From CNBC Technology · 40 stories
Amazon cuts jobs in artificial general intelligence unit
Amazon laid off an undisclosed number of employees in its artificial general intelligence (AGI) unit, which focuses on building AI models, silicon development, and quantum computing. These cuts are part of Amazon's strategy to sharpen its focus on key initiatives and continue broader workforce reductions, even as it invests heavily in AI infrastructure.
Non-tech Japanese firms thrive on AI, growing revenues from semiconductor sector
Three Japanese firms, Toto, Nittobo, and Ajinomoto, have significantly increased their share prices as they leverage their core technologies to meet semiconductor demand amid the AI boom. Their businesses are benefiting from advancements related to semiconductor manufacturing equipment materials and packaging.
Axiom Biosciences to List in Hong Kong Before U.S. by 2029
Axiom Biosciences plans to go public in Hong Kong in 2027, followed by a U.S. listing in 2029. This decision reflects the growing appeal of Hong Kong for biotech financing amid challenging fundraising environments in the U.S.
OpenAI appoints David Vélez and Robin Vince to its board of directors
OpenAI has appointed David Vélez, CEO of Nubank, and Robin Vince, CEO of BNY, to its boards as it prepares for a potential IPO. Their expertise in technology and finance is expected to support OpenAI's mission to expand its business and ensure AI benefits all.
Super Micro's shares rise 15% on increased margins and orders after SpaceX deal
Super Micro Computer's shares increased by 15% after the company projected higher gross margins for the June quarter, now expected between 15% and 17%. This rise is attributed to a favorable customer mix and a spike in orders for GPUs that support artificial intelligence, notably linked to new collaborations with SpaceX.
Goldman Sachs launches private markets platform for wealthy investors
Goldman Sachs has launched a new alternative investments platform aimed at wealthy clients seeking direct investments in private companies. This move reflects a significant trend in financial markets, where high-growth startups are delaying public offerings, limiting access to returns for traditional investors.
Archer unveils Thunder military craft, stock rises 20%
Archer Aviation introduced its Thunder autonomous VTOL craft with Anduril, boosting stock by over 20%. The focus is on achieving air taxi certification by the 2028 Olympics alongside expanding into defense applications, leveraging new military technology investments.
Poll shows half of Americans oppose government ownership in companies
A CNBC poll indicates that 49% of Americans oppose government ownership stakes in companies, with only 19% in favor. This sentiment arises as the Trump administration negotiates multiple equity deals, including potential involvement with OpenAI and a notable stake in Intel.
Zhongji Innolight's shares rise after $8 billion Hong Kong listing approval
Zhongji Innolight received approval for a Hong Kong listing worth up to $8 billion, driving shares up by 8%. This move positions it as a major player in the city's strong IPO market, which has seen significant investor interest from tech firms.
ASML Navigates U.S.-China Tensions Amidst Strong Sales Forecast
ASML reports that China will contribute about 20% of its net sales in 2026, despite U.S. export restrictions on chipmaking hardware. This situation reflects ASML’s challenge of balancing sales in a critical market while adhering to geopolitical pressures.
Xi Jinping positions China as AI partner for developing nations at WAICO
Xi Jinping announced China's commitment to AI cooperation with developing nations during the World AI Conference. China will provide 5,000 training opportunities and aims to collaborate with regional blocs to advance AI technology in the Global South.
Fireworks reaches $17.5 billion valuation amid demand for affordable AI models
Fireworks, a startup supported by Nvidia, has attained a $17.5 billion valuation after raising $1.5 billion. This growth reflects the increasing demand for affordable AI models as companies look for alternatives to pricey offerings from major players like Amazon and Google.
Citi analysts predict strong Copilot growth, surprising Jim Cramer
Citi analysts expressed optimism about Microsoft's Copilot AI, expecting increased adoption and revenue growth into fiscal 2027. This assessment diverges from the prevailing criticism surrounding Copilot, which has seen sluggish uptake and mixed feedback.
AWS senior VP Dave Brown to depart after nearly 19 years at Amazon
Dave Brown, a senior vice president at Amazon Web Services, is leaving the company for a new role. His departure comes amid strong growth in AWS driven by demand for AI services.
DTCC conducts trial of tokenized asset transactions with major financial firms
The Depository Trust and Clearing Corporation (DTCC) has initiated a trial involving tokenized versions of financial assets in conjunction with over 25 firms, including JPMorgan and Goldman Sachs. This event signifies a meaningful advancement in integrating blockchain technology within traditional finance, potentially leading to wider adoption of tokenized assets in capital markets.
Cybersecurity stocks rise as IBM CEO highlights cybersecurity spending shift
Cybersecurity stocks saw significant gains following comments by IBM CEO Arvind Krishna, who identified increasing cybersecurity concerns as a top priority for clients. Krishna highlighted that spending is shifting as companies reassess their budgets amid fears of advanced AI-driven cyber threats.
Zipline enhances leadership with execs from Tesla, Uber, Waymo for U.S. drone delivery expansion
Zipline is appointing executives from Tesla, Waymo, and Uber to bolster its leadership as it expands its drone delivery services across the U.S. and globally. The startup has shifted focus from medical deliveries to commercial partnerships with major brands, enhancing its delivery capabilities significantly in recent years.
Few Nvidia H200 AI chips shipped to China, says U.S. trade official
U.S. trade official Jeffery Kessler stated that very few Nvidia H200 AI chips have been shipped to China and Hong Kong. The limited shipments signify a possible restart of H200 sales to China, which could affect Nvidia's sales forecasts as the company previously excluded Chinese market revenue from projections.
TerraFirma raises $115M to develop remote construction tech for future infrastructure
TerraFirma, a startup founded by ex-SpaceX engineers, secured $115 million to further develop remote-controlled construction equipment. The funding will support hiring and the establishment of a Texas factory and mission control center as the company aims to innovate the construction sector and potentially expand into extraterrestrial infrastructure.
Chamath Palihapitiya warns AI token spending may affect corporate earnings
Chamath Palihapitiya stated that rising AI-related expenditures could negatively impact corporate earnings. He emphasized that many executives are unaware of the extent of 'tokenmaxxing' occurring within organizations, which could lead to unexpected earnings per share misses.
Frontier Airlines to introduce in-flight Wi-Fi via SpaceX's Starlink by 2027
Frontier Airlines will begin offering in-flight Wi-Fi powered by SpaceX's Starlink starting in early 2027. This move marks a significant shift for Frontier, which was one of the last U.S. airlines to adopt in-flight internet, as airlines seek to enhance customer expectations for connectivity.
UMC begins mass production of silicon photonics in Singapore
United Microelectronics Corporation (UMC) has started mass production of silicon photonics wafers in Singapore to meet demand in AI and data centers. This expansion positions UMC amid growing regional semiconductor activities and anticipates improved financial performance in the coming quarters.
Shenzhen Seen as Future Tech Hub Over Silicon Valley
Joshua Woodard, ex-Apple employee, emphasizes Shenzhen's role in global tech supply chains. Companies like DJI and BYD thrive there, showcasing Shenzhen's manufacturing dominance despite geopolitical tensions.
Trump urges Senate to pass Clarity Act crypto bill in honor of Lindsey Graham
President Trump called on the Senate to pass the Clarity Act, a cryptocurrency regulation bill, following the death of Sen. Lindsey Graham. The bill has support from the crypto industry but faces opposition from banks and some lawmakers, which could complicate its Senate passage.
Helsing raises $1.8 billion, valued at $18 billion for AI defense tech
Helsing, a German defense startup, has raised $1.8 billion in funding, valuing the company at $18 billion. The investment reflects strong confidence in AI-driven defense technology as the firm develops drones and AI software for military applications.
Musk and Altman Clash on X Amid OpenAI Lawsuit from Apple
Elon Musk and Sam Altman criticized each other on X following Apple’s lawsuit against OpenAI for alleged trade secret theft. The ongoing feud underscores Musk's grievances regarding OpenAI's direction and control, which he believes adversely affects competition in the AI space.
Survey finds majority of U.S. workers support AI wealth fund amid tech layoffs
A survey indicates that 69% of U.S. workers support the creation of an AI sovereign wealth fund. This proposal aims to redirect profits from AI companies to the public as dissatisfaction grows over tech layoffs despite rising corporate profits.
AI Executives Say Demand Remains Strong Amid Chip Stock Volatility
AI executives have asserted that demand for AI infrastructure remains robust despite stock market volatility. Factors like Meta and xAI's AI computing capacity sales raised questions about overcapacity, yet industry leaders report strong ongoing demand surpassing supply.
China's BrainCo focuses on non-invasive brain-computer interfaces as Neuralink leads implants
BrainCo is developing non-invasive wearable devices that use brain-computer interface (BCI) technology, diverging from traditional implant methods employed by companies like Neuralink. The Chinese government recognizes BCI as a strategic industry, reflecting a growing interest in augmenting human capabilities rather than just addressing disabilities.
U.S. eases export controls for UAE, raising concerns over Trump ties
The Commerce Department is easing export controls for the UAE, favorably reviewing licenses for MGX. Senator Elizabeth Warren criticized the move, linking it to Trump's financial interests and potential national security risks.
Beta completes first test flights in U.S. eVTOL pilot program
Beta has concluded its first test flights in the U.S. government's electric vertical takeoff and landing program, successfully transporting organs. This milestone is part of broader efforts to establish flying taxis, particularly for medical and cargo applications, amid ongoing challenges in achieving FAA certification.
Kraken to Launch AI-Driven Agentic Trading Platform
Kraken is set to launch a new app featuring agentic trading, which employs AI for autonomous trading decisions based on user inputs. This initiative reflects a shift in crypto exchanges towards AI integration, aiming to provide retail investors with tools akin to those used by professional traders.
Circle obtains approval to operate as a trust bank, shares rise 12%
Circle has received approval from the OCC to operate as a trust bank, allowing it to manage reserves for its USDC stablecoin independently. This move signifies a shift for the crypto industry towards infrastructure, providing Circle regulatory advantages amidst rising competition in the stablecoin market.
Growing Teen Addiction to AI Chatbots Raises Concerns Amid Social Media Bans
A report highlights that half of U.S. teens are using AI chatbots, raising concerns about potential addiction and reliance on AI over real friendships. Despite global efforts to regulate teen social media use, regulations often overlook the implications of untested AI products on youth.
Anduril CEO cautious on IPO amid market hype
Anduril CEO Brian Schimpf stated the company is not rushing to go public due to current market conditions. He expressed concerns about high valuations and the irrational pricing of tech stocks, indicating the need for a favorable environment for a successful IPO.
AI companies invest millions in 2026 elections to influence legislation
AI companies have invested over $44 million in political action committees for the 2026 midterm elections to influence forthcoming AI regulations. This spending signals their growing role in shaping national legislation concerning AI technology, as both parties prioritize the development of regulatory frameworks for AI use.
Jim Cramer warns stock issuance may threaten bull market
Jim Cramer expressed concerns about new stock and bond issuances potentially jeopardizing the bull market, particularly as firms like Alphabet and SpaceX have significantly increased equity and debt supply. He cautioned that if the pace of capital raising continues, it could result in oversupply and reduced demand, impacting market stability.
Rebellions plans IPO in South Korea amid AI chip market growth
Rebellions aims for an IPO in South Korea in Q1 or Q2 2024, targeting the KOSPI market. Backed by key investors, the firm seeks to capitalize on increasing interest in AI chip technology, especially in AI inference.
Former Apple Executive Bets on Shenzhen for Future Consumer Electronics Launches
Will Wang, CEO of Even Realities, stated that Shenzhen offers superior conditions for consumer electronics startups compared to Silicon Valley. His company, valued at $1 billion after a $150 million funding round, is targeting the AI wearables market.
Hesai Technology faces scrutiny over cybersecurity risks amid US blacklist
Hesai Technology, a lidar manufacturer, is blacklisted by the US for national security reasons, raising concerns about cyberthreats. Despite this, Hesai will provide sensors for Nvidia's autonomous vehicle platforms, indicating significant market reach and reliance on its technology.