Google lays off hundreds of workers as AI race heats up

Google lays off hundreds of workers as AI race heats up

Google will lay off several hundred workers across multiple parts of its business as the search giant shifts more resources toward the rapid development of artificial intelligence, the company confirmed Thursday. A few hundred employees were cut from Google’s core engineering team, the company said. Google also cut hundreds of workers from the division working…

Microsoft briefly surpasses Apple as world’s most valuable company

Microsoft briefly surpasses Apple as world’s most valuable company

Microsoft briefly overtook Apple as the world’s most valuable company after the iPhone maker began in 2024 with its worst start in years due to growing demand concerns. Shares of Microsoft rose 1.5% in early trading hours on Thursday, giving the company founded by Bill Gates a market cap of $2.88 trillion. The Redmond, Wash.-based company’s surge has…

Here’s what a bitcoin ETF actually means for investors

Here’s what a bitcoin ETF actually means for investors

Omar Marques | Lightrocket | Getty Images The U.S. Securities and Exchange Commission just approved the first-ever batch of spot bitcoin exchange-traded funds to come out of the U.S. The agency gave the green light on Wednesday to sponsors of 10 ETFs, including BlackRock, Invesco, Fidelity, Grayscale, and Ark Invest — paving the way for…

Ether prices spike on hopes of an ETF — but the SEC signals that’s less clear cut than bitcoin

Ether prices spike on hopes of an ETF — but the SEC signals that’s less clear cut than bitcoin

St. Moritz, SWITZERLAND — U.S. Securities and Exchange Chair Gary Gensler fired warning shots to the crypto industry, casting doubt over whether digital coin ether would follow next in the footsteps of bitcoin to receive approval for an exchange-traded fund. After the bitcoin ETF approval, prices for ether — the token linked with Ethereum —…

Scaramucci says he plans to buy U.S. bitcoin ETF, 2023 was the best year for his crypto funds

Scaramucci says he plans to buy U.S. bitcoin ETF, 2023 was the best year for his crypto funds

Anthony Scaramucci, founder and CEO of SkyBridge Capital, said Thursday that the U.S. Securities and Exchange Commission’s approval of the first spot bitcoin exchange traded funds should be viewed as a watershed moment for bitcoin. Speaking to CNBC’s Arjun Kharpal in the Swiss ski town of St. Moritz, Scaramucci said his New York-based hedge fund unexpectedly…

How a $300 Million Flop Turned Into an Improbable Hit

How a $300 Million Flop Turned Into an Improbable Hit

Days after “Cyberpunk 2077” made its debut in December 2020, the much-hyped videogame was so buggy that Sony Group pulled it from its PlayStation store and players plastered social media with complaints of glitches.  The misfire surprised gamers partly because “Cyberpunk 2077,” featuring actor Keanu Reeves, was one of the most expensive games ever released….

China’s Solar Dominance Faces New Rival: An Ultrathin Film

China’s Solar Dominance Faces New Rival: An Ultrathin Film

Updated Jan. 11, 2024 1:00 am ET TOKYO—China’s near-monopoly on the solar-energy market has prompted the U.S. and allies to step up the search for workarounds. Engineers believe they have found one in a type of solar cell that looks and feels like camera film. Japan is pushing the technology with subsidies and other support,…

China’s EV stocks start 2024 in reverse gear as price wars pressure profitability

China’s EV stocks start 2024 in reverse gear as price wars pressure profitability

A BYD Seagull small electric car is on display during the 20th Shanghai International Automobile Industry Exhibition at the National Exhibition and Convention Center (Shanghai) Vcg | Visual China Group | Getty Images Shares of Chinese electric car makers have started the new year in reverse gear, as intense competition and continuing price wars pressure…