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Tech
Roku reports bigger-than-expected quarterly loss on stiff competition
(Reuters) -Roku reported a bigger-than-expected fourth-quarter loss on Thursday, as it grappled with intense competition from deep-pocketed rivals and weak customer spending on video streaming, sending its shares down 15% in extended…
Equinix expects strong adjusted core earnings on data center demand
(Reuters) - Equinix on Wednesday forecast adjusted core earnings for fiscal 2024 above market expectations on signs of strong demand for its data center services as more companies opt for cloud infrastructure.
Shares of the company rose…
Daniel Loeb’s Third Point slashes stake in Uber
(Reuters) - Daniel Loeb's hedge fund, Third Point, reduced its stake in ride-share platform Uber by about 76% to 1 million shares, a filing with the U.S. SEC showed on Wednesday.
(Reporting by Akash Sriram in Bengaluru; Editing by Shinjini…
Meta paid about $500 million to Broadcom for components in 2023
(Reuters) - Meta Platforms paid about $500 million to Broadcom in 2023 related to its deal to purchase components and services such as design and engineering, the Facebook-parent said in a filing on Wednesday.
(Reporting by Kannaki Deka in…
Tinder, other Match dating apps encourage compulsive use, lawsuit claims
(Reuters) -Match Group was sued on Wednesday in a proposed class action claiming that its dating apps Tinder, Hinge and The League are designed to addict users, generating more profit for the company, rather than help them establish…
LG Energy signs 2nd agreement with WesCEF to expand lithium supply
(Reuters) - South Korea's LG Energy Solution signed their second offtake agreement with Australia's Wesfarmers Chemicals, Energy and Fertilisers (WesCEF) on Tuesday to expand its supply chain for lithium procurement.
As a part of this…
OpenAI gives ChatGPT the ability to remember facts from your chats
The next time you tell ChatGPT that you’re allergic to avocados or prefer all meeting notes to be formatted in bullet points, the chatbot might be able to remember those details indefinitely.
OpenAI is testing an option for users to ask…
Lyft’s cost cuts to drive positive free cash flow in 2024; shares surge
(Reuters) -Lyft beat estimates for quarterly profit on Tuesday and said it would generate positive free cash flow for the first time in 2024, as it benefits from cost cuts and pushes back against competition from larger rideshare rival…
Nvidia market cap threatens Alphabet after overtaking Amazon
(Reuters) - Nvidia was on the verge of overtaking Alphabet as Wall Street's third most valuable company on Tuesday as the dominant AI chipmaker ended the day with a market capitalization above Amazon's for the first time in two decades.…
Bell Canada to cut 4,800 jobs, cites ‘unsupportive’ government among factors
OTTAWA (Reuters) -Bell Canada said on Thursday it was slashing 4,800 jobs to rein in costs that the media and telecom company blamed on declining legacy phone and news business and "unsupportive" government and regulatory decisions.
Bell's…