After a prolonged period of drought in the tech IPO market on Wall Street, this week marked a significant breakthrough with the market debuts of Reddit and Astera Labs. These two companies, although operating in different sectors of the technology industry, were the first prominent venture-backed tech firms to go public in the U.S. since
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The Justice Department’s top antitrust official recently stated that Apple shareholders should push the company to “compete on the merits.” This call for fair competition comes in the wake of a lawsuit filed by the government against Apple for alleged anticompetitive practices. Jonathan Kanter emphasized on CNBC’s “Squawk Box” that competition based on merit is
The potential purchase of TikTok by Kevin O’Leary and his syndicate for a starting bid of $20 billion to $30 billion marks a significant valuation cut of up to 90% from the company’s last funding round. This drastic reduction in valuation raises questions about the true value of the platform and the implications for a
Elon Musk’s startup, Neuralink, made headlines once again with a groundbreaking live demonstration showcasing the potential of brain-computer interfaces (BCI) in the field of healthcare. The video released by the company featured Noland Arbaugh, a 29-year-old quadriplegic patient who became the first human to be implanted with Neuralink’s device. This innovative technology aims to provide
Saudi Arabia’s sovereign wealth fund is reportedly in talks with American venture capital firm Andreessen Horowitz to create a massive $40 billion fund dedicated to investing in artificial intelligence. This potential partnership marks a significant move towards diversifying Saudi Arabia’s economy, reducing its dependency on oil revenues. The Public Investment Fund (PIF) of Saudi Arabia,
Equinix, a prominent $80 billion data center provider, has recently come under fire from Hindenburg Research for allegedly misleading investors through questionable financial practices. According to the report, Equinix’s management has been accused of presenting an “AI pipe dream” to shareholders while manipulating key metrics to inflate profitability. This has raised concerns about the company’s
In a move to bolster semiconductor manufacturing within the United States, the White House has announced that Intel has been awarded up to $8.5 billion in CHIPS Act funding. This funding is part of a broader effort by the Biden administration to bring chip production back to U.S. soil and reduce reliance on foreign manufacturers.
Apple CEO Tim Cook recently posted on his official Weibo account that he is currently in Shanghai. The post included a video of Cook taking a stroll in one of the city’s popular tourist districts and having breakfast with Chinese actor Zheng Kai. This visit comes just before the opening of a new retail store