Alphabet/Google stock price drops with concerns Microsoft is winning the Cloud AI Race. 41 states are suing Meta Over Youth Addiction Concerns. IBM has some good news in the world of AI and the Pope wants your kids to learn Python – yup, Code with the Pope.
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These and more top tech stories on Hashtag Trending
I’m your host Jim Love, CIO of IT World Canada and Tech News Day in the US.
Alphabet’s share price slumped on Wednesday as its cloud unit’s growth hit a near three-year low. This decline is in stark contrast to Microsoft’s growth in the same domain, especially in the race to monetize generative artificial intelligence.
Alphabet’s shares dropped by 9.6 per cent while Microsoft saw a 2.8 per cent gain.
Investors seem to have some concern that Alphabet might lose its cloud market share to Microsoft.
Microsoft’s focus on its core business clients and its partnership with OpenAI has allowed it to move swiftly in the AI domain.
Alphabet’s slower AI service rollout and perception that they are focused on startups might be delaying its potential earnings from this new technology.
Sources include: Reuters
State attorneys general from 41 states, along with the District of Columbia, have initiated legal action against Meta, formerly known as Facebook.
This lawsuit follows a multistate investigation that began in 2021, which delved into the design features of Facebook and Instagram, alleging that they were intentionally crafted to addict and harm young users.
The probe was spearheaded by the Massachusetts attorney general’s office after whistleblower Frances Haugen revealed that Facebook was aware of Instagram’s detrimental effects on teen girls but downplayed the risks.
Massachusetts Attorney General Andrea Joy Campbell accused Meta of exploiting young users for profit.
While Meta has made some changes to address these concerns, states argue that these measures are insufficient and demand more significant modifications to ensure the safety of younger users.
Sources include: Ars Technica
IBM had happy news with its third-quarter revenue, which surpassed Wall Street’s predictions. The company’s shares saw a 2 per cent increase in post-market trading.
Consistent demand for IBM’s software solutions and an unexpectedly robust mainframe business were a big part of the news.
It hasn’t all been smooth sailing.
There have been challenges in the current macroeconomic climate, which has led to tighter client budgets, especially in consulting.
The company has experienced a growth slowdown compared to the previous year in these areas.
But IBM’s generative artificial intelligence (AI) business reported figures in the “low hundreds of millions of dollars” for the third quarter.
Despite the attention on OpenAI, Microsoft and other AI offerings, IBM is still a major force in providing AI applications to enterprises, and reported a surge in interest for its software and consulting services, especially from clients eager to integrate this technology into their operations.
As well, the revenue for IBM’s software segment, now inclusive of the recently acquired IT budgeting software company Apptio, grew by nearly 8 per cent.
Sources include: Reuters
Qualcomm has introduced a new processor, the Snapdragon Elite X, which it claims surpasses the top laptop chips from both Apple and Intel. This advancement could position Qualcomm to secure a larger portion of the PC market. The Snapdragon Elite X, a product of Qualcomm’s $1.4 billion acquisition of Nuvia, is set to be available to consumers in the upcoming year. The chip boasts a 12-core Oryon CPU operating at 3.8GHz and is anticipated to feature in computers by mid-next year, with Lenovo and HP among the first to launch devices utilizing this chip.
Qualcomm’s CEO, Cristiano Amon, highlighted the chip’s efficiency, noting that it can match Apple’s M2 Max power while consuming 30 per cent less energy and can equal Intel’s top laptop chip performance using nearly 70 per cent less power.
The PC chip landscape, traditionally dominated by Intel and AMD, is becoming more competitive. Nvidia is also set to introduce a PC processor using ARM’s architecture by 2025, and AMD is expected to release an ARM-based chip option.
In addition, Qualcomm recently demonstrated a smartphone running Stable Diffusion, producing an image in under a second, highlighting the advancements in on-device AI capabilities.
Clearly, Qualcomm is showing that it’s going after some of the big players in the laptop and smartphone market.
Sources include: Axios
Pope Francis has endorsed a global project initiated by Polish tech entrepreneur Miron Mironiuk, which aims to introduce more children to computer programming.
Mironiuk, the founder of AI company Cosmose AI, launched the “Code with Pope” initiative to address educational disparities worldwide.
The Pope’s involvement is expected to boost the program’s appeal in Catholic nations. The project offers a free online learning platform for students aged 11-15 in Europe, Africa, and Latin America. After 60 hours of instruction, participants will have a foundational understanding of Python, a leading programming language.
Given the increasing importance of tech roles, this initiative seeks to address the anticipated global tech skill shortage, which could result in 85 million unfilled jobs by 2030.
Who said we didn’t have a prayer of filling all those open positions?
Sources include: BBC News
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