US opens probe into Alphabet's Waymo over performance of self-driving vehicles
WASHINGTON (Reuters) - U.S. auto safety regulators said Tuesday they have opened an investigation into the performance of Alphabet's Waymo self-driving vehicles after reports of its robotaxis exhibiting driving behavior that potentially violated tr...
7h ago
China's Tencent posts strong revenue growth as ad sales, business services shine
By Josh Ye HONG KONG (Reuters) -China's Tencent Holdings posted a 6% rise in first-quarter revenue on Tuesday, beating analyst expectations, as business services and advertising sales deliver strong revenue growth. The world's largest video gam...
7h ago
TSMC says work on European plant on track to start in fourth quarter
AMSTERDAM (Reuters) - Taiwanese chipmaker TSMC is planning to start construction of its European facility in the fourth quarter of 2024, it said on Tuesday. At a conference in the Netherlands, TSMC's head of European operations Paul de Bot said wor...
8h ago
Rakuten logs $213 million quarterly loss as mobile losses negate fintech growth
TOKYO (Reuters) - Japan's Rakuten Group on Tuesday logged an operating loss of 33.3 billion yen ($213 million) in the January-March quarter, its 15th straight quarter in the red as losses in its mobile unit weighed on robust growth in its fintech b...
10h ago
Apple supplier Foxconn's first-quarter profit jumps 72% but misses forecasts
TAIPEI (Reuters) -Apple supplier Foxconn reported a 72% rise in first-quarter profit, boosted by strong demand for AI servers and coming off a low base from the period a year earlier, but the growth was lower than expected. The Taiwanese company, the w...
10h ago
Japan sees need for sharp hike in power output by 2050 to meet demand from AI, chip plants
TOKYO (Reuters) - Japan envisages the need for electricity output to rise 35% to 50% by 2050 due to growing demand from semiconductor plants and data centres backing artificial intelligence (AI), the government has forecast. Power output should gro...
13h ago
Sony restructures leadership of key games business
By Sam Nussey TOKYO (Reuters) - Sony announced two company executives would take new leadership roles at its games unit with responsibility for the technology and content sides of the business. Hideaki Nishino will become CEO of Sony Interactive En...
15h ago
Rumble sues Google over digital advertising practices
WASHINGTON (Reuters) - Video sharing platform Rumble said on Monday it has sued Google, arguing the tech giant has engaged in anticompetitive practices across its range of digital advertising products and sought damages in excess of $1 billion. Th...
17h ago
VC firm Accel raises $650 million to invest in AI, cybersecurity startups
By Supantha Mukherjee STOCKHOLM (Reuters) - Venture capital firm Accel said on Tuesday it has raised a $650 million fund to invest in early-stage companies in Europe and Israel with a focus on artificial intelligence and cybersecurity. The new fund...
17h ago
Games Global Ltd withdraws US IPO plan
(Reuters) - Games Global, the UK-based maker of online casino-styled games, withdrew its plan for an initial public offering in the United States on Monday. (Reporting by Arasu Kannagi Basil in Bengaluru; Editing by Shounak Dasgupta)
20h ago
Artificial intelligence hitting labour forces like a "tsunami" - IMF Chief
ZURICH (Reuters) - Artificial intelligence is hitting the global labour market "like a tsunami" International Monetary Fund Managing Director Kristalina Georgieva said on Monday. Artificial intelligence is likely to impact 60% of jobs in advanced e...
22h ago
OpenAI to announce ChatGPT product improvements Monday
By Anna Tong (Reuters) - ChatGPT-maker OpenAI plans to announce on Monday updates to its flagship chatbot as its most advanced AI model GPT-4, which "feels like magic," CEO Sam Altman said on X on Friday. The company said on X that it will hold a l...
23h ago
SoftBank's $184 billion portfolio key to beating AI rivals, says Vision Fund CFO
By Anton Bridge TOKYO (Reuters) - Japanese technology investor Softbank Group believes it has an advantage over smaller rivals because it can leverage its entire $183.6 billion portfolio to help it build an ecosystem of firms that can employ artifi...
May 13, 2024
Yellen to tout broadband investments in trip to rural Virginia
By Andrea Shalal WASHINGTON (Reuters) - U.S. Treasury Secretary Janet Yellen will travel to Stafford County, Virginia on Monday to tour a broadband infrastructure project funded by the $1.9 trillion COVID-era American Rescue Plan and underscore the...
May 13, 2024
Intel appoints industry veteran Kevin O'Buckley to lead foundry unit
(Reuters) -Chipmaker Intel said on Monday it has appointed industry veteran Kevin O'Buckley to lead its manufacturing unit. O'Buckley, who will succeed Stuart Pann and report to CEO Pat Gelsinger, has been appointed as senior vice president and general...
May 13, 2024
Apple defeats union campaign at New Jersey retail store
By Daniel Wiessner (Reuters) - Apple employees at a New Jersey retail store have voted against joining a union, potentially stifling momentum for a push to organize the tech giant's workforce nationwide. Workers at the store in Short Hills, New Jer...
May 13, 2024
Tim Draper leads $3.5 million fundraise for six-employee startup behind bitcoin lending
By Niket Nishant (Reuters) - Zest Protocol, a bitcoin lending startup with just six employees, has secured $3.5 million in a funding round led by billionaire investor Tim Draper. Besides venture capital firm Draper Associates, nearly a dozen inves...
May 13, 2024
GameStop jumps after 'Roaring Kitty' returns following three-year hiatus
(Reuters) - Shares of GameStop jumped 40% in premarket trading on Monday after social media persona "Roaring Kitty," whose online posts had sparked a trading frenzy in the videogame retailer in 2021, returned on X.com after three years. Keith Gill,...
May 13, 2024
Cinven to explore $3 billion sale of software maker Jaggaer, sources say
By Milana Vinn NEW YORK (Reuters) - Private equity firm Cinven is preparing to explore a sale of Jaggaer that it hopes will value the maker of supply chain software at about $3 billion, including debt, according to people familiar with the matter. ...
May 13, 2024
Intel nears deal with Apollo for $11 billion Ireland partnership, WSJ reports
(Reuters) - Intel is in advanced talks for a transaction in which Apollo Global Management would supply more than $11 billion to help build a chip plant in Ireland, the Wall Street Journal reported on Monday. (Reporting by Zaheer Kachwala in Benga...
May 13, 2024
EU says Booking must comply with strict tech rules, investigates X
PARIS (Reuters) - The European Commission on Monday said it had designated Booking as a so-called "gatekeeper" under the Digital Markets Act (DMA) while it also opened a market investigation into social media network X to further determine the plat...
May 13, 2024
Tencent Music beats quarterly revenue estimates
(Reuters) - China's Tencent Music Entertainment Group beat first-quarter revenue estimates on Monday, thanks to steady growth in paid subscriptions and advertising services on its Spotify-like music streaming platform. The audio entertainment platf...
May 13, 2024
US, China meet in Geneva to discuss AI risks
By Michael Martina and Trevor Hunnicutt WASHINGTON (Reuters) - The U.S. and China will meet in Geneva to discuss advanced artificial intelligence on Tuesday, U.S. officials said, stressing that Washington's policies would not be up for negotiation ...
May 13, 2024
South Korea signs agreement with AliExpress, Temu on product safety
SEOUL (Reuters) -South Korea's government signed an agreement on Monday with Alibaba's AliExpress and PDD Holdings' Temu to promote product safety, the Korea Fair Trade Commission (KFTC) said. The agreement comes after heightened regulatory scrutiny of...
May 13, 2024
SoftBank swings to Q4 profit of $2.1 billion
TOKYO (Reuters) - Japanese technology giant SoftBank Group swung to a quarterly profit on Monday, reporting a net profit of 328.9 billion yen ($2.11 billion) for the January-March period. The Vision Fund investment unit booked an investment loss of...
May 13, 2024