Tech stocks surged this week as US and Canadian jobs data bolstered interest rate cut expectations.
In crypto news, investors maintained a bullish outlook despite a slight pullback.
Find out what other key pieces of news mead headlines in the tech space this week.
Bitcoin fell below the US$100,000 mark at the start of the week after last’s week’s record-setting price move. Altcoins and meme tokens also took a hit, hinting at a potential shift in market dynamics.
Bitcoin held around US$101,500 on Friday, while Ether was above US$3,900.
Musk expressed his discontent on X, formerly Twitter, on Thursday regarding a settlement demand issued by the SEC. The demand requires Musk to accept terms, including a fine, or face charges on multiple counts.
In a letter sent to the SEC and posted to X, Musk’s lawyer Alex Spiro accuses the SEC of engaging in “an improperly motivated campaign against Mr. Musk and the individuals and companies associated with him.”
The fund’s attorneys argued that Musk influenced other shareholders’ decisions and put them at a disadvantage by failing to clearly disclose pertinent information regarding his stake in the company.
The company also reported GAAP net income of US$4,324 million for the fourth quarter, non-GAAP net income of US$6,965 million and adjusted EBITDA of US$9.01 million for Q4.
This addresses a major challenge in quantum computing, where qubits are highly susceptible to environmental interference. Willow also excels in random circuit sampling, a benchmark test that involves running a quantum computer with a series of random operations and then measuring the output. According to Google, Willow can complete a calculation in under 5 minutes that would have taken the fastest supercomputer 10 septillion years.
Google DeepMind CEO Demis Hassabis and CTO Koray Kavukcuoglu said in a joint statement that AI agents powered by Gemini 2.0 will be able to understand complex instructions, plan, reason and even assist with video game strategy.
A full release is slated for next year, but in the meantime, Gemini Advanced users will be able to try out the chat-optimized version of Gemini 2.0 within the Gemini app.
The investigation is reportedly focused on the terms of NVIDIA’s 2020 acquisition of Mellanox Technologies, an Israeli-American company that specialized in high-performance interconnect solutions prior to the purchase.
Shares of NVIDIA are down 3.27 percent for the week, dwarfed by the gains of its competitor Broadcom.
Securities Disclosure: I, Meagen Seatter, hold no direct investment interest in any company mentioned in this article.
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