Finance
LG Display’s New CEO Takes Charge with a Focus on Profitability
December 05, 2023 – LG Display, after enduring six consecutive quarters of operating losses, welcomed its new CEO, Jeong Cheol-dong, who officially assumed office last Friday. He emphasized that improving the company’s performance and turning losses into profits is the most pressing task at hand. In his inaugural message to the employees, Jeong Cheol-dong stated,…
Managing Expectations: OpenAI’s Cautionary Note on AI Business Transformations
December 05, 2023 – OpenAI’s Cautionary Note on Rapid Business Transformation with AI While OpenAI is actively working towards expanding its enterprise user base, some of the company’s top executives are cautioning against expecting rapid, transformative changes in their businesses through this technology. In an interview with CNBC, OpenAI’s Chief Operating Officer, Brad Lightcap, emphasized…
Spotify Announces Layoffs of 1,500 Employees Amid Rising Costs
December 04, 2023 – Spotify, in an email statement today, announced its decision to lay off 1,500 employees, constituting 17% of its workforce, citing “rising costs.” This comes after the company had already let go of 600 employees in January and another 200 in June of this year. Earlier reports revealed that Spotify posted its…
Altman’s Potential Windfall: OpenAI’s AI Chip Deal with Rain AI
December 04, 2023 – Despite the recent turmoil surrounding Sam Altman, including his dismissal and subsequent reinstatement, it appears that he stands to profit even if OpenAI continues developing ChatGPT without him. This potential windfall is tied to an agreement that OpenAI entered into while Altman was CEO. The company signed a letter of intent…
Apple’s Shift Towards 6G Technology Development
December 04, 2023 – Apple’s 6G Endeavor Takes Center Stage In a recent edition of “Power On” by Mark Gurman of Bloomberg, Apple’s plans for 6G technology development were brought to the forefront. Simultaneously, in his own Twitter post, Gurman boldly declared, “Forget Apple’s 5G modem – though it’s not officially canceled, Apple’s 6G research…
OpenAI’s Employee Stock Sale Plan: A December Update
December 01, 2023 – OpenAI, the artificial intelligence startup, is reportedly sticking to its plan to allow employees to sell their company shares through a “tender offer,” granting them an additional month to consider selling their holdings, according to multiple sources. Insiders had previously revealed that OpenAI has been in negotiations with investors regarding the…
NVIDIA CEO Predicts AI Will Surpass Human Abilities in Five Years
November 30, 2023 – During the DealBook Summit held on November 29th, NVIDIA’s CEO Jensen Huang made a bold declaration, stating that artificial intelligence would surpass human capabilities within the next five years. Huang explained that if we consider General Artificial Intelligence (AGI) as a computer capable of performing tasks in a manner comparable to…
OpenAI Announces Sam Altman’s Return as CEO in Landmark Agreement
November 30, 2023 – OpenAI officially welcomes back Sam Altman as its Chief Executive Officer (CEO). The company announced the completion of the agreement that marks Altman’s return. Concurrently, Microsoft revealed its acquisition of a non-voting observer seat on the non-profit board governing OpenAI. In a memorandum shared with staff, Altman expressed unprecedented excitement about…
Turmoil and Turnaround: OpenAI’s Sudden CEO Shift and Board Restructuring
November 29, 2023 – Insider sources have informed Reuters that OpenAI, currently undergoing a restructuring phase, is not expected to extend board seats to other investors such as Microsoft, Khosla Ventures, and Thrive Capital. It’s noteworthy that Microsoft stands as OpenAI’s largest supporter, having previously committed billions of dollars in investments to the company. Amidst…
Global Workforce Impacted: Unity to Slash 3.8% of Jobs in Cost-Cutting Measure
November 29, 2023 – Unity Corporation, having faced severe criticism from developers for its recently announced pricing system, witnessed a significant decline in engine installations. The backlash resulted in the departure of the company’s CEO. Despite the subsequent release of Unity 6 engine, the company continued to grapple with a downturn in its performance. According…