Alphabet Profit Rises 29% in Q2 Amid AI Spend
Alphabet Profit showed a 28.6% increase in the second quarter of 2024 despite having a $2.3 billion loss from its AI research division. The firm’s CEO, Sundar Pichai, said its AI products have already generated “billions” in revenue from its cloud business. Alphabet ‘s Q2 earnings filing indicates that the company generated $84.7 billion in […]
Citi Boosts Coinbase Shares Citing Shifting US Politics
According to Citi Group analysts, Coinbase shares are expected to be positively impacted by a prospective “crypto-friendly” administration. Citi , an investment bank, has raised its share price target for Coinbase, a cryptocurrency exchange. The bank attributes this increase to a “shifting” political landscape and a recent Supreme Court decision in the United States, which […]
Senator Cynthia Lummis Criticizes Joe Biden’s Mining Tax
Senator Cynthia Lummis criticized Biden Mining Tax, claiming that Bitcoin mining consumes as much energy as household appliances such as tumble dryers. Lummis issued a report on July 23 that opposed the Biden administration’s proposed 30% excise tax on the energy consumed by Bitcoin miners. The report, “Powering Down Progress: Why A Bitcoin Mining Tax […]
Spot Ethereum ETFs Records Over $1B In Trading Volume
According to Eric Balchunas, an analyst at Bloomberg ETFs, the trading volume of the $625 million Spot Ethereum ETFs, which excludes Grayscale’s ETHE, was “healthy.” The cumulative trading volume of spot Ether exchange-traded funds listed in the United States on their first day of trading was approximately $1.08 billion, approximately 23% of the volume observed […]
New Meta Llama AI Model: Is OpenAI’s Dominance at Risk?
Meta Platforms Inc. has unveiled the most recent edition of the Llama AI Model in preparation for its acquisition of OpenAI. Meta Platforms Inc.’s technology behemoth introduced the most recent iteration of its Llama AI model, Llama 3.1. This instrument has the potential to undermine OpenAI’s market dominance. Meta Investigates a Distinct Model with Llama […]