The Nasdaq's fall, Google's AI & OpenAI's new search engine: This week in tech
The massive tech stock selloff may be short-lived, according to one analyst
By
Laura Bratton
Tech stocks suffered this week as investors were disappointed by Google and Tesla earnings. More AI upgrades came online: Google unveiled a free version of its fastest Gemini AI model; OpenAI launched its own search engine to rival Google Search.
And Quartz’s Britney Nguyen took a look at Kamala Harris’ standing on tech and AI. Here’s our weekly tech news roundup.
Kamala Harris is no stranger to the tech industry. Here’s what she’s done about AI
Vice President Kamala Harris is now the front-runner to be the Democratic nominee for president — and she’s no stranger to the tech industry.
Sam Altman gave people $1,000 a month for 3 years. Here’s what happened
The CEO of ChatGPT-maker OpenAI, Sam Altman, funded the largest basic income study in the U.S. to date. His nonprofit, OpenResearch, worked with researchers to give people living below the poverty line unconditional cash payments for three years.
Reddit’s big sports move is boosting the stock
Reddit is plunging headfirst into the lucrative sports marketing sector.
Mark Zuckerberg wants Meta’s newest AI model to become the industry standard
Meta is taking on its artificial intelligence rivals with the latest version of its Llama model, saying open-source AI is “good for the world.”
Alexa is losing Amazon billions of dollars
Amazon’s plan to make money through its Alexa-enabled devices has reportedly not paid off — and is actually losing the company billions of dollars.
The CrowdStrike tech outage cost the biggest companies more than $5 billion
The global tech outage that took entire industries offline on Friday carried with it a hefty price tag for impacted businesses.
Tesla’s profits keep sinking
Tesla on Tuesday reported a 45% decline in net profit during its second quarter as the electric vehicle company continues to grapple with slowing demand and increased competition.
Nvidia will start using Samsung’s memory in its AI chips for China
As Nvidia prepares for possible challenges to its chip business in China, the chipmaker is reportedly turning to Samsung for a key part of its specially-designed processor.
Google’s no-deal with Wiz is an opportunity for Microsoft, analyst says
What would have been Google’s largest acquisition is no more. And that will have big implications for the tech industry — namely, Microsoft.
Apple’s iPhone discounts in China aren’t helping
Apple got a little bit of respite from its China woes in March and April when it made headlines for improving iPhone sales in the country. The company even briefly beat its Chinese competitors when it offered steep discounts on its smartphones during an online shopping festival in May.
The massive tech stock selloff triggered by Google and Tesla ‘will be short-lived’
The Nasdaq had its worst day of 2024 on Wednesday. Shares of tech giants fell sharply after Google’s and Tesla’s second-quarter earnings — and hefty AI-related costs — disappointed investors.
Google just upgraded the free version of Gemini AI with its fastest model yet
The free version of Google’s generative artificial intelligence-powered chatbot, Gemini, is apparently getting faster, more helpful responses.
OpenAI’s rival to Google search is here
While Google faces threats to its search-engine dominance, OpenAI has a new prototype it plans to add to its challenger, ChatGPT.
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