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Coupang Stock Slides Despite Beating Earnings Estimates

Despite reporting third-quarter earnings and sales that exceeded analysts' expectations, Coupang stock slid in after-hours trading on Tuesday, reports Investor's Business Daily. The South Korean e-commerce company reported earnings of 4 cents per share on sales of $7.9 billion for the September-ended quarter. Analysts polled by

Oracle's $115 Million Privacy Settlement Faces Opposition

Oracle and the plaintiffs' lawyers who negotiated a $115 million privacy settlement with the tech giant are facing opposition as a US judge in California prepares to consider final approval of the proposed deal, reports Reuters. More than 25 objections have been filed against the settlement, which was announced

Keppel Acquires AI-Ready Data Center in Tokyo from Mitsui Fudosan

Singapore-based Keppel Corporation has agreed to purchase an artificial intelligence (AI)-ready data center facility being developed by Mitsui Fudosan, Japan's largest property group, in Tokyo, reports Reuters. This deal comes less than two weeks after Keppel announced plans to more than double its data center funds under

Shopify Takes Aim at Salesforce, Bragging About Customer Gains

Shopify, the online shopping specialist, is making bold claims about its success in attracting large-scale businesses, including those previously loyal to Salesforce, reports CX Today. The company is touting "the mass migration" of customers from Salesforce to Shopify, citing lower prices as a key driver. Shopify Chief Operating

Mozilla Foundation Cuts 30% of Staff

The Mozilla Foundation, the nonprofit arm behind the Firefox browser, has laid off 30% of its employees, confirming a "relentless onslaught of change" facing the organization, reports TechCrunch. The layoffs, affecting roughly 120 employees, come as Mozilla Foundation undergoes a "reorganization" to "increase agility and

Perplexity Hits $9B Valuation with New Funding

Perplexity, the search startup powered by artificial intelligence, is raising a new round of investment that would value the company at $9 billion, reports Reuters. The funding round, led by venture capital firm Institutional Venture Partners (IVP), is set to bring in $500 million, signaling continued investor enthusiasm for AI

Netflix Offices Raided in Tax Fraud Investigation

French and Dutch authorities raided the offices of streaming giant Netflix in both countries on Tuesday, as part of a preliminary investigation into tax fraud and money laundering, reports Reuters. The investigation, opened by France’s Parquet National Financier (PNF) in November 2022, focuses on potential tax irregularities within the
Netflix Offices Raided in Tax Fraud Investigation

Robot AI Startup Physical Intelligence Raises $400 Million From Bezos, OpenAI

Physical Intelligence, a startup developing foundational software for robots, has secured $400 million in early-stage funding, according to a report by Reuters. This investment round, which values the company at $2 billion, was led by Amazon's Jeff Bezos, OpenAI, Thrive Capital, and Lux Capital. Physical Intelligence is focused

Strong AWS Growth Powers Amazon Results

Amazon, the latest of the "magnificent seven" tech giants to report quarterly earnings, has exceeded Wall Street expectations, driven by strong growth in its cloud computing business, reports The Guardian. Shares in the e-commerce giant rose in after-hours trading following the announcement of revenue of $158.9 billion,

EU Agrees to Hike VAT on Airbnb, Uber After Estonia Drops Veto

The European Union has reached an agreement to reform VAT rules that will impose tax hikes on online platforms offering short-term rentals and ridesharing services, such as Airbnb and Uber, reports Euronews. This comes after Estonia, home to ride-sharing app Bolt, dropped its opposition to the proposal. Estonia had previously