Tesla, the electric-vehicle maker, recently announced that it will be cutting approximately 600 more employees at its manufacturing facilities and engineering offices in California. This latest round of layoffs spans various departments and roles, impacting factory workers, software developers, and robotics engineers. The company has been restructuring its workforce since January due to weakening demand
Enterprise
India is perceived as providing a very favorable environment for companies looking to launch initial public offerings (IPOs), according to Shailendra Singh, managing director at Peak XV Partners. Singh emphasized the positive aspects of the Indian public markets, highlighting the efficacy of the regulatory framework established by authorities like the Securities and Exchange Board of
The recent departure of Ilya Sutskever, a co-founder of OpenAI, has once again brought the spotlight on the leadership crisis that has been unfolding within the Microsoft-backed startup. The departure of Sutskever comes on the heels of a tumultuous period for OpenAI, marked by conflicts at the highest levels of the organization. One of the
Tesla, the electric vehicle giant, is currently facing a lawsuit from the nonprofit Environmental Democracy Project for what they claim is an ongoing failure to comply with the Clean Air Act at their assembly plant in Fremont, California. The lawsuit, filed in federal court in San Francisco, accuses Tesla of violating the law multiple times
Sony, the Japanese electronics giant, recently announced a 7% drop in annual profits for the fiscal year 2023. This decline was primarily caused by a decrease in its financial services division. The company also fell short of its projected unit sales for its flagship PlayStation 5 gaming console for the full year. The figures for
OpenAI recently revealed its latest advancements in artificial intelligence by launching a new AI model and desktop version of ChatGPT. This update is a significant step forward in expanding the capabilities of their popular chatbot. The company’s technology chief, Mira Murati, highlighted the key features of the new model, GPT-4o, including its enhanced speed and
SoftBank recently reported a 724.3 billion Japanese yen gain on its Vision Fund in the fiscal year ended March, marking the first time the flagship tech investment arm has been in the black since 2021. This turnaround in performance is significant as the Vision Fund segment posted a profit of 128.2 billion yen for the
In a recent development, a federal judge in California made a decision to dismiss a lawsuit filed by Elon Musk’s X against Israel’s Bright Data. The lawsuit revolved around the contentious issue of data scraping and its appropriate utilization. X, previously known as Twitter, accused Bright Data of engaging in the practice of scraping data
Recently, climate protesters in Germany have been expressing their anger towards Tesla’s plans to expand its Berlin-Brandenburg Gigafactory. The protesters even attempted to break into the plant in an effort to halt the expansion. Police Efforts to Prevent Entry Local police in Brandenburg issued a statement regarding the situation, confirming that multiple unauthorized individuals were
Semiconductor Manufacturing International Corporation (SMIC) recently warned of intense competition in the chip industry after its first-quarter profit missed expectations. The company acknowledged that competition in the industry has been increasingly fierce and pricing for commodity products typically follows market trends. This indicates a challenging environment for SMIC as they navigate through the competitive landscape