The most important news from last week
Nvidia is working with Microsoft on cloud AI computer
Nvidia, a chip designer and computing corporation based in the United States, announced that it is collaborating with Microsoft to construct a massive machine to perform intensive artificial intelligence computing tasks in the cloud. The AI machine will run on Microsoft's Azure cloud, with tens of thousands of GPUs, including Nvidia's most capable H100 and A100 processors. Industry insiders claimed each A100 chip costs between 10,000 USD and 12,000 USD.
Movement of Nvidia stocks in the last five years. (Source: Trading Economics)*
Airbnb reported a jump in single-room listings
Airbnb reported a disproportionate 31% increase in single-room listings on its site, as more consumers sought extra money in the face of a cost-of-living crisis. The firm stated that property listings increased throughout areas without providing precise figures, and to help with the expansion, it released an app update to make the process smoother. Approximately 46% of Airbnb hosts said they utilized the additional money from renting out their apartments to pay for food and other necessities.
Google made a 360 million USD deal with Activision
Alphabet Inc's Google has signed at least 24 arrangements with major app developers to prevent them from competing with its Play Store, including an agreement to pay Activision Blizzard roughly 360 million USD over three years. Google also committed to pay Tencent Holdings Riot Games business, which produces League of Legends, 30 million USD over a year in 2020. The financial figures were revealed in a freshly unredacted record of a lawsuit Epic Games initially filed against Google in 2020.
Deutsche Bank CEO warned about European banks
Deutsche Bank CEO Christian Sewing warned on Friday of the danger of European reliance on foreign banks, comparing the threat to the region's reliance on foreigners for energy, which has precipitated the continent's crisis. Deutsche Bank has long cautioned that Europe needed strong banks to compete with competition from the United States and China, but Friday's address took on a heightened sense of urgency. Sewing slammed European regulators for a harsh hand.
Twitter is in chaos
After Elon Musk, the new CEO and owner of Twitter, told his workers to work hardcore or risk being fired, hundreds of employees, including several crucial engineers, allegedly departed. Many of them used Twitter to announce their departure from the organization. Twitter's security was booting out employees who had resigned on Thursday evening. Several Twitter postings highlighted a mass exodus that is going on at the place.
Sources: CNBC, Reuters, Investing, Trading Economics
* Past performance is no guarantee of future results.
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