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Meta posts big profit, plans massive AI investment
Meta posts big profit, plans massive AI investment
by  AFP

Social media giant Meta on Wednesday reported surging profits and revenue for 2024, announcing ambitious plans to expand its artificial intelligence infrastructure in the year ahead. The company expanded its workforce by 10 percent to 74,067 employees in 2024, with plans for further growth in technical roles focused on AI development and infrastructure.

Tesla results miss estimates, citing lower vehicle prices
Tesla results miss estimates, citing lower vehicle prices
by  AFP

Tesla reported lower than expected profits Wednesday, citing declining vehicle prices as a factor as it projected a return to volume growth in 2025. "With the advancements in vehicle autonomy and the introduction of new products, we expect the vehicle business to return to growth in 2025," Tesla said.

Microsoft profit rises but cloud business misses mark
Microsoft profit rises but cloud business misses mark
by  AFP

Microsoft on Wednesday reported profits of $24.1 billion in the recently ended quarter, but shares slid on worries over its vital cloud computing business. Microsoft revenue grew to $69.6 billion and the amount of money taken in by its "intelligence cloud" unit climbed to $25.5 billion but the market had expected more.

German industry sounds alarm as government cuts growth forecast
German industry sounds alarm as government cuts growth forecast
by  AFP

The German government on Wednesday slashed its growth forecasts for 2025 as industry leaders sent dire warnings over the country's economic health and staged nationwide protests to urge reforms. The lack of clarity over the shape of the next government and the country's economic policy were discouraging investments and "delaying the recovery", he said.