After years of speculation that it will eventually get into the auto business with its own vehicle, Apple is close to finalizing a deal with Hyundai-Kia to manufacture an Apple-branded autonomous electric vehicle at the Kia assembly plant in West Point, Georgia according to multiple sources who briefed CNBC on the plan. The so-called “Apple
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Andy Jassy, Amazon AWS Source: CNBC Andy Jassy has spent the past 15 years converting Amazon from an e-commerce giant into a highly profitable technology company, creating and then dominating the cloud infrastructure market. Now, he’s about to take center stage as CEO of the third-most valuable U.S. company after Apple and Microsoft. Amazon said
Amazon announced on Tuesday that AWS CEO Andy Jassy will replace Jeff Bezos as CEO during the third quarter of this year. Bezos will transition to executive chair of Amazon’s board. Bezos founded Amazon in 1994 and since then has morphed it from an online bookstore into a mega online retailer that sells and delivers
Ali Ghodsi, co-founder and CEO of Databricks, speaks at the company’s Spark and AI Summit in San Francisco in April 2019. Databricks UiPath and Databricks became two of the most valuable privately held tech companies in the U.S. on Monday, with massive new funding rounds that give them a combined valuation of more than $60
Andy Jassy, chief executive officer of web services at Amazon.com Inc., listens during the Amazon Web Services Summit in San Francisco on April 19, 2017. David Paul Morris | Bloomberg | Getty Images Databricks, a start-up whose software helps companies quickly process large sets of data and get it ready for analysis, said Monday it
Elon Musk, founder of SpaceX and chief executive officer of Tesla Inc., arrives at the Axel Springer Award ceremony in Berlin, Germany, on Tuesday, Dec. 1, 2020. Liesa Johannssen-Koppitz | Bloomberg | Getty Images Elon Musk came out as a believer in bitcoin on Friday — and now he’s doubling down. The billionaire Tesla boss
People tend to vegetables growing in a field as emission rises from cooling towers at a coal-fired power station in Tongling, Anhui province, China, on Wednesday, Jan. 16, 2019. Bloomberg Elon Musk is going to pay $100 million towards a prize to come up with the best carbon capture technology. (Or so he tweets. Details
The website of U.K. stock trading app Freetrade. Freetrade LONDON — British share trading app Freetrade told clients Friday that it had disabled purchases of U.S. stocks. Freetrade blamed the halt to U.S. stock purchases on a move by its currency exchange provider and their bank to limit the platform’s trading volume. Freetrade uses U.K.
A pedestrian wearing a protective mask crosses California Street in San Francisco, California, U.S., on Tuesday, Dec. 29, 2020. David Paul Morris | Bloomberg | Getty Images In late October, when San Francisco moved into California’s least-restrictive Covid-19 “yellow tier” — indicating minimal spread of the coronavirus — Lauren Crabbe was hopeful. Crabbe, the owner
US electric car maker Tesla Vice President Jerome Guillen poses at the Paris Auto Show on the last press day on October 3, 2014. The Paris Auto show opens to the public on Saturday. Eric Piermont | AFP | Getty Images Elon Musk’s electric car company notified customers on Friday that Tesla Service Centers now
Steve Huffman CEO, Reddit, delivers remarks on ‘Redesigning Reddit’ during the third day of Web Summit in Altice Arena on November 08, 2017 in Lisbon, Portugal. Horacio Villalobos | Corbis | Getty Images Reddit is having a moment. The online network of communities has been thrust into the spotlight this week after a group of
Tim Cook, chief executive officer of Apple, speaks at the 2019 Dreamforce conference in San Francisco on November 19, 2019. David Paul Morris | Bloomberg | Getty Images Apple CEO Tim Cook on Thursday linked Facebook‘s business model using data to serve targeted ads with real-world consequences, such as violence or reducing public trust in
A Falcon 9 rocket launches the Transporter-1 mission in January 2021. SpaceX The U.S. Department of Justice is investigating Elon Musk’s SpaceX over whether the company discriminates against non-U.S. citizens in its hiring practices, according to court documents filed on Thursday. The DOJ’s division of Immigrant and Employee Rights received a complaint of employment discrimination
Apple reported blowout earnings on Wednesday. Even during a global pandemic, every single product line was up, leading to the company’s first quarter with over $100 billion in sales. But Apple is still best known for the iPhone, which accounted for nearly 59% of the company’s revenue during the holiday quarter. The iPhone is booming,
Apple CEO Tim Cook reveals the new iPhone 12. Source Apple delivered its largest quarter by revenue of all time on Wednesday at $111.4 billion in its first-quarter earnings report for fiscal 2021. It’s the first time Apple crossed the symbolic $100 billion mark in a single quarter, and sales were up 21% year-over-year. Apple stock declined less than a percent in
Tesla Motors CEO Elon Musk unveils a new all-wheel-drive version of the Model S car in Hawthorne, California October 9, 2014. Lucy Nicholson | Reuters Tesla CEO Elon Musk seemed to rally behind GameStop‘s epic surge, tweeting out a link to the Reddit board that’s largely hyped the stock. Shares of GameStop were up more
Satya Nadella, chief executive officer of Microsoft Corp., speaks during the Viva Technology conference in Paris, France, on Thursday, May 24, 2018. Viva Tech, a three-year-old event for startups, gathers global technology leaders and entrepreneurs as the French establishment unites behind a push for more tech investment in Paris. Marlene Awaad | Bloomberg | Getty
WeChat mascots are displayed inside Tencent office at TIT Creativity Industry Zone in Guangzhou, China, May 9, 2017. Bobby Yip | Reuters GUANGZHOU, China — Tencent shares dropped more than 5% on Tuesday — one day after a huge rally pushed its valuation to nearly $1 trillion for the first time. The Chinese internet giant
Steve Proehl | Corbis Unreleased | Getty Images Apple promoted its hardware chief, Dan Riccio, to a new role “focusing on a new project.” He will report to CEO Tim Cook, Apple announced on Monday. Riccio was previously the company’s senior vice president for hardware engineering, signing off on the physical aspects and electrical engineering
Evergrande Group Chairman Xu Jiayin attends Evergrande New Energy Auto Global Strategic Partners Summit on November 12, 2019 in Guangzhou, Guangdong Province of China. VCG | Visual China Group | Getty Images GUANGZHOU, China — Shares of the electric vehicle unit of Chinese property giant Evergrande surged as much as 67% on Monday after the