Lots has happened this past week in the tech world! With Google adopting new map applications powered by artificial intelligence, decreased profits for Samsung Electronics chips, and more, there’s much to catch up on. So, let’s get started!
Google Adopts AI to Map Applications
On Thursday, Alphabet’s Google unveiled various new features integrating Gemini, its AI chatbot, across its mapping applications.
Although Google was once seen as an early leader in AI, it has faced intense competition from Microsoft-backed OpenAI. In response, Google has aimed to regain its edge by embedding recent AI advancements into its widely used apps and devices.
Decreased Profits for Samsung Electronics Chips
On Thursday, Samsung Electronics reported third-quarter tech sales and operating profit that slightly surpassed its expectations, though its chip business saw a significant profit decline compared to the previous quarter.
The semiconductor division posted a third-quarter operating profit of 3.86 trillion won (around $2.8 billion), marking a 40% drop from the prior quarter.
Microsoft CFO Comments on Investments in OpenAI
Microsoft’s substantial investment in OpenAI is impacting its earnings. After releasing its quarterly earnings on Wednesday, CFO Amy Hood indicated that the company anticipates a $1.5 billion reduction in income this period, primarily due to an expected loss from OpenAI.
Microsoft has invested nearly $14 billion in OpenAI, whose viral ChatGPT tool has spurred a new industry around generative artificial intelligence, bringing billions in additional revenue to Microsoft.
Stocks Dipping for eBay in Third Quarter
eBay shares dropped about 9% in after-hours trading on Wednesday following the company’s fourth-quarter guidance, which missed Wall Street expectations. For the fourth quarter, eBay forecasted revenue between $2.53 billion and $2.59 billion, reflecting a possible year-over-year change of -1% to +1%. This range fell below the analyst consensus of $2.65 billion, as estimated by StreetAccount.
The company also projected adjusted earnings per share of $1.17 to $1.22 for the fourth quarter, with the upper end aligning with the consensus estimate of $1.22 per share.
Updates to Apple’s Macbook Pro Laptops
On Wednesday, Apple unveiled new MacBook Pro laptops featuring upgraded tech processors, marking what is likely its final major hardware announcement for the year.
The new models come equipped with Apple’s latest M4 chip, with some versions offering enhanced M4 Pro and M4 Max options. According to Apple, the new chips deliver 1.8 times the speed of the M1 chip, which powered the 2021 MacBook Pro.
Apple has also introduced a major update across its entire Mac lineup, gearing the computers toward future artificial intelligence tech capabilities.
