China’s e-commerce giant Alibaba is reportedly scaling back its metaverse ambitions amid the rapid growth of AI. According to the South China Morning Post (SCMP), Alibaba is cutting dozens of positions within its metaverse division, with sources suggesting the company aims to restructure and enhance efficiency. Previously, Alibaba invested $60 million (roughly Rs. 504 crore) … Read more
Catherine Chen, Head of VIP and Institutional investors at Binance, sat down for an exclusive conversation with Gadgets 360 during the recently held Binance Blockchain Week in Dubai. She highlighted the growing interest in crypto among institutional investors this year, driven largely by the US SEC’s approval of crypto ETFs earlier in the year. In … Read more
JPMorgan is expanding its alliance with blockchain technology. In a recent development, the US-based bank said it has rebranded its blockchain unit, originally launched as ‘Onyx’, to ‘Kinexys’ to signify its operational roadmap for Web3 adoption. The rebranding brings along an array of new financial products and services with blockchain at the centre. This development … Read more
Microsoft will let go of 1,900 employees at Activision Blizzard and Xbox this week, it said on Thursday, the latest cuts in the technology sector that has extended massive layoffs over the past years into 2024. The cuts represent about 8 percent of the overall Microsoft Gaming division and will mostly happen at Activision Blizzard. … Read more
Microsoft has appointed DeepMind co-founder Mustafa Suleyman as the head of a newly created consumer AI unit and hired several employees of his Inflection AI startup, seeking to defend its lead against rising competition from Google. Suleyman will be CEO of the unit, Microsoft AI, the company said on Tuesday, bringing under one roof its … Read more
Apple’s top executive overseeing enterprise sales and the western European market is planning to depart the company later this year, marking the latest exit of a long-tenured manager. Mark Rogers, Apple’s vice president of western Europe and global enterprise sales, told colleagues that he’s leaving this fall, according to people with knowledge of the matter, … Read more
Samsung Electronics Co.’s pivotal chip division reported a smaller-than-expected profit as the company fights to close the gap on archrival SK Hynix Inc. in the artificial intelligence arena. Samsung is ratcheting up its research and operating costs, with executives saying the spending on memory would stay at a similarly elevated level as last year. Total … Read more
Apple is reportedly breaking up its artificial intelligence (AI) division and relocating two key product operations. As per the report, the Cupertino-based tech giant is currently moving its secretive robotics group to the hardware engineering division, after Siri was moved to the software engineering organisation in March. The process of taking away key projects from … Read more
Microsoft is reportedly planning another round of job cuts at its Xbox division as part of larger re-organisation efforts at the company. The Xbox parent is said to be gearing up to lay off a significant number of employees across its entire gaming division. The move would follow several rounds of layoffs at Xbox last … Read more