TSMC Reports Earnings and Google Fires 28 Employees | Bloomberg Technology

19 Apr 2024 (8 months ago)

Technology Industry Trends

TSMC reports strong demand for AI and high-performance computing but weak smartphone sales, particularly in China.
Micron to receive $6.1 billion grant from the US government to build capacity in the United States under the CHIPS Act.
Huawei launches its latest P50 smartphone series in China, competing with Apple's iPhone 15 in the high-end segment.
Deliveroo reports a 2% increase in orders during Q1, driven by growth in its international food delivery segment.
Netflix's earnings report shows a 14% increase in revenue for its fiscal first quarter but faces challenges due to a high bar set by its previous $112 billion rally.
Indian technology companies underwhelmed in terms of overall revenues.
Cryptocurrencies, including Bitcoin, are bouncing back after a recent sell-off.

Google fires 28 employees involved in protests against Project Nimbus, a $1.2 billion joint contract with Amazon to provide AI and cloud services to the Israeli government and military.
Fired employees were mostly software engineers, some of whom worked on cloud services and Project Nimbus (Google's AI lab involved in controversial projects).
Employees believed their work indirectly contributed to Israel's military actions in Gaza but did not have direct visibility into how Israel used Google's technology.
This situation represents a shift in Google's culture, which traditionally encouraged open debate and employee activism.
Despite Google's strong message against workplace activism, many employees feel supported, and the possibility of continued strikes or protests remains.

Cisco introduces "Cisco Hypershield," an AI-powered security solution to protect against AI-based attacks.
Cisco's approach is considered radical as it uses AI to defend against AI threats and significantly reduces the time needed to respond to vulnerabilities.
The product was well-received by Chief Information Security Officers, with some expressing a desire to purchase multiple units.
Cisco emphasizes collaboration with ecosystem partners like Nvidia to optimize security models for their GPUs.
Pricing for Cisco Hypershield will be based on workload and is expected to be announced closer to its general availability in August.
Cisco offers the option of human oversight for customers who prefer a safety net before fully automating system updates.

Maven Clinic, a virtual clinic for women and family health, has expanded its fertility and family-building program.
Maven Clinic founder and CEO Kate Ryder discusses the benefits of offering fertility benefits to employees, including reduced costs, increased talent acquisition and retention, and improved health equity.
Maven Clinic has grown its revenues by 95% last year and is seeing continued growth in international markets.
Maven Clinic is not considering going public this year but is headed in that direction in the future.
Maven Clinic's biggest competition is the status quo, and the company is working to change mindsets and build awareness of the importance of fertility benefits.

The US Congress is considering a bill that would force TikTok's Chinese parent company, ByteDance, to divest its ownership stake in the popular social media app.
The bill has been fast-tracked and is expected to be voted on in the House of Representatives on Saturday.
If passed, the bill would give ByteDance a year to divest its ownership of TikTok or face a ban in the United States.
TikTok has stated that it will fight the bill in court, arguing that it violates the First Amendment.
Some experts believe that a ban on TikTok would be unpopular with young voters, who are the app's primary user base.
The bill's passage would delay the decision on TikTok's ownership until after the next presidential election.