Top tech news stories today: August 2, 2024

Top tech news stories today: August 2, 2024 is profiled by BTW Media because public-source evidence links it to internet infrastructure, governance, operational dependencies, or market visibility.

Fintech

1. Coinbase beats revenue estimates as crypto markets ride ETF euphoria

Coinbase’s second-quarter revenue surpassed Wall Street expectations on Thursday as trading volumes roared back to life thanks to market euphoria over easing regulatory roadblocks, sending shares of the crypto exchange 3% higher after the bell. (Reuters)

2. Talen Energy offers up nuclear-powered crypto mining campus stake, sources say

Talen Energy is looking to sell its stake in a cryptocurrency mining operation powered by its Pennsylvania nuclear plant in a process marketed to both data center developers and cryptominers, three sources familiar with the process said. (Aol.)

IT infrastructure

3. Merck raises outlook for electronics and healthcare, sees improved chip market demand

Merck KGaA said its semiconductor business has reached a turning point amid the artificial intelligence surge, one of the reasons for the German company’s improved earnings forecast. (Bloomberg)

Tech trends

4. Elon Musk sued by ex-CNN anchor Don Lemon over canceled X deal

Former CNN anchor Don Lemon sued Elon Musk, alleging he used news of a partnership deal with the journalist to boost the company’s profile, then reneged on the deal without compensating him. (CNBC)

5. EU approves Hewlett Packard Enterprise’s $14 billion Juniper deal

The EU Commission on Thursday said it had unconditionally approved the $14 billion takeover of networking gear maker Juniper Networks by Hewlett Packard Enterprise. (Aol.)

6. Keir Starmer warns social media firms after Southport misinformation fuels riots

British Prime Minister Keir Starmer warned social media companies that they must uphold laws that prohibit the incitement of violence online after misinformation around a fatal mass stabbing earlier in the week sparked violent scenes. (MSN)

7. India’s Ola Electric IPO attracts $2 bln of bids from big institutions, source says

Ola Electric’s IPO drew bids worth over $2 billion from institutions ahead of its opening for retail investors, with shares allocated to Nomura, Norges Bank and some Indian mutual funds, a source with direct knowledge said. (Reuters)

8. Roblox raises bookings forecast, CFO exit weighs on shares

Roblox raised its annual bookings forecast on Thursday, as user engagement increased on its platform during the summer holidays and more mature content helped it draw users with higher spending power. (Aol.)

9. Japan’s Nissan, Honda to jointly research software, start talks with Mitsubishi

Japanese automakers Nissan Motor and Honda Motor have agreed to conduct joint research into technologies for a next-generation software platform. (NADA)

AI

10. Apple pins hopes on AI for iPhone upgrades as China sales falter

Apple said its third-quarter iPhone sales were better than expected and forecast more gains on Thursday (Aug 1) as it bets on artificial intelligence to attract buyers, even as its overall China business disappointed. (CNA)

11. Chip index collapses 7% as Arm punctures AI optimism

U.S. chip stocks plummeted on Thursday in their worst day since 2020 after a conservative forecast from Arm Holdings dampened investor optimism about artificial intelligence and data signaled a cooling economy. (Investing.com)

12. Striking U.S. video game actors say AI threatens their jobs

Striking video game voice actors and motion-capture performers held their first picket on Thursday in front of Warner Bros. (Market Screener)

13. Arm shares tumble as downbeat revenue forecast clouds potential AI upside

Arm Holdings shares slumped 16% in afternoon trading on Thursday, after the British chip firm’s tepid revenue forecast sparked concerns it may have to wait longer than some peers to gain from the boom in AI technologies. (MSN)

14. Contextual AI raises $80 mln for model-enhancing technique

Contextual AI has secured $80 million in a Series A funding round led by Greycroft, boosting its mission to bring advanced AI tech to market. (finimize)

15. Facebook parent Meta sees strong global ad sales while keeping AI costs in check

Meta Platforms beat market expectations for second-quarter revenue on Wednesday and issued a rosy sales forecast for the third quarter, signaling that robust digital-ad spending on its social media platforms can cover the cost of its artificial-intelligence investments. (MSN)