The number two U.S. oil major, Chevron Corp, reported second-quarter earnings that above Wall Street expectations on Sunday. Chief Executive Michael Wirth also indicated that the company is still open to new acquisitions and raising shareholder payments this year. Chevron revealed a $6 billion net profit for the three months ended June 30 in a…
The world’s largest contract chipmaker, TSMC, warned of a 10% decline in 2023 sales and delayed the start of production at its first plant in Arizona, sending its stock down more than 3% on Friday. Taiwan Semiconductor Manufacturing Co. Ltd.’s shares outperformed a 1.65% decline in the larger index in early trade. As the effects…
In preparation for an investigation into the American tech giant, German rival alfaview filed a second EU antitrust complaint against Microsoft on Thursday regarding the integration of the video software Teams into its Office product. Since 2020, when Slack, a workspace messaging service owned by Salesforce, complained about the integration of Teams with Office, the…
Following the release of pricing information for its new Microsoft 365 artificial intelligence subscription service, Microsoft shares reached a record closing price on Tuesday. The stock rose 4%, ending the day at $359,49. It has now increased by roughly 50% for the year. The stock’s closing price of $348.10 on June 15 set the previous…
One of the most significant semiconductor equipment companies in the world, ASML, reported an increase in revenue and profit in the second quarter but cautioned of macroeconomic “uncertainties” to come. The Dutch business produces pricey equipment needed to generate the most sophisticated semiconductors in the world. Its clients include industry titans like TSMC, the largest…
According to a person with knowledge of the situation, India’s Tata is anticipated to declare on Wednesday that it has decided to develop an electric vehicle battery plant in Britain, a victory for the nation’s automotive industry in the face of fierce international competition. When deciding where to assemble a new line of electric Jaguar…
Elon Musk stated on Saturday that Twitter’s cash flow is still negative due to a nearly 50% decline in advertising revenue and a high debt load, falling short of his prediction from March that Twitter might become cash flow positive by June. “Need to reach positive cash flow before we have the luxury of anything…
The multibillionaire businessman Elon Musk unveiled his long-rumored artificial intelligence startup xAI on Wednesday. He also introduced a team of engineers from the same major American technology companies that he plans to compete against in his effort to create a ChatGPT competitor. Musk, who is now the CEO of the electric vehicle manufacturer Tesla, the…
Bill Gates, the co-founder of Microsoft, is a supporter of artificial intelligence and has frequently stated that he thinks models like the one behind ChatGPT are the most significant development in technology since the personal computer. He claims that the growth of the technology could result in problems like deepfakes, biassed algorithms, and academic fraud,…
After giving remedies to aid rival Marvell Technology, U.S. chipmaker Broadcom received EU antitrust permission on Wednesday for its $61 billion proposed takeover of cloud computing company VMware. The largest-ever deal for Broadcom will help the chip manufacturer expand into corporate software. The European Commission stated, confirming a Reuters report from last month, that Broadcom…
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