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Technology Sector

All articles tagged with #technology sector

technology17 days ago•6 min saved

Shenzhen’s robotaxis push stirs worry among taxi drivers

Shenzhen is expanding robotaxis to promote autonomous mobility, in a saturated taxi market with about 400,000 licensed drivers earning roughly 13 fares a day; July rules will enable robotaxi tests citywide as operators like Pony.ai and Baidu run pilots, raising concerns among drivers that automation could replace or erode livelihoods even as robotaxis may eventually supplement human drivers in China’s gig economy amid policy aims to address an ageing workforce and a manufacturing shift.

via Financial Times|

#chinese-employment #driverless-vehicles #gig-economy

technology23 days ago•5 min saved

Robot deliveries could replace 700,000 JD.com couriers, says founder

JD.com founder Richard Liu warned that rapid automation could eventually replace about 700,000 delivery workers, as the company trains couriers for robot maintenance and runs pilot programs (e.g., airport delivery robots and robot restocking). The comments highlight policymakers’ worries about gig workers amid China’s push on robotics in its five-year plan, with youth unemployment rising and debates over social protections for platform workers.

via Financial Times|

#chinese-economy #employment #gig-economy

technology24 days ago•4 min saved

Skilled trades become AI's next bottleneck

AI’s data-centre expansion is turning labor into the bottleneck, with a current trades shortfall around 350,000 expected to exceed 1 million by 2030, driving big tech to fund training programs and offer incentives as they invest hundreds of billions in infrastructure.

via Financial Times|

#data-centres #employment #global-economy

technology1 month ago•5 min saved

Coupang faces historic data-breach penalty as Korea tightens tech oversight

South Korea fined Coupang 624.6 billion won ($409 million) for a data breach that exposed the personal information of roughly two-thirds of the population, the largest such penalty in the country; authorities said security controls were lax and response was delayed, triggering leadership changes and fueling broader debates over US-Korea tech regulation.

via Financial Times|

#asia-pacific-companies #coupang #data-protection

technology1 month ago•5 min saved

OpenAI shifts ChatGPT into a business-first AI 'superapp' ahead of IPO

OpenAI is planning its biggest overhaul of ChatGPT since launch, turning the chatbot into a business-focused 'superapp' that blends Codex, AI agents and partner apps. The company is reorganizing to win more enterprise customers and push toward profitability ahead of an IPO, trimming consumer-only features and steering users toward coding tools, image generation, and business applications. Executives view AI agents that perform tasks across work and life as the future, with a rollout of interface changes starting in coming weeks.

via Financial Times|

#artificial-intelligence #business-strategy #ipo

business1 month ago•4 min saved

Alphabet plans $80 billion equity raise to bankroll AI infrastructure buildout

Alphabet plans to raise up to $80 billion in equity to fund its AI infrastructure investments, including a $10 billion private placement to Berkshire Hathaway—its first stock sale in more than two decades. The move accompanies an expected up to $190 billion in capital expenditure this year, funded in part by debt, as Alphabet seeks to diversify funding sources. Berkshire would own about $32 billion of Alphabet, elevating its stake among Berkshire’s top holdings. Proceeds will also cover changes to taxes on vesting employee stock grants, with about $30 billion from common/convertible shares and up to $40 billion from open-market sales expected starting in Q3. Goldman Sachs acted as placement agent for Berkshire and joint bookrunner on the equity raise with JPMorgan Chase and Morgan Stanley. Google Cloud posted a 63% YoY revenue rise to $20 billion in Q1, highlighting AI-driven growth.

via Financial Times|

#alphabet-inc #artificial-intelligence #berkshire-hathaway

world1 month ago•7 min saved

Iran weaponizes Western AI to sharpen cyber warfare

Western AI models such as OpenAI’s ChatGPT and Google’s Gemini are increasingly used by Iran’s security apparatus to accelerate cyber operations, enabling malware development, multilingual phishing, and faster, larger-scale attacks; Iran is also building an offline national AI platform to endure internet outages and enhance drone, missile guidance, and electronic warfare, while OpenAI and other providers work to curb abuse. Analysts say Iran’s use of AI spans research, translation, and planning, signaling a rising capability that lags behind Western powers but is closing the gap amid ongoing regional tensions.

via Financial Times|

#artificial-intelligence #cyber-security #government-of-iran

technology1 month ago•4 min saved

Snowflake’s AI lift sparks stock surge as SaaS fears ease

Investors are differentiating winners from losers in software shares after fears of an AI-driven SaaSpocalypse, with Snowflake jumping on news of a 31% mid-year revenue rise aided by its AI data-analysis tools and its CoCo coding assistant. But competition from Databricks, SAP, Microsoft and Google is likely to intensify, and Snowflake remains unprofitable for now and is not in the S&P 500, suggesting the SaaS renaissance may be real but not guaranteed.

via Financial Times|

#ai #saas #snowflake

technology2 months ago•3 min saved

OpenAI weighs legal action as Apple’s iPhone AI deal stalls

OpenAI is considering legal action against Apple over their 2024 agreement to integrate ChatGPT into the iPhone, arguing Apple has not invested the promised resources to deliver the partnership; Apple has pursued other AI deals (notably Google Gemini for Apple Intelligence) and has not actively promoted OpenAI tools on iPhone, contributing to tension as OpenAI also recruits from Apple.

via Financial Times|

#apple-inc #artificial-intelligence #openai

technology2 months ago•4 min saved

Apple to pay $250 million to settle AI Siri false-advertising lawsuit

Apple has agreed to a $250 million settlement to resolve a class-action accusing it of false advertising for promising AI Siri features in 2024 that had not launched; the deal covers U.S. buyers of the iPhone 16 and some iPhone 15 models, carries no admission of fault, and would be among the company’s largest settlements if approved. The case underscores ongoing AI hype and delays as Apple partners with OpenAI and Google and had signalled a Siri reveal at its June developer conference, though Tim Cook later said Siri work is taking longer than expected.

via Financial Times|

#apple-inc #artificial-intelligence #big-tech

business2 months ago•4 min saved

Anthropic-backed AI venture tees up $1.5bn Wall Street services play

Anthropic is forming a $1.5bn joint venture with Wall Street players including Blackstone, Goldman Sachs and Hellman & Friedman to deploy its AI across investment portfolios via a new consulting company. The deal funds initial commitments (about $300mn from Anthropic, Blackstone and H&F; $150mn each from Goldman and General Atlantic) and embeds Anthropic engineers to commercialize Claude Code, aiming to accelerate enterprise AI adoption on Wall Street ahead of a potential public listing.

via Financial Times|

#artificial-intelligence #business #financial-services

technology2 months ago•6 min saved

Chip costs cloud Nintendo’s Switch 2 hopes as stock slides

Nintendo’s stock has fallen about 45% as higher memory-chip prices threaten Switch 2 margins and possible price increases, even as the console shows momentum. By December, Switch 2 sales reached 17.4 million, nearly matching the original’s 17.8 million in its first 13 months, with Pokémon Pokopia posting 2.2 million in four days. Analysts warn memory-supply tightness could persist into 2028, prompting forecast cuts or price hikes, while a June Nintendo Direct and potential Zelda or Mario titles could be crucial to sustaining demand.

via Financial Times|

#asia-pacific-companies #games-industry #japanese-business-and-finance

business2 months ago•3 min saved

Spotify shares slide as price hikes threaten subscriber growth

Spotify forecast weaker Q2 subscriber growth and €630m in operating income, below expectations, amid concerns price rises may deter customers; it expects 6m new subscribers to 299m (vs 302m consensus). In Q1 it added 3m paying subscribers (293m) and 761m MAUs on €4.5bn revenue with €721m net income, while stressing cost discipline and signaling an investor day with AI plans.

via Financial Times|

#business #corporate-earnings-and-results #spotify-technology-sa

technology-and-us-politics3 months ago•4 min saved

New pro‑AI group pledges $100m to influence US midterms amid regulation debate

A fresh pro‑AI political group, Innovation Council Action, backed by Donald Trump adviser David Sacks and led by Taylor Budowich, plans to spend at least $100 million to back midterm candidates, signaling AI policy as a key battleground. The effort adds to a slate of pro‑AI fundraising as Washington weighs a federal regulatory framework versus state rules, with Sacks arguing for a single national standard. The move comes alongside other industry‑funded efforts and shifting public opinion on AI oversight.

via Financial Times|

#ai-regulation #david-sacks #political-fundraising

business4 months ago•3 min saved

Goldman Sachs Says S&P 500 Could Reach 7,600 by 2026 on Earnings Growth

Goldman Sachs projects the S&P 500 could reach 7,600 by end-2026 as corporate earnings grow and the economy expands, with the information technology sector leading the gains and financials, health care, and communication services providing support; the index trades around 21x forward earnings, near its long-run average, implying roughly a 14% upside from current levels.

via Seeking Alpha|

#business #earnings-growth #goldman-sachs