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Tag: Amazon

Amazon to acquire Indian streaming service MX Player
News

Amazon to acquire Indian streaming service MX Player

Amazon has reached an agreement to acquire the Indian video streaming service MX Player from Times Internet, marking another strategic move by the e-commerce giant to bolster its presence in smaller cities and towns across India. The definitive agreement, finalized on Wednesday evening, values MX Player at less than $100 million, according to a source […]

Amazon to acquire Indian streaming service MX Player
News

Amazon plans AI overhaul, Alexa subscription

Amazon is undertaking an artificial intelligence-driven overhaul of its Alexa voice assistant and intends to implement a monthly subscription fee to cover technology expenses, CNBC reported on Wednesday. The online retail giant aims to launch a more conversational iteration of the voice assistant later this year, positioning itself to better compete with AI-powered chatbots from […]

Chinese tech giants slash prices of AI language models
News

Chinese tech giants slash prices of AI language models

Chinese tech giants Alibaba and Baidu engaged in a price war on Tuesday, slashing prices on large-language models used in generative artificial intelligence products, intensifying competition in China’s cloud computing sector. Alibaba’s cloud division announced significant price reductions of up to 97% on its Tongyi Qwen LLMs. For example, its Qwen-Long model, previously priced at […]

Tech

Amazon Web Services fire several ‘hundreds’ tech, sales staff

Amazon Web Services has eliminated several hundred sales, marketing, and tech roles, it said on Wednesday, the latest in a series of job cuts by its parent Amazon.com The affected staff are a few hundred at Amazon Web Services’ Sales, Marketing, and Global Services division as well as its Physical Storage Technology Group, according to […]

Bezos expresses confidence in Musk, optimism for US space agenda
Tech

Jeff Bezos, others invest $675m in humanoid robot development

Tech billionaires such as Jeff Bezos are exploring the realm of humanoid robots in an effort to find new uses for artificial intelligence. According to The Times, a firm in this space like Figure AI Inc, is raising a healthy $675 million and is valued at almost $2 billion. Backed by major players including Microsoft Corp., Bezos’ […]

Jeff Bezos sells 50 million Amazon shares
Business

Jeff Bezos sells 50 million Amazon shares

Amazon founder and billionaire Jeff Bezos, has stated that he plans to sell up to 50 million shares of the company, which is worth approximately $8.6 billion at the current share price of $171.81. The Times reported that in compliance with the Securities and Exchange Commission guidelines, this disclosure was included in a regulatory filing that was […]

Business

Amazon pulls out of iRobot acquisition

Alex Omenye Amazon’s attempt to acquire iRobot, the renowned robotic vacuum manufacturer, has come to an end due to challenges faced with European regulators. Both companies have decided to mutually terminate the previously-announced acquisition agreement, where Amazon intended to buy iRobot for approximately $1.7 billion in cash, or a slightly lower amount. The companies issued […]

Jeff Bezos ex-wife Mackenzie Scott sells $10bn Amazon shares
Business

Jeff Bezos ex-wife Mackenzie Scott sells $10bn Amazon shares

The ex-wife of Amazon founder Jeff Bezos, MacKenzie Scott, sold about $10 billion in Amazon stock last year, marking a big financial move. The Times reported that Scott initially owned a large 4% of the company when her divorce was finalized. However, a recent regulatory filing shows that she sold 65.3 million shares of Amazon.com Inc. in […]

Amazon plans stand-alone app for payments in India
Tech

Amazon lays off staff from Buy with Prime division

Amazon on Thursday, announced that it is letting go of less than 5% of its workforce at its Buy with Prime division. Buy with Prime, which debuted in 2022, provides fulfilment and shipping services via its logistics network to businesses that aren’t Amazon merchants. The division is still a high priority, according to Amazon, which […]

Amazon Prime video shifts focus, cuts funding in Africa, Middle East
Tech

Amazon Prime video shifts focus, cuts funding in Africa, Middle East

Amazon Prime Video is reorganizing its global operations to concentrate on original European content, reducing staff and funding in Africa and the Middle East. There will be layoffs in the local teams even if Prime Video will still function in those regions. In the meantime, Barry Furlong, vice president of Prime Video Europe, will oversee […]

Amazon launches AI image generator for TVs
News Tech

Amazon launches AI image generator for TVs

Amazon on Wednesday launched the feature to create AI-generated images on Fire TV devices. Users who own a second-generation Fire TV Stick 4K Max or Fire TV Omni QLED Series device can use the functionality in the United States as of this Wednesday. Amazon’s Titan Image Generator, which it unveiled at its AWS re: Invent […]