Baidu’s stock fell 8% despite AI progress, with Ernie Bot generating $91 million, or under 2% of revenue. High expectations and a Chinese equity rout impacted shares, trading below 10x forward earnings. Artificial intelligence stocks are highly sought after by
In less than a week, the stock market value of UK chip designer Arm Holdings nearly doubled as investors jumped on the artificial intelligence (AI) boom. According to financial results reported by ARM, the demand for AI-related technology is boosting
Big Tech’s investments in AI paid off in 2023, driving a 26% return in the S&P 500, with Apple, Microsoft, Meta, Amazon, Alphabet, and Nvidia as the highlights. Their Q4 earnings will reveal who’s profiting most from the AI boom,
Google is reportedly letting go of hundreds of employees as the company implements cost containment measures as well as focuses on AI development. A workers’ representative at parent company Alphabet revealed 1,000 have been let go so far. Part of
In a remarkable surge, Google’s stock prices soared by 5% following the announcement of its latest artificial intelligence breakthrough, Gemini. This new AI model, poised to rival the offerings from tech moguls such as OpenAI, Microsoft, and Meta, marks an
In a recently released quarterly report, tech behemoths Alphabet and Microsoft showed considerable profit upticks propelled by AI-powered cloud computing. Microsoft’s shares experienced a noticeable bump, rising by 3%, underscoring its dominating prowess in the cloud domain. Conversely, Alphabet, Google’s
With the European Union’s comprehensive Digital Services Act (DSA) coming into effect on Friday, August 25, more than a dozen tech titans, including Meta, Apple, and Google, are facing intense legal scrutiny in Europe. The EU’s new DSA carries new
Tech giant Google is allegedly manipulating search to favor liberals and tip elections, reports the New York Post. The company is using its virtual monopoly as a search engine to “elevate liberal views, stifle conservatives, and manipulate children,” according to
A metaverse ETF that bet big against Meta is closing down after recording a 30% loss in just 15 months. Meanwhile, Meta stock is up 96.7% on the year. No wonder Mark Zuckerberg’s personal wealth is rocketing. Punk is dead
Shares of Microsoft rose 8.5% in after hours trading after the tech giant reported better-than-expected financial results for the March quarter on Tuesday. Revenue rose 7% to $52.9 billion across the board, but the company’s AI-powered online search business grew
Alphabet CEO Sundar Pichai earned $226 million last year, but in January he e-mailed staff to announce a savage round of 12,000 job cuts. In the message, the recently enriched Pichai said his decimation of the workforce “weighs heavily on
In a move aimed at outdoing its competition in the AI research field, Google’s parent company Alphabet announced on Thursday that it will combine its two AI research divisions, Google Brain and DeepMind, into a new super-unit called Google DeepMind.
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