Alphabet profit falls 34% due to ads slow down
Alphabet, the parent of Google, is facing a period of stalled growth amidst the ongoing economic turbulence in Silicon Valley. Gone are the days of exponential profit and employee growth as the company navigates a slowdown in digital advertising.
In its latest financial statement, Alphabet poste... Read more
San Francisco wants to put the brakes on rollout of robotaxis
The move comes after driverless taxis have caused mayhem on the city's streets.
San Francisco city officials have sent letters to the California Public Utilities Commission (CPUC) asking to slow or halt the expansion of robotaxi services in the city. NBC News reports that San Francisco Transport... Read more
SAP plans to slash 3000 jobs as it looks to sell Qualtrics
The software giant is the latest big tech player to announce major job cuts in 2023.
German software vendor SAP announced it plans to cut 3,000 jobs, or 2.5 percent of its global workforce, according to reporting by Reuters. The company also told reporters that it plans to explore the sale of it... Read more
‘Google’s parent company lays off 12,000 employees’
A leaked memo suggests Alphabet will cut 12,000 jobs.
The news follows shortly after the announcement of a layoff round at Microsoft. 10,000 employees will be fired in the coming months. The tech giant intends to cut costs.
According to Reuters, Alphabet is taking similar measures. In a... Read more
Activist investor calls on Alphabet to reduce headcount and costs
Activist investor TCI Fund Management has called on Alphabet to cut costs by lowering its headcount and reducing expenses in several areas.
"We are writing to express our view that the cost base of Alphabet is too high and that management needs to take aggressive action", the organization wrote... Read more
SandboxAQ acquires Cryptosense to enhance post-quantum cryptography
SanboxAQ is acquiring Cryptosense to enhance the cybersecurity and encryption capabilities of its post-quantum cryptography solution.
SandboxAQ is a quantum computing developer that was founded at Alphabet and became an independent company last March. Only six months into its operations, Sandbox... Read more
Alphabet transfers flopped balloon internet to Aalyria
A new startup is building on the technology that Google used to launch internet balloons to the edge of space.
Alphabet subsidiary Google has an innovative past. The tech giant tried to filter drinking water from air, dreamed of generating energy with kites and designed an elevator to space.
... Read more
Alphabet life science subsidiary Verily raises $1 billion to expand
Verily, a life science subsidiary of Alphabet, raised $1 billion in a recent funding round to support the business’s expansion.
The research group was founded in 2015 to improve precision health. Its primary objective is to use data from a wide range of clinical, social, and behavioural source... Read more
Google allegedly pays billions to maintain its dominant position
The US Department of Justice told a federal judge that Alphabet’s Google annually pays billions of dollars to Apple, Samsung and others to unlawfully preserve its position as the number one search engine.
Department of Justice (DOJ) attorney Kenneth Dintzer did not reveal exactly how much Goo... Read more
Google Cloud’s losses increase, but bosses aren’t worried
Although Google Cloud turned a loss of close to $1 billion in the most recent quarter, parent company Alphabet seems unconcerned.
Alphabet recently revealed its second quarterly report of 2022. Revenue totalled $69.7 billion. $40 billion came from Google Search and associated operations, $7.4 b... Read more