Tag: artificial intelligence

Amazon Posts Strong Q2 Profits as AWS Cloud Growth Accelerates to 18-Quarter High

Amazon reported net income of $62.65 billion and net sales of $200.6 billion in Q2, with AWS cloud revenue rising 37% amid strong AI demand.

EU Commits $11.4 Billion to Build Seven AI Gigafactories in Race With US, China

The EU is offering 10 billion euros to build seven AI gigafactories, aiming to close the computing gap with the US and China.

Google Withdraws AI Imaging Tool in Google Earth Following Disinformation Fears

Google has withdrawn a new AI visualisation feature in Google Earth after researchers warned it could be used to create misleading satellite imagery.

Amazon Stock Surges Toward Best Day in Years as AWS Cloud Growth Accelerates

Amazon shares soared toward their best day in more than a decade as AWS cloud growth accelerated, driven by rising demand for AI infrastructure.

Chime to Cut 10% of Workforce, Citing Efficiency Gains from Artificial Intelligence

Digital banking firm Chime plans to reduce its workforce by around 10%, citing efficiency gains from artificial intelligence, joining a wave of AI-driven j

Aschenbrenner’s AI-Focused Hedge Fund Reportedly Sinks 67% in July Unwind

Leopold Aschenbrenner's AI-focused hedge fund reportedly dropped 67% in July, triggering a momentum-stock shakeout followed by a record snap-back rebound.

Amazon Shares Surge as Cloud Growth Bolsters Case for Heavy AI Spending

Amazon shares jumped about 10% after strong AWS cloud sales and a raised capital spending plan reassured investors on its heavy AI investment.

Apple’s Hybrid AI Strategy Is a ‘Competitive Weapon,’ Tim Cook Says

Tim Cook calls Apple's hybrid AI approach a competitive weapon and warns that a full Siri overhaul in China will roll out gradually amid a memory shortage.

OpenAI Tells Staff July Revenue Outpaced Entire Second Quarter Amid Rising AI Rivalry

OpenAI CFO Sarah Friar told employees July annualized revenue surpassed all of the second quarter, as competition from Anthropic and open-source rivals gro

Microsoft Beats Wall Street Estimates With $90 Billion in Quarterly Revenue on AI Growth

Microsoft posted $90 billion in quarterly revenue, beating Wall Street estimates on strong cloud growth and rising AI adoption, sending shares up nearly 3%