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The week brought a flurry of news from the tech world. From antitrust investigations to new regulations and impressive earnings, the industry was buzzing with developments. Here’s a quick recap of the top stories.
Nvidia Under DOJ’s Lens
Nvidia Corp. (NASDAQ:NVDA) saw its stock dip by nearly 2% on Friday following reports of a Department of Justice (DOJ) antitrust investigation. The probe, sparked by complaints from competitors, is looking into allegations of monopolistic practices in the AI chip market. The DOJ is particularly interested in whether Nvidia has been pressuring cloud providers to purchase multiple Nvidia products. Read the full article here.
Biden’s Rule: A Boon for the Chip Sector
The Biden administration is set to introduce a new rule that could significantly impact the semiconductor industry. The rule will expand U.S. powers to halt exports of semiconductor manufacturing equipment from certain foreign countries to China. This move is expected to be a huge positive for the chip sector and its supply chain, according to a prominent tech analyst. Read the full article here.
Microsoft’s Copilot: A Revenue Driver for GitHub
Microsoft Corp. (NASDAQ:MSFT) AI-powered developer tool, Copilot, has been a significant contributor to GitHub's revenue growth. Microsoft CEO Satya Nadella revealed that Copilot has been adopted by over 77,000 organizations, marking a 180% increase year-over-year. This has led to GitHub's annual revenue run rate hitting $2 billion, with Copilot accounting for over 40% of GitHub's revenue growth this year. Read the full article here.
Meta’s Llama 3.1: An Industry Inflection Point
Meta Platforms, Inc. (NASDAQ:META) CEO Mark Zuckerberg announced that the company's $405 billion model, Llama 3.1, has better cost performance compared to leading closed models, possibly referring to OpenAI's ChatGPT. Zuckerberg believes that Llama 3.1 represents an inflection point in the industry where open-source AI starts to become the industry standard. Read the full article here.
Microsoft’s Q4 Earnings: A Revenue Beat
Microsoft reported fourth-quarter revenue of $64.7 billion, up 15% year-over-year. The revenue total beat a Street consensus estimate of $64.36 billion. The company’s cloud revenue also saw a significant increase, rising by 21% year-over-year. Read the full article here.
This story was generated using Benzinga Neuro and edited by Rounak Jain
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