Tag Archives: billion

(Bloomberg) — Betting against tech has become a winning trade, with short sellers sitting on billions in paper profits as growth stocks slump. Most Read from Bloomberg A historic rout in the so-called FAANG cohort — Facebook owner Meta Platforms Inc., Apple Inc., Amazon.com Inc., Netflix Inc. and Google parent Alphabet Inc. — has delivered $19.8 billion in mark-to-market profits for investors speculating on declines as of June 30, according to data-analytics firm S3 Partners. “It was… Source link

Transformers are used for translation and text summarising tasks because they can analyze sequential input data, such as natural language. Transformers use the self-attention process and weights the importance of each component of the input data differently. Large-scale transformer-based language models have gained a lot of popularity recently in the disciplines of computer vision and natural language processing (NLP). They expand in size and complexity frequently, yet it… Source link

(Bloomberg) — Stock dip-buyers across the ETF world have vanished after seeing their account balances ravaged too many times in the 2022 meltdown. Most Read from Bloomberg Three times, to be specific. That’s the number of 5% bounces that have failed to endure in the S&P 500 this year — luring billions of dollars to exchange-traded funds in every rebound. Not this time. As the S&P 500 jumped more than 6% through Friday from its 2022 trough, roughly $10 billion was pulled out of equity funds,… Source link

The world’s third-largest maker of semiconductor wafers, Taiwan’s GlobalWafers, announced plans to build a $5 billion factory in the U.S. on Monday—but only if the government helps pay for it. “This investment that they’re making is contingent upon Congress passing the CHIPS Act. The [GlobalWafers] CEO told me that herself, and they reiterated that today,” U.S. Commerce Secretary Gina Raimondo told CNBC, the same day GlobalWafers announced its development plan. Congress actually Source link

What will happen with Warren Buffett’s billions when he dies? Some of it might go to every kid on the planet. So reports the Wall Street Journal in a recent investigation of the future of Buffett’s fortune, which is worth $96.8 billion at the time of this article’s publication. In 2006, the Berkshire Hathaway CEO pledged to give away 85% of his stock in the company to charity, designating the majority of it to the Bill & Melinda Gates Foundation. Four years later, he vowed to… Source link

(Bloomberg) — Prosus NV is planning to sell more of its $134 billion stake in Chinese internet giant Tencent Holdings Ltd. to finance a buyback program, reversing a pledge to hold onto the full shareholding. Most Read from Bloomberg Tencent declined in Hong Kong on Monday as investors pondered the extent to which Prosus, the Chinese company’s biggest shareholder, will unload its stock. The shares fell as much as 2.5% and traded 1.6% lower at the close. “We will keep selling Tencent shares… Source link

(Bloomberg) — SoftBank Group Corp. founder Masayoshi Son is used to praise and encouragement from shareholders. But the company’s loss of $34 billion in market value over the last year is a test for even his most faithful admirers when they gather for the annual shareholders’ meeting on Friday. Most Read from Bloomberg Investors stuck by Son when SoftBank announced a holding company strategy in 2015 to hive out its staid but profitable domestic telecom business to become the world’s… Source link

China has urged the International Monetary Fund to approve a US$1.4 billion bailout for Zambia but the fund responded by telling Beijing and other official creditors they must first agree a relief package. Lusaka is seeking a bailout from the IMF and is also in the process of restructuring about US$17.3 billion of external debts, including from its largest bilateral lender – China. In November 2020, it became the first African country to default on some of its dollar-denominated bonds during… Source link

Cryptocurrency sell-offs continued through Tuesday morning, with drawdowns waning after the sector’s “Black Monday” saw over $1 billion in crypto derivatives liquidated over a 24 hour period according to data from Coinglass. Overall, the total crypto market cap has lost more than two-thirds of its value since peaking in November, according to Coinmarketcap, falling from $3 trillion at its apex to $952 billion as of Tuesday 11 am New York time. After briefly dipping to $20,950 per unit… Source link

Google’s 3.2 billion Chrome users now have a reason to switch to Firefox, because the … [+] privacy-focused browser has just confirmed some big news. NurPhoto via Getty Images Google’s 3 billion Chrome users now have a reason to switch to Firefox, because the privacy-focused browser has just confirmed some big news. The announcement concerns ad blockers, and the Google Chrome changes dubbed Manifest V3, which may cause some ad blockers to break. It’s been… Source link