Annual sales approach $100 million

Terran Orbital reported fourth-quarter results on Tuesday, posting annual revenue that more than doubled as the company continued to build its order backlog. The Irvine, Calif.-based company said its fourth-quarter revenue reached $31.9 million, up from $27.8 million in the third quarter. Terran Orbital delivered 19 satellites during the fourth quarter, including 10 under a … Read more

Nvidia announces technology to speed up chip design at AI conference

March 21 (Reuters) – Nvidia Corp’s (NVDA.O) chief executive Jensen Huang on Tuesday unveiled a new product to accelerate semiconductor design by deploying a range of new artificial intelligence technologies based on its chips and its software. Huang made the remarks at GTC, the company’s annual conference for software developers. Analysts are waiting for the … Read more

SVB’s collapse was ‘Lehman moment for technology’: Goldman Sachs

The Silicon Valley Bank collapse was “kind of like the Lehman moment for technology,” Cliff Marriott, co-head of European technology, media and telecommunications for the investment banking division, told CNBC on Tuesday. of Goldman Sach. SVB, a vital source of funding for tech startups and venture capitalists, has been shut down and taken over by … Read more

Cryptoverse: Bitcoin Passes Banking Stress Test

March 21 (Reuters) – As crisis grips the traditional world of stocks and bonds, bitcoin is suddenly looking like a safe haven. The infamously volatile cryptocurrency looks positively buoyant, much like a banking meltdown pushes markets into the arms of a recession. Bitcoin is up 21% this month, while a choppy S&P 500 lost 1.4% … Read more

Indonesia’s GoTo shares fall as 2022 loss hits $2.6 billion

Shares of Indonesia’s GoTo fell 2.78% in early trading on Tuesday after the company reported a bigger net loss in 2022. While the fourth-quarter 2022 adjusted EBITDA loss has improved, the company still lags peers such as Grab and Sea Limited, said DBS analyst Sachin Mittal. GoTo management had previously pledged costs, including two rounds … Read more

Amazon announces more layoffs, cutting 9,000 more jobs Inc. said it would cut 9,000 more jobs from the companies, including its profitable cloud computing and advertising businesses, a sign that the company’s cost-cutting is spreading to all aspects of its operations as tech giants continue to cut spending. Chief Executive Andy Jassy said in a statement that the company had recruited a … Read more

Virgin Orbit scrambles to avoid bankruptcy as talks continue

Virgin Orbit senior management held daily talks with potential investors throughout the weekend, people familiar with the matter told CNBC. A potential buyer balked at a proposed sale price of nearly $200 million, one person told CNBC — a price just below the company’s market value at Friday’s close. Meanwhile, contingency planning is underway for … Read more

Amazon shares down nearly 2% as another 9,000 layoffs are announced

Posted: Mar 20, 2023 10:54 a.m. ET Inc. is cutting an additional 9,000 jobs, the company announced Monday morning. The retailer’s stock is down nearly 2% in late morning trading. In a memo to staff, Amazon AMZN chief executive Andy Jassy said the cuts will take place over the next few weeks and will … Read more

OpenAI CEO Sam Altman says he’s “a little scared” of AI

Sam Altman, co-founder and CEO of OpenAI Inc., speaks at TechCrunch Disrupt 2019 in San Francisco, Calif., Thursday, October 3, 2019. David Paul Morris | Bloomberg | Getty Images OpenAI CEO Sam Altman said in a recent interview with ABC News that he’s “a bit scared” of AI technology and how it might affect the … Read more

Company to lay off 9,000 more workers

Andy Jassy, ​​CEO of Amazon.Com Inc., at the GeekWire Summit in Seattle, Washington, USA on Tuesday, October 5, 2021. david ryder | Bloomberg | Getty Images Amazon will lay off 9,000 more employees in the coming weeks, CEO Andy Jassy said in a memo to staff on Monday. The cuts come on top of previously … Read more