SK Hynix, the South Korean memory chipmaker, displayed a remarkable turnaround in the first quarter of this year, reporting a net profit of 1.92 trillion South Korean won ($1.39 billion). This positive outcome marks a stark contrast to the 2.58 trillion won loss incurred in the same period last year. The company faced a string
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The former CEO of cryptocurrency exchange Binance, Zhao, is facing potential consequences for enabling money laundering. U.S. prosecutors are pushing for a sentence of 36 months, which is significantly higher than the advisory guidelines. This harsh stance is rooted in the belief that Zhao’s crimes are grave and warrant a more severe punishment to uphold
Jack Dorsey, the founder of Block (formerly Square), has announced that the payments company is taking its bitcoin mining ambitions to the next level. Rather than just focusing on designing chips, Block is now working on developing a full bitcoin mining system. This move comes after the completion of the development of its own standalone
The recent price reductions in the electric vehicle market have had a significant impact on the shares of Tesla and Li Auto. Tesla shares dropped by 3% in premarket trading, while Li Auto experienced a significant decline to an 11-month low. This indicates the market’s reaction to the price cuts by these companies in an
The recent completion of the fourth “halving” event in the Bitcoin network brings with it a reduction in miner rewards from 6.25 bitcoins to 3.125. This event has caused fluctuations in the price of bitcoin, with prices falling by approximately 4% in the week leading up to the halving. Investors are closely watching the aftermath
Taiwan has emerged as a key player in the global semiconductor industry, particularly in the realm of AI chip production. The Taiwan Stock Exchange has witnessed significant gains in the past year, largely due to the surge in demand for high-end chips and the server supply chain. Companies like Taiwan Semiconductor Manufacturing Co (TSMC) have
In a recent internal email sent by Tesla CEO Elon Musk, it was revealed that the company had sent out severance packages that were inaccurately low to a number of laid-off employees. This mistake was acknowledged by Musk himself, who apologized for the error and assured that it was being corrected immediately. This raises concerns
In a surprising turn of events, Tesla has announced the layoff of 285 employees in the state of New York. Most of these employees were based at the company’s Buffalo factory, with a few working at a store and service center in the area. This move is part of a broader restructuring effort by the
Andreessen Horowitz recently announced that it successfully raised a staggering $7.2 billion across five different funds, painting a picture of optimism in the tech startup industry. This significant milestone comes at a time when the sector has experienced a drought in substantial exits over the past couple of years. The bulk of the newly raised
The recent conflict between healthcare data management companies Epic Systems and Particle Health has brought to light issues related to patient data sharing and access. Despite the ongoing dispute, a vast majority of Particle Health’s customers are still able to access patient records from Epic Systems, which supports over 300 million patient records. Both Epic