Alphabet’s stock has seen a 25.5% increase in value this year, outpacing industry growth due to strong performance in its services segment driven by Search, YouTube, Android, Pixel, and web apps. Revenue from Google’s services business increased by 13.6% in the first quarter of 2024 to $70.4 billion, making up 87.4% of total revenue. Google … Read more
Moody National Bank Trust Division decreased its stake in International Business Machines Co. (IBM) by 1.1% in the first quarter, selling 87 shares and owning 7,807 shares. Other investors also made changes to their positions in IBM, with increases seen in various stakes. IBM’s stock performance has shown a 1-year low of $129.18 and a … Read more
Former Qualcomm XR division head, Hugo Swart, has joined Google to lead the company’s XR ecosystem technology and strategy efforts. The announcement was made on LinkedIn a few months ago, expressing excitement for the future and gratitude for the opportunity from Shahram Izadi. Swart was instrumental in Qualcomm’s Snapdragon XR advancements before leaving in February, … Read more
According to the Bureau of Labor Statistics, the US economy added 272,000 nonfarm jobs in May, exceeding expectations. As a result, US stocks such as (^GSPC, ^DJI, ^IXIC) have started to decline. GameStop (GME) also experienced a significant drop in premarket trading, losing nearly 20% after announcing plans to sell up to 75 million Class … Read more
Former Google employee Jack Yu is in the process of raising $500 million for a fund that is connected to Alphabet’s research and development organization known as X. Yu, who previously worked at Google’s parent company Alphabet, is looking to secure investments for this fund which is aimed at supporting ambitious and innovative projects. This … Read more
Broadcom Inc. is gaining attention as an undervalued competitor in the AI semiconductor market, known for its expertise in ASICs. Liontrust Asset Management has highlighted Broadcom’s significant presence in the AI chip industry, generating over $1 billion in revenue and ranking second in its sector. Despite this, Broadcom’s stock has risen by 26% since the … Read more
Microsoft’s cloud business continues to grow steadily, with an impressive 21% increase overall and a notable 31% increase in its Azure division, driven in part by advancements in artificial intelligence. The company’s sales have surged to $180.395 million over the last nine months, showcasing its commitment to AI, especially generative AI which is seeing practical … Read more
The departure of Adam Selipsky from Amazon Web Services (AWS) was announced last week, amidst increased competition in the cloud unit from companies deploying artificial intelligence services. Analysts have noted that Amazon was caught off guard by the rise of generative AI. Selipsky took over as CEO of AWS in 2021, succeeding Andy Jassy who … Read more
Amazon’s cloud computing division AWS has announced a significant investment of €15.7 billion ($17 billion) to expand its data centers in the Spanish region of Aragon, extending its commitment to the country until 2033. This move aligns with AWS’s strategic expansion efforts across Europe, following similar initiatives in Germany and France. The investment in Aragon … Read more
In a recent development, IT firm HCLTech announced its acquisition of certain assets from Hewlett Packard Enterprise’s Communications Technology Group (CTG) for $225 million, equivalent to around Rs 1,874 crore, in an all-cash deal. This agreement will involve the transfer of approximately 1,500 employees and 700 contractors with expertise in engineering services for the telecommunications … Read more