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Oracle Forecasts Quarterly Revenue Below Estimates, Shares Drop Over 7%

Oracle has predicted lowerthanexpected quarterly revenue, citing factors hurting demand for cloud solutions, such as an unpredictable economy and comp

Oracle has predicted lowerthanexpected quarterly revenue, citing factors hurting demand for cloud solutions, such as an unpredictable economy and competitive cloud computing industry. This caused the companys shares to drop more than 7% during extended trading. Potential obstacles to its performance include the effect of Oracles acquisition of the Cerner company last year and the slowdown in enterprise expenditure. Oracle is attempting to fortify its AI infrastructure, but chances for market share are limited by fierce competition from big competitors such as Amazon and Microsoft. Oracle revealed sales of $12.94 billion for the second quarter, just below the analysts average expectation of $13.05 billion. Read More..

B2B Tech News | 2 years ago          

French AI Firm Mistral AI Raises €385 Million in Funding Round

In its second fundraising round in as many months, French artificial intelligence startup Mistral AI raised €385 million $414.41 million, with inves

In its second fundraising round in as many months, French artificial intelligence startup Mistral AI raised €385 million $414.41 million, with investors led by AndreessenHorowitz and LightSpeed Ventures. Although the business hasnt revealed its valuation, a person with knowledge of the situation pegged it at €2 billion, ranking the French firm among the worlds leading AI businesses. Only one month after its founding, in June, Mistral AI—which former Meta and Google AI researchers founded—raised €105 million. In addition, the business has introduced Mixtral 8x7B, an open model that aims to be Europes answer to AI platforms such as Googles Bard and OpenAIs ChatGPT. Read More..

B2B Tech News | 2 years ago          

FirstofitsKind Sanctions UK Targets Southeast Asias Online Scam Networks

The United Kingdom has taken action against 14 people and organisations associated with the online scamming scene in Southeast Asia. The targets of th

The United Kingdom has taken action against 14 people and organisations associated with the online scamming scene in Southeast Asia. The targets of the action are human traffickers who coerce employees into committing fraud. This is the first time that the UK has taken direct legal action against internet scammers. The targets of the sanctions include people and organisations associated with "scam compounds" in Laos, Myanmar, and Cambodia they also include businesses associated with casinos and lodging establishments in Cambodia that are notorious for housing scams. Since the COVID19 outbreak, Southeast Asia has seen a sharp increase in the internet scamming business, with workers being coerced into performing fraudulent tasks. Read More..

B2B Tech News | 2 years ago          

EU and Experts Delve into Technical Sessions to Finalize AI Rules

Days after the European Union reached a tentative deal on artificial intelligence AI regulations, specialists from both sides gathered to work out det

Days after the European Union reached a tentative deal on artificial intelligence AI regulations, specialists from both sides gathered to work out details in more than 11 technical meetings. The range of legislation, the use of AI by the government for biometric monitoring, copyright issues raised by foundation models, and rules governing largescale AI systems like ChatGPT are among the subjects covered. The EU wants to enact AI regulations before any other significant global power. Several nations, including Germany and France, want to examine the concessions the AI Act will go into force in 2026. The recent accord establishes the framework for comprehensive AI governance in the EU. Read More..

B2B Tech News | 2 years ago          

U.S. Commerce Secretary Expects Dozen Semiconductor Funding Awards in the Next Year

Within the following year, U.S. Commerce Secretary Gina Raimondo plans to announce multibilliondollar semiconductor financing grants that have the pot

Within the following year, U.S. Commerce Secretary Gina Raimondo plans to announce multibilliondollar semiconductor financing grants that have the potential to alter U.S. chip production drastically. The first allocation, costing $35 million, is part of the "Chips for America" subsidy programme and will go to a BAE Systems factory in Hampshire that makes semiconductors for fighter jets. Raimondo wants to see at least two "leadingedge" U.S. manufacturing clusters established and the number of semiconductors made in the country raised from 12% to about 20%. Firms, including GlobalFoundries, Micron, and Intel are seeking significant capital. $39 billion in industrial incentives have been approved by Congress to increase semiconductor output. Read More..

B2B Tech News | 2 years ago          

Huawei to Begin Construction of Mobile Equipment Factory in France

Next year, Huawei plans to start building its facility in France to produce network equipment for mobile phones. The COVID19 pandemic caused delays fo

Next year, Huawei plans to start building its facility in France to produce network equipment for mobile phones. The COVID19 pandemic caused delays for the project, which was once proposed in 2020 with an initial cost of 200 million euros $215.28 million. Despite limitations or prohibitions imposed by several European countries on deploying Huaweis 5G equipment, the business is still determined to open its first facility in Europe. A French government source said the facility is scheduled to operate in 2025 and is situated in Brumath, close to Strasbourg. The French government notified telecom providers in 2020 that when their licences for Huawei 5G equipment expire, they will not be allowed to renew them. Read More..

B2B Tech News | 2 years ago          

Dangote MegaRefinery in Nigeria Receives First Crude Oil Shipment

A significant milestone for the project was reached when the billionaire Aliko Dangotes massive refinery in Nigeria received its first supply of crude

A significant milestone for the project was reached when the billionaire Aliko Dangotes massive refinery in Nigeria received its first supply of crude oil. The refinery, situated in the Lekki free zone east of Lagos, seeks to completely satisfy Nigerias gasoline requirements, ending periodic fuel shortages and raising the standard of fuel available for use. Because its state refineries are inefficient, Nigeria, one of Africas largest oil producers, now imports most of its fuel. Launched in 2013, the $18.5 billion+ Dangote Petroleum Refinery project is anticipated to have the highest crude refining capacity on the African continent when fully operational. It will eventually refine 650,000 barrels per day after starting at 350,000 barrels per day. Read More..

B2B Tech News | 2 years ago          

Informal Talks Begin for New Negotiations on North American Free Trade Agreement

American ambassador to Canada, David Cohen, has revealed that U.S. officials have started informal conversations to be ready for fresh negotiations on

American ambassador to Canada, David Cohen, has revealed that U.S. officials have started informal conversations to be ready for fresh negotiations on the North American Free Trade Agreement NAFTA. As the sunset date draws near, Cohen stated that internal talks are taking place to decide what would be the subjects of negotiations with Mexico and Canada. He did stress, though, that there would be none of the "existential drama" of the NAFTA negotiations in 2017–2018. The United StatesMexicoCanada Agreement USMCA became the place of NAFTA in 2020. Read More..

B2B Tech News | 2 years ago          



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