Technology
Tech’s splurge on AI chips has companies in ‘arms race’ that’s forcing more spending
Meta founder and CEO Mark Zuckerberg speaks during the Meta Connect event at Meta headquarters in Menlo Park, California, on Sept. 27, 2023. Josh Edelson | AFP | Getty Images Meta CEO Mark Zuckerberg has been assembling a large stockpile of Nvidia chips, spending billions of dollars so his company can develop and train advanced […]
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Britain will soon lay out new plans to regulate ‘buy now, pay later’ firms like Klarna after delays
Buy now, pay later firms like Klarna and Block’s Afterpay could be about to face tougher rules in the U.K. Nikolas Kokovlis | Nurphoto | Getty Images Britain’s new Labour government will soon set out updated plans to regulate the “buy now, pay later” industry, a government spokesperson told CNBC. A Treasury department spokesperson said […]
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Grayscale’s $9 billion head start in ethereum is at risk as big investors launch ETFs
Representation of cryptocurrency and Gayscale logo displayed on a phone screen. Jakub Porzycki | Nurphoto | Getty Images For crypto firm Grayscale, it’s deja vu in the ETF market. On Tuesday, the first spot ether exchange-traded funds hit the U.S. The ETFs will invest directly in ether, the cryptocurrency used in the Ethereum network, allowing […]
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IBM shares jump on earnings and revenue beat
Arvind Krishna, CEO of IBM, arrives for the Inaugural AI Insight Forum in Russell Building on Capitol Hill, on Wednesday, September 13, 2023. Tom Williams | Cq-roll Call, Inc. | Getty Images IBM shares rose 5% in extended trading on Wednesday, after the company reported second-quarter results that surpassed analysts’ predictions. Here are the key […]
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Tesla shares fall 7% in premarket trading after earnings miss
Elon Musk, CEO of Tesla. Antonio Masiello | Getty Images Tesla shares fell more than 8% in premarket trading in the U.S. after the electric carmaker reported second-quarter earnings that missed expectations amid ongoing pressure in its auto business. The stock pared losses to trade down 7.3% at 04:37 ET. Elon Musk’s electric vehicle firm […]
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How CrowdStrike caused a global IT meltdown and what comes next
Last week, the world faced what was likely the biggest IT failure in history. When some people around the world logged onto their laptops on Friday, they were greeted with a blue error screen on their Microsoft Windows operating system. But this was not a Microsoft issue. It was all to do with a U.S. […]
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Alphabet to invest $5 billion in self-driving car unit Waymo
A Waymo rider-only robotaxi is seen during a test ride in San Francisco on Dec. 9, 2022. Paresh Dave | Reuters Alphabet is again investing in its self-driving car unit Waymo — this time with $5 billion. “This new round of funding will enable Waymo to continue to build the world’s leading autonomous driving company,” […]
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Lyft president Kristin Sverchek to exit on Aug. 20
An empty Lyft pickup area is shown as ride-share drivers hold a rally as part of a statewide day of action to demand that ride-hailing companies Uber and Lyft follow California law and grant drivers “basic employee rights,” in Los Angeles on Aug. 20, 2020. Mike Blake | Reuters Lyft announced Tuesday that company president […]
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OpenAI reassigns top AI safety executive Aleksandr Madry to role focused on AI reasoning
OpenAI last week removed Aleksander Madry, one of OpenAI’s top safety executives, from his role and reassigned him to a job focused on AI reasoning, sources familiar with the situation confirmed to CNBC. Madry was OpenAI’s head of preparedness, a team that was “tasked with tracking, evaluating, forecasting, and helping protect against catastrophic risks related […]
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AI startup Cohere cuts staff after $500 million funding round
Cohere, the artificial intelligence startup founded by ex-Google AI researchers and backed by Nvidia, cut about 20 roles on Tuesday, CNBC confirmed. The layoffs at Cohere, which had about 400 employees according to the company, follow the completion of a $500 million funding round from investors including AMD, Salesforce, Oracle and Nvidia that valued the company at […]
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