Code & Brew
Figma debuted on the NYSE under the ticker symbol FIG, pricing its shares at $33—slightly above its revised $30–32 guide range. The offering raised about $1.2 billion in total, though only approximately $400–411 million went to the company itself—the remainder came from existing shareholders divesting their stakes. Figma’s valuation at IPO stood at $19.3 billion, nearly matching the…
Microsoft Achieves Historic Market Milestone According to the Financial Times, “Microsoft hits $4tn market value as tech stocks rise to new highs,” marking a significant achievement in the company’s history. This surge reflects investor confidence in Microsoft’s strategic investments in artificial intelligence and cloud computing, positioning the company at the forefront of technological innovation. Debate…
In a significant development within the Indian IT sector, Clorox has filed a $380 million lawsuit against Cognizant, alleging gross negligence during a 2023 cyberattack. According to the Financial Times article “Clorox sues Cognizant as troubles mount in India’s tech sector,” Clorox claims that Cognizant’s staff handed over credentials to hackers without proper verification. Cognizant…
In this stimulating CNBC segment, Doug Clinton, CEO of Intelligent Alpha, offers his expert insights on the upcoming earnings reports from major tech companies. As these industry giants prepare to unveil their latest financial results, Clinton underscores the importance of understanding the broader economic implications that accompany these announcements. He highlights specific areas to watch,…
Tech, AI, and Finance Hardware Bloomberg highlights Apple is reportedly developing its own home robotics products, including a mobile robot to follow users and a smart display, signaling new directions post-Vision Pro. Reuters notes Samsung unveiled a new high-end memory chip, aimed at advancing AI servers and meeting growing enterprise demand. Software The Verge shares…
AI & GenAI CNBC reports OpenAI is piloting a tool to detect AI-generated images, aiming to address misinformation and authenticity concerns amid election cycles. Reuters notes Meta’s release of its Llama 3 AI model code under a more permissive license, fueling open-source innovation. Wired outlines Anthropic launching Claude Team, a suite for enterprise AI safety,…