Elon Musk, the CEO of Tesla, recently took to social media to gauge public opinion on whether Tesla should invest $5 billion into his latest startup venture, xAI. This informal poll sparked interest and speculation among investors and followers of Musk’s various ventures, including Tesla, SpaceX, The Boring Company, Neuralink, and X Corp. The question
Earnings
In the upcoming weeks, the financial reports of major tech companies will shed light on the feasibility and sustainability of artificial intelligence, as well as the substantial investments required to propel AI forward in the long term. A positive outlook on AI’s potential is shared by analysts at Wedbush Securities, who anticipate a surge in
The chip stocks in Asia experienced a significant decline following a tech selloff on Wall Street amidst reports suggesting that the U.S. may be contemplating tighter export restrictions. This news sent shockwaves through the market, causing shares of Taiwan Semiconductor Manufacturing Company (TSMC), the world’s largest chip supplier, to plummet by as much as 4.3%
ASML has once again exceeded expectations with their second-quarter earnings and sales, outperforming the LSEG consensus estimates. Their net sales of 6.24 billion euros ($6.8 billion) surpassed the expected 6.03 billion euros, while their net profit of 1.58 billion euros was higher than the anticipated 1.43 billion euros. The Dutch firm’s ability to thrive in
Meta, the parent company of Facebook, has recently come under fire from EU regulators for its ad-supported subscription model. The European Commission has accused Meta of failing to comply with the bloc’s landmark antitrust rules regarding the introduction of this new service, which offers users a “pay or consent” choice. This model requires users to
In a recent development, Meta has introduced a new subscription offering called “Meta Verified” that allows users to purchase a blue checkmark for $14.99 per month. While the specific numbers related to the uptake of this new feature have not been disclosed by Meta, it is evident that the social media giant is placing a
The week has been challenging for software and enterprise technology companies, with Salesforce being hit hard by shrinking deals and delayed revenue. The company’s CEO, Marc Benioff, mentioned on the earnings call that the rapid growth experienced during the Covid age has now resulted in customers having to integrate new technology and rationalize their processes.
Dell Technologies experienced a significant drop in its stock value, plummeting more than 16% on Friday. This decline was a result of investors becoming disheartened by the company’s lower-than-expected artificial intelligence server backlog and a projected decrease in margins. Despite the fact that Dell reported fiscal first-quarter results that surpassed analysts’ expectations and provided optimistic
Nvidia, once known as a niche developer of 3D gaming hardware, has now emerged as a key player in the tech industry. The company’s fiscal first-quarter earnings report is highly anticipated, with Wall Street expecting strong results in terms of both earnings per share and revenue. Over the past year, Nvidia’s revenue has seen a
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