Today: October 07, 2024
Today: October 07, 2024

Latest From Reuters

Business|Economy|Technology

GlobalFoundries forecasts Q2 revenue, profit above estimates on chip market recovery

GlobalFoundries forecast second-quarter revenue above Wall Street estimates on Tuesday, betting on improving demand for semiconductors after a years-long slump that was caused by surplus

GlobalFoundries forecasts Q2 revenue, profit above estimates on chip market recovery
Business|Economy|Technology

Nikola's revenue misses estimates on slowing truck demand

Nikola missed Wall Street expectations for first-quarter revenue on Tuesday, as the electric truck maker delivered fewer hydrogen fuel cell trucks amid an uncertain macroeconomic outlook

Nikola's revenue misses estimates on slowing truck demand
Business|Technology

China's COMAC to expand Shanghai C919 plane factory as orders grow

China's COMAC is expanding production facilities for its homegrown C919 jets in Shanghai, according to one of the project contractors, as the state-owned planemaker ramps up

China's COMAC to expand Shanghai C919 plane factory as orders grow
Business|Economy|Technology

Tesla's China-made EV sales fall 18% in April; shares slip

U.S. automaker Tesla sold 62,167 China-made electric vehicles in April, down 18% from a year earlier, lagging the broader market's surge, China Passenger Car Association (CPCA)

Tesla's China-made EV sales fall 18% in April; shares slip
Business|Technology

China's Nio turns to rival BYD to power new EV brand, sources say

China electric vehicle maker Nio has struck a deal with larger rival BYD to source batteries for an EV brand priced at a lower range that aims to compete with Tesla, three sources

China's Nio turns to rival BYD to power new EV brand, sources say
Business|Technology

Amazon to spend nearly $9 billion to expand cloud infra in Singapore

Amazon.com plans to spend S$12 billion ($8.88 billion) over the next four years to expand its cloud computing infrastructure in Singapore, Amazon Web Services (AWS) said on Tuesday.

Amazon to spend nearly $9 billion to expand cloud infra in Singapore
Business|Technology

Apple working on AI chips for data centers, WSJ reports

Apple is developing its own chip to run artificial intelligence software in data centers, the Wall Street Journal reported on Monday, citing people familiar with the matter.

Apple working on AI chips for data centers, WSJ reports
Business|Technology

Axon raises full-year revenue forecast on strong demand for its software products

Axon Enterprise raised its full-year core profit and revenue forecast Monday, banking on strong demand for its software products and recently launched TASER 10 policing device.

Axon raises full-year revenue forecast on strong demand for its software products
Business|Technology

Microsoft readies new AI model to compete with Google, OpenAI, The Information reports

Microsoft is training a new, in-house AI language model large enough to compete with those from Alphabet's Google and OpenAI, the Information reported on Monday.

Microsoft readies new AI model to compete with Google, OpenAI, The Information reports
Business|Technology

Tesla lays off more staff in software, service teams, Electrek reports

Electric-vehicle maker Tesla has laid off staff from the software, service and engineering departments, tech publication Electrek reported on Monday, citing sources familiar with the matter

Tesla lays off more staff in software, service teams, Electrek reports
Business|Political|Technology

Trump Media dismisses auditor BF Borgers amid SEC fraud charges

Former U.S. President Donald Trump's media and technology company said it had replaced its auditor, BF Borgers, after the U.S.

Trump Media dismisses auditor BF Borgers amid SEC fraud charges
Business|Economy|Technology

Synopsys sells software integrity unit for $2.1 billion to PE group

Synopsys said on Monday it would sell its software integrity (SIG) unit to a private-equity group led by Clearlake Capital and Francisco Partners in a $2.1 billion deal, as it shifts its

Synopsys sells software integrity unit for $2.1 billion to PE group
Business|Economy|Technology

Volvo Cars April sales rise on strong EV demand

Volvo Cars' sales rose 27% in April from a year earlier to 65,838 cars, boosted by demand for electric and hybrid vehicles, the Sweden-based group said on Monday.

Volvo Cars April sales rise on strong EV demand
Business|Economy|Environment|Technology

French carmakers target fourfold jump in EV sales by 2027

France's car industry will aim to ramp up electric car sales fourfold by 2027 under a strategy agreement to be signed with the government on Monday, just as the president of China

French carmakers target fourfold jump in EV sales by 2027
Business|Technology

Atos board reported to be meeting Sunday to review takeover bids

The board of French tech firm Atos was due to meet on Sunday evening to consider takeover offers, including one submitted by Czech businessman Daniel Kretinsky, Les Echos and Le

Atos board reported to be meeting Sunday to review takeover bids
Business|Technology

Foxconn reiterates Q2 revenue to grow, posts record April sales

Taiwan's Foxconn, the world's largest contract electronics maker and the biggest assembler of Apple's iPhone, reiterated on Sunday it expected a rise in second-quarter revenue, and

Foxconn reiterates Q2 revenue to grow, posts record April sales
Business|Technology

EV startup Rivian hires Volvo veteran Varela as operations chief

Rivian Automotive named Javier Varela its chief operating officer on Friday, bolstering its ranks with the Volvo veteran as the electric-vehicle startup expands its production facility

EV startup Rivian hires Volvo veteran Varela as operations chief
Business|Economy|Technology

China's Zeekr seeks up to $5.13 billion valuation in US IPO

Electric vehicle maker Zeekr Intelligent Technology Holding said on Friday it was targeting a valuation of up to $5.13 billion in its U.S. initial public offering (IPO), the first major

China's Zeekr seeks up to $5.13 billion valuation in US IPO
Business|Technology

Reddit CEO beneficially owns 61.5% of class A shares, regulatory filing shows

Reddit co-founder and CEO Steve Huffman beneficially owns 62.4 million Class A shares of the social media company, a regulatory filing showed on Friday.

Reddit CEO beneficially owns 61.5% of class A shares, regulatory filing shows
Business|Economy|Technology

SVB Financial to sell VC business SVB Capital

Collapsed U.S. lender SVB Financial Group said on Thursday that an entity affiliated with Pinegrove Capital Partners will acquire its venture capital business, SVB Capital.

SVB Financial to sell VC business SVB Capital
Business|Technology

Walmart-backed Ibotta shares surge 33% in strong market debut

Shares of digital marketing firm Ibotta soared 33% on their debut on the New York Stock Exchange on Thursday, giving the Walmart-backed company a

Walmart-backed Ibotta shares surge 33% in strong market debut
Business|Technology|World

Alstom sells North American conventional signalling business for around $670 million

French train manufacturer Alstom has agreed to sell its North American conventional rail signalling business to German rail systems manufacturer Knorr-Bremse AG for around 630 million

Alstom sells North American conventional signalling business for around $670 million
Business|Economy|Technology

Tech giants' market cap falls on AI doubts, high rates; Alphabet, Tesla gain

The market capitalisation of top technology giants fell sharply in April, pressured by diminishing enthusiasm for artificial intelligence and a scaling back of expectations for central

Tech giants' market cap falls on AI doubts, high rates; Alphabet, Tesla gain
Business|Technology

Qualcomm jumps as AI sparks rebound in Chinese smartphone market

Qualcomm shares climbed about 10% to a more than two-year high on Thursday after the smartphone-focused chipmaker signaled an AI-fueled rebound in demand, especially in China, following a

Qualcomm jumps as AI sparks rebound in Chinese smartphone market
Business|Economy|Technology

Block to add more bitcoin to its treasury, lifts annual forecast

Block lifted its full-year adjusted core earnings forecast on Thursday and revealed plans to add more bitcoin to its balance sheet, as the Jack Dorsey-led firm bets big on the

Block to add more bitcoin to its treasury, lifts annual forecast

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