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Category Archives: Tech
Shares in Chinese chipmaker SMIC drop nearly 7% after earnings miss
Shares of Semiconductor Manufacturing International Corporation, China’s largest contract chip maker, fell nearly 7% after an earnings miss.
One of Elon Musk’s longtime VCs is suing his former employer after allegedly being fired
Josh Raffaelli, who has deep roots as a Silicon Valley investor and has backed a number of Elon Musk companies, is suing his former employer, the massive trillion-dollar AUM Brookfield Asset Management, reports The New York Times. Much of Raffaelli’s … Continue reading
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Celsius CEO Alex Mashinsky sentenced to 12 years in multi-billion-dollar crypto fraud case
Mashinsky’s downfall mirrors the fate of FTX founder Sam Bankman-Fried, Binance’s Changpeng Zhao and Do Kwon of Terraform Labs.
Microsoft employees are banned from using DeepSeek app, president says
Microsoft employees aren’t allowed to use DeepSeek due to data security and propaganda concerns, Microsoft vice chairman and president Brad Smith said in a Senate hearing today. “At Microsoft we don’t allow our employees to use the DeepSeek app,” Smith … Continue reading
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A timeline of South Korean telco giant SKT’s data breach
In April, South Korea’s telco giant SK Telecom (SKT) was hit by a cyberattack that led to the theft of personal data on approximately 23 million customers, equivalent to almost half of the country’s 52 million residents. At a National … Continue reading
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Lyft shares rise as company ups buyback to $750 million
Lyft shares jumped 5% after the company lifted its share buyback plan to $750 million in its first quarter earnings report.
Affirm drops 10% on weaker-than-expected guidance for current quarter
Affirm beats on earnings but gave a revenue forecast that trailed analysts’ estimates.
Pinterest shares rise 15% on better-than-expected guidance
Pinterest shares rose in extended trading Thursday after the company reported first-quarter earnings and provided better-than-expected guidance.
Palantir now among 10 most valuable U.S. tech companies — its earnings multiple is astronomical
After Palantir’s stock surge, investors now have to pay over 520 times earnings to buy it.
Appfigures: Apple made over $10B from US App Store comissions last year
Over $10 billion — that’s how much revenue Apple’s U.S. App Store raked in last year, according to a new analysis by app intelligence provider Appfigures. The firm’s estimates indicate that U.S. App Store revenue from commissions more than doubled … Continue reading
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