NewYork (Business Emerge), July 25: CrowdStrike revealed on Wednesday that a software bug in their quality-control system led to a flawed update, causing widespread computer crashes globally. The update disrupted various services, including those in aviation and banking, leading to mounting losses for the company. The incident has raised significant concerns among cybersecurity experts about the robustness of organizational contingency plans for IT failures. Many organizations are reportedly not well-prepared to handle such disruptions effectively. Financial Repercussions and Investigations The financial toll of the incident is becoming clearer. Insurer Parametrix estimated that U.S. Fortune 500 companies, excluding Microsoft, could face…
Author: Kevin Miller
Business Emerge, July 25: ServiceNow has revised its annual subscription revenue forecast, driven by increased enterprise adoption of AI-powered cloud-based software. The company’s shares surged by over 7% in extended trading and have shown a 3.5% increase this year, although they still trail behind the S&P 500 index. In light of growing interest in workflow automation and advancements in generative AI, ServiceNow has demonstrated significant growth. Analysts predict that the rising U.S. federal business and the broader acceptance of AI software will help the company mitigate the challenges posed by the uncertain economic environment. During an internal investigation, ServiceNow’s board…
Chicago (Business Emerge), July 25: IBM has surpassed analysts’ revenue projections for the second quarter and revised its annual growth forecast upward for its software segment, driven by increased client investments in AI technology. The tech giant has expanded its Watsonx platform, which enables users to implement chatbots and enhance code for AI applications. Additionally, IBM has made its Granite AI models open-source to further promote its AI services. IBM’s shares saw a rise of approximately 3% in after-hours trading, contributing to their year-to-date increase of around 12%, reflecting the broader trend of rising AI-linked stocks. The software division saw…
Renault CEO Luca De Meo has raised concerns regarding the current timeline for Europe’s shift to electric vehicles, emphasizing the need to reduce costs to achieve the company’s EV targets. In a recent interview with business daily Les Echos, De Meo stressed the importance of adjusting the schedule to accommodate market realities. The Critical Role of EV Transition The transition to electric vehicles is pivotal in combating global carbon emissions. The speed at which this transition occurs will significantly impact both the automotive industry and the environment. Despite the essential nature of this shift, recent EU elections have highlighted a…
NewYork (Business Emerge), July 25: Alphabet Inc. experienced a notable decline of over 3% on Wednesday, primarily driven by apprehensions regarding its growing expenditures on artificial intelligence (AI) infrastructure and increased competition for advertising revenue on YouTube. The tech giant’s capital expenditures surged to $13.2 billion in the second quarter, surpassing forecasts. This substantial investment is aimed at bolstering the infrastructure required to support generative AI technologies and maintain competitiveness against rivals such as Microsoft. Despite Alphabet’s efforts to curb expenses through workforce reductions, analysts predict that heightened seasonal hiring of recent graduates and the early launch of its Pixel…
22 July (Business Emerge): In an ambitious move to expedite the development of next-generation electric vehicle (EV) architecture, Xpeng and Volkswagen AG have announced the establishment of dedicated project houses. These new facilities, situated in Guangzhou and Hefei, China, will serve as collaborative spaces for engineers from both companies to work in tandem. This strategic partnership aims to facilitate the production of a new, jointly-developed EV architecture—an intricate configuration of electronic components, modules, and networks within a vehicle—by 2026. “From 2026, all electric vehicles of the Volkswagen brand in China will be equipped with this very powerful and efficient architecture,”…
AMSTERDAM (Business Emerge): The Dutch Council of State has ruled in favor of semiconductor manufacturing leader ASML, allowing the company to proceed with its planned expansion at its Veldhoven headquarters. The court’s decision comes despite objections raised by two neighboring parties regarding potential traffic and noise disruptions. The highest administrative court in the Netherlands determined that these concerns were not substantial enough to halt or modify the expansion project, which had received approval from the Veldhoven town council in 2022. The court also dismissed suggestions that constructing parts of the facility underground would be feasible. Given the sensitivity of the…