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IBM Stops Hiring People for Some Jobs AI Can Do 

May 2, 2023

IBM will halt hiring in non-customer-facing positions that could be carried out by artificial intelligence, the company’s CEO Arvind Krishna told Bloomberg.  Krishna said the job cuts will primarily affect roles such…

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AI to Affect ‘Every Product of Every Company’ —Google’s Pichai 

April 17, 2023

Alphabet CEO Sundar Pichai said society will need to adapt to the new capabilities of AI, and “every product of every company” will be impacted by the technology.  Pichai talked at length…

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FTC Warns Tech Companies Over AI Claims 

February 28, 2023

The Federal Trade Commission has warned technology companies in the United States it intends to crack down on overstated artificial intelligence claims.  The FTC, which promotes consumer rights, has released a statement…

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AMD Beats Expectations as Fellow Chipmakers Struggle 

February 1, 2023

AMD reported better than expected earnings this week, bucking the trend as fellow chipmakers struggle.  The company’s fourth quarter results beat Wall Street expectations for both sales and profit, but did warn…

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IBM Beats Revenue Estimates, Announces 3,900 Layoffs 

January 26, 2023

IBM’s quarterly revenue beat analyst estimates this week, as the company enjoyed higher than expected growth in its software and infrastructure segments. But it was also revealed the tech giant plans to…

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U.S. Accuses Google of Abusing Ad Tech Monopoly 

January 25, 2023

The U.S. Justice Department and eight states have sued Google this week, claiming the company had illegally abused a monopoly over the technology behind online advertising.  Google’s anti-competitive actions “weakened if not…

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Activist Investor Elliott Takes Multi-Billion Dollar Stake in Salesforce 

January 23, 2023

Activist investor Elliott Investment Management has taken a substantial stake in Salesforce, amid job cuts and a hefty fall in share price at the software company.  According to multiple reports, Elliott took…

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Microsoft to Lay Off 10,000 Employees 

January 19, 2023

Microsoft will lay off 10,000 employees as part of cost-cutting measures, the company said in a securities filing this week.  The company became the latest tech giant to announce massive job losses,…

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Microsoft Plans $10bn ChatGPT Investment – Report 

January 10, 2023

Microsoft is reportedly planning to invest $10 billion in OpenAI, the company behind the artificial intelligence tool ChatGPT.  A report from Semafor suggests the investment is part of a funding round with…

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Retailers Set New Black Friday Sales Record 

November 28, 2022

Retailers in the United States enjoyed record-setting online sales on Black Friday, despite concerns over inflated prices and a looming recession.  Consumers spent $9.12 billion on Friday, according to Adobe Analytics, an…

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Investment Roundup

Saudi Startup Foodics Gets $20m Cash Injection

Saudi Arabian firm Foodics, which has created an all-in-one restaurant

The Exit Report

Israel’s YL Ventures Sells Axonius Stake for $270m, Just a Week After Unicorn Valuation

Israeli venture capital fund YL Ventures has sold its stake in compatriot

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