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US stock futures hit record peaks as Meta, Microsoft results get AI boost - The Economic Times
Economic Times
·
23d ago
Medial
U.S. stock futures surged after strong earnings from Meta and Microsoft highlighted the positive impact of AI investments. Meta's forecasted revenue saw significant gains due to AI-enhanced advertising, while Microsoft reported impressive cloud computing sales and set a $30 billion capital spending outlook. Alongside, other tech giants like Amazon and Nvidia experienced stock increases. These results boosted investor confidence, despite ongoing trade tensions and Federal Reserve policy announcements influencing market dynamics.
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Apple leads surge in global tech shares after Trump tariff relief - The Economic Times
Economic Times
·
16d ago
Medial
Global tech shares, led by Apple, surged after President Trump's tariff relief announcement, exempting major chipmakers committed to U.S. manufacturing. Apple's stock rose due to its $100 billion U.S. investment pledge. Chipmakers like AMD, Intel, and Nvidia experienced gains, and TSMC hit record highs. However, the Philippines and Malaysia expressed concerns about potential impacts on their semiconductor exports, seeking clarity on the new tariffs, which could severely affect their economies.
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Aadhaar authentications cross 2 billion in June - The Economic Times
Economic Times
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1m ago
Medial
In June, Aadhaar authentications surpassed 2.29 billion, a 7.8% year-on-year increase, totaling over 154 billion since inception. Face authentications, utilizing AI/ML tools, hit a record 158.7 million, significantly up from last year. Aadhaar e-KYC transactions also reached 394.7 million, enhancing service delivery and business efficiency across sectors. The AI-based face authentication works on both Android and iOS, benefiting over 100 entities in various industries, including government and financial services.
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In pursuit of godlike technology, Mark Zuckerberg amps up the AI race - The Economic Times
Economic Times
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1m ago
Medial
In April, Meta's AI efforts, led by CEO Mark Zuckerberg, hit a setback as their new model underperformed. Zuckerberg quickly shifted strategies by demoting leaders, investing $14.3 billion in Scale AI, and intensifying recruitment, offering substantial deals to talent from rivals like OpenAI. Meta expanded its AI team, focusing on superintelligence to compete with leaders like Google and OpenAI. Despite challenges, Meta remains committed, aggressively pursuing advancements in the AI landscape.
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Meta takes around 3% stake in Ray-Ban-parent EssilorLuxottica, source says - The Economic Times
Economic Times
·
1m ago
Medial
Meta Platforms has acquired a nearly 3% stake in eyewear maker EssilorLuxottica, investing around 3 billion euros to enhance its AI-powered wearable technology offerings. This move supports Meta's strategy to boost AI infrastructure and attract new users. Meta's collaboration with Oakley on AI-powered smart glasses expands on the success of Ray-Ban Meta glasses. EssilorLuxottica aims to increase production capacity for smart glasses and explore further partnerships with Meta.
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Meta signs $10 billion-plus cloud deal with Google - The Economic Times
Economic Times
·
1d ago
Medial
Meta has entered a $10 billion cloud computing deal with Google over six years, leveraging Google’s datacenter servers and services to advance its AI initiatives. Aiming for “personal superintelligence,” Meta’s CEO Mark Zuckerberg emphasizes significant AI infrastructure investments. This agreement marks one of Google Cloud's largest deals and aligns with Meta’s strategic focus on AI, amidst fierce industry competition. Despite robust financial results, Meta faces questions about its AI future.
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US tech titan earnings rise on AI as economy roils - The Economic Times
Economic Times
·
22d ago
Medial
Tech giants Amazon, Apple, Meta, and Microsoft surpassed earnings expectations this quarter, driven by robust AI investments. Microsoft reached a $4 trillion valuation, while Amazon reported a 35% profit increase. Cloud and AI developments propelled Microsoft's Azure growth. Meta's revenue jumped 22%, focusing on AI superintelligence. Apple's earnings were boosted by iPhone sales despite US tariffs. These companies are heavily investing in AI, viewing it as pivotal for business transformation and future growth.
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Microsoft breaks from 30-year tradition of naming rivals in filings - The Economic Times
Economic Times
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20d ago
Medial
Microsoft has stopped naming its competitors in its annual report after 30 years, opting to focus on broader market trends. This practice shift reflects the fast-moving nature of tech markets. While Microsoft no longer lists direct rivals like Apple or IBM, its executives continue acknowledging competition in other settings. Other companies like Amazon and Alphabet have similarly ceased naming competitors, contrasting with Apple, Meta, and Nvidia, who still do.
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SoftwareOne India in pact with Microsoft launches solutions for small enterprises - The Economic Times
Economic Times
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1m ago
Medial
SoftwareOne India, in partnership with Microsoft, launched 'SaMBIT,' a curated set of Microsoft solution bundles aimed at assisting small and medium businesses (SMBs) in India to boost productivity, enhance security, and confidently adopt AI. SaMBIT offers affordable, scalable, and business-aligned solutions, addressing communication and cybersecurity needs. This initiative reflects SoftwareOne's commitment to empowering Indian SMBs, bridging the technology access gap, and supporting their growth and innovation in the digital age.
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Bill Gates’ vision no longer enough for Microsoft’s future: CEO Satya Nadella - The Economic Times
Economic Times
·
11d ago
Medial
Microsoft CEO Satya Nadella announced a shift in the company's vision, moving from Bill Gates’ original "software factory" concept to an "intelligence engine" focused on artificial intelligence. Nadella emphasized the need to build tools empowering users to create their own intelligent solutions. He aims for Microsoft to integrate AI across its technology layers, reducing dependence on OpenAI by developing in-house AI technologies and collaborating with companies like xAI, Meta, and Mistral on its Azure platform.
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Microsoft looks to boost AI performance in European languages - The Economic Times
Economic Times
·
1m ago
Medial
Microsoft is investing millions of dollars to enhance AI performance in European languages by developing multilingual data, especially in lesser-represented languages like Estonian and Greek. The investment involves setting up research units in Strasbourg to digitize books and record audio. The data will be released as open-source, aiding public use. This initiative aims to preserve cultural diversity, reduce dependency on English, and support European technological sovereignty, amid heightened concerns over US tech dominance.
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