Latest news with #TechCompanies
Bloomberg
4 days ago
- Business
- Bloomberg
OpenAI, Anthropic Prepare for a New Era of AI Products
Leading AI labs are now working to turn their technical advances into compelling apps and hardware devices. But first... Three things to know:
Washington Post
5 days ago
- Business
- Washington Post
Nvidia overcomes tariff-driven turbulence to deliver Q1 results that eclipsed projections
SAN FRANCISCO — Artificial intelligence technology bellwether Nvidia overcame a wave of tariff-driven turbulence to deliver another quarter of robust growth amid feverish demand for its high-powered chips that are making computers seem more human. The results announced Wednesday for the February-April period came against the backdrop of President Donald Trump's on-again, off-again trade war that has whipsawed Nvidia and other Big Tech companies riding AI mania to propel their revenue and stock prices upward.
CTV News
5 days ago
- Business
- CTV News
Nvidia overcomes tariff-driven turbulence to deliver results that eclipsed analyst projections
People take a look to Nvidia''s new products during the Computex 2025 exhibition in Taipei, Taiwan, Wednesday, May 21, 2025. (AP Photo/Chiang Ying-ying, File) Artificial intelligence technology bellwether Nvidia overcame a wave of tariff-driven turbulence to deliver another quarter of robust growth amid feverish demand for its high-powered chips that are making computers seem more human. The results announced Wednesday for the February-April period came against a backdrop of President Donald Trump's on-again, off-again trade war that has whipsawed Nvidia and other Big Tech companies that have been riding AI mania to propel both their revenue and stock prices increasingly higher. But Trump's fusillade of tariffs — many of which have been reduced or temporarily suspended – hammered the market values of Nvidia and other tech powerhouses heading into the springtime earnings season as investors fretted about the trade turmoil dimming the industry's prospects. Those worries have eased during the past six weeks as most Big Tech companies lived up to or exceeded the analyst projections that steer investors, capped by Nvidia's report for its fiscal first quarter. Nvidia earned $18.8 billion, or 76 cents per share, for the period, a 26% increase from the same time last year. Revenue surged 69% from a year ago to $44.1 billion. If not for a $4.5 billion charge that Nvidia absorbed to account for the U.S. government's restrictions on its chip sales to China, Nvidia would have made 96 cents per share — far above the 73 cents per share, excluding certain items envisioned by analysts. The performance helped Nvidia's shares by gaining nearly 4% in extended trading after the numbers came out. Nvidia's stock price ended Wednesday's regular trading session at $134.81, just slightly below where it stood before Trump's Jan. 20 inauguration. The price had plunged to as low as $86.62 last month during a nosedive that temporarily erased $1.2 trillion in shareholder wealth. Michael Liedtke, The Associated Press
The Sun
6 days ago
- Business
- The Sun
Millions of Google users told major app is shutting down for good as September deadline for ‘permanent closure' revealed
GOOGLE users have been notified that a major app will be shutting down for good by September. Google Duo was a video and audio calling app, similar to Apple's FaceTime, Facebook's WhatsApp or Messenger and Microsoft's Skype. 1 It merged with Meet in 2022 to create one entity for video calls but will soon be removed. While the Google Duo brand officially ended in 2022, some of its features were still used under the 'Legacy calls' section in Google Meet. The app for the latter is now showing a banner that reads, 'Meet calling will replace legacy (Duo) calling in September 2025.' Meet calls offer a superior video call experience compared to legacy Duo calls, with features like live captions, screen sharing, raise your hand, stackable effects, cloud encryption, and more. As part of the transition, some legacy Duo features won't be available in Meet. This includes Family Mode, Moments, and Knock Knock. AMAZON, AMAZ-OFF It comes after news that Amazon is to shut down an app that's been used by millions of people. There are major downsides for affected users – and you might even be owed a big refund. Millions of people using the Amazon Appstore will be cut off in mid-August. The closure affects anyone using the app on Android phones. Over 200 million people use the Amazon Appstore, around 1% of which come via Android gadgets. Google reveals 'Advanced Protection' for VIPs – and you can use it too An Amazon spokesperson told The Sun: "We've decided to discontinue the Amazon Appstore on Android to focus our efforts on the Appstore experience on our own devices, as that's where the overwhelming majority of our customers currently engage with it." Amazon's Appstore is a rival to the default Google Play Store, letting you download apps and games. It launched on Android all the way back in March 2011. But on August 20, the Amazon Appstore will close – and any apps downloaded from it will no longer receive updates. That means support will end for all apps you've downloaded via the Amazon Appstore. They may become buggy or stop work entirely, and won't be able to receive any important security fixes either. In an FAQ, Amazon warned that these apps "will not be guaranteed to operate on Android devices". Amazon has already begun killing the Appstore off by blocking developers from uploading new apps to it. That change kicked in on February 20 this year.
Yahoo
26-05-2025
- Business
- Yahoo
Analyst has blunt words on Trump's iPhone tariff plans
President Donald Trump is doubling down on his plans to bring iPhone production to the U.S., no matter how many experts see it as misguided. The issue has been in full focus since last week, when Trump spoke out against Apple () CEO Tim Cook. The president made it clear that he isn't happy with Cook's decision to build iPhones in India rather than in the U.S. 💵💰💰💵 When Trump addressed Apple, he stated that the company would be increasing production in the U.S. Now, he has announced plans to levy a 25% tariff against Apple for any iPhones not manufactured in the U.S. Since before he returned to office, Trump has been highly focused on getting tech companies, including Apple, to start building more products on U.S. soil. This has garnered significant criticism from experts, who see this as highly unlikely. For months, Trump's tariffs against nations such as China, Canada, and Mexico have sparked significant economic uncertainty, pushing down financial markets. For many companies, the tit-for-tat negotiations between Trump and Chinese President Xi Jinping have been particularly troubling as trade relations between the two economic superpowers hang in the Apple's plans to invest more than $500 billion in U.S. manufacturing over the next four years, Trump clearly isn't satisfied, as Apple still plans to shift iPhone production from China to India. He responded with a detailed post on Truth Social, stating that every iPhone sold in the U.S. would have to be built there or Apple would have to pay a 25% tariff on each one. Daniel Ives, a technology analyst for Wedbush Securities, responded to Trump's claims with strong skepticism that Apple would ever manufacture and distribute the iPhone in the U.S. He went so far as to describe it as a 'fairy tale' in a recent note to investors, making clear that he believes it is not provided further context on this topic in an X post, revealing that he believes the cost of iPhones would skyrocket significantly if they were built in the U.S., likely making Apple's flagship product considerably less appealing to consumers. Moving iPhone production to the U.S. "would result in an iPhone price point that is a non-starter," he said in the post. Ives isn't the only tech expert to argue that Trump's vision for Apple building iPhones on U.S. soil is a pipe dream and unlikely to ever materialize. In April 2025, experts from AppleInsider provided a detailed analysis of the many problems Apple would likely face, including component costs and a lack of labor. Jeff Le, a Principal at 100 Mile Strategies, shared with TheStreet his take on what this development is likely to mean, both for Apple and for Trump's agenda. More Tariff News: Apple CEO's business plan provokes US president Fund manager has extremely blunt words on China tariff news Trump delivers another huge tariff surprise 'Apple has recognized its investments and overreliance on China has represented a significant vulnerability to its business and had announced, along with its partner Foxconn, multibillion dollar investments for deeper India manufacturing,' he states. 'However, getting these investments operational immediately is unlikely and does not address the President's urgency in getting more U.S.-made iPhones.' As Trump's nature is often highly unpredictable, it's difficult to assess how he will handle this matter, particularly given the many reasons it is unlikely to happen. Le also notes, though, that 'his call to tariff Apple's iPhone 25 percent or higher is a contrast from his blanket threats, focusing on specific products.'The stock market did not react well to Trump's post about the 25% iPhone tariff, as evidenced by the fact that $100 billion has been erased from Apple's market cap since Trump's post on Friday, May 23. While shares rose slightly in after-hours trading, they remain firmly in the red for the week. For Apple, Trump's focus on making sure that iPhones are built in the U.S. presents a challenge. But as Ives and others have made clear, it appears highly unlikely that it will deliver on what the president wants, even if he moves forward with his tariff has blunt words on Trump's iPhone tariff plans first appeared on TheStreet on May 26, 2025
