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US Tech Giants Suffer $1 Trillion Wipeout Following Massive Market Decline

US Tech Giants Suffer $1 Trillion Wipeout Following Massive Market Decline

Tech giants in the US lost approximately $1 trillion in market value this week due to recession fears and disappointing economic data, with sharp declines in Nvidia, Apple, and Amazon.


Nvidia’s AI Chip Faces Production Delay Due to a Design Flaw: Report

The Blackwell B200 AI chips will now take at least three more months to produce. Nvidia Corp. 's upcoming artificial intelligence chips are now facing production delays due to a design flaw, according to a report.

Nvidia Rival Groq Raises $640 Million in a New Funding Round

Groq was originally looking to raise $300 million at a slightly lower valuation. Groq, an artificial intelligence chipmaking startup, has secured more than $600 million in a recent funding round, the company announced Monday.

Google Loses Antitrust Lawsuit Over Market Dominance, Here’s How Other Tech Companies Stand

The ruling could force Google to allow users to choose which search engine to use. A federal judge on Monday ruled that Alphabet's Google broke antitrust laws and held an illegal monopoly in the United States in a landmark ruling against the tech giant.


Latest News

CyberTrap: Outsmarting Hackers with AI Deception
Historical data breaches, such as the Equifax and Target events, highlight the devastating impact of cybercriminals. High-profile cyber attacks, like those on Sony Pictures and the Colonial Pipeline, demonstrate that it's not a matter of if but when an organization will be targeted. These incidents shine a spotlight on the urgent need for advanced alternative cybersecurity measures.
Elon Musk Reignites Legal Battle Against OpenAI and CEO Sam Altman Over Alleged Fraud
After dropping his lawsuit against OpenAI and CEO Sam Altman earlier this year, Elon Musk is reigniting the feud with an accusation of deceit and fraud by shifting from a non-profit mission.
Montreal to Be Canada’s First City with 24-Hour Bars and Clubs to Boost Local Economy
Montreal is set to become the first city in Canada to allow 24-hour drinking zones to reignite local tourism, but critics argue for lack of security and public transportation.
CrowdStrike Blames Delta Air Lines  For Extended IT Outage and $500M Loss
CrowdStrike denies responsibility for Delta Air Lines' extended IT outage, arguing that the airline mismanaged the situation and contributed to a misleading narrative about the incident.
Elon Musk Slams Fed's Inaction on Rate Cuts, Calls Them 'Foolish'
Elon Musk criticized the Federal Reserve's decision not to cut interest rates, calling it "foolish" and warning that the policy could harm the US, which could potentially stall economic growth.
Global Stocks Drop As Japan's Nikkei Falls 13% and European Shares Hit Six-Month Lows
Recession fears pushed global stock markets to experience a major decline on August 5, Monday with Japan's Nikkei dropping 13%, STOXX 600 3%, and Nasdaq futures 5%.
AI Investments Rise 47% in US Venture Capital Funding—Highest Level Recorded in 2 Years
To ensure business success, knowing how to create an effective elevator pitch is key. Here's a quick guide.
Elon Musk to Move X, SpaceX HQs from California to Texas After Newsom Passes Trans Rights Law
Tesla's lawyers said a recent vote makes it clear that shareholders believe Elon Musk is entitled to the 11-figure compensation.
Chevron To Cut Up To 7,000 Jobs Due To Slump In Oil Prices
The oil giant's announcement will mark the first time Chevron will be headquartered outside of California since its founding 100 years ago.
Neuralink Postpones Second Brain-Implant Surgery Due to Patient's Health Issues
The implant could give a paralyzed patient the ability to control digital devices by thinking. Neuralink, a microchip company owned by Elon Musk, has successfully implanted a brain chip into a second trial patient just months after its first attempt.
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