Sony recently announced a 7% drop in annual profits for the fiscal year 2023, largely due to a decline in its financial services division. Despite the decline, the company managed to exceed revenue expectations with 3.5 trillion yen ($22.4 billion) versus the expected 2.89 trillion yen. This represents a 14% increase year-over-year, marking the first
profits
Huawei, the Chinese tech giant, has reported a significant increase in profits for the first quarter of this year, with a surge of over fivefold compared to the same period last year. This positive development comes as Huawei continues to rebound from the sanctions imposed by the United States. The company has been facing challenges
In recent years, the tech industry has seen a surge in job layoffs despite the impressive earnings of tech giants like Alphabet and Microsoft. Layoffs.fyi reported over 263,000 job losses in 2023 alone, with more than 75,000 jobs lost in the first few months of 2024. This trend has caused concern among tech workers and
The competition between tech giants Microsoft and Google in the realm of generative AI is heating up. Both companies have reported strong quarterly sales and profits, leading to a surge in their stock prices. However, a closer look at their strategies and comments from their CEOs, Sundar Pichai and Satya Nadella, reveals differences in approach
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The U.S. government is currently contemplating new laws to facilitate society’s adjustment to the advent of artificial intelligence. Klarna, a financial services provider, has already witnessed significant labor productivity gains due to the implementation of AI technology. Their AI assistant tool, which is built on OpenAI’s systems, is projected to increase profits by $40 million