Category Archives: Microsoft

Nvidia hits $3tn and surpasses Apple as world’s second most valuable company

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AI chipmaker’s stock has surged 147% so far in 2024, underscoring shift in tech world as demand for its processors far outstrip supply

Shares of Nvidia rallied to record highs on Wednesday, with the artificial-intelligence chipmaker’s stock market valuation hitting the $3tn mark and overtaking Apple to become the world’s second most valuable company.

The chipmaker’s stock was up 5.16% at $1,224.40, giving Nvidia a market value of $3.01tn at market close. Apple’s market capitalization was at $3.00tn at market close as its stock climbed 0.78%.

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Microsoft’s heavy bet on AI pays off as it beats expectations in second quarter

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World’s largest public company reports $61.86bn revenue after investing billions into artificial intelligence

Profits at Microsoft beat Wall Street’s expectations as its heavy bet on artificial intelligence continued to bear fruit in the second quarter.

The technology giant has invested billions of dollars into AI in a bid to turbocharge its growth, particularly of its cloud computing services. Its cloud computing revenue surged by more than 20% in the latest quarter.

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China will use AI to disrupt elections in the US, South Korea and India, Microsoft warns

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Beijing did a test run in Taiwan using AI-generated content to influence voters away from a pro-sovereignty candidate

China will attempt to disrupt elections in the US, South Korea and India this year with artificial intelligence-generated content after making a dry run with the presidential poll in Taiwan, Microsoft has warned.

The US tech firm said it expected Chinese state-backed cyber groups to target high-profile elections in 2024, with North Korea also involved, according to a report by the company’s threat intelligence team published on Friday.

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US reprimands Microsoft for security failures that allowed Chinese hack

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Federal report says ‘cascade of errors’ by tech giant let Chinese operators break into senior government officials’ email accounts

In a scathing indictment of Microsoft corporate security and transparency, a Biden administration-appointed review board issued a report Tuesday saying “a cascade of errors” by the tech giant let state-backed Chinese cyber operators break into email accounts of senior US officials including commerce secretary, Gina Raimondo.

The Cyber Safety Review Board, created in 2021 by executive order, describes shoddy cybersecurity practices, a lax corporate culture and a lack of sincerity about the company’s knowledge of the targeted breach, which affected multiple US agencies that deal with China.

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AI firm considers banning creation of political images for 2024 elections

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Midjourney’s CEO David Holz says company close to ‘hammering’ images of Donald Trump, Joe Biden and others ‘for next 12 months’

The groundbreaking artificial intelligence image-generating company Midjourney is considering banning people from using its software to make political images of Joe Biden and Donald Trump as part of an effort to avoid being used to distract from or misinform about the 2024 US presidential election.

“I don’t know how much I care about political speech for the next year for our platform,” Midjourney’s CEO, David Holz, said last week, adding that the company is close to “hammering” – or banning – political images, including those of the leading presidential candidates, “for the next 12 months”.

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Microsoft lays off 1,900 Activision Blizzard and Xbox staff

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The tech giant acquired Activision Blizzard three months ago for $69bn

Microsoft is cutting around 1,900 jobs at Activision Blizzard and Xbox this week, per an internal memo from the head of the company’s gaming division.

The cuts represent around 9% of the overall Microsoft Gaming division, which employs roughly 22,000 people, with most of the layoffs set to happen at video game publisher Activision Blizzard. The president of the subsidiary, Mike Ybarra, is also leaving the company. Microsoft did not immediately respond to a Reuters request for comment.

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New York Times sues OpenAI and Microsoft for copyright infringement

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Lawsuit says companies gave NYT content ‘particular emphasis’ and ‘seek to free-ride’ on paper’s investment in its journalism

The New York Times has sued OpenAI and Microsoft over the use of its content to train generative artificial intelligence and large-language model systems, a move that could see the company receive billions of dollars in damages.

The copyright infringement lawsuit, filed in a Manhattan federal court on Wednesday, claims that while the companies copied information from many sources to build their systems, they give New York Times content “particular emphasis” and “seek to free-ride on the Times’s massive investment in its journalism by using it to build substitutive products without permission or payment”.

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Microsoft to join OpenAI’s board after Sam Altman rehired as CEO

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Altman says tech giant, which owns 49% of ChatGPT maker after investing $13bn, will take non-voting, observer position on board

Microsoft will take a non-voting, observer position on OpenAI’s board, CEO Sam Altman said in his first official missive after taking back the reins of the company on Wednesday.

The observer position means Microsoft’s representative can attend OpenAI’s board meetings and access confidential information, but it does not have voting rights on matters including electing or choosing directors.

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OpenAI ‘was working on advanced model so powerful it alarmed staff’

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Reports say new model Q* fuelled safety fears, with workers airing their concerns to the board before CEO Sam Altman’s sacking

OpenAI was reportedly working on an advanced system before Sam Altman’s sacking that was so powerful it caused safety concerns among staff at the company.

The artificial intelligence model triggered such alarm with some OpenAI researchers that they wrote to the board of directors before Altman’s dismissal warning it could threaten humanity, Reuters reported.

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EU unveils package of laws to curb power of big tech firms

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‘Revolutionary’ Digital Markets Act aims to allow more competition and let consumers delete preloaded phone apps

The EU has unveiled a set of “revolutionary” laws to curb the power of six big tech companies, including allowing consumers to decide what apps they want on their phone and to delete pre-loaded software such as Google or Apple’s maps apps.

The package of laws will also pave the way for more competition in some of the areas most guarded by the tech firms, including Apple Wallet and Google Pay.

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Microsoft agrees to keep Call of Duty on PlayStation ahead of Activision buy

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Software giant acquiesced after US trade commission expressed concern that Activision Blizzard acquisition would hurt gamers

Microsoft has signed a binding agreement to ensure that the Call of Duty video game franchise remains available on Sony’s PlayStation platform after Microsoft’s $69bn acquisition of Activision Blizzard, the tech company said on Sunday, easing concerns from Sony and the Federal Trade Commission (FTC).

A tweet from Phil Spencer, Microsoft Gaming’s CEO, read: “We are pleased to announce that Microsoft and @PlayStation have signed a binding agreement to keep Call of Duty on PlayStation following the acquisition of Activision Blizzard. We look forward to a future where players globally have more choice to play their favorite games.”

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China-backed hackers spying on US critical infrastructure, says Five Eyes

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Targets include US military facilities on Guam that would be key in an Asia-Pacific conflict, say Microsoft and western spy agencies

A state-sponsored Chinese hacking group has been spying on a wide range of US critical infrastructure organisations and similar activities could be occurring globally, western intelligence agencies and Microsoft have warned.

“The United States and international cybersecurity authorities are issuing this joint Cybersecurity Advisory (CSA) to highlight a recently discovered cluster of activity of interest associated with a People’s Republic of China (PRC) state-sponsored cyber actor, also known as Volt Typhoon,” said a statement released by authorities in the US, Australia, Canada, New Zealand and the UK – countries that make up the Five Eyes intelligence network.

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No 10 says UK ‘extremely attractive’ for business after Microsoft broadside

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Downing Street responds to stinging attack from US firm’s president over blocking of $69bn Activision deal

Downing Street has defended the UK as an “extremely attractive” place for tech startups after Microsoft’s president said Brexit Britain was worse for business than the EU, in a stinging attack on the UK’s decision to block a $69bn (£55bn) deal to take over Activision Blizzard.

Microsoft rounded on the Competition and Markets Authority (CMA) on Thursday after a surprise decision to block its planned takeover of the Call of Duty games developer, with its president, Brad Smith, describing it as the “darkest day in our four decades in Britain”.

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Microsoft shares up 8.3% as AI features give a boost to sales

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Redmond-based company exceeded analysts’ estimates, driven by its cloud computing and Office software businesses

Microsoft Corp beat Wall Street’s quarterly revenue and profit estimates on Tuesday, driven by growth in its cloud computing and Office productivity software businesses, and the company said artificial intelligence products were stimulating sales.

The company forecast that revenue in its main segments for the current quarter would match or top Wall Street targets.

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ChatGPT reaches 100 million users two months after launch

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Unprecedented take-up may make AI chatbot the fastest-growing consumer internet app ever, analysts say

ChatGPT, the popular artificial intelligence chatbot, has reached 100 million users just two months after launching, according to analysts.

It had about 590m visits in January from 100 million unique visitors, according to analysis by data firm Similarweb. Analysts at investment bank UBS said the rate of growth was unprecedented for a consumer app.

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Microsoft to cut 10,000 jobs in March as tech firms, including Amazon, thin ranks

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Sector reacts to post-pandemic shift in digital spending and gloomy economic outlook for 2023

Microsoft is cutting 10,000 jobs as it cited a post-pandemic shift in digital spending habits and weakness in the global economy.

The tech group joined a list of US peers making extensive job cuts, including Facebook owner Meta, Amazon, and business software-maker Salesforce, who have scaled back on workforce expansions stoked by a pandemic-related boom in demand for their services and products that have lost momentum.

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Microsoft to buy 4% stake in London Stock Exchange

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US tech company signs 10-year strategic partnership with LSEG for data analytics and cloud technology

Microsoft will buy 4% of the London Stock Exchange as part of a multibillion-pound deal to work together on data analytics and cloud technology.

The US tech company will buy the stake from a consortium of Blackstone and Thomson Reuters, and will take a seat on the board of the London Stock Exchange Group (LSEG). The consortium previously sold the financial data company Refinitiv to LSEG in a £22bn takeover.

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US agency moves to block landmark merger of Microsoft and Activision Blizzard

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Regulators voted 3-1 to stop the biggest acquisition in video game history, citing concerns over thwarting of competition

The US Federal Trade Commission (FTC) has moved to block Microsoft’s takeover of video game company Activision Blizzard, citing concerns that the deal would thwart competition by denying rivals access to popular gaming content.

Microsoft, which owns the Xbox video game console system, said in January 2022 that it would buy Activision for $68.7bn, which would make it the biggest gaming industry deal in history. Activision is the maker of popular games including Call of Duty and World of Warcraft.

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Microsoft co-founder’s collection poised to raise $1bn in ‘largest art auction in history’

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Proceeds from sale of 150 works owned by the late billionaire Paul Allen will go to charity

The vast private art collection of the late Microsoft co-founder Paul Allen is expected to fetch a record-breaking $1bn (£890m) when it is auctioned next week.

The collection of more than 150 masterpieces includes Georges Seurat’s Les Poseuses, Ensemble (petite version) and Paul Cézanne’s landscape La Montagne Sainte-Victoire, which are both expected to sell for more than $100m, and Gustav Klimt’s 1903 work Birch Forest, which has an auctioneer’s estimate of $90m.

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Indigenous leaders urge businesses and banks to stop supporting deforestation

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Amazon ecosystem is on verge of collapse, leaders tell brands such as Apple and Tesla as UN gathers in New York

Indigenous leaders from the Amazon have implored major western brands and banks to stop supporting the ongoing destruction of the vital rainforest through mining, oil drilling and logging, warning that the ecosystem is on the brink of a disastrous collapse.

Representatives of Indigenous peoples from across the Amazon region have descended upon New York this week to press governments and businesses, gathered in the city for climate and United Nations gatherings, to stem the flow of finance to activities that are polluting and deforesting large areas of the rainforest.

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