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☆ This year’s Amazon Prime Day was the biggest in company history
▼ + stars: | 2023-07-13 | by ( Nathaniel Meyersohn | ) edition.cnn.com time to read: +1 min

Consumers spent $12.7 billion across the web on July 11 and 12 during Amazon’s Prime Day sales, a 6.1% jump from a year ago, according to Adobe Analytics. Amazon said July 11 was the single largest sales day in the company’s history, but declined to provide totals. “Prime Day has become of one the biggest e-commerce moments of the year, as consumers latch onto major discounts from a number of different retailers,” said Vivek Pandya, lead analyst at Adobe Digital Insights. Amazon holds Prime Day in July every year to juice sales numbers during what are typically slow summer months. Since Prime Day began in 2015, other chains, like Walmart with its Walmart+ week and Best Buy with “Black Friday in July,” have also jumped in to capture shoppers’ spending during slow summer months.

Persons: ”, Vivek Pandya, Doug Anmuth Organizations: New, New York CNN, Amazon’s, Adobe Analytics, Walmart, Target, Amazon, Adobe, “, Adobe Digital Locations: New York

☆ Amazon touts 'biggest ever' Prime Day as U.S. online sales surge to $12.7 billion
▼ + stars: | 2023-07-13 | by ( Annie Palmer | In Annierpalmer | ) www.cnbc.com time to read: +2 min

Workers retrieve boxes at an Amazon fulfillment center on Prime Day in Raleigh, North Carolina, U.S., on Monday, June 21, 2021. Online spending in the U.S. climbed 6.1% to $12.7 billion during Amazon 's Prime Day promotion, according to Adobe Analytics, as deal-hungry consumers snapped up home goods and household essentials. Amazon, which didn't disclose total sales from the event, said the first 24 hours of Prime Day marked the "single largest sales day in company history." Rival retailers including Walmart , Target , Best Buy and Kohl's hosted competing discount events alongside Prime Day. WATCH: Consumer feeling stretched and looking for deals during Amazon Prime Day

Persons: Apple AirPods, Kohl's, they'd Organizations: Amazon, Adobe Analytics, Adobe, Walmart, Target, Prime, Shoppers Locations: Raleigh , North Carolina, U.S

Amazon said over the two-day event, Prime members bought more than 375 million items worldwide and saved more than $2.5 billion on several deals, making it the biggest Prime Day event ever. The second day saw an increase in sale of back-to-school items including stationary and office supplies, said Vivek Pandya, lead analyst at Adobe Digital Insights. Online sales on July 12 for appliances were up 52% compared to average daily sales in June, while apparel was up 24% and stationary and office supplies was up 76%. On the second day, consumers were most enticed by 14% discount for electronics and 12% for apparel and toys, Adobe said. Amazon has also offered for the first time Prime Day travel discount, partnering with travel booking site Priceline, while its loyalty program members were also given access to "invite-only deals" in the weeks leading up to Prime Day.

Persons: Vivek Pandya, Pandya, Amazon, Granth, Arun Koyyur Organizations: Adobe, Shoppers, Adobe Digital, Walmart, Target, Thomson Locations: Coventry, Britain, Bengaluru

☆ China's chip metal export curbs are 'a wake up call' for countries to diversify their supply chains
▼ + stars: | 2023-07-13 | by ( Sheila Chiang | ) www.cnbc.com time to read: +3 min

Luisa Moreno, President of mining company Defense Metals Corp, expects China to further restrict metal exports which could include rare earths. Jakub Porzycki | Nurphoto | Getty ImagesChina's metal export curbs on gallium and germanium could spur some countries to diversify their supply chains away from China. Rare earths are essential for high-tech consumer products like smartphones and military equipment like radar systems. Rare earths make up a group of 17 elements composed of scandium, yttrium, and the lanthanides. China also threatened to stop rare earths exports to the U.S. in 2019.

Persons: Luisa Moreno, Jakub Porzycki, Stewart Randall, Intralink, Randall, Brady Wang, Moreno, Counterpoint's Wang, Intralink's Randall, Ross Berntson Organizations: Defense Metals Corp, Nurphoto, Getty, CNBC, Alliance, Europe Commission, Counterpoint Research, Indium Corporation Locations: China, Shanghai, Europe, Japan

SEOUL, July 12 (Reuters) - LG Electronics (066570.KS) said on Wednesday it is targeting 100 trillion won ($77 billion) in sales by 2030 and plans some 50 trillion won of investment as the South Korean company announced its future strategy. "LG Electronics will tranform its business portfolio... increase profits by growing in business-to-business, and transition to a service business," CEO William Cho told a press conference. In 2022, LG reported about 65 trillion won in consolidated sales excluding affiliate LG Innotek (011070.KS), which makes device components such as camera modules for smartphones. That would be up from more than 80 trillion won ($61.72 billion) as of end-March, according to an eBest Investment & Securities report on Monday. On Friday, LG Electronics estimated its second-quarter operating profit rose 12.7% from a year earlier to 892.7 billion won, its second-largest April-June quarter profit ever.

Persons: William Cho, 1,292.1700, Hyunsu Yim, hyang Choi, Joyce Lee, Ed Davies, Simon Cameron, Moore Organizations: LG Electronics, South Korean, LG, Investment, Securities, Thomson Locations: SEOUL, KS

Metal has been arriving almost daily in response to a sharp squeeze across the front part of the LME tin curve. LME and ShFE tin stocksLME SQUEEZE, BUT NO PHYSICAL TIGHTNESSThe tightness on the LME tin contract does not seem to have reflected any shortage of tin in the physical market. The LME squeeze appears to have been more a clash of positioning in what can at times be a relatively illiquid market. Fund positioning on the LME tin contractSUPPLY DISRUPTION LOOMSWhile tin supply has recovered from early-year disruption in Indonesia and Peru, a new threat is now looming. From the start of next month, all tin mining will be suspended in the Wa region of Myanmar.

Persons: It's, Jan Harvey Organizations: London Metal Exchange, Shanghai Futures Exchange, U.S, Fastmarkets, Fund, United Wa State Army, International Tin Association, Yinman, Yunnan Tin Company, Reuters, Thomson Locations: Myanmar, Malaysia's Port Klang, Singapore, Rotterdam, Antwerp, Italian, Genoa, Trieste, Spanish, Bilbao, Baltimore, U.S, Midwest, COVID, Indonesia, Peru, Wa, Guangxi, Mongolia, Yunnan, China

☆ India's Gujarat in talks with Foxconn for its semiconductor plant
▼ + stars: | 2023-07-12 | by ( Sumit Khanna | ) www.reuters.com time to read: +2 min

AHMEDABAD, India July 12 (Reuters) - India's Gujarat state is holding talks with Foxconn over a semiconductor plant, a top government official told Reuters, days after the Taiwanese giant broke off a $19.5 billion joint-venture plan with India's Vedanta. "We are in touch with multiple prospective investors, including Foxconn ... Gujarat is uniquely positioned to attract top chipmakers," said Vijay Nehra, secretary of the science and technology department in Gujarat. Foxconn (2317.TW) this week exited its project with Vedanta (VDAN.NS), which was also planned for Prime Minister Narendra Modi's home state of Gujarat, citing issues such as slow progress. The breakup of the JV was a setback for Modi's vision to establish India as a semiconductor manufacturing hub. Its talks with Gujarat come weeks after Micron Technology (MU.O) said it will invest up to $825 million in a semiconductor testing and packaging facility in the state.

Persons: Vijay Nehra, Narendra Modi's, Foxconn, Modi, Lee, Munsif Vengattil, Aditya Kalra, Sharon Singleton Organizations: Reuters, Vedanta, JV, IGSS Ventures, ISMC, LinkedIn, Micron Technology, Thomson Locations: AHMEDABAD, India, Gujarat, ., Foxconn, Singapore

☆ China's Huawei poised to overcome US ban with return of 5G phones, research firms say
▼ + stars: | 2023-07-12 | by ( David Kirton | ) www.reuters.com time to read: +5 min

Huawei should be able to procure 5G chips domestically using its own advances in semiconductor design tools along with chipmaking from Semiconductor Manufacturing International Co (SMIC), three third-party technology research firms covering China's smartphone sector told Reuters. The firms, citing industry sources including Huawei suppliers, spoke on condition of anonymity because of confidentiality agreements with clients. [1/2]A Huawei logo and a 5G sign are pictured at Mobile World Congress (MWC) in Shanghai, China June 28, 2019. The second research firm said it noticed Huawei had asked SMIC to produce chip components below 14 nm this year for 5G products. The forecast yield rate of less than 50% means that 5G chips are "going to be costly", said Doug Fuller who researches chips at the Copenhagen Business School.

Persons: SMIC, Canalys, Aly, Doug Fuller, Fuller, David Kirton, Jamie Freed Organizations: Huawei, Huawei Technologies, chipmaking, Semiconductor Manufacturing International, Reuters, Apple, Samsung, China Securities Journal, Mobile World Congress, REUTERS, Copenhagen Business School, Thomson Locations: SHENZHEN, China, Shenzhen, U.S, Shanghai, Washington

☆ Buying my first home as a 37-year-old veteran and single mother was difficult but totally worth it. The sacrifices I've made will give my child a better future.
▼ + stars: | 2023-07-12 | by ( Alcynna Lloyd | ) www.businessinsider.com time to read: +5 min

I have made many sacrifices along the way but being able to give my child a sense of security is worth it all. Saving for a home purchase was tough as a single motherIn January, I began my home buying journey. I was working for the US government and receiving additional money from the Department of Veteran Affairs for a disability. I was scared during my home buying journey, and there were times that I wanted to give up but I persisted. I've also missed out on family gatherings and pursuing relationships — all so I could save money to buy a home.

Persons: Breanna Dill, Dill, —, that's, it's, I've Organizations: Marine Corps, Service, Department of Veterans Affairs, Department of Veteran Affairs, Veterans Affairs Locations: Wall, Silicon, Minnesota, Austin , Texas, Austin, Houston, Houston —, Dallas, United States

☆ Back-to-school spending is forecast to drop 10% as inflation bites
▼ + stars: | 2023-07-12 | by ( Parija Kavilanz | ) edition.cnn.com time to read: +2 min

Back-to-school spending by parents with children in grades K-12 is expected to decrease 10% this year over last year to $597 per student, according to a new forecast from Deloitte on Wednesday. The last time Deloitte expected a decline in back-to-school spending was in 2014. Although US consumer spending has remained strong, even as inflation has taken a bite out of discretionary purchases, the economy is starting to show cracks. The report said spending on clothing is expected to fall 14% year-over-year and technology-related purchases are forecast to decline 13%; in contrast, purchases of school supplies are expected to be up 20% compared to last year. Among parents spending less, 51% attributed the pullback to reduced disposable income (up from 45% in 2022), while 75% of those spending more said it was because of increased prices (up from 60% in 2022).

Persons: Nick Handrinos, “ It’s, ” Organizations: New, New York CNN, Deloitte, Target Locations: New York

SUWON, South Korea, July 12 (Reuters) - The trial of a South Korean chip executive accused of stealing sensitive information developed by Samsung Electronics (005930.KS) began on Wednesday in a case that underscores South Korea's crackdown on industrial espionage. Prosecutors have alleged that Choi Jinseog, a former Samsung Elec executive and a South Korean chip expert, stole sensitive information developed by the world's top memory chipmaker to help his client set up a chip factory in China. The high-profile criminal case against Choi, an award-winning engineer once seen as a star in South Korea's chip industry, highlights Seoul's efforts to crack down on industrial espionage and slow China's progress in chip manufacturing. Prosecutors have also charged five former employees at Choi's chip consultancy firm, Jin Semiconductor, and a former employee at a Samsung contractor. In a letter to Reuters from prison last month, Choi rejected allegations he had sought to build a copycat chip factory in China with information illegally obtained via Samsung's supplier network.

Persons: Choi Jinseog, Choi, Kim Pilsung, Stephen Coates Organizations: Samsung Electronics, Prosecutors, Samsung, Jin Semiconductor, Thomson Locations: SUWON, South Korea, Korean, KS, China, South, Suwon, Seoul

☆ China's Huawei poised to overcome US ban with return of 5G phones - research firms
▼ + stars: | 2023-07-12 | by ( David Kirton | ) www.reuters.com time to read: +5 min

[1/2] A Huawei logo and a 5G sign are pictured at Mobile World Congress (MWC) in Shanghai, China June 28, 2019. Huawei should be able to procure 5G chips domestically using its own advances in semiconductor design tools along with chipmaking from Semiconductor Manufacturing International Co (SMIC), three third-party technology research firms covering China's smartphone sector told Reuters. The firms, citing industry sources including Huawei suppliers, spoke on condition of anonymity because of confidentiality agreements with clients. The second research firm said it noticed Huawei had asked SMIC to produce chip components below 14 nm this year for 5G products. The forecast yield rate of less than 50% means that 5G chips are "going to be costly", said Doug Fuller who researches chips at the Copenhagen Business School.

Persons: Aly, SMIC, Canalys, Doug Fuller, Fuller, David Kirton, Jamie Freed Organizations: Huawei, Mobile World Congress, REUTERS, Huawei Technologies, chipmaking, Semiconductor Manufacturing International, Reuters, Apple, Samsung, China Securities Journal, Copenhagen Business School, Thomson Locations: Shanghai, China, SHENZHEN, Shenzhen, U.S, Washington

☆ India's slow progress in becoming a chipmaking powerhouse to rival China is bad news for Apple
▼ + stars: | 2023-07-12 | by ( Hasan Chowdhury | ) www.businessinsider.com time to read: +4 min

Apple has long depended on China for manufacturing, but the relationship is getting complex. Two recent developments suggest India's push to become a viable alternative to China — and benefit Apple — are mixed. "Foxconn has determined it will not move forward on the joint venture with Vedanta," Foxconn said in a statement to Reuters. That's a critical blow to Modi, who set out chip manufacturing as a strategic part of his ambitions to level up India. Vedanta chairman Anil Agarwal tweeted that the joint venture meant "India's own Silicon Valley is a step closer now."

Persons: Foxconn, —, China's, Luxshare, JP Morgan, Tim Cook, Modi, Madhuri Dixit, Mukesh Ambani, Narendra Modi, That's, Europe's, Anil Agarwal, Agarwal Organizations: Apple, Apple ., Tata Group, Bloomberg, Vedanta, Reuters Locations: China, India, Asia, China's hawkishness, Taiwan, Vietnam, Beijing, Mumbai, iPhones, Karnataka, Modi's, Gujarat, Cupertino

The best Prime Day TV dealsDeal icon An icon in the shape of a lightning bolt. $89.99 from Amazon Originally $149.99 Save 40%Deal icon An icon in the shape of a lightning bolt. Lowest Price Amazon 43-inch Omni Series 4K Fire TV The Omni Series The smallest version of Amazon's flagship TV brand boasts 4K picture quality and Alexa-powered voice controls. Prime member exclusive $429.99 from Amazon Originally $559.99 Save 23%Deal icon An icon in the shape of a lightning bolt. Deal Amazon Fire TV Cube (2022) Amazon's latest Fire TV Cube offers 4K streaming support, hands-free Alexa, an HDMI input, and video upscaling.

Persons: We've, Price, it's, It's, we've, Bose, you'll, Price Roku, Dolby, you've, AirPods Organizations: Samsung, Amazon, Price Samsung, LG, NVIDIA, Deal LG, Sony, Prime, SAMSUNG, Price LG, PlayStation, Omni, Fire, Price NVIDIA, Dolby, Google, Alexa, Price Apple

Back-to-school shopping on Amazon Prime Day is a convenient and efficient option for students and parents alike. Although Amazon Prime ends tonight at 12 p.m. PT, you can still access deals on a vast selection of school supplies, electronics, clothing, and more. $29.99 from Amazon Originally $39.99 Save 25%Deal icon An icon in the shape of a lightning bolt. Deal Amazon Basics Primary Composition Notebooks (Pack of 3) These composition notebooks have a ruled design that's ideal for practicing penmanship. $99.99 from Amazon Originally $129.99 Save 23%Back-to-school deals for teachersDeal icon An icon in the shape of a lightning bolt.

Persons: Bento, it's, bento, you've, Herschel, It's, Price Organizations: Amazon, OmieGo, Hydro, Herschel Supply, Prime, Deal Texas, TI, Amazon Deal, Deal Oxford, Supplies, HP, Fire, Price Logitech, Lightspeed, Logitech, AAA, OSHA, IRIS

☆ Dutch light chips company Smart Photonics gets $110 mln in debt funding
▼ + stars: | 2023-07-12 | by ( ) www.reuters.com time to read: +1 min

AMSTERDAM, July 12 (Reuters) - Smart Photonics, a Dutch company targeting the market for photonic computer chips, said on Wednesday it has received 100 million euros ($110 million) in debt funding. The money includes 60 million euros from a Dutch government fund and 40 million from industry players including chip equipment giant ASML and chipmaker NXP, both based in the Netherlands. Photonic chips use particles of light to complete circuits and transmit information, rather than the electrons used in computer chips and electronics. "With this new round of funding, SMART Photonics will be able to strengthen its role as the leading manufacturer of next generation chips in a growing, resilient European photonic value chain," it said in a statement. Smart Photonics is seeking to become a foundry, or contract manufacturer of photonic chips for companies that design but do not manufacture such chips.

Persons: chipmaker NXP, VDL, Toby Sterling, Louise Heavens Organizations: Smart Photonics, SMART Photonics, Thomson Locations: AMSTERDAM, Dutch, Netherlands

Online sales for appliances jumped 37% compared to average daily sales in June, while sales of toys rose 27%. Data firm Numerator said the average Prime Day spend per order rose to $56.64 from $53.14 a year ago. Rival retailers, including Walmart (WMT.N), Target (TGT.N) and Best Buy (BBY.N), are also offering large discounts during the Prime Day week. Data from Deloitte showed 69% of shoppers planned to rely on Prime Day sale for back-to-school purchases. Meanwhile, nearly 900 Amazon workers at a warehouse in Coventry, in Britain are striking over a pay dispute for three days from July 11-13, coinciding with the Prime Day sales event.

Persons: Vivek Pandya, Adobe's Pandey, Granth Vanaik, Ananya Mariam Rajesh, Arun Koyyur Organizations: Amazon, Walmart, Adobe, Insights, Apparel, Deloitte, Thomson Locations: Coventry, Britain, Bengaluru

☆ Temu is baiting Amazon with 90% Prime Day discounts. Amazon wants nothing to do with the Chinese site.
▼ + stars: | 2023-07-12 | by ( Jennifer Ortakales Dawkins | ) www.businessinsider.com time to read: +3 min

Temu may have better deals than Amazon during Prime Day. Prime Day shoppers may find lower prices on Temu. On Temu, it seems like every day is "Prime Day." Temu added nearly 10 million new daily users this year and now has about 16.5 million users, Intelligence firm GWS found. The firm also saw a decline in Amazon's daily app from 54 million to 46 million users daily.

Persons: isn't, Temu, GWS, Jason Del Rey, Paul Carter Organizations: Prime, Reuters, Amazon, PDD Holdings, Bloomberg, Intelligence, Bank of America, Walmart Locations: GVM

Foxconn (2317.TW) withdrew from the JV with the Indian metals-to-oil conglomerate on Monday, in a setback to Prime Minister Narendra Modi's chipmaking plans for India. "Foxconn is committed to India and sees the country successfully establishing a robust semiconductor manufacturing ecosystem." India expects its semiconductor market to be worth $63 billion by 2026, but Modi's plan has so far floundered. The $3 billion ISMC project is stalled because Tower is being acquired by Intel, while another $3 billion plan by IGSS was also halted because it wanted to re-submit its application, Reuters has reported. Like Foxconn, the Indian government has said the breakup of the JV had "no impact" on India's semiconductor plans, adding that both companies were "valued investors" in the country.

Persons: India Foxconn, Foxconn, Narendra Modi's chipmaking, Modi, IGSS, Ann Wang, Vedanta, Anil Agarwal, Vedanta's, Yimou Lee, Ben Blanchard, Tanvi Mehta, Aditya Kalra, Jacqueline Wong, Sonali Paul, Alexander Smith Organizations: India, JV, Vedanta, TW, Semiconductors, IGSS Ventures, ISMC, Intel, Reuters, REUTERS, Vedanta's, Vedanta Ltd, Vedanta Resources, Thomson Locations: chipmaking, India, TAIPEI, MUMBAI, Singapore, New Taipei City, Taiwan, Vedanta's India, Vedanta's London, Taipei, Mumbai, New Delhi, Pandya, Bengaluru

☆ India's Vedanta slips after Foxconn pulls out of semiconductor JV
▼ + stars: | 2023-07-11 | by ( ) www.reuters.com time to read: +1 min

BENGALURU, July 11 (Reuters) - India's Vedanta (VDAN.NS) fell over 2% on Tuesday, a day after Taiwan's Foxconn (2317.TW) said it withdrew from a $19.5 billion semiconductor joint venture with the metals-to-oil conglomerate. The companies partnered last year to set up semiconductor and display production plants in Gujarat state. S&P Global Ratings said that Vedanta's planned semiconductor business does not increase immediate liquidity pressure, adding that it believes there is no immediate sizable funding commitment for the semiconductor project, pending government approval. The Securities and Exchange Board of India (SEBI), the country's market regulator, had imposed a 3 million rupee($36,430.76) fine nearly two weeks ago on Vedanta for disclosure requirement violations regarding the Foxconn venture. Shares of Vedanta fell as much as 2.6% to 275 rupees apiece, after having already fallen over 24% as of last close, since the partnership was announced in February last year.

Persons: Taiwan's Foxconn, Narendra Modi's chipmaking, Varun Vyas, Dhanya Ann Thoppil, Sonia Cheema Organizations: Reuters, Indian, Securities, Exchange Board of India, Vedanta, Thomson Locations: BENGALURU, Gujarat, Bengaluru

☆ From a failed $20 billion joint venture to stalled projects, India's dreams of becoming a chipmaking powerhouse are off to a bad start
▼ + stars: | 2023-07-11 | by ( Huileng Tan | ) www.businessinsider.com time to read: +4 min

Foxconn said Monday it's scrapping a $20 billion JV with Indian conglomerate Vedanta to make semiconductors. Other plans to boost India's chipmaking sectors are also progressing slowly. The two companies signed an agreement in February 2022 to form a joint venture, or JV, to manufacture semiconductors in India. Apart from Foxconn abandoning its JV with Vedanta, two other chipmaking ventures are also in limbo. A $3 billion venture under global consortium ISMC — which counts Israel's Tower Semiconductor as a partner — has stalled, as Tower is in the process of being acquired by tech bigwig Intel, Reuters reported on June 1.

Persons: Foxconn, Narendra Modi's, Taiwan's Foxconn, Apple —, Narendra Modi, —, hasn't, Rajeev Chandrasekhar, editorializing abt, Modi Organizations: Vedanta, Indian, Morning, Apple, JV, Hai Technology Group, Taiwan Stock Exchange, Taiwan Semiconductor Manufacturing Company, ISMC, Semiconductor, Intel, Reuters, Micron, JV Vedanta, India Locations: India, Taiwan, China, Gujarat, Taiwan Straits, Singapore, Indias

☆ Foxconn's push to break into semiconductor sector
▼ + stars: | 2023-07-11 | by ( ) www.reuters.com time to read: +2 min

July 11 (Reuters) - Taiwan's Foxconn (2317.TW) said on Monday it had withdrawn from a $19.5 billion semiconductor joint venture with Indian metals-to-oil conglomerate Vedanta (VDAN.NS), in a setback to Prime Minister Narendra Modi's chipmaking plans for India. Here is a timeline with key moves in Foxconn's efforts to get into chip making:MAY 2021Foxconn forms a joint venture with Yageo Corp (2327.TW) to expand its presence in the semiconductor industry. JUNE 2023Carmaker Stellantis (STLAM.MI) and Foxconn create a 50-50 joint venture to design and sell semiconductors for the automotive industry from 2026. The joint venture, called SiliconAuto, will supply Stellantis, including its new 'STLA Brain' electronic and software architecture, Foxconn and other customers. JULY 2023Foxconn withdraws from semiconductor joint venture with Vedanta.

Persons: Foxconn, Narendra Modi's chipmaking, Chiang Shang, Taiwan's TSMC, Carmaker, Ben Blanchard, Sonai Paul Organizations: Vedanta, Yageo Corp, Taiwan chipmaker Macronix, Tsinghua, Thomson Locations: India, Taiwan, Indian, Gujarat, Tsinghua Unigroup

☆ IBM mulls using its own AI chip in new cloud service to lower costs
▼ + stars: | 2023-07-11 | by ( Stephen Nellis | ) www.reuters.com time to read: +2 min

IBM is hoping to take advantage of the boom in generative AI technologies that can write human-like text more than a decade after Watson, its first major AI system, failed to gain market traction. One of the barriers the old Watson system faced was high costs, which IBM is hoping to address this time. Khare said using its own chips could lower cloud service costs because they are very power efficient. IBM has joined other tech giants such as Alphabet's (GOOGL.O) Google and Amazon.com (AMZN.O) in designing its own AI chips. Instead, IBM's chip aims to be cost-efficient at what AI industry insiders call inference, which is the process of putting an already trained AI system to use making real-world decisions.

Persons: Mukesh Khare, Watson, Khare, Stephen Nellis, Jamie Freed Organizations: FRANCISCO, Business Machines, IBM, Reuters, IBM Semiconductors, Artificial Intelligence, Samsung Electronics, Google, Nvidia, Thomson Locations: San Francisco, watsonx

Top 5 Prime Day hard drive and memory card dealsThe best Prime Day SSD dealsWD_BLACK SN770 NVMe Internal Gaming SSD. Deal Seagate Portable 4TB External Hard Drive This portable Seagate hard drive can hold up to 4TB of data, which is enough for thousands of files. Deal Seagate Portable 5TB External Hard Drive This Seagate hard drive lets you store thousands of photos, songs, files, and apps in a portable package. Deal Seagate ST8000NT001 IronWolf Pro 8TB Internal HDD Hard Drive This internal Seagate hard drive is massive and sturdy, perfect for users handling big files. Deal Seagate ST8000DM008 BarraCuda 8TB Internal Hard Drive The BarraCuda is Seagate's flagship internal hard drive brand, and offers massive storage space at fast speeds.

Persons: Price, 4TB, it's, It’s, xD Organizations: Amazon, Lexar, Western Digital, PlayStation, Seagate, Nintendo, Western, Samsung, Price, PRO, Secure Digital Locations: Seagate

☆ Amazon charts its own course on A.I., leaning on its strengths in cloud and e-commerce
▼ + stars: | 2023-07-11 | by ( Paulina Likos | ) www.cnbc.com time to read: +10 min

AI in advertising Amazon is not only differentiating its gen AI strategy by leveraging the cloud, but it's also incorporating AI in e-commerce to support its ad business. Amazon Prime Day Amazon Prime Day, the global shopping event that attracts consumers seeking huge cost-saving deals, on a variety of products will be held July 11 and 12 in 24 countries. Coupled with the cloud, e-commerce is the other big piece of what Amazon is all about. The 48-hour event is expected to bring in $8 billion in U.S. e-commerce sales, according to data by Insider Intelligence. Still, Insider Intelligence data shows Amazon Prime Day e-commerce sales will surpass that of competing retailers.

Persons: Andy Jassy, Scott Devitt, Devitt, Andrew Lipsman, it's, Lipsman, Sellers, Gene Munster, Jim Cramer's, Jim Cramer, Jim Organizations: Amazon Web Services, CNBC, Amazon, Microsoft, Nvidia, AWS, Insider Intelligence, Google, Deepwater Asset Management, Intelligence, Amazon CNBC Locations: U.S

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