The cryptocurrency market was hit with a sharp decline on Wednesday as Bitcoin, the leading digital currency, dropped to its lowest level in over two months. The price plummeted to $56,757.93, falling below the $57,000 mark for the first time since February 28. This significant drop raised concerns among investors as Bitcoin continued to tumble,
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Amazon is set to report its first-quarter earnings, with analysts forecasting earnings per share of 83 cents and revenue of $142.5 billion. Wall Street is closely monitoring key numbers such as Amazon Web Services revenue projected at $24.5 billion and advertising revenue at $11.7 billion. Analysts are anticipating a revenue growth of 12% for Amazon,
Tesla’s stock price surged in U.S. premarket trading following the announcement that the electric car company had cleared a significant hurdle to introduce its Full Self Driving (FSD) technology in China. The suspension in share prices by over 10% after 7:30 a.m. ET demonstrated investor excitement over Tesla CEO Elon Musk’s visit to China, where
The world of cloud computing is evolving rapidly, with an increasing number of companies delving into the realm of Artificial Intelligence (AI). Oracle, a leading cloud infrastructure provider in the U.S., has recognized the need to enhance its generative AI capabilities to stay ahead in the competition. The recent AI boom, triggered by the launch
The tech industry, despite witnessing substantial profits from tech giants like Alphabet and Microsoft, has been experiencing a surge in layoffs. According to Layoffs.fyi, over 263,000 job cuts were recorded in 2023, with more than 75,000 job losses reported in the industry in 2024. This trend has raised concerns about the long-term stability of tech
The digital advertising industry has been through a tumultuous period in recent years, with 2022 characterized by severe spending cuts and cost-saving measures across top companies. However, the tide seems to be turning in 2023, with Meta, Snap, and Google all reporting impressive first-quarter results that have exceeded analysts’ expectations. Meta, in particular, demonstrated a
Former Tesla executive Drew Baglino recently announced his resignation from the electric vehicle company. Along with this announcement, it was revealed that Baglino sold around $181.5 million worth of shares in Tesla. This move came as a surprise to many, as Baglino had been with Tesla since 2006. The filing with the SEC indicated that
Mark Zuckerberg’s recent earnings call with Meta left investors feeling uneasy as he delved into discussions about artificial intelligence and the metaverse. While touting the company’s latest innovations in headsets, glasses, and operating systems, Zuckerberg’s focus on the financial losses Meta incurs did not sit well with investors. The stock price plummeted by 19% in
South Korean memory chipmaker SK Hynix recently reported a significant net profit of 1.92 trillion South Korean won ($1.39 billion) in the first quarter, marking a notable turnaround from a loss of 2.58 trillion won in the same period a year ago. This positive income comes after a challenging period of five consecutive quarters of
U.S. prosecutors are pushing for a hefty 36-month prison sentence for the former CEO of Binance, a major cryptocurrency exchange. The reason behind this request is the alleged involvement of Zhao in enabling money laundering activities. The prosecution believes that Zhao’s crimes are severe enough to warrant a sentence well above the advisory guidelines. The