Foxconn's Q1 profit to jump from low base, AI to power growth
TAIPEI (Reuters) - Taiwan's Foxconn, the world's largest contract electronics maker, is expected to report on Tuesday that first-quarter profit more than doubled on robust demand for artificial intelligence servers and after coming off a low base a...
9h ago
Australian regulator says Musk's X should not set limits of internet law
By Byron Kaye SYDNEY (Reuters) - Elon Musk's X has policies to take down harmful content when it chooses but should not be allowed to overrule Australian law in deciding what can be viewed there, a lawyer for the cyber regulator told a hearing into...
11h ago
Apple apologizes for iPad Pro 'Crush' ad, Ad Age says
(Reuters) - Apple apologized on Thursday after an advertisement for its latest iPad Pro model sparked criticism by showing an animation of musical instruments and other symbols of creativity being crushed, Ad Age magazine reported. "Our goal is to ...
12h ago
US lawmakers unveil bill to make it easier to restrict exports of AI models
WASHINGTON (Reuters) - A bipartisan group of lawmakers unveiled a bill late Wednesday that would make it easier for the Biden administration to impose export controls on AI models, in a bid to safeguard the prized U.S. technology against foreign ba...
13h ago
US set to impose tariffs on China EVs and other strategic sectors, Bloomberg reports
(Reuters) -The Biden administration is set to announce new China tariffs next week that target strategic sectors including electric vehicles, batteries and solar equipment, Bloomberg News reported on Thursday. The full announcement, scheduled for Tues...
14h ago
Australia targets social media with parliamentary probe
By Renju Jose SYDNEY (Reuters) - Australia announced on Friday that it would hold a parliamentary inquiry to look into the negative impacts of social media platforms, saying they have significant reach and control over what Australians see online, ...
14h ago
OpenAI plans to announce Google search competitor on Monday, sources say
By Anna Tong (Reuters) - OpenAI plans to announce its artificial intelligence-powered search product on Monday, according to two sources familiar with the matter, raising the stakes in its competition with search king Google. The announcement date,...
17h ago
Gen Digital beats quarterly revenue estimates
(Reuters) - Cybersecurity firm Gen Digital beat Wall Street's fourth-quarter revenue estimate on Thursday, as customers spend more on cybersecurity networking solutions to combat sophisticated online threats. Demand for Gen Digital's cybersecurity ...
19h ago
Exclusive-Chinese EV maker Zeekr prices US IPO at top of range to raise $441 million, source says
By Echo Wang NEW YORK (Reuters) - Chinese electric vehicle maker Zeekr Intelligent Technology priced its U.S. initial public offering (IPO) at the top of its indicated range on Thursday, raising $441 million, a person familiar with the matter said....
20h ago
Explainer-What risks do advanced AI models pose in the wrong hands?
WASHINGTON (Reuters) - The Biden administration is poised to open up a new front in its effort to safeguard U.S. AI from China and Russia with preliminary plans to place guardrails around the most advanced AI models, Reuters reported on Wednesday. ...
May 09, 2024
TikTok to label AI-generated images, video from OpenAI and elsewhere
By Stephen Nellis (Reuters) - TikTok said on Thursday it would start using a technology aimed at helping it label images and video generated by artificial intelligence and uploaded to the video sharing service. TikTok said it would adopt "Content C...
May 09, 2024
Arm shares fall as tepid forecast takes shine off AI optimism
(Reuters) - Shares of Arm Holdings fell 8% in premarket trading on Thursday as the chip designer's downbeat annual revenue forecast cooled some of the enthusiasm around the stock following its AI-powered jump in recent months. Bets that Arm will be...
May 09, 2024
Canada fines Binance $4.38 million for money laundering violations
(Reuters) - Canada's anti-money laundering agency on Thursday said it had imposed a nearly C$6 million ($4.38 million) fine on cryptocurrency exchange Binance for violating the money laundering and terrorist financing laws. The Financial Transactio...
May 09, 2024
SMIC misses Q1 profit estimates
By Liam Mo and Brenda Goh BEIJING (Reuters) - Semiconductor Manufacturing International Corp reported first-quarter net income of $71.79 million on Thursday, missing analysts' expectations. Unaudited profit attributable to owners of China's largest...
May 09, 2024
Roblox cuts annual bookings forecast on muted player spending
By Zaheer Kachwala (Reuters) - Roblox cut its annual bookings forecast on Thursday, in a sign that people were dialing back on spending within its video-gaming platform amid an uncertain economic outlook and elevated levels of inflation. The compan...
May 09, 2024
Tower Semiconductor Q1 revenue falls on weak demand
(Reuters) - Israel-based contract chipmaker Tower Semiconductor reported a 7% decline in first-quarter revenue on Thursday reflecting muted demand from the industrial and automotive sectors. Over the past few quarters, semiconductor firms are deal...
May 09, 2024
Robinhood jumps as retail trading rebound powers record quarter
(Reuters) - Robinhood Markets jumped in premarket trading on Thursday after reporting record first-quarter revenue and profit thanks to mom-and-pop investors returning to its commission-free platform to trade cryptocurrencies. Retail trading has b...
May 09, 2024
Explainer-How dependent is China on US artificial intelligence technology?
By Josh Ye HONG KONG (Reuters) - The Biden administration plans to put guardrails on U.S.-developed artificial intelligence (AI) models that power popular chatbots like ChatGPT to safeguard the technology from countries such as China and Russia, Re...
May 09, 2024
Exclusive-Huawei's new phone uses more China-made parts, memory chip
By David Kirton and Brenda Goh SHENZHEN/SHANGHAI (Reuters) - Huawei's latest high-end phone features more Chinese suppliers, including a new flash memory storage chip and an improved chip processor, a teardown analysis showed, pointing to the progr...
May 09, 2024
Factbox: What is in Huawei's new Pura 70 smartphones
(Reuters) - Huawei's new high-end Pura 70 smartphone series quickly sold out after it was launched last month with analysts touting it as another Apple iPhone challenger and adding to signs of how the Chinese firm is beating back against U.S. curbs...
May 09, 2024
Disney, Warner Bros to offer streaming bundle of Disney+, Hulu and Max
LOS ANGELES (Reuters) -Walt Disney and Warner Bros Discovery will offer a bundle of the Disney+, Hulu and Max streaming services in the United States starting this summer, the companies said in a statement on Wednesday. Customers will be able to sign u...
May 08, 2024
Bumble beats first-quarter revenue estimates, shares surge
(Reuters) -Bumble beat Wall Street estimates for first-quarter revenue on Wednesday, a sign that its push for attracting payers at its dating apps is paying off. Shares of the Austin, Texas-based company, which offers dating apps such as Bumble, Badoo,...
May 08, 2024
US confronts China over Volt Typhoon cyber espionage
By Zeba Siddiqui SAN FRANCISCO (Reuters) - U.S. officials confronted the Chinese government in Beijing last month about a sweeping cyber espionage campaign through which Chinese hackers have broken in to dozens of American critical infrastructure o...
May 08, 2024
Instacart forecasts upbeat current-quarter, taps Uber veteran as CFO
By Granth Vanaik (Reuters) -Instacart forecast its second-quarter gross transaction value (GTV) and core profit above estimates on Wednesday, helped by a surge in grocery orders as well as higher fees for the advertisements it showcases on its grocery ...
May 08, 2024
Arm's quarterly revenue forecast beats Street; annual rev guidance misses
By Max A. Cherney and Stephen Nellis (Reuters) -Chip designer Arm Holdings gave a fiscal first-quarter revenue forecast on Wednesday that beat Wall Street's expectations, but its full-year forecast was below expectations. Shares of Arm fell about 4% in...
May 08, 2024