Technology
Uber reports better-than-expected results for second quarter
Dara Khosrowshahi, CEO of Uber, speaking on CNBC’s Squawk Box at the World Economic Forum Annual Meeting in Davos, Switzerland on Jan. 17th, 2024. Adam Galici | CNBC Uber reported second-quarter results that topped Wall Street estimates on Tuesday. The stock rose about 4% in pre-market trading. Here’s how the company did for the period […]
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Abnormal Security, valued at $5.1 billion amid email security push, eyes eventual IPO
Abnormal Security co-founders Sanjay Jeyakumar and Evan Reiser Abnormal Security Cybersecurity company Abnormal Security said Tuesday it has raised $250 million in a Series D funding round that values the firm at $5.1 billion. Abnormal’s latest funding round is being led by Wellington Management and includes existing investors Greylock Partners, Menlo Ventures, Insight Partners, as […]
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OpenAI co-founder John Schulman says he will leave and join rival Anthropic
The ChatGPT chat screen on a smartphone arranged in the Brooklyn borough of New York, US, on Thursday, March 9, 2023. ChatGPT has made writing computer code and cheating on homework easier. Soon, it could make email scams a cinch. That’s the warning from Darktrace Plc, the British cybersecurity firm. Gabby Jones | Bloomberg | […]
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Trump’s tech backers are ‘making a big mistake,’ Sequoia’s Mike Moritz says
Michael Moritz, Sequoia Capital Scott Mlyn | CNBC As leading tech investors continue to vocally take sides ahead of the 2024 presidential election, legendary venture capitalist Michael Moritz is making his preference clear. In a Financial Times opinion piece published on Monday, Moritz wrote that those in the industry who are supporting Donald Trump “are […]
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$1 trillion wipeout: Market rout punishes mega-cap tech
Traders work on the floor of the New York Stock Exchange during morning trading on July 31, 2024. Michael M. Santiago | Getty Images As U.S. markets opened for trading on Monday, tech’s mega-cap companies lost about $1 trillion in market cap, deepening a downturn that sent the Nasdaq into correction territory last week. Nvidia […]
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SoftBank shares tank near 19%, wiping off $4.6 billion from founder Masayoshi Son’s fortune
Masayoshi Son, CEO of SoftBank, speaks during the company’s annual general meeting in Tokyo on June 20, 2024. Kosuke Okahara | Bloomberg | Getty Images SoftBank Group shares tanked nearly 19% on Monday amid a global sell-off, wiping off billions of dollars from founder Masayoshi Son’s fortune. Shares of the Japanese giant, known as one […]
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Bitcoin briefly drops below $50,000 for the first time since February
Bitcoin fell sharply after a sell-off of major U.S. stock indices. Bitcoin has been correlated closely to the price movement of the Nasdaq index. Luke MacGregor | Bloomberg | Getty Images Cryptocurrencies tumbled amid a global market sell-off spurred by recession fears. The price of bitcoin sank more than 11% on Monday to $52,501.62, according […]
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Crypto selloff wipes out $270 billion in value as bitcoin, ether plunge
Nurphoto | Nurphoto | Getty Images The cryptocurrency market plummeted in value on Sunday, as investors continued selling out of risky assets. Led by a drop of 11% in bitcoin in the past 24 hours and a 21% plunge in ether, the overall value of cryptocurrencies sank by about $270 billion, according to CoinGecko data. […]
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Tech stocks wrap up steepest three-week slump in two years, led by plunge in Amazon and Intel
Signage outside the Nasdaq MarketSite in New York on March 23, 2023. Stephanie Keith | Bloomberg | Getty Images With second-quarter earnings from tech’s mega-cap companies largely in the rearview mirror, one thing is clear: Wall Street is nervous. The Nasdaq slumped 3.4% this week, bringing its three-week slide to 8.8%. It’s the worst performance […]
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Ex-Google engineers who founded Character.AI rejoin company with new AI partnership
Pavlo Gonchar | Lightrocket | Getty Images Founders of one of the hottest artificial intelligence startups Character.AI are rejoining Google along with other team members. Noam Shazeer and Daniel De Freitas, in addition to certain members of Character.AI’s research team, are joining Google’s AI unit DeepMind, the companies said Friday. Character.AI uses large language models […]
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