Latest news with #California-headquartered
Yahoo
4 days ago
- Business
- Yahoo
AI tokens tumble ahead of Nvidia's latest earnings report
The artificial intelligence (AI) tokens took a hit ahead of the California-headquartered chipmaker Nvidia (Nasdaq: NVDA) gearing up to post its Q1 2025 earnings report once the trading day closes on May 28. The total market cap of AI tokens slipped 0.5% in a day to $29.7 billion at the time of writing. All the leading AI tokens reflected a decline in their prices over the last 24 hours. TAO, the AI token powering the decentralized ML network called Bittensor, fell 2.6% to $434.76 at press time. NEAR, another leading AI token, dropped 3.58% to $2.79. ICP, the token powering decentralized AI solutions at the Internet Computer protocol, fell 2% to $5.26. RENDER, the AI token powering the decentralized GPU rendering platform, fell as much as 9% to $4.38. FET, the AI token behind the Artificial Intelligence Alliance consortium, dipped 3.2% to $0.88. FIL, the token supporting the internet infrastructure behind decentralized AI, fell 2.42% to $2.82. VIRTUAL, the token behind AI agent-enabling Virtuals Protocol, dropped 7.5% to $2.30. INJ, the token lying at the intersection of AI and DeFi at the Injective protocol, fell a modest 1% to $14.75. Helmed by CEO Jensen Huang, Nvidia faced a major onslaught this year with the buzz created by the Chinese AI company DeepSeek. In addition, the aggressive tariff policy pursued by President Donald Trump against China beginning Apr. 2 also affected the chipmaker's operations adversely since semiconductors were among the products worst hit by tariff hikes. On Apr. 14, the company announced an initiative to create their AI supercomputers in the U.S. exclusively, to which Trump promised an expedition of all necessary permits. The NVDA stock was exchanging hands at $136.32 at the time of writing, up 0.62% today. Though the stock has jumped 27% since Trump's "Liberation Day" tariff announcement, it's still barely 1.54% up year-to-date (YTD). AI tokens tumble ahead of Nvidia's latest earnings report first appeared on TheStreet on May 28, 2025
Otago Daily Times
22-05-2025
- Business
- Otago Daily Times
Resort to host Wit platform
Queenstown will host Asia-Pacific's leading travel technology, media and events platform next year. Announced by Technology Queenstown (TQ) founder Roger Sharp during a host-tech panel session at KingPin on Wednesday night, Web in Travel (Wit) will be held for the first time in the resort next July, marking a milestone for the Queenstown Lakes district, which aims to become a technology innovation hub. The one-day event will be held in partnership with TQ, a not-for-profit organisation founded by Mr Sharp last year, and regional investment bank North Ridge Partners. Wit founder Siew Hoon said they had "long had our sights set on Oceania". "After the success of Wit Australia in 2011, we're excited to return with Wit Queenstown ... our mission has always been to spark innovation in travel tech, from Singapore to Tokyo, Seoul, Cape Town and Dubai. "We're excited to collaborate with Technology Queenstown to build a unique edition that marries Wit insights with local strategic vision and talent." Technology Queenstown is spearheading efforts to diversify the Queenstown Lakes economy, of which tourism and hospitality account for more than 60%, by developing a world-class tech sector. It aims to build $1 billion in annual tech sector GDP in the district over the next 20 years, moving technology from less than 2% to more than 15% of GDP. Mr Sharp, who also chairs global travel business Web Travel Group, said bringing Wit to town was "a cornerstone of our strategy". Ms Hoon said because the Wakatipu attracted more than three million visitors a year, it offered a "unique southern hemisphere testing ground" for innovations that could enhance travel experiences. These would be showcased to travel operators, tech companies, destination marketing organisations, tourism boards, investors and global travel tech brands' senior executives attending Wit Queenstown. TQ chief executive Sarah Russell said through a "strategic blueprint", strong corporate support and plans to launch a university campus, they were "building the foundation" of economic diversification through tech in the Wakatipu. "Travel tech is the first cluster we're backing and Wit is central to making that happen." On Monday, the University of Otago announced it had partnered with California-headquartered company Palo Alto Networks to co-design and deliver cybersecurity education programmes in Queenstown. To start in the next year, it was the first partnership of its kind in the university's history, it said. Otago vice-chancellor Grant Robertson said it solidified the university's commitment to supporting the Queenstown Lakes region to become an "international technology centre".
Miami Herald
20-05-2025
- Business
- Miami Herald
Levi Strauss to sell Dockers to Authentic Brands in $300M deal
May 20 (UPI) -- Clothing company Levi Strauss announced Tuesday it will sell its Dockers line to Authentic Brands Group in a more than $300 million acquisition. The brand management firm Authentic, under the deal terms, will take over the intellectual rights to Dockers in a $311 million initial transaction. Centric Brands, with offices around the globe handling other higher-end brands like Calvin Klein and Tommy Hilfiger, will assume operations for Dockers in manufacturing, sourcing and distribution through a new licensing agreement. Levi's CEO Michelle Gass said after a "robust process," the California-headquartered company was "confident" it had maximized its own value through the sale and that Authentic was "the right" group to "usher in the next chapter of growth" for the Dockers brand. "The Dockers transaction further aligns our portfolio with our strategic priorities, focusing on our direct-to-consumer first approach, growing our international presence and investing in opportunities across women's and denim lifestyle," Gass, who moved over to Levi Strauss at the end of 2022 as CEO of Kohls, said Tuesday in a release. Dockers, via Levi's, reported around $67 million in revenue for the three-month period ending on March 2. "Few brands own a category the way Dockers does, yet still have so much room to grow," stated Matt Maddox, president of Authentic. "Its legacy in casualwear gives it a strong foundation, but the real opportunity lies in reimagining the brand for a new generation. Through our global platform and deep licensing network, we're committed to stewarding the brand into its next era of growth and relevance." Levi's, which in 1986 created the line, revealed in October it was considering offloading Dockers, known primarily for its khaki's, as a renewed focus is getting placed on growing its Beyond Yoga athleisure brand. Additionally, Levi's could in future years make more than $390 million through an $80 million payout plan based on Dockers' sales performance under Authentic's portfolio, which owns 50 other global brands like Reebok, Nautica, Forever 21 and Sports Illustrated. "Dockers represents everything we look for in a brand partnership -- iconic heritage, consumer loyalty and growth potential," said Centric Brands CEO Jason Rabin. "We're bringing the same strategic expertise to Dockers that we've applied to our successful brand portfolio that includes design, strategic sourcing and an extensive wholesale network," he added. The sale is expected to close on or around July 31, according to company officials. Copyright 2025 UPI News Corporation. All Rights Reserved.
UPI
20-05-2025
- Business
- UPI
Levi Strauss to sell Dockers to Authentic Brands in $300M deal
"The Dockers transaction further aligns our portfolio with our strategic priorities, focusing on our direct-to-consumer first approach, growing our international presence and investing in opportunities across women's and denim lifestyle," Levi Strauss CEO Michelle Gass (seen May 2019 in New York City) said Tuesday on Levi's sale of the Dockers brand to brand management firm Authentic Brands Group. File Photo by John Angelillo/UPI | License Photo May 20 (UPI) -- Clothing company Levi Strauss announced Tuesday it will sell its Dockers line to Authentic Brands Group in a more than $300 million acquisition. The brand management firm Authentic, under the deal terms, will take over the intellectual rights to Dockers in a $311 million initial transaction. Centric Brands, with offices around the globe handling other higher-end brands like Calvin Klein and Tommy Hilfiger, will assume operations for Dockers in manufacturing, sourcing and distribution through a new licensing agreement. Levi's CEO Michelle Gass said after a "robust process," the California-headquartered company was "confident" it had maximized its own value through the sale and that Authentic was "the right" group to "usher in the next chapter of growth" for the Dockers brand. "The Dockers transaction further aligns our portfolio with our strategic priorities, focusing on our direct-to-consumer first approach, growing our international presence and investing in opportunities across women's and denim lifestyle," Gass, who moved over to Levi Strauss at the end of 2022 as CEO of Kohls, said Tuesday in a release. Dockers, via Levi's, reported around $67 million in revenue for the three-month period ending on March 2. "Few brands own a category the way Dockers does, yet still have so much room to grow," stated Matt Maddox, president of Authentic. "Its legacy in casualwear gives it a strong foundation, but the real opportunity lies in reimagining the brand for a new generation. Through our global platform and deep licensing network, we're committed to stewarding the brand into its next era of growth and relevance." Levi's, which in 1986 created the line, revealed in October it was considering offloading Dockers, known primarily for its khaki's, as a renewed focus is getting placed on growing its Beyond Yoga athleisure brand. Additionally, Levi's could in future years make more than $390 million through an $80 million payout plan based on Dockers' sales performance under Authentic's portfolio, which owns 50 other global brands like Reebok, Nautica, Forever 21 and Sports Illustrated. "Dockers represents everything we look for in a brand partnership -- iconic heritage, consumer loyalty and growth potential," said Centric Brands CEO Jason Rabin. "We're bringing the same strategic expertise to Dockers that we've applied to our successful brand portfolio that includes design, strategic sourcing and an extensive wholesale network," he added. The sale is expected to close on or around July 31, according to company officials.
Otago Daily Times
19-05-2025
- Business
- Otago Daily Times
Uni, tech company join forces against cyber crime
The University of Otago could be offering a master's degree in cyber security in Queenstown in a few years' time. It announced a partnership with California-headquartered tech company Palo Alto Networks yesterday to co-design and deliver education programmes in the resort town, starting with short executive courses in the next 12 months. Otago vice-chancellor Grant Robertson said it was the first partnership of its kind in the university's history and part of its vision for engaging more closely with businesses that employed its graduates or provided research opportunities. "This partnership solidifies our commitment to supporting the Queenstown Lakes region to become an international technology centre." Getting a new academic course approved took time, but the bigger challenge would be providing accommodation for staff and students, he said. That could take up to five years. "We could get a master's degree course approved for delivery from 2027. The piece we have to fill in is getting accommodation for students and the facilities." Mr Robertson said the partnership could not have happened without the efforts of tech entrepreneur Roger Sharp, who founded non-profit agency Technology Queenstown early last year with a goal of growing the sector's contribution to the resort town's GDP from 1.5% at present to more than 15% within 20 years. Palo Alto Networks New Zealand managing director Misti Landtroop said it already had partnerships with 3300 high schools, colleges and universities around the world through its cyber-security academy. However, it was the first time a university had asked it to jointly design an academic programme. She hoped that was only the first step in the partnership. "When things start getting going, then potentially we could have internship programmes where we cross-pollinate," Ms Landtroop said. "We might have students from the University of Otago in Queenstown go to our headquarters in Santa Clara, and then vice versa, have some people come back here. "I think the sky's the limit." Former prime minister Sir John Key, who has been on the Palo Alto Networks board since 2019, said the global cyber threat was "actually terrifying for organisations". Cyber-crime was "incredibly sophisticated" and only going to get worse — "We're really only at the tip of the iceberg and it's going to get more and more deep." Public and private sector leaders in New Zealand needed to better understand how to guard against that threat. Main points — University of Otago partnership with Palo Alto Networks — Palo Alto Networks is world's largest cyber-security company — Co-designing cyber-security education programme — Short executive courses in Queenstown within a year — Aiming to offer a master's degree in the resort
