Month: August 2023

Following a roughly 33% decline in 2022, the Nasdaq Composite ($NASX) has bounced back quite nicely in 2023. Fueled by optimism over the rising prevalence of artificial intelligence (AI), the tech-heavy index recorded its strongest first-half gains in four decades. However, the Nasdaq has pulled back since peaking in mid-July, pressured by a mixed earnings season and concerns over the prospect of additional rate hikes. While the index has recovered from its August lows, it’s still off about 2% from its July highs. That’s why it’s so notable that the three tech stocks below managed to break out… Read More “3 Standout Tech Stocks That Hit New Highs in August”

We’ve had AI assistants in smart speakers, phones, TVs, and even cars. But in your backpack? This is new territory, and Microsoft is staking out a claim via a new patent. As spotted by Neowin, the patent in question was filed on May 2. “The description relates to artificial intelligence assisted wearables, such as backpacks,” the patent reads. “An example backpack may include sensors, such as a microphone and a camera. The backpack may receive a contextual voice command from a user.” The patent goes on to show a rather jaunty skier considering going off trail, and the backpack advising him not… Read More “Microsoft’s proposed ‘AI backpack’ is a dumb, fun idea”

Qualcomm Inc (NASDAQ: QCOM) is leveraging the power of generative artificial intelligence (AI) to expand its automotive chip business and offer innovative scenarios to automakers. The company, renowned for its chips and modems found in Android phones, has been actively selling its Snapdragon Digital Chassis, a combination of hardware chips, sensors, and software, to automakers including General Motors Co (NYSE: GM), Hyundai Motor Co, Ltd (OTC: HYMTF), and Volvo Car AB (OTC: VLVOF), CNBC reports. Also Read:AI and Connectivity Drive Qualcomm’s Growth: Analyst Eyes Flourishing Prospects Amidst In… Read More “Qualcomm’s Accelerating Ambitions: Steering the Automotive Toward a High-Tech Future”

Olatunji added that the commission was working on a Memorandum of Understanding that would guide activities in the sector, among other engagements. The Federal Government on Thursday says it is committed to the protection of digital platforms to build the confidence of the citizens while online.Dr Bosun Tijani, Minister of Communications,Innovation and Digital Economy made the commitment at a 2-day sensitisation workshop on Data Privacy and Protection in Abuja. The workshop,organised by the Nigeria Data Protection Commission (NDPC), targeted to sensitise the public on the requirements of the N… Read More “FG committed to protection of digital platforms – Tijani”

Today’s top stories concerning Costco Wholesale Corporation (NASDAQ: COST) highlight the intensifying competition the retail giant faces from Target, Amazon, and Walmart in various sectors, from groceries to online shopping. Grocery Dive on Target: Target Corp (NYSE: TGT) is spicing up its fall offerings with a range of apple and pumpkin-flavored products, such as apple pie-filled cookies and apple cider donuts. Last autumn, Target’s cookie sales were so robust that they could have supplied every attendee of the 2023 Super Bowl with 85 boxes each. The retailer’s food and beverage sector has be… Read More “Costco’s Competitive Landscape: Target, Amazon, and Walmart Up Their Game”

(Reuters) – Broadcom forecast fourth-quarter revenue slightly below Wall Street estimates on Thursday, on worries bleak enterprise spending and stiff competition in the networking chip space will outweigh benefits from a boom in artificial intelligence-led demand. Shares of the San Jose, California-based company fell 3.4% in extended trading. Soft enterprise demand, coupled with slower-than-expected recovery in consumer electronics markets such as smartphones, has also taken a toll on Broadcom’s semiconductor business. The entire software industry is feeling the pain of slashed IT budgets acro… Read More “Broadcom forecasts quarterly revenue below expectations on broader demand weakness”

(Reuters) – Broadcom forecast fourth-quarter revenue slightly below Wall Street estimates on Thursday, on worries bleak enterprise spending and stiff competition in the networking chip space will outweigh benefits from a boom in artificial intelligence-led demand. Shares of the San Jose, California-based company fell 3.4% in extended trading. Soft enterprise demand, coupled with slower-than-expected recovery in consumer electronics markets such as smartphones, has also taken a toll on Broadcom’s semiconductor business. The entire software industry is feeling the pain of slashed IT budgets acro… Read More “Broadcom forecasts quarterly revenue below expectations on broader demand weakness”

The tiny, almost unknown, Caribbean island of Anguilla is poised to reshape its economic landscape through an unexpected ally — artificial intelligence. This sun-soaked island with a population of about 15,000 people, spanning 35 square miles and nestled in proximity to Puerto Rico and the British Virgin Islands, is on the brink of experiencing an economic windfall like never before in its history, all thanks to the remarkable rise of AI technologies. The catalyst behind this transformation is an unassuming aspect of the digital World — internet domain names. Since 1990, Anguilla has managed t… Read More “How A 35-Square-Mile Caribbean Island Just Found Its Own El Dorado Thanks To AI”

By Zaheer Kachwala (Reuters) – Dell Technologies raised its full-year forecast for revenue and profit on Thursday, as it benefited from the artificial intelligence (AI) boom and stabilizing demand for computer hardware and server products after a months-long slump. Shares of the Round Rock, Texas-based company rose 8% in extended trading. The results are the latest sign that a downturn in tech spending could be drawing to a close after major networking equipment provider Cisco also beat quarterly revenue estimates. The company is expected to see a demand boost for its PowerEdge servers and gen… Read More “Dell raises full-year forecasts on AI strength, demand recovery”

By Zaheer Kachwala (Reuters) – Dell Technologies raised its full-year forecast for revenue and profit on Thursday, as it benefited from the artificial intelligence (AI) boom and stabilizing demand for computer hardware and server products after a months-long slump. Shares of the Round Rock, Texas-based company rose 8% in extended trading. The results are the latest sign that a downturn in tech spending could be drawing to a close after major networking equipment provider Cisco also beat quarterly revenue estimates. The company is expected to see a demand boost for its PowerEdge servers and gen… Read More “Dell raises full-year forecasts on AI strength, demand recovery”