Reddit, the social media giant, has filed its S-1 statement with the Securities and Exchange Commission (SEC), unveiling plans for an initial public offering (IPO) on the New York Stock Exchange under the symbol RDDT. The filing provides a deep dive into Reddit’s finances, revealing a revenue of $804 million in 2023, primarily sourced from...
Mercedes-Benz has decided to veer away from its once-bold commitment to selling only electric cars by 2030. This announcement, made in the company’s recent fourth-quarter earnings report, signals a noteworthy shift in the global automotive industry’s perspective on an all-electric future, echoing concerns spurred by a recent deceleration in electric vehicle (EV) sales growthOptimism to...
Nvidia has unveiled its fiscal fourth-quarter results, sending shockwaves through Wall Street with profits and sales that exceeded expectations. The technology giant’s stellar performance is attributed to its commanding position in the burgeoning artificial intelligence (AI) landscape, as evidenced by a remarkable 265% surge in profit and an astonishing 769% increase in net income. Astounding...
SoftBank Group’s founder, Masayoshi Son, is actively seeking a monumental $100 billion in funding for his latest venture, Izanagi. According to a recent Bloomberg report, this audacious project aims to challenge Nvidia’s dominance in the realm of artificial intelligence (AI) chips, signaling a strategic shift for the Japanese conglomerate. Izanagi will join forces with Arm,...
Shortly after unveiling its ambitious language model Gemini, Google has surprised the tech world by introducing its successor – Gemini 1.5. Positioned as a versatile business tool, personal assistant, and everything in between, Google aims to establish Gemini as an indispensable AI platform. Gemini 1.5 Pro: A Leap Forward Gemini 1.5 Pro, touted as Google’s...
Amazon founder Jeff Bezos has once again liquidated a significant portion of his Amazon stock, this time amounting to a staggering $2.03 billion. This marks the third time within the span of a month that Bezos has opted to sell off a substantial chunk of his holdings. Reports suggest that the billionaire entrepreneur has already...
The U.S. Patent and Trademark Office (USPTO) has clarified that artificial intelligence systems, categorized as “non-human entities,” cannot be designated as inventors in patent applications. The move comes after a series of public hearings to gather feedback on the evolving role of AI in innovation. Disclosure Mandate for AI-Assisted Creations The latest guidance emphasizes that...
Tesla, primarily known for its electric vehicles (BEVs), has quietly amassed a staggering $9 billion since 2009, not by selling its own cars, but by aiding competitors in offloading internal combustion engine (ICE) vehicles. This unconventional revenue stream arises from the sale of regulatory credits, a phenomenon explored in Tesla’s recent annual report filed with...
Apple CEO Tim Cook spoke to ABC reporters in New York, sharing insights into the future of such devices. “I think it [Apple Vision Pro] will be used in many different ways because it’s a spatial computer. You know, the iPhone introduced us to the mobile computer. The Mac introduced us to personal computers. This...
Alphabet’s Ad Revenue Woes Lead to Google’s Stumble Alphabet, the parent company of Google, experienced a significant setback as its shares tumbled by 5.6%. The culprit was Google’s December ad revenue, which fell short of investor expectations. Although quarterly figures reflected a substantial ad revenue of $9.2 billion, marking a commendable 15% year-over-year increase, it...
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