WeWork, the company that was once valued at $47 billion, has issued warnings of its potential bankruptcy, raising concerns and questions about its future. Last week, WeWork claimed “substantial doubt” about the coworking-space-based company’s ability to function despite its “going concern” status, considering the resources needed to operate correctly. Since WeWork partners with large commercial …
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Taiwan Semiconductor Manufacturing Company (TSMC), a global leader in semiconductor production, is gearing up to open its first European plant in Dresden, Germany. This significant move is expected to cost over €10 billion, underscoring the pivotal role of semiconductor production in the contemporary tech-centric era. Recently, TSMC’s board shared their decision through a press release, …
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Bank shares in the US witnessed a steep fall on Tuesday after ratings firm Moody’s Corporation (MCO) cut the ratings of various US bankers. Moody’s downgraded the credit ratings of multiple small-and medium-sized US banks and issued similar warnings to various big Wall Street lenders. The agency lowered the ratings of ten banks, including Pinnacle …
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A senior Audi executive has released warnings claiming the semiconductor shortages in Germany’s car industry will take years to alleviate despite chipmakers establishing factors in the country. The automotive industry took a hit during the global COVID-19 pandemic, as it led to chip shortages. Since cars use large amounts of chips, from brake sensors and …
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Preliminary findings from a landmark Swedish trial indicate that artificial intelligence (AI) is aiding radiologists in more efficiently detecting breast cancer cases. Scientists discovered that AI-supported breast screening detected 20% more cancers than the traditional method of two radiologists double-reading mammograms. Derived from a study of over 80,000 women, these results were recently published in …
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Amidst rising geopolitical rivalry, President Joe Biden signed an executive order on August 9 to curtail U.S.-based investments in select Chinese technology sectors. The move, while targeted, highlights an intensifying rivalry between the world’s leading superpowers. The order primarily encompasses advanced computer chips, microelectronics, quantum information technologies, and artificial intelligence. Senior U.S. officials have framed …
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OpenAI is staring at a looming financial crisis. A report from Analytics India Magazine states that the company is on the brink of bankruptcy, primarily because of the overwhelming operating costs of its flagship AI chatbot, ChatGPT. Sam Altman’s AI development studio invests $700,000 daily to support ChatGPT’s ongoing mission to advance generative AI. This …
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In a twist that could reshape the tech landscape, Microsoft has come under the scrutiny of European antitrust authorities. The European Commission’s announcement comes after a formal complaint from Slack, now a part of Salesforce, back in 2020. It’s a classic tale of rivalry and intrigue, where accusations of unfair competition are now under the …
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EU countries unite to curtail the power of Big Tech companies through a pioneering agreement known as the ‘Data Act.’ Following seven hours of intense negotiations between EU lawmakers, this groundbreaking pact seeks to safeguard European consumer and corporate data, aiming to level the playing field and rein in the dominance of US tech giants. …
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In a quest for a more sustainable tomorrow, the US government is putting the pedal to the metal, steering the automotive industry towards a revolutionary transformation. Proposing sweeping changes in auto emissions standards, the stage is set for electric vehicles (EVs) to take the limelight, propelling toward a greener and cleaner future. By 2032, a …
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