As growth in sales of cloud services slow down, Amazon is being hurt the most by the situation. Dan Gallagher reports for The Wall Street Journal: The tech slowdown is finally hitting the cloud. The largest player might be paying the biggest price. Amazon AMZN -1.86%decrease; red down pointing triangle.com, Microsoft Corp. MSFT 0.68%increase; green up pointing triangle and Google all reported disappointing news for their respective cloud services businesses in their December quarter reports. For Amazon and Google-parent Alphabet Inc., GOOG -7.49%decrease; red down pointing triangle revenue … [Read more...]
AI SEARCH WAR BEGINS: Google and Microsoft Join AI Battle
The battle for AI-powered internet search has begun. ChatGPT's success has ignited a hostile response from the current search powerhouse, Google, and Microsoft, which owns the Bing search engine. Richard Waters reports for the Financial Times: The internet search wars are back. The emergence of AI systems capable of generating direct textual answers to questions — most notably the ChatGPT chatbot created by San Francisco-based OpenAI — has opened the first new front in the battle for search dominance since Google fended off a concerted challenge from Microsoft’s Bing more than a decade … [Read more...]
Tim Cook Tied Apple Tightly to China
In his previous role as Chief Operating Officer, current Apple CEO Tim Cook tied the company's fate to China by developing a complex supply chain within the country. Patrick McGee reports in the Financial Times: Over the past decade and a half, Apple has been sending its top product designers and manufacturing design engineers to China, embedding them into suppliers’ facilities for months at a time. These Apple employees have played integral roles co-designing new production processes, overseeing the minutiae of manufacturing until things were up and running, and keeping close tabs on … [Read more...]
Can Amazon Mature Successfully?
Amazon, a tech and retail giant, has, according to Dan Gallagher in The Wall Street Journal, come near to the end of its ability to remain a "growth" company. He writes: Andy Jassy’s first full year running Amazon AMZN 0.28%increase; green up pointing triangle has been one for the books—and not in a good way. A macroeconomic slowdown coming just as Amazon has been trying to absorb a major expansion of its fulfillment capacity has proved especially unfortunate for the e-commerce company. When it reports full results for 2022 later this month, Amazon is expected to show its first-ever year … [Read more...]
CHIPS: From Shortage to Surplus
A year ago, everyone was talking about chip shortages and the kinks they were causing in supply chains. Now, there are more semiconductor chips than needed, and surpluses are building up. Asa Fitch reports for The Wall Street Journal: The world is now awash in chips. The oversupply marks a sharp turnaround from a global shortage during two years of supercharged demand. Consumer appetite for electronics has weakened against a backdrop of rising interest rates, a falling stock market and recession fears. Chip inventories are swelling, mirroring what is happening in the wider economy where … [Read more...]
Finally There’s a Way to Sell Your Own Data
After years of everyone else making money from your data, now you can sell your own. Caden Inc. wants to pay users for their personal data. Megan Graham reports for The Wall Street Journal: A startup backed by an internet-search pioneer wants to give cash to users who share personal data including what they buy or watch on mobile apps. The startup, Caden Inc., operates an app by the same name that helps users download their data from apps and services—whether that’s Amazon.com Inc. or Airbnb Inc. —into a personal “vault.” Users who consent to share that data for advertising purposes can … [Read more...]
Bargain Buyers Picking Over the Bones of the Secondary Technology Market
Secondary trading in shares of technology companies that haven't yet gone public with an IPO was pretty much nonexistent from March to July. Now, some traders are beginning to pick over the bones of the market, looking for deals. Julie Steinberg and Ben Dummett report for The Wall Street Journal: Many startups held on to lofty valuations for months after the technology-heavy Nasdaq Composite began to sell off in November 2021. However, the market’s resilience started to wane this summer, as venture-capital firms and hedge funds began to unload to make up for losses in their public … [Read more...]
IBM Charts a Course to Lead the Quantum Future
IBM has developed a plan it hopes will put its technology at the forefront of quantum computing. Isabelle Bousquette reports for The Wall Street Journal: International Business Machines Corp. announced Wednesday that it has created a more powerful quantum computing chip, the next step in its yearslong effort to build quantum machines capable of delivering business value to companies. The 433-qubit Osprey chip, unveiled at IBM’s annual Quantum Summit in New York, has more than three times as many qubits as the 127-qubit Eagle chip it introduced last year. But IBM is aiming to steadily … [Read more...]
WHERE’S SHERYL? Meta Revenues Decline Again
In the second quarterly financial report since Sheryl Sandberg left Meta Platforms (formerly Facebook), revenues again declined. Salvador Rodriguez reports for The Wall Street Journal: Facebook parent Meta Platforms Inc. META -24.55%decrease; red down pointing triangle posted its second revenue decline in a row, as the social-media giant wrestles with a vortex of challenging business conditions that have combined to shave more than half a trillion dollars from its market value so far this year. The company reported quarterly revenue of $27.7 billion, down more than 4% from a year ago, … [Read more...]
The Robots Are Taking the Jobs
In a world of scarce labor, companies are increasingly relying on robots to perform work that used to be done by humans. The Wall Street Journal's Christopher Mims reports: A new wave of robots is arriving—and, in a world short of workers, business leaders are more eager to welcome them than ever. A combination of hard-pressed employers, technological leaps and improved cost effectiveness has fueled a rapid expansion of the world’s robot army. A half-million industrial robots were installed globally last year, according to data released Thursday by the trade group International Federation … [Read more...]
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