TECH - Page 16

Logitech International, a leading name in computer peripherals, is setting its sights on a significant expansion. The company’s CEO, Hanneke Faber, recently announced plans to double its target market, aiming to capture a much more significant portion of the peripherals landscape. This ambitious strategy focuses on two key areas: attracting users who work outside traditional office environments and catering to the growing console and mobile gaming market. Logitech has historically enjoyed a strong presence in the office space, offering a

French IT company Atos found itself in a balancing act on Monday. The firm’s shares surged after the French government offered to acquire strategic parts of the business. However, Atos tempered this positive development, revealing a significantly higher-than-expected cash requirement to stay afloat. The state’s offer comes as Atos grapples with financial difficulties. The company desperately needs funds, and the government’s intervention provides a much-needed lifeline. Specific details regarding the proposed acquisition and the targeted “strategic parts” are yet to

Chipmaker giant Intel Corporation (INTC.O) is facing a rough patch. On Thursday, the company’s stock price took a nosedive after it released a disappointing forecast for the second quarter of 2024. The culprit? Weaker-than-expected demand for personal computers (PCs) and traditional data center chips. This comes as the tech industry grapples with a shift in enterprise spending priorities towards the booming field of Artificial Intelligence (AI). The news sent shockwaves through the market, with Intel’s shares plummeting over 7% in

Boston Dynamics, a company renowned for its innovative and sometimes unsettling robotic creations, has unveiled the next generation of its famed humanoid robot, Atlas. This new iteration boasts a complete overhaul, ditching the hydraulics of its predecessor in favor of an all-electric design. But the changes go beyond just the power source. The new Atlas is sleeker, stronger, and boasts a broader range of motion, making it a strong contender for real-world applications. The unveiling comes on the heels of

In a significant boost to domestic chip manufacturing, the U.S. Commerce Department awarded Taiwan Semiconductor Manufacturing Company’s (TSMC) U.S. subsidiary a $6.6 billion subsidy for building advanced chip factories in Phoenix, Arizona. This hefty incentive package, announced on April 8, 2024, also includes access to up to $5 billion in low-interest government loans. The deal sweetens the pot for TSMC, already the world’s largest contract chipmaker and a key supplier for tech giants like Apple and Nvidia. In return for

The healthcare conglomerate will buy medical device maker Shockwave Medical (SWAV.O). This company makes a device that uses shockwaves to break down calcified plaque in heart vessels, mirroring the approach used to dismantle kidney stones. It is the latest move by J&J to boost its portfolio of cardiovascular medical devices, which include its flagship stents and new drugs for treating vascular disease. The transaction, which will be financed through a combination of cash and debt, is expected to close in

The tech giant is cutting more than half its employees in California as part of the decisions to end its electric car and in-house smartwatch display projects, according to filings with the California Employment Development Department. The Cupertino, California-based company filed eight separate reports to the state to comply with the Worker Adjustment and Retraining Notification, or WARN, program, which requires companies to give a 60-day notice of mass layoffs. The filings suggest that Apple ended the car project and

Despite a dip in the previous quarter that fell short of market expectations, the world’s largest contract electronics maker and Apple’s primary iPhone assembler, Foxconn, rebounded with significant growth in its second quarter. This resurgence underscores the enduring demand for smartphones, gaming consoles, and other electronics, which have become essential tools for remote work, home-schooling, and other online activities. The strong showing also underscores the resilience of the global economy, which has emerged from a period of volatility marked by

The Indonesia AI Nation initiative marks a significant development in the country’s technological landscape, establishing it as a frontrunner in harnessing artificial intelligence’s potential. With a $200 million investment, the center seeks to support technological innovation and skill development by fostering collaboration between international corporations and local entities. The center will be built in Solo Techno Park, a newly revitalized creative public space supporting technology development in Solo. The facility will have various technologies, including NVIDIA DGX A100 systems, to

The US chip maker Intel (INTC.O) on Tuesday disclosed deepening operating losses for its foundry business, a blow to the chipmaker as it tries to regain a technology lead it lost in recent years to Taiwan Semiconductor Manufacturing (2330. TW), the world’s biggest contract chipmaker. Intel’s manufacturing unit reported a $7 billion operating loss for 2023, a steeper loss than the $5.2 billion in losses it had the year before. The unit had revenue of $18.9 billion, down 31% from