Technology

Bank of America sees AI transforming the internet over the next five years—top stocks to ride trend

Artificial intelligence will be a catalyst for big tech stocks in the next five years, according to Bank of America. The sector has been beaten down in 2022 thanks to macro factors, including inflation and rising interest rates. The tech-heavy Nasdaq Composite is down 25% this year, compared with the S&P 500’s nearly 12% drop. …

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Elon Musk speaks out on ‘Twitter Files’ release about platform inner workings

CNN — Twitter owner Elon Musk spoke out on Saturday evening about the so-called “Twitter Files,” a long tweet thread posted by journalist Matt Taibbi, who had been provided with details about behind-the-scenes discussions on Twitter’s content moderation decision-making, including the call to suppress a 2020 New York Post story about Hunter Biden and his …

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AWS faces cost-sensitive customers at Reinvent as economic fears mount

Amazon Web Services has been the biggest growth engine for its parent company over much of the past decade, taking business from some of the largest tech vendors in the world. But as corporations face the most daunting economic environment since the 2008 financial crisis, those massive checks they’re writing to AWS for their tech …

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Apple Makes Plans to Move Production Out of China

In recent weeks, Apple Inc. has accelerated plans to shift some of its production outside China, long the dominant country in the supply chain that built the world’s most valuable company, say people involved in the discussions. It is telling suppliers to plan more actively for assembling Apple products elsewhere in Asia, particularly India and …

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China internet firms have seen ‘peak regulation’: KraneShares

The Chinese government is unlikely to introduce new regulations for the internet tech sector and there could be more support going forward, according to Jonathan Krane of KraneShares. “I think we’ve seen peak regulation,” he told CNBC’s “Squawk Box Asia” on Wednesday. He said the rules introduced in recent years were meant to create long-term …

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China to punish internet users for ‘liking’ posts in crackdown after zero-Covid protests

hong kong CNN Business — Internet users in China will soon be held liable for liking posts deemed illegal or harmful, sparking fears that the world’s second largest economy plans to control social media like never before. China’s internet watchdog is stepping up its regulation of cyberspace as authorities intensify their crackdown on online dissent …

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Tencent bets on cloud computing growth abroad amid gaming slowdown

Tencent has faced a number of headwinds in 2022 including a Covid-induced slowdown in the Chinese economy and a tougher market for gaming. Bobby Yip | Reuters Tencent said it will launch new cloud computing products aimed at overseas markets as it searches for new avenues for growth amid a slowdown in its core online …

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‘Go into preparation and planning mode’

Big Tech layoffs have rattled the workforce, with companies like Meta, Twitter, Lyft, Coinbase and Netflix all letting go a chunk of their staff. And unfortunately, they’re not alone. Many giants in industries like banking, real estate, food services, advertising, and retail have, or are planning to, cut their companies’ headcounts amid inflation and a …

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