TECH - Page 18

Apple supplier Foxconn, the world’s largest contract electronics maker, has adopted a far more bullish outlook for this year. On Thursday, it expected a significant rise in revenue driven by booming demand for artificial intelligence servers. The upbeat tone came after a forecast-beating 33% jump in net profit for the fourth quarter. It also contrasted sharply with remarks by Foxconn Chairman Young Liu in November that the world’s largest contract electronics maker had a tough time predicting a recovery in

Elon Musk, the billionaire entrepreneur, has filed a lawsuit against OpenAI and its CEO, Sam Altman. Musk, who played a significant role in the establishment of the artificial intelligence startup in 2015, claims that the company, supported by Microsoft, has deviated from its original purpose. The lawsuit contends that OpenAI’s pursuit of profits contradicts the initial agreement made with the founding team, which aimed to prioritize the development of AI for the betterment of humanity. The suit states that despite

On Thursday, Italy’s competition watchdog announced fines totaling 10 million euros ($10.94 million) imposed on three subsidiaries of the social media behemoth TikTok. The penalty was levied due to insufficient content moderation checks, particularly regarding material that could pose risks to young or vulnerable users. This ruling deals another setback to TikTok’s parent company, Chinese firm ByteDance (BYT.O), which faces mounting regulatory pressure worldwide to safeguard underage users and tackle online piracy. TikTok, which boasts 150 million monthly active users

Italy’s new strategy for Artificial Intelligence aims to foster innovation and research and position itself as a leader in the world of technology. The country is also preparing a legislative framework to regulate the sector and is encouraging the public administration to invest in AI projects. The initiative, backed by the Italian bank Cassa Depositi e Prestiti (CDP), aims to promote AI projects to help solve real-world problems in fields such as health and the environment. It will include an

On Monday, Bitcoin reached an all-time high, surpassing $71,000, signaling a continued upward trend in the leading cryptocurrency’s value. The virtual currency exceeded the previous peak in November 2021, driven by heightened trading accessibility and a weakened US dollar. Investors were also attentive to an upcoming industry event known for historically enhancing the value of Bitcoin. Britain’s financial watchdog on Monday became the latest regulator to pave the way for digital asset trading products. It said it will now permit

China has made technological self-sufficiency a top national priority, with Beijing supporting chip design and manufacturing efforts. But a gap remains between the country’s peak technological level and the rest of the world. The 7 nm chips at the heart of the new Huawei smartphone are a crucial indicator. When the Shanghai-based semiconductor foundry SMIC used US technology to make an advanced chip in China last year, it raised eyebrows. The move came amid US-China tensions and a US Commerce

After Nvidia Corp’s stratospheric rise, investors have searched for other tech companies poised to benefit from the artificial intelligence (AI) windfall. One such name is Broadcom, a giant chip maker best known for its networking products and custom chips that tackle particular computing tasks. With a market cap of $600 billion, Broadcom competes with household names like Intel and Nvidia in the semiconductor space. However, many people don’t consider Broadcom a big player in the AI boom. The company plays

Spotify, one of the world’s most extensive streaming services, on Thursday said it would increase its prices in France over a new tax. The company argued that the French tax would fail to accomplish its goal of supporting music creation in the country. Last year, the government decided to impose a 1.2% tax on the revenue streaming companies make in France starting this year to help finance music creation. The tax is aimed at helping small and medium-sized artists with

On Tuesday, a bipartisan group of U.S. lawmakers put forth legislation that mandates China’s ByteDance to divest the popular short video app TikTok within six months or face a U.S. ban. The proposed bill, known as the Protecting Americans From Foreign Adversary Controlled Applications Act, was introduced by Representatives Mike Gallagher of Wisconsin and Raja Krishnamoorthi of Illinois. The legislation cites concerns about national security due to TikTok’s Chinese ownership, alleging that the Beijing-based company collects data from American users

On Monday, Brussels imposed a historic fine of 1.84 billion euros ($2 billion) on Apple for impeding competition from music streaming rivals through restrictive measures on its App Store. This marked the first-ever penalty for the iPhone manufacturer’s violation of EU regulations. The European Union’s antitrust authorities took action in response to a complaint filed by Spotify, headquartered in Stockholm, alleging that Apple unfairly prioritized its own services over competitors selling subscriptions through the App Store. The EU’s Competition Commissioner,