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Source: https://www.scommerce.com/feed/

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<title>Nokia acquires Rapid’s technology assets</title>
<link>https://www.scommerce.com/technology/nokia-acquires-rapids-technology-assets/?utm_source=rss&utm_medium=rss&utm_campaign=nokia-acquires-rapids-technology-assets</link>
<dc:creator><![CDATA[Alex Morrison]]></dc:creator>
<pubDate>Fri, 15 Nov 2024 12:23:23 +0000</pubDate>
<category><![CDATA[Technology]]></category>
<guid isPermaLink="false">https://www.scommerce.com/?p=48521</guid>
<description><![CDATA[Rapid’s application programming interface technology features a public marketplace, enterprise services and an enterprise-grade API hub Finnish technology giant Nokia has acquired Rapid’s technology assets, including its API hub, to strengthen its network API solutions. Financial terms of the transaction, which also includes Rapid’s R&D unit, were not disclosed. This acquisition aligns with Nokia’s strategy […]
The post <a href="https://www.scommerce.com/technology/nokia-acquires-rapids-technology-assets/">Nokia acquires Rapid’s technology assets</a> first appeared on <a href="https://www.scommerce.com">Scommerce - Social Commerce Platform, Social Media News</a>.]]></description>
<content:encoded><![CDATA[<img fetchpriority="high" decoding="async" width="1000" height="559" src="https://www.scommerce.com/wp-content/uploads/2021/05/digital-technology.jpg?x82456" class="attachment-full size-full wp-post-image" alt="digital technology" style="float:right; margin:0 0 10px 10px;" />Rapid’s application programming interface technology features a public marketplace, enterprise services and an enterprise-grade API hub
Finnish technology giant Nokia has acquired Rapid’s technology assets, including its API hub, to strengthen its network API solutions.
Financial terms of the transaction, which also includes Rapid’s R&D unit, were not disclosed.
This acquisition aligns with Nokia’s strategy to expand its network API product road map and lead the application programming interface ecosystem, enabling operators, systems integrators, independent software vendors and hyper-scalers to leverage 5G and 4G network capabilities.
With investments in 5G, operators are using network APIs to monetise their network assets by enabling access to network functions to developers.
This allows developers to create and sell new consumer, enterprise and industrial applications.
Rapid’s application programming interface technology features a public marketplace, enterprise services and an enterprise-grade API hub.
This hub enables companies to design, build, test and share APIs within their organisation and with external partners.
It also allows developers to list and monetise their APIs and connect with several other application programming interfaces.
Integrating Rapid’s API technology with Nokia’s Network as Code platform and developer portal is expected to enable operators to integrate networks, manage API usage, enhance life cycle management and collaborate with Rapid’s developer base on the public API marketplace.
Nokia president of cloud and network services Raghav Sahgal noted: Operators need a bridge to connect to thousands of developers to drive enterprise and consumer value creation and monetise their networks.
Rapid’s technology and talented R&D team, together with Nokia, will allow us to bring a robust API infrastructure platform to accelerate network API-related product development and drive adoption across its broad global developer community, he said.
Rapid chief executive officer Marc Friend added: We are pleased to join forces with Nokia. The combination of Rapid’s API technology and R&D expertise with Nokia’s scale and network and API domain expertise will enable us to expand the wider API ecosystem.The post <a href="https://www.scommerce.com/technology/nokia-acquires-rapids-technology-assets/">Nokia acquires Rapid’s technology assets</a> first appeared on <a href="https://www.scommerce.com">Scommerce - Social Commerce Platform, Social Media News</a>.]]></content:encoded>
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<item>
<title>Australia will require social media to prevent online harms</title>
<link>https://www.scommerce.com/social-network/australia-will-require-social-media-to-prevent-online-harms/?utm_source=rss&utm_medium=rss&utm_campaign=australia-will-require-social-media-to-prevent-online-harms</link>
<dc:creator><![CDATA[Alex Morrison]]></dc:creator>
<pubDate>Fri, 15 Nov 2024 12:23:21 +0000</pubDate>
<category><![CDATA[Social Network]]></category>
<guid isPermaLink="false">https://www.scommerce.com/?p=48520</guid>
<description><![CDATA[The proposed changes to the Online Safety Act were announced before the government next week introduces to Parliament world’s first legislation that would ban children below 16 from social media platforms Australia plans to require social media platforms to act to prevent online harms to users such as bullying, predatory behaviour and algorithms pushing destructive […]
The post <a href="https://www.scommerce.com/social-network/australia-will-require-social-media-to-prevent-online-harms/">Australia will require social media to prevent online harms</a> first appeared on <a href="https://www.scommerce.com">Scommerce - Social Commerce Platform, Social Media News</a>.]]></description>
<content:encoded><![CDATA[<img decoding="async" width="1000" height="563" src="https://www.scommerce.com/wp-content/uploads/2020/06/Hacking-Group.jpg?x82456" class="attachment-full size-full wp-post-image" alt="Hacking Group" style="float:right; margin:0 0 10px 10px;" />The proposed changes to the Online Safety Act were announced before the government next week introduces to Parliament world’s first legislation that would ban children below 16 from social media platforms
Australia plans to require social media platforms to act to prevent online harms to users such as bullying, predatory behaviour and algorithms pushing destructive content, the government said Thursday.
The Digital Duty of Care will place the onus on digital platforms to proactively keep Australians safe and better prevent online harms, Communications Minister Michelle Rowland said in a statement.
The proposed changes to the Online Safety Act were announced before the government next week introduces to Parliament world’s first legislation that would ban children below 16 from platforms including X, Instagram, Facebook and TikTok.
Critics have argued that removing children from social media reduced incentives for platforms to provide safer online environments.
Social media has been blamed for a rise in children taking their own lives and developing eating disorders due to bullying and exposures to negative body images.
Rowland said making tech companies legally responsible for keeping Australians safe was an approach already adopted by Britain and the EU.
Digital businesses would be required to take reasonable steps to prevent foreseeable harms on their platforms and services. The duty of care framework would be underpinned by risk assessment and risk mitigation, and informed by safety-by-design principles, Rowland said.
Legislating a duty of care would mean services cannot “set and forget.” Instead, their obligations would mean they need to continually identify and mitigate potential risks, as technology and service offerings change and evolve, she added.
The categories of harm in the legislation include harm to young people and mental well-being, promotion of harmful practices and illegal activity.
The government has not said when the duty of care legislation will be introduced to Parliament or outlined the punishment for breaches.
The Digital Industry Group Inc. (DIGI), an advocate for the digital industry in Australia, welcomed government efforts to “future-proof” the Online Safety Act.
DIGI’s members together represent some of the safest sections of the Internet, and their work to keep people safe on their services never stops, DIGI MD Sunita Bose said in a statement.
While we wait for further details about this announcement, DIGI’s members will continue to deliver safety-by-design on their services and work constructively with the government to keep Australians safe online, she said.The post <a href="https://www.scommerce.com/social-network/australia-will-require-social-media-to-prevent-online-harms/">Australia will require social media to prevent online harms</a> first appeared on <a href="https://www.scommerce.com">Scommerce - Social Commerce Platform, Social Media News</a>.]]></content:encoded>
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<title>Tencent’s AI investment yet to turn into significant revenue</title>
<link>https://www.scommerce.com/technology/tencents-ai-investment-yet-to-turn-into-significant-revenue/?utm_source=rss&utm_medium=rss&utm_campaign=tencents-ai-investment-yet-to-turn-into-significant-revenue</link>
<dc:creator><![CDATA[Alex Morrison]]></dc:creator>
<pubDate>Thu, 14 Nov 2024 12:39:15 +0000</pubDate>
<category><![CDATA[Technology]]></category>
<guid isPermaLink="false">https://www.scommerce.com/?p=48518</guid>
<description><![CDATA[The company reported revenue of 167.19 billion yuan ($23.14 billion) for the quarter ended September 30 Chinese gaming and social media leader Tencent Holdings said its investment in AI has yet to turn into significant revenue and may take several quarters to have a meaningful impact on earnings. Tencent has intensified AI efforts over the […]
The post <a href="https://www.scommerce.com/technology/tencents-ai-investment-yet-to-turn-into-significant-revenue/">Tencent’s AI investment yet to turn into significant revenue</a> first appeared on <a href="https://www.scommerce.com">Scommerce - Social Commerce Platform, Social Media News</a>.]]></description>
<content:encoded><![CDATA[<img decoding="async" width="1000" height="667" src="https://www.scommerce.com/wp-content/uploads/2022/08/Tencent.jpg?x82456" class="attachment-full size-full wp-post-image" alt="Tencent" style="float:right; margin:0 0 10px 10px;" />The company reported revenue of 167.19 billion yuan ($23.14 billion) for the quarter ended September 30
Chinese gaming and social media leader Tencent Holdings said its investment in AI has yet to turn into significant revenue and may take several quarters to have a meaningful impact on earnings.
Tencent has intensified AI efforts over the last two years, developing services for large-language model training and deployment. It has also launched Yuanbao, a chatbot powered by its proprietary Hunyuan LLM.
The company and fellow Chinese tech giants have poured billions of dollars into AI development but monetisation remains a challenge.
There are fewer AI start-ups in China which are actually buying a lot of computing power. The AI revenue in China on the cloud side is somewhat at scale for us, but I think it will not be exploding like in the U.S., Tencent President Martin Lau said on a post-earnings call with analysts late on Wednesday.
Tencent has deployed artificial intelligence to enhance its products, such as by offering more targeted advertising, but these initiatives have not generated significant revenue and may take several quarters before related earnings reach a meaningful scale, he said.
Domestic peers Baidu and Alibaba, which have also invested heavily in artificial intelligence, report earnings in coming days.
Shares in Tencent, the world’s largest video game company and operator of the WeChat messaging platform, gained 1.54% in Hong Kong trading on Thursday.
The company reported revenue of 167.19 billion yuan ($23.14 billion) for the quarter ended September 30.
Domestic gaming revenue gained 14% to 37.3 billion yuan ($5.15 billion), extending the previous quarter’s 9% growth which in turn followed two quarters of decline. International gaming revenue rose 9% to 14.5 billion yuan ($2.00 billion).The post <a href="https://www.scommerce.com/technology/tencents-ai-investment-yet-to-turn-into-significant-revenue/">Tencent’s AI investment yet to turn into significant revenue</a> first appeared on <a href="https://www.scommerce.com">Scommerce - Social Commerce Platform, Social Media News</a>.]]></content:encoded>
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<title>Facebook, Instagram users can opt for less personalized ads</title>
<link>https://www.scommerce.com/social-network/facebook-instagram-users-can-opt-for-less-personalized-ads/?utm_source=rss&utm_medium=rss&utm_campaign=facebook-instagram-users-can-opt-for-less-personalized-ads</link>
<dc:creator><![CDATA[Alex Morrison]]></dc:creator>
<pubDate>Wed, 13 Nov 2024 12:08:11 +0000</pubDate>
<category><![CDATA[Social Network]]></category>
<guid isPermaLink="false">https://www.scommerce.com/?p=48515</guid>
<description><![CDATA[Meta Platforms has been offering EU an ad-free subscription option for nearly a year to comply with the continent’s data privacy rules, but regulators had accused the company of giving people a false choice Facebook and Instagram users in Europe will get the option to see less personalized ads if they do not want to […]
The post <a href="https://www.scommerce.com/social-network/facebook-instagram-users-can-opt-for-less-personalized-ads/">Facebook, Instagram users can opt for less personalized ads</a> first appeared on <a href="https://www.scommerce.com">Scommerce - Social Commerce Platform, Social Media News</a>.]]></description>
<content:encoded><![CDATA[<img loading="lazy" decoding="async" width="1000" height="667" src="https://www.scommerce.com/wp-content/uploads/2022/11/Meta-3.jpg?x82456" class="attachment-full size-full wp-post-image" alt="Meta" style="float:right; margin:0 0 10px 10px;" />Meta Platforms has been offering EU an ad-free subscription option for nearly a year to comply with the continent’s data privacy rules, but regulators had accused the company of giving people a false choice
Facebook and Instagram users in Europe will get the option to see less personalized ads if they do not want to pay for an ad-free subscription, social media company Meta said Tuesday, complying with Brussels over privacy and digital competition concerns.
Meta Platforms has been offering EU an ad-free subscription option for nearly a year to comply with the continent’s data privacy rules, but regulators had accused the company of giving people a false choice.
The company said in a blog post that while people will still be able to choose between the subscription and existing free versions, it would also start giving free users an extra option over the coming weeks to see digital ads that are less personalized.
This means ads will be targeted at users based only on what they see during their current session on Facebook or Instagram going back no more than two hours, plus minimal personal information such as age, location, gender as well as how they engage with ads.
Data from all of a user’s previous time spent on Facebook or Instagram, which is typically combined to precisely target an individual with tailored ads, won’t be used.
While this new choice is designed to give people an additional control over their data and ad experience, it may result in ads that are less relevant to a person’s interests, Meta said in a blog post. That means people will see ads that they don’t find as interesting. This drop in relevance is inevitable given that drastically reduced data is being used to show these less personalized ads to people.
People who choose the new option will see ad breaks that can’t be skipped for a few seconds, Meta added.
EU regulators had accused Meta of breaching the 27-nation bloc’s digital rules when it gave user the option to pay a monthly fee to avoid being targeted by ads based on their personal data.
The U.S. tech giant had rolled out the option after the EU’s top court ruled Meta must first get consent before showing ads to users, in a decision that threatened its business model of tailoring ads based on individual users’ online interests and digital activity.The post <a href="https://www.scommerce.com/social-network/facebook-instagram-users-can-opt-for-less-personalized-ads/">Facebook, Instagram users can opt for less personalized ads</a> first appeared on <a href="https://www.scommerce.com">Scommerce - Social Commerce Platform, Social Media News</a>.]]></content:encoded>
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<title>Lean Technologies raises $67.5 million in Series B funding</title>
<link>https://www.scommerce.com/technology/lean-technologies-raises-67-5-million-in-series-b-funding/?utm_source=rss&utm_medium=rss&utm_campaign=lean-technologies-raises-67-5-million-in-series-b-funding</link>
<dc:creator><![CDATA[Alex Morrison]]></dc:creator>
<pubDate>Wed, 13 Nov 2024 12:08:09 +0000</pubDate>
<category><![CDATA[Technology]]></category>
<guid isPermaLink="false">https://www.scommerce.com/?p=48514</guid>
<description><![CDATA[Lean plans to use the proceeds to scale its Pay-by-Bank and Open Banking offerings, enhancing operational efficiencies for businesses across the Middle East Saudi Arabia-based fintech infrastructure platform Lean Technologies has raised $67.5 million in a Series B financing round. The fundraise, led by Silicon Valley-based venture capital group General Catalyst, brings Lean’s total funding […]
The post <a href="https://www.scommerce.com/technology/lean-technologies-raises-67-5-million-in-series-b-funding/">Lean Technologies raises $67.5 million in Series B funding</a> first appeared on <a href="https://www.scommerce.com">Scommerce - Social Commerce Platform, Social Media News</a>.]]></description>
<content:encoded><![CDATA[<img loading="lazy" decoding="async" width="1000" height="533" src="https://www.scommerce.com/wp-content/uploads/2022/03/funding.jpg?x82456" class="attachment-full size-full wp-post-image" alt="funding" style="float:right; margin:0 0 10px 10px;" />Lean plans to use the proceeds to scale its Pay-by-Bank and Open Banking offerings, enhancing operational efficiencies for businesses across the Middle East
Saudi Arabia-based fintech infrastructure platform Lean Technologies has raised $67.5 million in a Series B financing round.
The fundraise, led by Silicon Valley-based venture capital group General Catalyst, brings Lean’s total funding to more than $100 million.
Bain Capital Ventures, Stanley Druckenmiller’s Duquesne Family Office, and Arbor Ventures also contributed to the latest funding round.
Lean plans to use the proceeds to scale its Pay-by-Bank and Open Banking offerings, enhancing operational efficiencies for businesses across the Middle East.
With plans to deepen partnerships, grow its team, and expand product offerings, Lean aims to solidify its status as the region’s “leading fintech infrastructure provider”.
Lean chief executive officer and co-founder Hisham Al-Falih said: This funding marks a pivotal moment not only for Lean but for the entire fintech landscape in the Middle East.
Our goal has always been to create a financial ecosystem that prioritises accessibility and inclusion, empowering consumers and SMEs (Small and Medium Enterprises) to access the tools they need for growth, he said.
With this new investment, we are energised to expand our solutions and continue supporting businesses of all sizes in delivering secure, impactful financial services that meet the needs of a dynamic region, he said.
Lean offers businesses secure access to crucial financial infrastructure, allowing them to integrate personalised financial services into their platforms.
Regulated by ADGM in the UAE, Lean has simplified pay-ins and payouts for clients like e&, DAMAC, and Careem, processing over $2 billion in total volumes.
General Catalyst MD Neeraj Arora said: We are excited to partner with Lean, a pioneer in Open Banking in the MENA region. Over the past 5 years, Lean’s stellar team, led by Hisham, has demonstrated deep commitment towards solving unique local merchant needs, earning tremendous customer loyalty.The post <a href="https://www.scommerce.com/technology/lean-technologies-raises-67-5-million-in-series-b-funding/">Lean Technologies raises $67.5 million in Series B funding</a> first appeared on <a href="https://www.scommerce.com">Scommerce - Social Commerce Platform, Social Media News</a>.]]></content:encoded>
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<title>Grab Holdings raises revenue forecast</title>
<link>https://www.scommerce.com/technology/grab-holdings-raises-revenue-forecast/?utm_source=rss&utm_medium=rss&utm_campaign=grab-holdings-raises-revenue-forecast</link>
<dc:creator><![CDATA[Alex Morrison]]></dc:creator>
<pubDate>Tue, 12 Nov 2024 12:23:35 +0000</pubDate>
<category><![CDATA[Technology]]></category>
<guid isPermaLink="false">https://www.scommerce.com/?p=48512</guid>
<description><![CDATA[The company expects revenue in the range of $2.76 billion to $2.78 billion, compared with its earlier projection of between $2.70 billion and $2.75 billion Grab Holdings raised its forecast for fiscal 2024 revenue on Monday, as the Southeast Asian tech company expects robust growth in its food delivery and ride-hailing businesses during the busy […]
The post <a href="https://www.scommerce.com/technology/grab-holdings-raises-revenue-forecast/">Grab Holdings raises revenue forecast</a> first appeared on <a href="https://www.scommerce.com">Scommerce - Social Commerce Platform, Social Media News</a>.]]></description>
<content:encoded><![CDATA[<img loading="lazy" decoding="async" width="1000" height="675" src="https://www.scommerce.com/wp-content/uploads/2021/07/Global-GPS-technology.jpg?x82456" class="attachment-full size-full wp-post-image" alt="Global GPS technology" style="float:right; margin:0 0 10px 10px;" />The company expects revenue in the range of $2.76 billion to $2.78 billion, compared with its earlier projection of between $2.70 billion and $2.75 billion
Grab Holdings raised its forecast for fiscal 2024 revenue on Monday, as the Southeast Asian tech company expects robust growth in its food delivery and ride-hailing businesses during the busy holiday season.
U.S.-listed shares of the company climbed more than 10% in extended trading.
Grab’s mainstay food delivery business has been recovering from a post-pandemic dip in demand as consumers increase their discretionary spending budgets in a sign of economic easing.
We remain bullish on the long-term growth outlook of Southeast Asia, and are firing on all cylinders to capture the strong user demand trends, Grab chief executive officer Anthony Tan said.
The company expects revenue in the range of $2.76 billion to $2.78 billion, compared with its earlier projection of between $2.70 billion and $2.75 billion.
Grab has been attempting to introduce cheaper options for its ride-hailing services to woo price-wary customers. On the other hand, the company has been trying to promote its premium offerings as well to boost its earnings.
The margins for the more premium rides are 1.2 times higher than the standard rides offered by the company, chief financial officer Peter Oey told Reuters.
Grab reported third-quarter revenue of $716 million, exceeding Visible Alpha estimates of $700.8 million.
Oey said transactions made by customers were up 22% in the third quarter and subscribers of the company’s services spend four times that of non-subscribers.
The company also raised its annual core profit forecast to between $308 million and $313 million, from $250 million and $270 million.
Revenue in the deliveries segment rose 16% to $380 million, surpassing estimates of $374.2 million.
The company left its annual adjusted free cash flow forecast unchanged and beat estimates in its financial segment.The post <a href="https://www.scommerce.com/technology/grab-holdings-raises-revenue-forecast/">Grab Holdings raises revenue forecast</a> first appeared on <a href="https://www.scommerce.com">Scommerce - Social Commerce Platform, Social Media News</a>.]]></content:encoded>
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<title>NatWest users reported issues as app went down</title>
<link>https://www.scommerce.com/iphone-apps/natwest-users-reported-issues-as-app-went-down/?utm_source=rss&utm_medium=rss&utm_campaign=natwest-users-reported-issues-as-app-went-down</link>
<dc:creator><![CDATA[Alex Morrison]]></dc:creator>
<pubDate>Mon, 11 Nov 2024 12:37:15 +0000</pubDate>
<category><![CDATA[Apps]]></category>
<guid isPermaLink="false">https://www.scommerce.com/?p=48509</guid>
<description><![CDATA[The outage marks the second time this year that the mobile banking service went down The NatWest banking app stopped working for several hours on Sunday, as thousands of customers reported issues accessing the service. Mobile banking users had been unable to access their accounts, while the UK bank’s social media channels told them there […]
The post <a href="https://www.scommerce.com/iphone-apps/natwest-users-reported-issues-as-app-went-down/">NatWest users reported issues as app went down</a> first appeared on <a href="https://www.scommerce.com">Scommerce - Social Commerce Platform, Social Media News</a>.]]></description>
<content:encoded><![CDATA[<img loading="lazy" decoding="async" width="1000" height="667" src="https://www.scommerce.com/wp-content/uploads/2022/04/mobile-banking.jpg?x82456" class="attachment-full size-full wp-post-image" alt="mobile banking" style="float:right; margin:0 0 10px 10px;" />The outage marks the second time this year that the mobile banking service went down
The NatWest banking app stopped working for several hours on Sunday, as thousands of customers reported issues accessing the service.
Mobile banking users had been unable to access their accounts, while the UK bank’s social media channels told them there was “no timescale for a resolution”.
The service was down for nearly four hours, from 7.30 am to 11 am.
A NatWest spokesperson said: We are aware that some of our customers experienced difficulties accessing NatWest mobile banking this morning. The issue has been resolved and customers are now able to log in as normal. We apologise for any inconvenience caused.
Reports of log-in failures flooded the tech help site Down Detector from 8 am, rising to over 1,000 unhappy users.
The outage marks the second time this year that the mobile banking service went down. At the end of August, both Natwest and the Royal Bank of Scotland’s services crashed for a few hours.
Customers took to social media to complain, expressing outrage at being unable to manage their bank accounts.
The bank responded with a back-up solution to unhappy customers: If you need urgent access to your account you can try logging in to online banking on the website or calling the telephone team using the number on the back of your card.
A recent service update from the bank advised customers that “routine maintenance” was due to take place between 2 am and 6 am on Sunday, meaning the mobile app “may be unavailable for periods during these times”.The post <a href="https://www.scommerce.com/iphone-apps/natwest-users-reported-issues-as-app-went-down/">NatWest users reported issues as app went down</a> first appeared on <a href="https://www.scommerce.com">Scommerce - Social Commerce Platform, Social Media News</a>.]]></content:encoded>
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<title>Qualcomm gains on recovery in smartphone market</title>
<link>https://www.scommerce.com/technology/qualcomm-gains-on-recovery-in-smartphone-market/?utm_source=rss&utm_medium=rss&utm_campaign=qualcomm-gains-on-recovery-in-smartphone-market</link>
<dc:creator><![CDATA[Alex Morrison]]></dc:creator>
<pubDate>Fri, 08 Nov 2024 12:00:46 +0000</pubDate>
<category><![CDATA[Technology]]></category>
<guid isPermaLink="false">https://www.scommerce.com/?p=48507</guid>
<description><![CDATA[Demand has been particularly positive in major market China, from which Qualcomm gets almost half its revenue Qualcomm shares gained 4% on Thursday after the chip designer’s strong quarterly revenue forecast fanned investor optimism about a China-led recovery in the smartphone market. The company, the biggest supplier of smartphone chips, will add nearly $8 billion […]
The post <a href="https://www.scommerce.com/technology/qualcomm-gains-on-recovery-in-smartphone-market/">Qualcomm gains on recovery in smartphone market</a> first appeared on <a href="https://www.scommerce.com">Scommerce - Social Commerce Platform, Social Media News</a>.]]></description>
<content:encoded><![CDATA[<img loading="lazy" decoding="async" width="1280" height="853" src="https://www.scommerce.com/wp-content/uploads/2022/01/iphone.jpg?x82456" class="attachment-full size-full wp-post-image" alt="iphone" style="float:right; margin:0 0 10px 10px;" />Demand has been particularly positive in major market China, from which Qualcomm gets almost half its revenue
Qualcomm shares gained 4% on Thursday after the chip designer’s strong quarterly revenue forecast fanned investor optimism about a China-led recovery in the smartphone market.
The company, the biggest supplier of smartphone chips, will add nearly $8 billion to its market value, if the gains hold.
It forecast both first-quarter sales and adjusted profit above market estimates on Wednesday, indicating the smartphone market was picking up after a tough 2023 as consumers upgrade devices for AI apps like chatbots and image generators.
Demand has been particularly positive in major market China, from which Qualcomm gets almost half its revenue, thanks to new smartphone launches by brands like Xiaomi, Oppo and Vivo.
This was a nice sign that the consumer was willing to spend on high-end cell phones, according to Ryan Detrick, chief market strategist at Carson Group.
Improvement in the Chinese market played a big role. Can that continue is the big question for investors, he said.
Qualcomm is trying to diversify its revenue as it prepares for the end of a lucrative tie-up with Apple, which is working on its own modem chips to replace those made by Qualcomm.
While the deal to keep selling chips to Apple is until at least 2026, focus is on whether Qualcomm’s efforts to break into laptops and AI in data centers will ramp up quickly enough to offset declines in Apple revenue.
Qualcomm is starting to enjoy additional revenue from the other markets it is focusing on including automotive, internet of things, headsets and personal computers, according to Bob O’Donnell, chief analyst at TECHnalysis Research.The post <a href="https://www.scommerce.com/technology/qualcomm-gains-on-recovery-in-smartphone-market/">Qualcomm gains on recovery in smartphone market</a> first appeared on <a href="https://www.scommerce.com">Scommerce - Social Commerce Platform, Social Media News</a>.]]></content:encoded>
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<title>Canada orders shutdown of TikTok’s business</title>
<link>https://www.scommerce.com/iphone-apps/canada-orders-shutdown-of-tiktoks-business/?utm_source=rss&utm_medium=rss&utm_campaign=canada-orders-shutdown-of-tiktoks-business</link>
<dc:creator><![CDATA[Alex Morrison]]></dc:creator>
<pubDate>Thu, 07 Nov 2024 12:06:42 +0000</pubDate>
<category><![CDATA[Apps]]></category>
<guid isPermaLink="false">https://www.scommerce.com/?p=48505</guid>
<description><![CDATA[Canada last year began reviewing TikTok’s plan to invest and expand its business in the country Canada on Wednesday ordered Chinese-owned TikTok’s business in the country to be dissolved, citing national-security risks, but added the government was not blocking Canadians’ access to the short-video app or their ability to create content. The government is taking […]
The post <a href="https://www.scommerce.com/iphone-apps/canada-orders-shutdown-of-tiktoks-business/">Canada orders shutdown of TikTok’s business</a> first appeared on <a href="https://www.scommerce.com">Scommerce - Social Commerce Platform, Social Media News</a>.]]></description>
<content:encoded><![CDATA[<img loading="lazy" decoding="async" width="1000" height="664" src="https://www.scommerce.com/wp-content/uploads/2022/11/Tiktok.jpg?x82456" class="attachment-full size-full wp-post-image" alt="Tiktok" style="float:right; margin:0 0 10px 10px;" />Canada last year began reviewing TikTok’s plan to invest and expand its business in the country
Canada on Wednesday ordered Chinese-owned TikTok’s business in the country to be dissolved, citing national-security risks, but added the government was not blocking Canadians’ access to the short-video app or their ability to create content.
The government is taking action to address the specific national security risks related to ByteDance Ltd’s operations in Canada through the establishment of TikTok Technology Canada Inc, Innovation Minister Francois-Philippe Champagne said in a statement.
Canada last year began reviewing TikTok’s plan to invest and expand its business in the country. ByteDance is TikTok’s Chinese parent company.
Under Canadian law, the government can assess potential risks to national security from foreign investments, such as the TikTok proposal. The law prevents the government from revealing the details of such investments.
The decision was based on the information and evidence collected over the course of the review and on the advice of Canada’s security and intelligence community and other government partners, he said.
TikTok said it will challenge the order in court.
Shutting down TikTok’s Canadian offices and destroying hundreds of well-paying local jobs is not in anyone’s best interest, and today’s shutdown order will do just that, a TikTok spokesperson said in a statement.
Canada has banned the TikTok app from government-issued devices, saying it presents an unacceptable level of risk to privacy and security.
TikTok and ByteDance sued in U.S. federal court in May, seeking to block a law signed by President Joe Biden. The law, signed by Biden on April 24, gives ByteDance until January 19 to sell TikTok or face a ban.The post <a href="https://www.scommerce.com/iphone-apps/canada-orders-shutdown-of-tiktoks-business/">Canada orders shutdown of TikTok’s business</a> first appeared on <a href="https://www.scommerce.com">Scommerce - Social Commerce Platform, Social Media News</a>.]]></content:encoded>
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<title>Startup Physical Intelligence raises $400 million in funding</title>
<link>https://www.scommerce.com/startups/startup-physical-intelligence-raises-400-million-in-funding/?utm_source=rss&utm_medium=rss&utm_campaign=startup-physical-intelligence-raises-400-million-in-funding</link>
<dc:creator><![CDATA[Alex Morrison]]></dc:creator>
<pubDate>Wed, 06 Nov 2024 12:09:58 +0000</pubDate>
<category><![CDATA[Startups]]></category>
<guid isPermaLink="false">https://www.scommerce.com/?p=48502</guid>
<description><![CDATA[The firm seeks to develop universally compatible software for robots, aiming to circumvent the need for task-specific programming Physical Intelligence, a robotics AI startup, has raised $400 million in a funding round. The investment was spearheaded by Amazon’s Jeff Bezos and venture capital firms Thrive Capital and Lux Capital, according to The New York Times. […]
The post <a href="https://www.scommerce.com/startups/startup-physical-intelligence-raises-400-million-in-funding/">Startup Physical Intelligence raises $400 million in funding</a> first appeared on <a href="https://www.scommerce.com">Scommerce - Social Commerce Platform, Social Media News</a>.]]></description>
<content:encoded><![CDATA[<img loading="lazy" decoding="async" width="1000" height="563" src="https://www.scommerce.com/wp-content/uploads/2022/11/Blockchain-startup.jpg?x82456" class="attachment-full size-full wp-post-image" alt="Blockchain startup" style="float:right; margin:0 0 10px 10px;" />The firm seeks to develop universally compatible software for robots, aiming to circumvent the need for task-specific programming
Physical Intelligence, a robotics AI startup, has raised $400 million in a funding round.
The investment was spearheaded by Amazon’s Jeff Bezos and venture capital firms Thrive Capital and Lux Capital, according to The New York Times.
OpenAI, Redpoint Ventures, and Bond also contributed to the round.
The funding positions Physical Intelligence at a post-money valuation of $2.4 billion, according to CNBC.
This valuation marks a substantial increase from the firm’s March seed round, which valued it at $400 million after a $70 million investment.
Physical Intelligence was co-founded in 2023 by Karol Hausman, previously a robotics scientist at Google; Sergey Levine, a professor at the University of California, Berkeley; and Lachy Groom, a former executive at Stripe.
The firm seeks to develop universally compatible software for robots, aiming to circumvent the need for task-specific programming.
This project requires extensive real-world operational data, which is currently scarce.
Consequently, Physical Intelligence is compiling its own datasets, supported by advancements in AI models that can process visual information.
The startup’s website states its goal is to bring “general-purpose AI into the physical world”.
Recently, Physical Intelligence published a paper demonstrating the capabilities of its software, π0 (pi-zero), which enabled robots to perform various household tasks.
Over the last eight months, the firm has been developing a “general-purpose” AI model for robots.
In its blog, the firm said: We believe this is a first step toward our long-term goal of developing artificial physical intelligence, so that users can simply ask robots to perform any task they want, just like they can ask large language models (LLMs) and chatbot assistants.
The firm explained that its model, like LLMs, is trained on diverse data and follows text instructions.
However, it also spans images, text, and actions, gaining physical intelligence through robotic training to output motor commands.
It can control various robots and be either prompted for tasks or fine-tuned for specific applications.The post <a href="https://www.scommerce.com/startups/startup-physical-intelligence-raises-400-million-in-funding/">Startup Physical Intelligence raises $400 million in funding</a> first appeared on <a href="https://www.scommerce.com">Scommerce - Social Commerce Platform, Social Media News</a>.]]></content:encoded>
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