Search results for "big tech"

China’s Big Five Banks Post Healthy Results, Warn of Shaky Recovery

China’s Big Five lenders posted above 3.5% annual net profit growth this week, but warned that the foundations of the country’s recovery were “not yet solid”. China’s Bank of Communications Co Ltd (BoCom) and Bank of China (BoC) both posted just over 5% annual net profit growth on Thursday. Even higher figures came from the […]

Canada Steps up Clean Tech Investments in Budget to Compete With U.S

Canada on Tuesday sought to close competitive gaps with United States with a budget aimed at attracting investment in the low-carbon economy, including tax incentives for electric-vehicle (EV) manufacturers and expanding the electricity grid. The 2023-2024 fiscal document, delivered to the House of Commons, also has a “grocery rebate” for 11 million low-income Canadians, an […]

Biotech AI Startup Unlearn Adds $15 Million and OpenAI CTO to Board

Unlearn.AI, which has built a machine learning platform that creates “digital twin” profiles of patients in clinical trials, has raised $15 million to expand partnerships and accelerate regulatory approval, the company told Reuters on Tuesday. The investment from Radical Ventures and Wittington Ventures valued the startup at $265 million, the company said. Mira Murati, chief […]

What Is Generative AI, the Technology Behind OpenAI's ChatGPT?

Generative artificial intelligence has become a buzzword this year, capturing the public’s fancy and sparking a rush among Microsoft and Alphabet to launch products with technology they believe will change the nature of work. Here is everything you need to know about this technology. WHAT IS GENERATIVE AI? Like other forms of artificial intelligence, generative […]

Buoyant Zara Owner Inditex Invests in Tech and U.S. Expansion

Zara owner Inditex’s spring-summer 2023 collection has flown off the shelves over the past six weeks, the fast-fashion retailer said on Wednesday, in a sign that sales are keeping pace after a strong 2022. Inditex has extended its lead over Swedish rival H&M, in part thanks to a less price-sensitive customer base. As the cost […]

Tech Execs Race to Save Startups From 'extinction' After SVB Collapse

Technology executives, prominent venture capitalists and founders including OpenAI CEO Sam Altman raced this weekend to keep alive companies caught up in the collapse of Silicon Valley Bank. Friday’s dramatic failure of the bank, which focuses on tech startups, was the biggest since the 2008 financial crisis. It roiled global markets, walloped banking stocks and […]

Australian Tech Firms Say They Don't Have Material Exposure to SVB

Several Australian and New Zealand tech firms said on Monday they did not have material exposure to Silicon Valley Bank following the failure of the U.S. startup-focused lender SVB Financial Group last week. Australian Treasurer Jim Chalmers said the government was aware some Australian firms have been impacted but added the country’s “institutions are solid […]

India Tech Minister Says to Meet Startups on SVB Fallout

India’s state minister for technology said on Sunday he will meet start-ups this week to asses the impact on them of Silicon Valley Bank’s collapse, as concerns rise about the fallout for the Indian start-up sector. California banking regulators shut down Silicon Valley Bankon Friday after the a run on the lender, which had $209 […]

Tech Execs Race to Save Startups from 'extinction' After SVB Collapse

Technology executives, prominent venture capitalists and founders including OpenAI CEO Sam Altman raced this weekend to keep alive companies caught up in the collapse of Silicon Valley Bank. Friday’s dramatic failure of the bank, which focuses on tech startups, was the biggest since the 2008 financial crisis. It roiled global markets, walloped banking stocks and […]