It turns out generative AI companies can generate a significant amount of money, but it still may not be enough to pay the bills. OpenAI Inc. is on track to bring in $1 billion in annual revenue from businesses paying to use the technology that powers the company’s best-known tool, ChatGPT. The startup is said … Read more
Microsoft on Tuesday submitted a new deal to U.K. regulators for the takeover of Activision Blizzard after the rejection of its initial proposal. On Tuesday, the U.K.’s Competition and Markets Authority confirmed it has blocked the original deal. Under the restructured deal, Microsoft will not acquire cloud rights for existing Activision PC and console games, … Read more
Google is telling users by email that it will delete accounts, starting in December, if people haven’t signed in to them for two years or more. The policy change is facing criticism online, in part because the emails can be easily ignored. Google said in May that the move was for security reasons, but the … Read more
Nvidia’s surge past $1 trillion market cap puts it alongside household names Amazon, Apple, Microsoft and Alphabet. Baked into the stock price is a slew of assumptions about growth, including quadrupling net income this year. Nvidia’s graphics chips have proven to be the best for training AI models, and the company’s forecasts show insatiable demand. … Read more
Big Tech’s Dominance in Stock Market Hits Breakpoint for Nasdaq 100 Bloomberg Source link
Wall Street strategists are increasingly voicing concernsBloomberg Terminal about the concentration of Big Tech stocks in this year’s stock-market rally. But if history is any guide, there’s little reason to fear. Apple Inc., Microsoft Corp., Google parent Alphabet Inc., Amazon.com Inc., Nvidia Corp., Tesla Inc. and Facebook owner Meta Platforms Inc. now make up 28% … Read more
Stock Market Today: Dow, S&P Live Updates for June 30 Bloomberg Source link