NewsRoom Articles - Page 22 of 35

MondayJun 10, 2024 9:00 am

Musk Asks Nvidia to Prioritize Chips Shipments to X, xAI Over Tesla

Elon Musk, CEO of Tesla Inc. (NASDAQ: TSLA) as well as X and xAI, requested Nvidia give priority to processor shipments to X and xAI rather than Tesla, which has baffled many in the tech industry. An internal memo seen by media outlets revealed that the businessman and investor plans to grow Tesla to become a trailblazer in artificial intelligence and robotics, which will require plenty of expensive processors to establish its infrastructure. Tesla was expected to receive more than $500 million worth of chips from Nvidia. The internal memo with a December date said that the X H100 GPU…

FridayJun 07, 2024 9:00 am

Alibaba Chairman Explains Why Group Is Fully Embracing AI

In a world where technology is rapidly transforming how we live and work, many organizations are focusing on artificial intelligence (AI) as a key to transforming business operations and staying competitive. Alibaba Group Holding Ltd (NYSE: BABA) is embracing AI and encouraging other businesses to follow suit. Joseph Tsai, Alibaba executive vice chair and cofounder, who recently replaced Daniel Zhang, spearheads the need for AI. In a press conference, Tsai shared the company's robust strategy to integrate AI into all facets of the company's operations. According to Tsai, the China tech giant is focused on becoming more aggressive in developing…

WednesdayJun 05, 2024 9:00 am

Coinbase’s Trading Revenue Under Pressure as Crypto Market Matures

Since its inception in 2012, Coinbase Global Inc. (NASDAQ: COIN) has been a forerunner in the digital asset arena. However, the largest cryptocurrency exchange in the United States is facing a significant trading decline as the crypto market matures, a major blow to investors. Experts allude to this shift in reducing market volatility, which is impacting Coinbase's main source of revenue. The digital assets market has undergone several transformations over the years, including direct listing on the NASDAQ in April 2021 and a reduction in the average volatility from 79% in 2021 to 57% in 2024. This reduction is largely due to…

TuesdayJun 04, 2024 9:00 am

D-Wave Quantum Inc. (NYSE: QBTS) CEO Calls on Business Leaders to Adopt Joint AI and Quantum Strategies

CEO Dr. Alan Baratz recently published a piece for the Forbes Technology Council that highlighted the transformation potential in bringing these two technologies together D-Wave is helping companies explore the powerful combination of quantum computing with AI to drive innovation, reduce carbon emissions, and solve complex problems As artificial intelligence (“AI”) continues its rapid enterprise adoption trend, there is growing interest in how quantum computing can be used in conjunction with AI to create better, more cost- and energy-effective solutions in various fields, such as material science, logistics, and complex optimization problems. The way the two technologies could be used…

MondayJun 03, 2024 9:00 am

Lucid Motors to Lay Off 400 Employees

Lucid Motors NASDAQ: LCID), an American manufacturer of luxury electric vehicles, plans to lay off 400 employees, which is about 6% of its headcount. Last year, the company laid off 1,300 employees. This is part of Lucid Motors' strategic move to deal with slower growth and streamline operations for future success. When the company announced plans to lay off employees, it sent ripples through the industry. This news came at a pivotal moment for the company, which plans to launch its first electric Gravity SUV before the end of the year. Lucid Motors said that the restructuring will be completed…

FridayMay 31, 2024 9:00 am

Did QuantumScape Corp. Just Deliver a Sucker Punch to Tesla?

In a recent stunning development, QuantumScape Corp. (NYSE: QS) made headlines with groundbreaking advancements in battery technology. This move has raised many questions, including, Could this disrupt Tesla's dominance in the electric vehicle (EV) market? Since going public in 2020, QuantumScape, a pioneer in solid-state battery technology, has sparked much interest. The company unveiled solid-state cells, considered the next big thing in battery-making technology. Unlike traditional lithium-ion batteries, these new models boast higher-energy density, quicker charging times, improved thermal safety and longer lifespan. These features have been proven to address some of the EV industry's most significant and pressing issues.…

WednesdayMay 29, 2024 9:00 am

An Analysis of Riot Platforms’ Current Market Pricing

Riot Platforms Inc. (NASDAQ: RIOT) is a Bitcoin mining company that is vertically integrated. Its primary revenue earner is its mining activities, though the business also engages in data center engineering and hosting. At the moment, the company’s shares are priced at $10.9 each, and many investors may be wondering whether this pricing is appropriate and whether they can get value if they add this stock to their portfolios. We explore this subject so that intending investors can make an informed decision. With its market cap currently standing at $3.2 billion, Riot Platforms has a $10.3 GF value. Many factors…

FridayMay 24, 2024 9:00 am

What to Expect When D-Wave Quantum Announces Q2 Earnings in August

D-Wave Quantum Inc. (NYSE: QBTS) is scheduled to release its Q2 2023 earnings results on August 10, 2024. According to the company’s projections, the expected revenue is likely to be in the $1.65–$1.8 millio range. The Canadian-based company focuses on providing quantum computing solutions, systems and software. It supplies these offerings to commercial clients. The Consensus Estimate by Zacks puts the company’s Q2 revenue at an expected $1.8 million. This figure suggests that the company will have grown its revenue by a decent 31.39% when compared to the revenue of the same quarter a year ago. Regarding the consensus estimate…

WednesdayMay 22, 2024 9:00 am

More Details Emerge About Shock Firing of all Tesla Supercharger Employees

As the shocking news that Elon Musk, the CEO of Tesla Inc. (NASDAQ: TSLA), fired the entire 500-member Supercharger team is sinking in, more details have started emerging about the events leading up to the mass firings and the likely impact this may have on the industry. According to former Supercharger staff that Reuters interacted with, Musk reportedly had a meeting with Rebecca Tinucci, head of the charging staff. This meeting occurred just a day before Musk fired the entire team. This particular meeting seemed to be intended to brief Musk about the 15%–20% layoffs that the team had implemented…

MondayMay 20, 2024 9:00 am

Rivian Automotive Tells California Authorities More Job Cuts Are Imminent

Rivian Automotive Inc. (NASDAQ: RIVN) has written to state officials in California letting them know that it is going to let go more employees in the state. This revelation was contained in a letter set on April 24, 2024, to the state’s department of employment development. Scott Griffin, Rivian’s VP of people, indicated that the company is slated to layoff in excess of 120 employees, with 89 affected individuals from its Irvine operations while 28 job losses will occur at its Palo Alto operations. The letter states that the job cuts will happen starting in June, and they will be…

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