Tesla has recently announced a significant round of layoffs, affecting approximately 600 employees at its manufacturing facilities and engineering offices in California. These job cuts come as a part of the company’s larger restructuring efforts, which have been ongoing since at least January. The latest round of layoffs targeted a wide range of positions, from
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India has been recognized as offering a “very favorable” environment for companies to launch initial public offerings. According to Shailendra Singh, managing director at Peak XV Partners, formerly Sequoia Capital India & Southeast Asia, the regulatory framework in Indian public markets is top-notch. Singh emphasized the positive impact of regulatory bodies such as the Securities
The departure of Ilya Sutskever from OpenAI, as announced by co-founder Sam Altman, marks a significant shakeup within the company’s leadership. Sutskever’s decision to leave comes after a period of turmoil that saw co-founder and CEO, Sam Altman, facing criticism for his lack of transparency with the board. This incident led to a rift within
Tesla, the electric vehicle company known for its innovative technology, is now facing a lawsuit from the nonprofit Environmental Democracy Project. The lawsuit alleges that Tesla has an “ongoing failure to comply with the Clean Air Act” at its assembly plant in Fremont, California. The environmental group claims that Tesla has violated the law “hundreds
Sony recently announced a 7% drop in annual profits for the fiscal year 2023, citing a decline in its financial services division as a key factor. Despite reporting a 19% increase in revenue, the operating profit for the full year fell by 7% compared to the previous year. This decline is concerning for the Japanese
OpenAI recently introduced a new AI model, GPT-4o, alongside a desktop version of ChatGPT. This update not only includes enhanced features but also aims to make the chatbot more accessible to users. According to OpenAI’s technology chief, Mira Murati, GPT-4o is significantly faster and boasts improved capabilities in handling text, video, and audio interactions. The
SoftBank recently reported a 724.3 billion Japanese yen gain on its Vision Fund for the fiscal year ending in March, marking the first time the tech investment arm has been in profit since 2021. The Vision Fund segment posted a profit of 128.2 billion yen for the full fiscal year, a positive swing from the
Recently, a federal judge in California made a significant decision to dismiss a lawsuit filed by X, previously known as Twitter, against Israel’s Bright Data. The lawsuit centered around the controversial practice of data scraping, where automated programs extract public online data for various purposes. X accused Bright Data of scraping its data and selling
On Friday, climate protesters in Germany expressed their anger towards Tesla’s plans to expand its Berlin-Brandenburg Gigafactory by attempting to break into the plant. Local police reported that multiple unauthorized individuals were trying to enter the Tesla factory grounds, leading to a dynamic situation with various roadblocks in the area due to the demonstrations. Since
In a move to address the recent cybersecurity breaches involving Microsoft’s software, a House committee has requested the presence of Brad Smith, the company’s top lawyer, for a hearing scheduled later this month. The exploits have led to hackers gaining access to sensitive emails of U.S. government officials, raising concerns about the vulnerability of Microsoft’s
