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Tag: Amazon

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 […]

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 […]

Amazon lays off staff at Audible
News Tech

Amazon lays off staff at Audible

Amazon is cutting off 5% of the personnel at Audible, Business Insider reported on Thursday, citing a message by the president of the audiobook and podcast division. Amazon acquired the audiobook provider Audible in 2008 for around $300 million. The revelation comes as internet giants continue to drastically reduce employment, with several extending their layoffs […]

Amazon Prime Video lays off workers
News Tech

Amazon Prime Video lays off workers

Days after Twitch laid off workers, Amazon is cutting back on Prime Video and MGM Studios, laying off “several hundreds” of workers, according to The Information. By the end of this week, Amazon will have notified most other locations and has started notifying the impacted workers in the United States. Packages comprising separation money, transitional […]

Twitch enhances filtering tools to block sexual, violent content from livestream
News Tech

Twitch exits South Korea over operational cost

Twitch, an Amazon streaming division, said on Tuesday that it will cease operations in South Korea in February of the next year due to excessive operational expenses and network fees. “Twitch has been operating in Korea at a significant loss, and unfortunately there is no pathway forward for our business to run more sustainably in […]

Amazon updates Alexa, adds new features
News Tech

Amazon updates Alexa, adds new features

E-commerce giant, Amazon has updated the features for the voice assistant program for mobile devices, Alexa with a redesigned homepage and a tonne of new features, the most recent upgrade simplifies user control over smart home appliances. Users may personalize the Favourites area on the front page of the redesigned app, which makes it simple […]

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