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Amazon cuts jobs in books division amid broader efficiency push
News

UK regulator probe Amazon’s $4bn investment in AI Startup Anthropic

The UK’s Competition and Markets Authority has initiated a formal antitrust investigation into Amazon’s recent $4 billion investment in the AI startup Anthropic. This move follows the CMA’s previous announcement of an inquiry into Google’s own $2.3 billion investment in the same startup. Anthropic, a San Francisco-based AI company founded in 2021, focuses on developing […]

Astro: Amazon halts $2,349 security robot for business, targets households
News

Astro: Amazon halts $2,349 security robot for business, targets households

Amazon has announced that it will discontinue its Astro for Business security robot aimed at small- and medium-sized businesses, as the company redirects its efforts towards household robots. Initially launched in 2021 as a canine-like robot for household tasks, Astro garnered attention for its capabilities in home monitoring, setting routines, reminders, and entertainment functionalities like […]

Tech

AWS unveils $230m fund to boost AI startups

Alex Omenye Tech giant Amazon Web Services has launched a $230 million fund to support startups worldwide in developing generative AI applications. The announcement was made on Thursday via a statement on the company’s website. The fund aims to assist early-stage startups by providing AWS credits, mentorship, and educational resources to enhance their use of […]

Amazon cuts jobs in books division amid broader efficiency push
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 cuts jobs in books division amid broader efficiency push
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 […]

Alibaba Cloud expands with data centres in Malaysia, Philippines
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 courts Trump, seeks edge over Musk in space race
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 […]

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