Lots has happened this past week in the tech world! With DocuSign shares increasing 14%, Waymo extending its robotaxi service to new areas, and more, there’s much to catch up on. So, let’s get started!
DocuSign Shares Increase 14%
DocuSign shares rose over 14% after reporting stronger-than-expected earnings Thursday evening. The earnings beat was partly driven by the introduction of DocuSign IAM, a new AI-powered platform designed to streamline agreement-related processes.
“We’ve really stabilized, and I think we’ve started to turn the corner on the core business,” CEO Allan Thygesen said Friday on CNBC’s Squawk Box. “We’ve become much more efficient.”
Waymo Extends Robotaxi Service to New Areas
On Tuesday, Waymo announced an expansion of its tech service, adding 27 more square miles of coverage around the San Francisco Bay Area.
With this expansion, Waymo will now offer rides in Mountain View, Los Altos, Palo Alto, and parts of Sunnyvale, California. The Alphabet-owned company launched its robotaxi service to the public in San Francisco back in June.
Salesforce Commits $1 Billion Investment in Singapore
On Wednesday, Salesforce announced plans to invest $1 billion in Singapore over the next five years. The cloud software leader stated that the investment aims to speed up the country’s digital transformation and the widespread adoption of its flagship AI solution, Agentforce.
Salesforce joins a growing list of tech companies looking to drive revenue growth with generative AI features.
Swedish EV Battery Company Northvolt Files for Bankruptcy
Northvolt, the troubled Swedish electric vehicle battery manufacturer, announced on Wednesday that it has filed for bankruptcy in Sweden.
The company explained that the insolvency filing followed an “exhaustive effort” to explore all options for securing a viable financial and operational future.
“Like many companies in the battery sector, Northvolt has faced a series of compounding challenges in recent months that have weakened its financial position,” the company said. These challenges include rising capital costs, geopolitical instability, supply chain disruptions, and shifts in market demand.
Tesla Shares Drop 15%
The sell-off on Wall Street deepened on Monday, with Tesla’s stock dropping 15%, marking its worst market day since September 2020.
The decline follows a tough stretch for Tesla, having just completed its seventh consecutive week of losses, the longest losing streak since the company went public in 2010. The stock has fallen every week since tech CEO Elon Musk took on a major role in the second Trump White House.
