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July 26 (Reuters) - Electronic components maker Amphenol (APH.N) forecast third-quarter revenue above market estimates on Wednesday on optimism over demand from commercial air, military and automotive markets, sending its shares up more than 3% in early trading. The company expects third-quarter sales to be between $3.04 billion and $3.10 billion, while analysts estimated $3.09 billion, according to Refinitiv. Its profit forecast of 72 cents to 74 cents per share was in line with analysts' estimates. Amphenol, which manufactures products including sensors, antennas, cables and connectors, posted revenue of $3.05 billion for the second quarter ended June 30, compared with estimates of $2.95 billion. Its profit came in at 72 cents per share, higher than expectations of 68 cents.
Persons: Jaspreet Singh, Shinjini Organizations: Companies, Thomson Locations: Bengaluru
July 25 (Reuters) - Specialty glass maker Corning (GLW.N) forecast third-quarter core sales below Wall Street estimates on Tuesday, as it grapples with the ongoing slump in the consumer electronics market. Corning said it expects core sales of about $3.5 billion in the three months ending September, compared with analysts' estimates of $3.70 billion, according to data from Refinitiv. Shares of Corning, whose Gorilla glass for smartphones is used by companies such as Apple (AAPL.O) and Samsung Electronics (005930.KS), were down nearly 1.5% before the bell. "We expect to continue improving profitability and cash flow despite our relatively muted sales environment," said CEO Wendell Weeks. Corning posted an adjusted profit of 45 cents per share, just short of the 46 cents estimated by analysts.
Persons: Corning, Wendell Weeks, Jaspreet Singh, Krishna Chandra Organizations: Refinitiv, Apple, Samsung Electronics, Thomson Locations: Corning, Bengaluru
ChatGPT now on Android in some countries including US
  + stars: | 2023-07-25 | by ( ) www.reuters.com   time to read: +1 min
July 25 (Reuters) - ChatGPT is now available for Android users in the United States, India, Bangladesh and Brazil, the viral chatbot's owner OpenAI said on Tuesday, as it looks to take advantage of the popularity of the artificial intelligence tool. As AI becomes widely used in tasks such as content writing to coding, San Francisco-based OpenAI announced ChatGPT for Android last week to further expand its user base. ChatGPT, which was launched by the Sam Altman-led company in November last year, has been available on Apple's (AAPL.O) iOS platform since May. The viral success of ChatGPT has triggered a wave of enthusiasm in AI, prompting companies such as Microsoft (MSFT.O) and Google-parent Alphabet (GOOGL.O) to pour billions of dollars into the technology. OpenAI said it would expand the rollout on Android to additional countries over the next week.
Persons: OpenAI, Sam Altman, ChatGPT, Jaspreet Singh, Anil D'Silva Organizations: Android, Microsoft, Google, Thomson Locations: United States, India, Bangladesh, Brazil, Francisco, Bengaluru
July 24 (Reuters) - Applied Digital (APLD.O) forecast annual revenue above market estimates on Monday, as the rise of artificial intelligence drives up demand for its data center services, sending the company's shares 18% higher in early trading. "We will accelerate our focus on non-crypto use cases and leverage capabilities of our next-generation proprietary data center assets for HPC applications," said CEO Wes Cummins. The company expects annual revenue in the range of $385 million to $405 million, compared with analysts' average expectations of $308.8 million, according to Refinitiv data. The company reported revenue of $22 million for the three months to May 31, compared with analysts' average estimate of $26.4 million. Its loss per share was 7 cents, compared with 4 cents a year earlier.
Persons: Wes Cummins, Jaspreet Singh, Shilpi Majumdar Organizations: Applied Digital, Thomson Locations: Bengaluru
July 17 (Reuters) - Investments in space startups stayed flat in the second quarter, a positive sign for a sector that faced a funding slump over the past few quarters due to the grim economic outlook, a report by venture capital firm Space Capital showed. The April-June period saw $6 billion in investments in 91 firms, compared with $2.2 billion in the previous three months and $5.9 billion a year earlier, the report, released on Monday, stated. That marks a big improvement from declines of 53% and 52% in the first quarter and 2022, respectively. "The era of free money is over and companies are beginning to adapt to this new normal," Space Capital said, adding that the pickup in financial markets has helped the space industry. Reporting by Akash Sriram and Jaspreet Singh in Bengaluru; Editing by Pooja DesaiOur Standards: The Thomson Reuters Trust Principles.
Persons: Chad Anderson, Akash Sriram, Jaspreet Singh, Pooja Desai Organizations: Space, Reuters, Federal, Nasdaq, Thomson Locations: Bengaluru
Twitter, ChatGPT back up after brief outage
  + stars: | 2023-07-12 | by ( ) www.reuters.com   time to read: 1 min
July 12 (Reuters) - Twitter services recovered after a brief outage on Wednesday, according to outage tracking website Downdetector.com, while OpenAI said logins for its viral chatbot ChatGPT were starting to work. OpenAI said some ChatGPT logins had started to work. It later said there was an issue where some users received a "Failed to get service status" error. Downdetector tracks outages by collating status reports from a number of sources, including user-submitted errors, on its platform. Twitter did not immediately respond to a Reuters request for comment.
Persons: OpenAI, Downdetector, logins, Jaspreet Singh, Pooja Desai Organizations: Elon Musk, Twitter, Thomson Locations: Bengaluru
July 11 (Reuters) - Several Canadian companies and government agencies have stopped advertising on Facebook and Instagram after Meta Platforms (META.O) decided to stop news access on the apps over a law that requires payments to local news publishers. The "Online News Act", which was approved by the Canadian parliament and received a royal assent on June 22, prompted a similar response from Google-parent Alphabet (GOOGL.O). Below is a list of companies that have paused advertising on Meta's social media platforms:Reporting by Tanya Jain and Jaspreet Singh in Bengaluru; Editing by Shilpi MajumdarOur Standards: The Thomson Reuters Trust Principles.
Persons: Tanya Jain, Jaspreet Singh, Shilpi Majumdar Organizations: Facebook, Meta, Google, Thomson Locations: Bengaluru
Trump-tied SPAC Digital World names Swider as permanent CEO
  + stars: | 2023-07-11 | by ( ) www.reuters.com   time to read: +1 min
July 11 (Reuters) - Digital World Acquisition (DWAC.O) has named Eric Swider as CEO, handing the interim boss reins of the blank-check company that is looking to complete its planned merger with former U.S. President Donald Trump's media and tech company. The move comes nearly four months after the special-purpose acquisition company (SPAC) ousted CEO Patrick Orlando, saying that a new management team was needed to tackle "unprecedented headwinds". Swider said on Monday the company's focus will continue to be on completing the merger with TMTG, as it is the "best option for shareholders". DWAC shares were up around 1% in premarket trading. Reporting by Jaspreet Singh in Bengaluru; Editing by Maju SamuelOur Standards: The Thomson Reuters Trust Principles.
Persons: Eric Swider, Donald Trump's, Patrick Orlando, DWAC, Swider, Jaspreet Singh, Maju Samuel Organizations: U.S, Trump Media & Technology, Justice Department, Securities and Exchange Commission, TMTG, Thomson Locations: Bengaluru
Activision shares surged 10% on the day, as the U.S. and Britain have been the two countries opposed to what would be Microsoft's biggest deal ever and the largest transaction in the videogame industry's history. Microsoft shares rose 64 cents to $332.47. Microsoft logo is seen on a smartphone placed on displayed Activision Blizzard's games characters in this illustration taken January 18, 2022. "It does seem like the Microsoft and the CMA could work out a deal within the next couple of weeks," said D.A. The FTC's complaint had cited concerns about loss of competition in console gaming, as well as subscriptions and cloud gaming.
Persons: Jacqueline Scott Corley, , Joost Van Dreunen, University's, Corley, Douglas Farrar, we'll, Dado Ruvic, Biden, Brad Smith, Franco Granda, Satya Nadella, Diane Bartz, David Shepardson, Jaspreet Singh, Aditya Soni, Chris Sanders, Caitlin Webber, Matthew Lewis David Gregorio, Muralikumar Organizations: Activision, Microsoft, Biden, U.S, Markets Authority, University's Stern School of Business, U.S . Federal Trade Commission, Nintendo, Sony Group, FTC, Sony PlayStation, REUTERS, FOCUS Gaming, CMA, Davidson &, PlayStation, Thomson Locations: WASHINGTON, U.S, British, Britain, San Francisco, New, Washington, Bengaluru
US layoffs halve in June as tech job cuts ease - report
  + stars: | 2023-07-06 | by ( ) www.reuters.com   time to read: +2 min
Despite the drop in job cuts in the month, layoffs in June were higher than the corresponding month a year earlier, the report said. Technology companies continue to lead job cut announcements with 141,516 layoffs in the first half of the year, compared with about 6,000 in the same period last year. The sector laid off nearly 5,000 employees last month, the report said. After a round of multiple rate hikes, the Fed unanimously kept its interest rates steady at the central bank's June meeting that could freeze layoffs and allay fears of employees. Reporting by Akash Sriram and Jaspreet Singh in Bengaluru; Editing by Maju SamuelOur Standards: The Thomson Reuters Trust Principles.
Persons: stoking, Andrew Challenger, Stuart Cole, Akash Sriram, Jaspreet Singh, Maju Samuel Organizations: Christmas Inc, Corporate America, Federal Reserve, Technology, Fed, Equiti, Thomson Locations: United States, Bengaluru
June 26 (Reuters) - Wolfspeed (WOLF.N) said on Monday that a group led by Apollo Global Management (APO.N) would make a debt investment of $1.25 billion in the chipmaker, with room for an additional $750 million, to support its U.S. expansion. Wolfspeed CEO Gregg Lowe said the financing would help "scale up near-term operations at our Mohawk Valley Fab and construction of our Siler City materials facility to help us capture the growing silicon carbide market opportunity." The company in September last year had announced a multi-billion-dollar investment in a factory in Chatham County, North Carolina to make raw materials for chips that power electric vehicles, among other things. The company has the option to pay the debt early, Wolfspeed said. (This story has been refiled to add dropped word in the headline)Reporting by Jaspreet Singh in Bengaluru Editing by Vinay DwivediOur Standards: The Thomson Reuters Trust Principles.
Persons: Gregg Lowe, Wolfspeed, Jaspreet Singh, Vinay Dwivedi Organizations: Apollo Global Management, Thomson Locations: Siler City, Chatham County , North Carolina, Bengaluru
Meta launches Quest+ subscription for VR headsets
  + stars: | 2023-06-26 | by ( ) www.reuters.com   time to read: +1 min
June 26 (Reuters) - Meta Platforms (META.O) on Monday launched Meta Quest+, a subscription-based service for its virtual reality (VR) headsets to shape a nascent but high-investment market. Chief Executive Mark Zuckerberg, in a broadcast channel on social media app Instagram, said the Meta Quest+ subscription will be available from Monday at $7.99 per month, or $59.99 annually, for its Quest 2, Pro and soon for Quest 3. Apple (AAPL.O) has entered the market dominated by Meta, showcasing its $3,499 augmented reality headset called the Vision Pro. The social media company's flagship VR headset Meta Quest Pro is currently priced at $999.99, down from its launch price of $1,499.99, and Quest 2 is being sold for $299.99, according to Meta's website. Termed as the next big thing, the adoption of virtual reality headsets has been limited to the gaming community despite the devices now having more advanced features.
Persons: Mark Zuckerberg, Jaspreet Singh, Krishna Chandra Organizations: Quest, Apple, Meta, Thomson Locations: Bengaluru
June 21 (Reuters) - Technology trade groups as well as Alphabet's (GOOGL.O) Google have griped to the Federal Trade Commission about allegedly unfair business practices in the cloud, including by the industry's No. 2 by market share Microsoft (MSFT.O). They also follow scrutiny worldwide, including a recent probe by Europe's antitrust authority into Microsoft's licensing agreements that allegedly discouraged rival cloud usage. In one example of the public comments Tuesday, trade group NetChoice took aim at Microsoft and Oracle (ORCL.N). Google echoed the sentiment in its own filing, saying that "licensing terms enforced by Microsoft, Oracle, and other legacy on-premises software providers distort competition in the cloud."
Persons: NetChoice, Urvi Dugar, Jeffrey Dastin, Jaspreet Singh, Krishna Chandra Eluri, Christopher Cushing Organizations: Technology, Google, Federal Trade Commission, Microsoft, U.S, Oracle, Thomson Locations: Bengaluru, Palo Alto, Calif
June 21 (Reuters) - Alphabet's (GOOGL.O) Google formally filed a complaint to the U.S. Federal Trade Commission on Tuesday saying Microsoft (MSFT.O) used its dominant position in enterprise software to push customers towards its cloud services, The Information reported on Wednesday. There is intense rivalry between the two U.S. tech giants in the fast-growing, multi-billion-dollar cloud computing business, where Google trails market leaders Amazon.com (AMZN.O) and Microsoft. In March, Google Cloud had accused Microsoft of anti-competitive cloud computing practices and criticized imminent deals with several European cloud vendors, saying these do not solve broader concerns about its licensing terms. Earlier this year, the FTC had said it is seeking information from the public on the business practices of cloud computing companies, including details on their market power, competition and potential security issues. Google and Microsoft did not immediately respond to Reuters' requests for comment, while the FTC declined to comment.
Persons: Google Cloud, Urvi Dugar, Jaspreet Singh, Krishna Chandra Organizations: Google, U.S . Federal Trade Commission, Microsoft, FTC, Thomson Locations: United States, Britain, Bengaluru
TikTok and Candle Media strike deal to co-create content
  + stars: | 2023-06-20 | by ( ) www.reuters.com   time to read: +1 min
June 20 (Reuters) - TikTok and Blackstone-backed Candle Media will co-create content and branded entertainment as part of a broad strategic partnership in the United States, the companies said on Tuesday. A key piece of the partnership will be Hello Sunshine, Reese Witherspoon's company that Candle acquired in 2021. TikTok, owned by China's ByteDance, will also allow advertisers purchase advertisements directly adjacent to Candle content and share that ad revenue as part of the tie-up. Candle Media was founded by former top Walt Disney (DIS.N) executives Kevin Mayer and Tom Staggs. Reporting by Jaspreet Singh in Bengaluru; Editing by Krishna Chandra EluriOur Standards: The Thomson Reuters Trust Principles.
Persons: Reese Witherspoon's, TikTok, HBO's, hashtag, China's ByteDance, Kevin Mayer, Tom Staggs, Jaspreet Singh, Krishna Chandra Organizations: Blackstone, Media, Walt Disney, Thomson Locations: United States, Bengaluru
June 16 (Reuters) - General Motors (GM.N) and Ford (F.N) have in recent weeks said they would allow their electric-vehicle customers to use Tesla's (TSLA.O) charging network, in a move that could make the Elon Musk-led company's superchargers the industry standard. Tesla's North American Charging Standard (NACS) is more widely available and reliable than rival charging network CCS, which is backed by automakers such as Volkswagen (VOWG_p.DE) and Hyundai Motor (005380.KS)Analysts and industry experts expect more makers of EVs and chargers to forge partnerships with Tesla as they look to take advantage of its several thousand charging stations in the United States. Here is a list of the companies adopting NACS:Reporting by Akash Sriram and Jaspreet Singh in Bengaluru; Editing by Anil D'SilvaOur Standards: The Thomson Reuters Trust Principles.
Persons: company's, Tesla, Akash Sriram, Jaspreet Singh, Anil D'Silva Organizations: General Motors, Ford, Elon, CCS, Volkswagen, Hyundai, Thomson Locations: KS, United States, Bengaluru
June 15 (Reuters) - Canadian companies across industries have laid off thousands in recent months as a post-pandemic spending splurge fades and rising interest rates fan fears of a possible recession. The cuts mirror the tens of thousands of layoffs seen in the United States, where major companies such as Meta Platforms (META.O) have carried out multiple rounds of retrenchment. Here are some of the job cuts in Canada in recent months:Reporting by Tiyashi Datta and Jaspreet Singh in Bengaluru; Editing by Maju SamuelOur Standards: The Thomson Reuters Trust Principles.
Persons: Tiyashi Datta, Jaspreet Singh, Maju Samuel Organizations: Thomson Locations: United States, Canada, Bengaluru
LinkedIn to test ad product for video streaming services
  + stars: | 2023-06-15 | by ( ) www.reuters.com   time to read: +1 min
June 15 (Reuters) - Microsoft Corp-owned (MSFT.O) LinkedIn said on Thursday it was working on a video advertising product that would allow marketers to target users of the professional networking site while they watch content on streaming services. This comes after LinkedIn introduced AI features to help advertisers write ad content, part of a strategy to expand its ads business at a time when economic uncertainties have hit advertising budgets. "In-stream video ads can change the way brands and buyers reach and engage their audiences," Penry Price, vice president of marketing solutions at LinkedIn, told Reuters. LinkedIn's revenue jumped 34% to $3.5 billion last year, helped by advertising demand and a strong job market. The company generates revenue from ad sales and subscriptions for recruiters, job seekers and sales professionals.
Persons: Price, Jaspreet Singh, Shilpi Majumdar Organizations: Microsoft Corp, Reuters, Thomson Locations: Bengaluru
June 13 (Reuters) - Synthesia, a UK-based artificial intelligence (AI) startup, said on Tuesday it has raised about $90 million at a valuation of $1 billion from a funding round led by venture capital firms Accel and Nvidia-owned (NVDA.O) NVentures. The startup's technology helps more than 50,000 businesses including Amazon.com (AMZN.O) in creating custom AI avatars used in instructional and corporate videos. AI startups have emerged as a bright spot for investments this year amid a wider slowdown in funding caused by rising interest rates and high inflation. However, the hype around AI has also deepened concerns that video platforms could be used to create deepfakes, a realistic or fabricated video or image created by AI algorithms trained on copious online footage. Riparbelli has said that six-year-old Synthesia navigates the issue by only creating avatars of people who have consented.
Persons: Victor Riparbelli, Riparbelli, Jaspreet Singh, Devika Organizations: Accel, Nvidia, Amazon.com, NVIDIA, Thomson Locations: Bengaluru
Subreddits such as r/Music, r/gaming, r/science and r/todayilearned - all with more than 30 million subscribers - are participating. Unlike most other social media platforms, Reddit is heavily dependent on community moderators, "or mods", who police their subreddits for free to weed out offensive or illegal content. What are third-party app developers saying? Elon Musk's Twitter in January restricted all third-party clients and apps and updated their rules for developers accessing its APIs. Reporting by Tiyashi Datta, Akash Sriram and Jaspreet Singh in Bengaluru; Editing by Devika SyamnathOur Standards: The Thomson Reuters Trust Principles.
Persons: Reddit, Steve Huffman, Christian Selig, Huffman, Elon, Tiyashi Datta, Akash Sriram, Jaspreet Singh, Devika Organizations: Apple Inc, Microsoft, New York Times, Elon Musk's Twitter, Twitter, Thomson Locations: Bengaluru
June 7 (Reuters) - Chad Rigetti, the founder of Rigetti Computing (RGTI.O), joined quantum technology-focused fund QDNL Participations as a partner, the venture capital firm said on Wednesday. Rigetti Computing started trading on Nasdaq in March 2022 after a merger with a blank-check company. Rigetti left the quantum computing firm backed by Y Combinator and Andreessen Horowitz late last year. Backed by Europe-based Quantum Delta NL foundation, QDNL Participations is a 15 million euro ($16.02 million) fund for early-stage Dutch quantum technology start-ups. Still, it is uncertain when these machines would be ready despite billions being poured into the technology, with big tech companies such as Alphabet (GOOGL.O), IBM (IBM.N) and Microsoft (MSFT.O) betting on this future computing technology.
Persons: Chad Rigetti, Rigetti, Y Combinator, Andreessen Horowitz, QDNL, Jaspreet Singh, Jane Lanhee Lee, Krishna Chandra Organizations: Rigetti Computing, Nasdaq, Delta, IBM, Microsoft, Thomson Locations: Europe, Bengaluru
June 6 (Reuters) - Apple (AAPL.O) did not once mention the word AI at its developers conference on Monday, but the iPhone-maker quietly added the technology that has taken Wall Street by storm to many of the features and updates it unveiled. The omission was in contrast to how other tech giants such as Alphabet-owned (GOOGL.O) Google and Microsoft (MSFT.O) have approached the hype recently, including talking about AI during earnings calls and at events on how they are embracing the technology. Instead, Apple used words such as "transformer language model", "machine learning" and "ML", when talking about the company's AI efforts. The company unveiled a costly augmented-reality headset called the Vision Pro, which uses AI, while also adding AI for smaller, incremental upgrades to some of its products and apps. Here are some of the products that received AI upgrades:Reporting by Yuvraj Malik, Chavi Mehta and Jaspreet Singh in BengaluruOur Standards: The Thomson Reuters Trust Principles.
Persons: Apple, Yuvraj Malik, Chavi Mehta, Jaspreet Singh Organizations: Google, Microsoft, Thomson Locations: Bengaluru
Microsoft 365 down for thousands of users - Downdetector
  + stars: | 2023-06-05 | by ( ) www.reuters.com   time to read: 1 min
June 5 (Reuters) - Microsoft Corp's (MSFT.O) product suite that includes Word and Excel was down for more than 15,000 users on Monday, according to outage tracking website Downdetector.com. "We're investigating an issue with accessing Outlook on the web," Microsoft tweeted. The company did not immediately respond to a Reuters request for comment on the outage reports on Microsoft 365. Microsoft services have faced at least three outages since the beginning of the year. Downdetector tracks outages by collating status reports from several sources including users.
Persons: Jaspreet Singh, Devika Organizations: Microsoft, Thomson Locations: Bengaluru
April 18 (Reuters) - Public broadcasters ranging from U.S.-based National Public Radio to Canadian Broadcasting Corp have stopped posting on Twitter in recent days after the Elon Musk-owned social media platform labeled their accounts as "government-funded". ** Canadian Broadcasting Corporation (CBC)CBC said on Monday it would pause its use of Twitter after the platform labeled it as "69% government-funded media". The Twitter label on the CBC account previously showed "70% government-funded media", but was changed to the current one after the CBC asked Twitter to re-examine the designation. ** Public Broadcasting Service (PBS)PBS, which has around 2.2 million followers on Twitter, halted publishing on Twitter after it was labeled as "government-funded media", according to media reports. ** Hawaii Public RadioHawaii Public Radio, a member station of NPR, said it would stop sharing its content on Twitter after the micro-blogging site labeled NPR's Twitter handle as "government-funded media".
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