Tech
- BusinessBBC
Meta shares sink after it reveals spending plans
The firm said expenses would be higher this year as it spends heavily on artificial intelligence.
2-min read - BusinessReuters
SK Hynix expects full chip recovery after Q1 earnings surprise on AI boom
SEOUL (Reuters) -South Korea's SK Hynix Inc said it expected a full recovery in memory chips on AI demand, posting its highest profit in nearly two years on sales of advanced DRAM chips with high bandwidth memory (HBM) for use in generative AI chipsets. "The memory market is entering into full recovery cycle with ongoing strength of AI demand," SK Hynix said.
3-min read - BusinessBBC
US TikTok ban would be 'devastating', UK firms warn
UK businesses using TikTok say they could see a significant drop in sales if the app is banned in the US.
3-min read - PoliticsThe Hill
Biden campaign to stay on TikTok after president signs bill that could ban app
The Biden campaign plans to continue using TikTok to reach voters and spread its message even after the president signed legislation that could lead to a ban on the popular app several months down the road. A Biden campaign official told The Hill that TikTok “is one of many places we’re making sure our content…
1-min read - BusinessReuters
Teradyne sees strong Q2 results on steady chip-testing equipment demand
The growing demand for memory and networking chips driven by increased appetite for artificial intelligence applications is benefiting semiconductor-testing equipment suppliers like Teradyne. "Strength in memory and computing is driving stronger than expected performance in the first half of the year, however visibility beyond the second quarter remains limited," said CEO Greg Smith.
1-min read - BusinessReuters
Cisco says hackers subverted its security devices to spy on governments
Technology firm Cisco Systems said that hackers have subverted some of its digital security devices to break in to government networks globally. In a blog post published on Wednesday, the company said its Adaptive Security Appliances - pieces of equipment that roll several different digital defense functions into one - had previously unknown vulnerabilities that had been exploited by a group of hackers they called "UAT4356." The blog post described the group as a "sophisticated state-sponsored
1-min read - BusinessReuters
Microsoft-backed Rubrik prices IPO above range at $32 per share, source says
Rubrik, the cybersecurity software startup that counts Microsoft among its investors, priced its initial public offering at $32 per share on Wednesday above its indicated price range, according to a person familiar with the matter. Rubrik upsized its IPO to raise $752 million after selling 23.5 million shares, the source said, requesting anonymity as the discussions are confidential. It infers a valuation of $5.6 billion on Palo Alto, California-based Rubrik.
1-min read
