artificial intelligence

Flush With Cash, Tether Has Got Microsoft, Google, and Amazon in Its Crosshairs
12 Aug

Flush With Cash, Tether Has Got Microsoft, Google, and Amazon in Its Crosshairs

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WIRED: This year, Tether has moved to diversify its business model with a push into venture capital. Tell me about the rationale.Ardoino: Tether has become extremely profitable in the last two years thanks to the increase in interest rates. When Tether started, you could make 0.2 percent on the reserve, but today you can make 5.5 percent. Of course, that might be time-limited—we are hearing about potential rate cuts—but it’s very hard even with inflation at 3 or 4 percent to go back to the 0.2 percent scenario.In the last 24 months, Tether has accrued around $11.9 billion profit. With…
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Apple’s iPhone 16 Will Keep Sales Stable Until Bigger Changes Arrive
11 Aug

Apple’s iPhone 16 Will Keep Sales Stable Until Bigger Changes Arrive

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Apple’s iPhone 16 will keep sales stable until more innovative models are ready next year. Also: A smaller Mac mini is underway; iOS 18’s Photos app changes course; and why the company is moving to a plastic version of its SE watch. Source link lol
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Intel Scraps Innovation Expo as Cash-Strapped Company Makes Cuts
09 Aug

Intel Scraps Innovation Expo as Cash-Strapped Company Makes Cuts

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Intel Corp., which is cutting jobs and costs to preserve its shrinking cash pile, postponed an Innovation event that had been scheduled for next month in San Jose, California. The chipmaker plans to focus on other gatherings, such as webinars, hackathons and the Intel AI Summit, in lieu of the Innovation conference, the company said Friday in an emailed statement. Source link lol
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Khosla Ventures Backs AI Startup DevRev at $1.15 Billion Valuation
09 Aug

Khosla Ventures Backs AI Startup DevRev at $1.15 Billion Valuation

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DevRev Inc., a startup using artificial intelligence for customer support and other tasks, raised $100 million from Khosla Ventures and other investors in round that valued the company at $1.15 billion.Co-founded in 2020 by Chief Executive Officer Dheeraj Pandey, who also helped start Nutanix Inc., DevRev says its offerings use AI to improve the efficiency of employees on support, product and engineering teams. Source link lol
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Cisco to Cut Thousands of Jobs in New Layoff Round, Reuters Says
09 Aug

Cisco to Cut Thousands of Jobs in New Layoff Round, Reuters Says

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Cisco Systems Inc. plans to cut thousands more jobsBloomberg Terminal in a second round of layoffs this year, Reuters reported, as the networking equipment maker shifts its focus to faster-growing businesses such as cybersecurity and artificial intelligence.The news comes on top of the approximately 4,000 jobs the company announced in February that it would eliminate, after a slowdown in corporate tech spending wiped out its sales growth. Source link lol
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Microsoft Says Iranian Hackers Targeted US Political Campaigns
09 Aug

Microsoft Says Iranian Hackers Targeted US Political Campaigns

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A hacking group linked to the Iranian government tried to breach the email accounts of presidential campaign staffers as part of a wider effort to gather intelligence ahead of the US election, Microsoft Corp. said Friday.Attackers connected to the Islamic Revolutionary Guard Corps in June used a compromised email address from a former political adviser to try phishing another high-ranking presidential campaign official, according to findings from Microsoft’s Threat Analysis Center. That group, which Microsoft calls Mint Sandstorm, also unsuccessfully attempted to log in to the account of a former presidential candidate. The report didn’t identify the individual targets by…
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TSMC Sales Grow 45% in July on Strong AI Chip Demand
09 Aug

TSMC Sales Grow 45% in July on Strong AI Chip Demand

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Taiwan Semiconductor Manufacturing Co.’s revenue rose 45% in July, an early indication of strong demand for AI chips even as a global tech selloff underlined growing doubts about the technology’s potential.Sales for the month reached NT$256.95 billion ($7.9 billion). For the third quarter, analysts project TSMC revenue should grow 37% to NT$747.4 billion, with the July result suggesting TSMC may surpass those expectations. Source link lol
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Alibaba, Tencent to Provide Snapshot of China’s Economic Landscape
09 Aug

Alibaba, Tencent to Provide Snapshot of China’s Economic Landscape

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Alibaba Group Holding Ltd., Tencent Holdings Ltd. and JD.com Inc. will provide a snapshot of China’s economy and consumer sentiment, as another somber earnings season is expected in the region.The tech giants remain focused on boosting shareholder returns, so more buybacks might be in store when they report, accordingBloomberg Terminal to Bloomberg Intelligence analysts Robert Lea and Jasmine Lyu. Source link lol
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