Microsoft CEO Satya Nadella speaks at a company event on artificial intelligence technologies in Jakarta, Indonesia, on April 30, 2024. Dimas Ardian | Bloomberg | Getty Images Microsoft‘s better-than-expected earnings report wasn’t enough to prevent the stock’s steepest sell-off in two years, as investors instead focused on the company’s forecast for the current period. Microsoft...
AI is an expensive business, costing upwards of $100 million simply to train a new model. At Microsoft, though, a multi-billion dollar investment in AI appears to be paying off: CEO Satya Nadella said on a quarterly earnings call on Wednesday that Microsoft’s AI business “is on track to surpass an annual revenue run rate...
Intel CEO Pat Gelsinger holds an artificial intelligence processor as he speaks during the Computex conference in Taipei, Taiwan, on June 4, 2024. Annabelle Chih | Bloomberg | Getty Images Intel shares jumped 15% in extended trading on Thursday after the chipmaker reported better-than-expected revenue and issued quarterly guidance that topped expectations. Here’s how the...
Starbucks reported its third consecutive quarter of declining sales in the U.S. on Wednesday. To turn things around, Starbucks’ new CEO, Brian Niccol, is making some changes to the company’s menu, atmosphere, and customer service, including removing olive oil coffee drinks and not charging extra for non-dairy milk as of November 7. Starbucks is now...
For the second time in less than a year, employees at music streaming service Tidal will experience mass layoffs. Jack Dorsey, the CEO of payment processing company Block, which acquired a majority stake in Tidal for $237 million in 2021, wrote in a leaked memo to staff that the company was “going to part ways...
31 October 2024 Bank interest rates for corporations Chart 1 Bank interest rates on new loans to, and deposits from, euro area corporations (percentages per annum) Data for cost of borrowing and deposit interest rates for corporations (Chart 1) The composite cost-of-borrowing indicator, which combines interest rates on all loans to corporations, decreased in September...
Stellantis worker at work inside of the new Hybrid and PHEV Vehicles Stellantis Group eDCT Assembly Plant on April 10, 2024 in Turin, Italy. Stefano Guidi | Getty Images News | Getty Images Auto giant Stellantis on Thursday reported a 27% decline in third-quarter net revenues, but said it was making headway in addressing operational...
A sign is posted in front of eBay headquarters in San Jose, California. Justin Sullivan | Getty Images Shares of eBay slumped about 9% in extended trading on Wednesday after the online marketplace issued guidance for the fourth quarter that fell short of Wall Street’s expectations. Here’s how the company did in the third quarter:...
Google software engineers have a new coworker: AI. Google released its third quarter 2024 earnings on Tuesday and emphasized the role that AI plays within the company. “Today, more than a quarter of all new code at Google is generated by AI, then reviewed and accepted by engineers,” Google CEO Sundar Pichai stated on the...