” chip will contain 288 gigabytes of memory and enable 8-bit floating point processing on…
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