As customers withdrew billions of dollars from crypto exchange FTX one frantic Sunday this month, founder Sam Bankman-Fried worked the phones in a futile bid to raise $7 billion in emergency funds. Hunkered in his Bahamas apartment, Bankman-Fried toiled through the night, calling some of the world’s biggest investors, including Sequoia Capital, Apollo Global Management […]
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Berkshire Hathaway Inc said it bought more than $4.1 billion of stock in Taiwan Semiconductor Manufacturing, a rare significant foray into the technology sector by billionaire Warren Buffett’s conglomerate. The news sent shares in TSMC soaring, closing up 7.9 percent in Taiwan on Tuesday, as it boosted investor sentiment for the world’s largest contract chipmaker, […]
Elon Musk’s resume is ever-growing. At 51 years old, his finger is in many pies: SpaceX, Tesla, Inc, Neuralink, OpenAI, the Musk Foundation, and, most recently, Twitter, Inc. The Elon Musk Updates tells us one thing for sure: he currently is the most interesting man in the cyberspace. From selling shares worth billions of dollars […]
Amazon.com Inc is planning to lay off around 10,000 employees in corporate and technology roles beginning this week, a person familiar with the matter said on Monday, in what would amount to its biggest such reduction to date. The cuts, earlier reported by the New York Times, would represent about 3 percent of Amazon’s corporate […]
Tensions between China and the United States are pushing some manufacturer companies to talk about moving some of their supply chain away from Taiwan as well, although it’s “incremental,” the head of Taiwan’s most important smartphone chip design firm told Reuters over the weekend. Some of the “very large (equipment manufacturers) will require their chip […]
Meta’s share price is collapsing, and the social media giant is on a major downturn. The thus far ruling social media giant of our time, the owner of Instagram, Facebook, and WhatsApp, is experiencing the worst 2 consecutive quarters of its existence. The Meta stock has collapsed and users are still fleeing the platforms, meanwhile […]
5G networks are still rolling out globally. Many regions still operate using 4G and, in some cases, 3G networks. It might seem a bit early to talk about 6G networks when you factor in that not everyone uses 5G. In hindsight, technology strives to push the envelope. 6G vision for 2030 will take time to […]
Crypto giant Binance signed a nonbinding agreement on Tuesday to buy FTX’s non-U.S. unit to help cover a “liquidity crunch” at the rival exchange, in a stunning bailout that raised fresh concerns among investors about cryptocurrencies. The deal between high-profile rivals Sam Bankman-Fried, FTX’s CEO, and Binance CEO Changpeng Zhao came as speculation about FTX’s […]
The cryptocurrency industry has spent millions of dollars on U.S. midterm election races during a year of heavy losses and upheaval in the sector, which hopes to gain sway among legislators as Congress debates tighter regulation of digital assets. Crypto evangelists view 2023 as a critical year for regulation, with Congress expected to make progress […]
Apple is one of the biggest names in the tech industry. It is a known fact that even though the brand is US based, the production is heavily based in China. This is a general practice among big tech names. The labor cost in China is cheaper, and most materials are available there. It makes […]