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Apple Challenges India’s Antitrust Penalty Law That Could Cost It $38 Billion: Report
Apple has approached the Delhi High Court to challenge an amended CCI penalty rule that lets regulators impose fines based on a company’s global turnover. The company argues the formula is arbitrary and disproportionate, noting it could face penalties of up to $38 billion if found guilty in an ongoing App Store investigation. The case is schedule...
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Apple Challenges Antitrust Penalty Law In India, Risks $38 Billion Fine
The challenge is the first against India's antitrust penalty law that since last year allows the Competition Commission of India (CCI) to use global turnover when calculating the penalties it imposes on companies for abusing their market dominance.
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Emirates' $38 Billion Shopping List In Dubai Comprises 65 Boeing 777-9s
The biennial Dubai Air Show opened Monday with hometown airline Emirates ordering 65 of Boeing's upcoming 777-9 aircraft.
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OpenAI Turns to Amazon in $38 Billion Cloud Services Deal After Restructuring
OpenAI has entered a seven-year agreement with Amazon worth $38 billion to purchase cloud services, after last week's restructuring that granted it more autonomy. The deal provides OpenAI access to hundreds of thousands of Nvidia GPUs, essential for training and operating its AI models, including ChatGPT, as it accelerates its artificial intelligen...
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OpenAI To Meta: How Tech Giants Are Pouring Billions Into AI Infrastructure
OpenAI and Amazon have signed a multi-year agreement worth $38 billion under which the e-commerce giant will provide the ChatGPT maker access to hundreds of thousands of Nvidia processors to train and run its artificial intelligence models.
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OpenAI Strikes $38 Billion Infrastructure Deal With Amazon AWS
ChatGPT-maker OpenAI signed a $38 billion deal Monday with Amazon's AWS cloud computing arm, as the artificial intelligence company continues on a major partnership spree that has also included Oracle, Broadcom, AMD and chip-making juggernaut Nvidia.
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Samsung Sees Q1 Profit Beating Estimates as Looming Tariffs Spur Chip, Phone Sales
Samsung Electronics on Tuesday flagged a much smaller-than-feared 0.2 percent fall in first-quarter operating profit. The world's largest memory chipmaker estimated an operating profit of KRW 6.6 trillion ($4.49 billion or roughly Rs. 38,608 crore) for the January-March period, well above a KRW 5.1 trillion (roughly Rs. 29,706 crore) LSEG SmartEst...
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Nvidia's Forecast Dampens AI Enthusiasm in Other Tech Stocks
Nvidia dropped almost seven percent and lost $200 billion (roughly Rs.16,77,898 crore) in stock market value after it forecast third-quarter gross margins that could miss market estimates and revenue that was largely in line. A handful of other AI-related companies shed around $100 billion (roughly Rs. 8,38,948 crore) in combined value.
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Bitwise Says Its Bitcoin ETF Collected Highest Inflow on First Trading Day
Crypto asset manager Bitwise said on Friday that $240 million (roughly Rs. 1,990 crore) flowed into its spot bitcoin exchange-traded fund (ETF), the most of the 10 such products that began trading on Thursday. On the first day of trading, $4.6 billion (roughly Rs. 38,100 crore) worth of shares changed hands across all the products, according to LSE...
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Government Restricts Laptop, Tablet and PC Imports With Immediate Effect in Bid to Push Local Manufacturing
Imports of laptops, PCs and tablets have been restricted by the government with immediate effect, a notice said on Thursday. The government is looking to boost local manufacturing and has also extended the deadline for companies to apply for its $2 billion manufacturing incentive scheme.
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Ukraine Approves 2023 Budget With Aim For "Victory Against Russia"
Ukraine's parliament approved the 2023 draft budget with a "record deficit" of $38 billion, a senior parliamentarian said today, describing it as a "budget for victory" against Russia.
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Spotify Launches Audiobook Service for US Users, Set to Lock Horns With Amazon's Audible
Spotify has launched a new audiobook service for users in the US, allowing customers to browse through the service's audiobook catalog on the Spotify app and make purchases through the website. The music streaming service is set to lock horns with Amazon's Audible service as it enters the $4.8 billion (roughly Rs. 38,300 crore) audiobook market whi...
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Britain Sets Out Roadmap for Self Driving Vehicle Usage by 2025, Announces Plans for New Laws, Funding
Britain said on Friday it wanted a widespread rollout of self-driving vehicles on roads by 2025, announcing plans for new laws and GBP 100 million (roughly Rs. 1,000 crore) of funding. The government said it wanted to take advantage of the emerging market for autonomous vehicles, which it valued at 42 billion pounds and estimated could create 38,00...
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Lenovo India Posts Growth in Annual Revenue, Computer Shipment Increased by 20.5 Percent
Lenovo India has recorded 38 percent increase in its annual revenue. The PC maker’s revenue has reached $2.2 billion (roughly Rs. 17,000 crore) in the financial year ended March 2022.
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Twitter Reportedly to Pay $150 Million to US to Settle Allegations it Misused Private Information
Twitter has reportedly agreed to pay $150 million to settle allegations it misused private information, like phone numbers, to target advertising after telling users the information would be used for security reasons, according to court documents filed on Wednesday.
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Apple Challenges India’s Antitrust Penalty Law That Could Cost It $38 Billion: Report
Apple has approached the Delhi High Court to challenge an amended CCI penalty rule that lets regulators impose fines based on a company’s global turnover. The company argues the formula is arbitrary and disproportionate, noting it could face penalties of up to $38 billion if found guilty in an ongoing App Store investigation. The case is schedule...
-
Apple Challenges Antitrust Penalty Law In India, Risks $38 Billion Fine
The challenge is the first against India's antitrust penalty law that since last year allows the Competition Commission of India (CCI) to use global turnover when calculating the penalties it imposes on companies for abusing their market dominance.
-
Emirates' $38 Billion Shopping List In Dubai Comprises 65 Boeing 777-9s
The biennial Dubai Air Show opened Monday with hometown airline Emirates ordering 65 of Boeing's upcoming 777-9 aircraft.
-
OpenAI Turns to Amazon in $38 Billion Cloud Services Deal After Restructuring
OpenAI has entered a seven-year agreement with Amazon worth $38 billion to purchase cloud services, after last week's restructuring that granted it more autonomy. The deal provides OpenAI access to hundreds of thousands of Nvidia GPUs, essential for training and operating its AI models, including ChatGPT, as it accelerates its artificial intelligen...
-
OpenAI To Meta: How Tech Giants Are Pouring Billions Into AI Infrastructure
OpenAI and Amazon have signed a multi-year agreement worth $38 billion under which the e-commerce giant will provide the ChatGPT maker access to hundreds of thousands of Nvidia processors to train and run its artificial intelligence models.
-
OpenAI Strikes $38 Billion Infrastructure Deal With Amazon AWS
ChatGPT-maker OpenAI signed a $38 billion deal Monday with Amazon's AWS cloud computing arm, as the artificial intelligence company continues on a major partnership spree that has also included Oracle, Broadcom, AMD and chip-making juggernaut Nvidia.
-
Samsung Sees Q1 Profit Beating Estimates as Looming Tariffs Spur Chip, Phone Sales
Samsung Electronics on Tuesday flagged a much smaller-than-feared 0.2 percent fall in first-quarter operating profit. The world's largest memory chipmaker estimated an operating profit of KRW 6.6 trillion ($4.49 billion or roughly Rs. 38,608 crore) for the January-March period, well above a KRW 5.1 trillion (roughly Rs. 29,706 crore) LSEG SmartEst...
-
Nvidia's Forecast Dampens AI Enthusiasm in Other Tech Stocks
Nvidia dropped almost seven percent and lost $200 billion (roughly Rs.16,77,898 crore) in stock market value after it forecast third-quarter gross margins that could miss market estimates and revenue that was largely in line. A handful of other AI-related companies shed around $100 billion (roughly Rs. 8,38,948 crore) in combined value.
-
Bitwise Says Its Bitcoin ETF Collected Highest Inflow on First Trading Day
Crypto asset manager Bitwise said on Friday that $240 million (roughly Rs. 1,990 crore) flowed into its spot bitcoin exchange-traded fund (ETF), the most of the 10 such products that began trading on Thursday. On the first day of trading, $4.6 billion (roughly Rs. 38,100 crore) worth of shares changed hands across all the products, according to LSE...
-
Government Restricts Laptop, Tablet and PC Imports With Immediate Effect in Bid to Push Local Manufacturing
Imports of laptops, PCs and tablets have been restricted by the government with immediate effect, a notice said on Thursday. The government is looking to boost local manufacturing and has also extended the deadline for companies to apply for its $2 billion manufacturing incentive scheme.
-
Ukraine Approves 2023 Budget With Aim For "Victory Against Russia"
Ukraine's parliament approved the 2023 draft budget with a "record deficit" of $38 billion, a senior parliamentarian said today, describing it as a "budget for victory" against Russia.
-
Spotify Launches Audiobook Service for US Users, Set to Lock Horns With Amazon's Audible
Spotify has launched a new audiobook service for users in the US, allowing customers to browse through the service's audiobook catalog on the Spotify app and make purchases through the website. The music streaming service is set to lock horns with Amazon's Audible service as it enters the $4.8 billion (roughly Rs. 38,300 crore) audiobook market whi...
-
Britain Sets Out Roadmap for Self Driving Vehicle Usage by 2025, Announces Plans for New Laws, Funding
Britain said on Friday it wanted a widespread rollout of self-driving vehicles on roads by 2025, announcing plans for new laws and GBP 100 million (roughly Rs. 1,000 crore) of funding. The government said it wanted to take advantage of the emerging market for autonomous vehicles, which it valued at 42 billion pounds and estimated could create 38,00...
-
Lenovo India Posts Growth in Annual Revenue, Computer Shipment Increased by 20.5 Percent
Lenovo India has recorded 38 percent increase in its annual revenue. The PC maker’s revenue has reached $2.2 billion (roughly Rs. 17,000 crore) in the financial year ended March 2022.
-
Twitter Reportedly to Pay $150 Million to US to Settle Allegations it Misused Private Information
Twitter has reportedly agreed to pay $150 million to settle allegations it misused private information, like phone numbers, to target advertising after telling users the information would be used for security reasons, according to court documents filed on Wednesday.
