On Tuesday, the company announced Equinix Joint Venture with Singapore’s wealth fund GIC and Canada Pension Plan Investment Board. The joint venture is formed to finance the development of new data centers in the US for hyperscale customers.

The company aims to use the capital for purchasing lands to set up more than 100MW data center campuses to increase the capacity for Equinix’s hyperscale customers. In the last few years, Equinix is focused on the expansion of Data Centers by forming Joint Ventures with large investors like PGIM and GCI.

Image: Equinix

Aim of Equinix Joint Venture

The main motive of the joint venture is to create the funds for the expansion of the xScale, a product through which hyperscale providers can add core deployments to their existing footprints at IBX data centers. The JV will increase the number of data campuses in the US which will eventually add 1.5GW more capacity for Equinix’s customers.

The company is planning to scale the Data Center Expansions as there is a high demand for digital infrastructure in the US and Equinix is one of the largest data centers used by some of the largest technology companies like Microsoft, Amazon, and Google.

Numbers of the Equinix Joint Venture

The Canada Pension Plan Investment Board and GIC will own the equity of 37.5% in the joint venture, while Equinix will have the equity of the remaining 25%.

Equinix and CPP Joint Venture has been signed for the first time while GIC first partnered with the company in October 2019 to develop the facilities for the hyperscale customers. Earlier, they jointly invested more than $7 billion to establish data centers in various countries including South Korea, the UK, Japan, France, and Brazil.

In April, Equinix also formed a joint venture with PGIM worth $600 million to set up data centers in Silicon Valley. This JV will offer 28 MW of IT capacity. Overall, Equinix is one of the largest real estate investment trusts focused on data centers, with a market capitalization of almost $84 billion.

Thoughts behind the Joint Venture

Adaire Fox-Martin, CEO and President of Equinix said, the world’s leading companies are in the need to build their infrastructure to support keyloads such as Artificial Intelligence. For the most efficient inferencing, these companies require a combination of large-scale data centers optimized as per the AI standards and requirements. xScale and IBX offers are uniquely positioned to meet these needs of business and enable companies to utilize the full potential of AI.

While Gho Chin Kiong, Chief Investment Officer of real estate at GIC stated, “We are proud to expand our years-long partnership with Equinix.” He mentioned that GIC Capital and funds along with the operational expertise of Equinix will cater to the growing demand of the digital infrastructure. Through this JV, GIC will provide the funding needed to scale the data centers all over the US and to fulfill the demand for digital transformation.

With the increased usage of AI and growing demand for cloud services, Equinix is looking forward to scaling its data centers to increase the capacity for the hyperscale customers and large technology companies.

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Hopping onto the bandwagon, Disney’s machine learning tricks of the trade are to try and test a technology to witness its implications and advantages firsthand. What is the Disney AI Task Force and what can it do? Technowize brings you a feature on Disney’s tryst with artificial intelligence. 

The Disney AI Task Force: Machine Learning and Artificial Intelligence

Disney launched its AI task force earlier this year, prior to the onset of the Writers Guild of America (WGA) strike in May. The task force comprises a team of experts dedicated to exploring the potential applications of AI within Disney’s diverse range of operations.

Groot’s humanoid robot is quite spectacular. (Image Courtesy – Walt Disney)

Despite Disney’s reluctance to comment on the task force, many sources suggest that the company has listed eleven job descriptions related to AI and machine learning across various departments, including Walt Disney Studios, Parks, Imagineering, Disney Branded Television, and its advertising team. These positions highlight Disney’s dedication to incorporating artificial intelligence expertise into its workforce and leveraging the technology’s capabilities across multiple domains.

It’s worth noting that Disney’s use of AI in the post-production space primarily revolves around augmenting digital effects, rather than replacing actors or screenwriters. This distinction is crucial, as it addresses concerns raised by striking writers and actors who view generative AI as a potential threat to job security.

The introduction of AI tools in post-production enables Disney to enhance the quality and realism of visual effects in its movies and TV shows. By leveraging AI-generated effects, Disney can create stunning visuals that captivate audiences while still relying on the creativity and talent of human creators.

Objectives and Applications of Disney’s AI Task Force

The Disney AI task force has set forth several key objectives, including cost reduction in movie and TV productions and the enhancement of customer support experiences within the theme parks. By harnessing the power of AI and machine learning, Disney aims to streamline processes, increase efficiencies, and create more personalized and immersive experiences for its guests.

One intriguing aspect of Disney’s AI endeavors is the development of a Baby Groot robot capable of learning, moving, and potentially interacting with park guests. This ambitious project showcases Disney’s commitment to pushing the boundaries of entertainment technology and creating innovative experiences that blur the lines between imagination and reality.

Disney CEO Bob Iger has expressed his enthusiasm for the potential benefits of AI in various aspects of the company’s operations. During a recent earnings call, Iger highlighted the opportunities and efficiencies that AI presents, emphasizing its ability to better serve consumers and optimize internal processes. However, Iger also acknowledged the challenges of managing AI, particularly from an intellectual property (IP) management perspective.

In a lighthearted remark, Iger even mused about the possibility of an AI version of himself taking his place on earnings calls in the future. While this may be a playful notion, it underscores the growing importance of AI in the corporate world and its potential to reshape traditional roles and responsibilities.

The Larger AI Landscape in the Entertainment Industry

Disney is not alone in recognizing the value of AI in the entertainment industry. Other major players, including Netflix, Sony, and Donald Glover’s company, have also listed AI-related roles, reflecting the increasing demand for AI expertise. This trend has caught the attention of industry unions such as SAG-AFTRA, who view AI as a potential disruptor that could impact job opportunities for their members.

Duncan Crabtree-Ireland, SAG-AFTRA’s lead negotiator, has raised concerns about the significant salaries offered for AI-related positions, suggesting that companies may be strategically positioning themselves for a post-strike future by investing in AI and automation.

While concerns about job displacement and the impact on creative roles persist, Disney’s focus on utilizing AI to augment, rather than replace, human talent demonstrates a cautious and thoughtful approach. As the entertainment industry continues to evolve, the collaboration between AI and human creativity may pave the way for groundbreaking storytelling and unparalleled experiences.

The post Disney AI Task Force: Exploring the Marvels of Artificial Intelligence appeared first on Technowize.

The Chip Glut Effect On Samsung’s Q2 Profit Drop 

In line with the forecasts, Samsung’s Q2 earnings fall has unfurled the company’s tendency to witness a profit drop at a 14-year low. The chip glut effect on Samsung’s Q2 profit has driven a huge downbeat outlook despite the company cutting back on memory chip production due to a global slowdown in demand in the inflation era. 

As one of the world’s largest memory chip and smartphone makers, Samsung’s Q2 profit drop from last year to this year is from 14.1 trillion won to 600 billion won ($459 million).

The impact of the chip glut on Samsung’s Q2 profits persists, but losses are expected to reduce due to a rise in sales of DRAM chips. In the January-March Q1, the chip business suffered from a loss of 4.58 trillion won as inventory values were slashed. But Samsung’s Q2 profit drop has likely followed the one-up of sales of DRAM chips which are a component of PCs, mobile phones, and servers. 

The estimated profit was in congruence with 555 billion won. But Samsung’s Q2 earnings decrease is attributable to nearly 22 percent. In the early morning trade, Samsung’s shares underperformed a 0.6 percent drop after falling 1.4 percent. 

“Although memory chip prices fell, the drop was not as huge as feared. When full earnings will be announced, investors will be seeking third-quarter signals – how much effect will the production cut have, any demand recovery, and whether the higher-end DRAM and high bandwidth memory (HBH) products show any chances of improving the company’s profit mix.”

The electronics giant is scheduled to release a detailed earnings report on July 27.

Samsung’s DRAM chips. (Image Courtesy – Samsung)

When Will Samsung’s Chip Glut Impact Dip Out?

Analysts have speculated that Samsung’s chip glut impact will dip by Q3. Albeit, the rebound will only start small. Samsung will have to show clear grit and resilience in such daunting times to maintain its vigor and strong history. 

“DRAM memory prices are expected to rebound in earnest from Q4 and double-digit quarterly increases can be anticipated from the latter half of 2024.”

If it were any of Samsung’s contemporaries, it may have pulled out of the investment with the chip glut effect. But Samsung is expected to maintain its rendition in 2023 which is likely to be paid off with an increased market dominance in 2025. 

Samsung hopes to get back its verve after unveiling foldable smartphones later this month in Seoul, weeks earlier than the conventional releases. Industry experts have dubbed this move as Samsung’s attempt at dominating the premium market longer than its competitor Apple’s new iPhone launch in September. 

It is also notable to deduce that Samsung’s smartphone profits in the third quarter appeared to be mixed because, despite the recent recovery in economic conditions, the consumer sentiment in the global smartphone market remained frail.

The post Samsung’s Q2 Profit Drop Owing to the Chip Glut Effect appeared first on Technowize.

According to the International Federation of Robots (IFR), the global deployment of industrial robots has surpassed three million units, highlighting their pivotal role in driving industrial transformation.

Top Industrial Robot Companies: Innovators in Manufacturing Automation

A. ABB Robotics:

1. ABB Robotics is a Swedish-Swiss multinational corporation headquartered in Zürich, Switzerland.

2. It is one of the world’s leading robotics and machine automation suppliers making it one of the top industrial robot companies.

3. The industry offers a comprehensive and integrated portfolio covering robots, AMRs (Autonomous Mobile Robots), and machine automation solutions contributing to the process of innovation.

4. ABB Robotics operates in over 100 locations across more than 50 countries with approximately 11,000 employees.

5. ABB Robotics stands out as the only company with a complete and diverse range of robotics and automation offerings that significantly enhances productivity, efficiency, and safety in industrial settings.

6. ABB Robotics focuses on delivering seamless integration of robots, AMRs, and automation solutions through its software expertise.

7. Their portfolio caters to various industries, addressing the unique needs and challenges of each sector.

8.  ABB Robotics’ global presence and extensive network enable them to provide localized support and service to their customers worldwide.

B. Fanuc Corporation:

1. FANUC has been a pioneer in the development of Numerical Controls (NCs) since 1955, focusing on factory automation.

2. The company operates in the field of Factory Automation (FA), which includes NCs, servos, lasers, robots, and Robo machines.

3. FANUC applies IoT/AI technologies across its product lines, enabling customers to utilize its products more efficiently.

4. The company emphasizes providing ongoing support for its products, ensuring continuous assistance to customers who use their equipment.

5. By promoting automation and efficiency in customers’ factories, FANUC contributes to the growth and development of the manufacturing industry both in Japan and internationally.

6. FANUC America is a leading provider of robotics, CNCs (Computer Numerical Controls), and ROBOMACHINE solutions.

7. FANUC’s products are widely recognized and installed worldwide, with over 25 million units deployed across various industries.

8. The company’s commitment to innovation and customer support has made FANUC a trusted and familiar brand in the field of manufacturing automation.

C. Yaskawa Electric Corporation:

1. The company is driven by its management philosophy of contributing to the development of society and the welfare of humankind through its business performance.

2. Yaskawa Electric introduces the concept of “i³-Mechatronics,” a solution that integrates mechatronics products with the utilization of digital data to achieve continuous improvements in customers’ productivity.

3. The company focuses on strengthening its core businesses, including servo motors, controllers, AC drives, and industrial robots, and leveraging these technologies to evolve mechatronics through the use of digital data.

4. Yaskawa Electric is committed to revolutionizing industrial automation and addressing customers’ business challenges through its innovative solutions.

5. As a Japanese manufacturer, Yaskawa Electric Corporation specializes in servos, motion controllers, AC motor drives, switches, and industrial robots.

6. Their Motoman robots are heavy-duty industrial robots widely used in various applications such as welding, packaging, assembly, coating, cutting, material handling, and general automation.

D. KUKA Robotics:

1. KUKA is a German manufacturer of industrial robots and systems for factory automation. 

2. The majority ownership of KUKA is held by the Chinese company Midea Group, with over 95% ownership.

3. With sales of approximately 3.3 billion euros and around 14,000 employees, KUKA is a global automation corporation.

4. The company’s headquarters are located in Augsburg, Germany.

5. KUKA is recognized as one of the world’s leading suppliers of intelligent automation solutions.

6. They offer a comprehensive range of products and services, including robots, cells, fully automated systems, and networking capabilities.

7. KUKA serves various markets such as automotive, electronics, metal & plastic, consumer goods, e-commerce/retail, and healthcare.

8. The company is focused on expanding its position as an innovative and technologically advanced leader in the industry.

9. KUKA aims to capitalize on global trends and leverage its expertise to achieve the best possible outcomes for its customers.

10. With a strong emphasis on intelligent automation, KUKA provides integrated solutions to meet the diverse needs of industries worldwide.

E. DENSO Robotics:

1. DENSO is one of the world’s largest automotive parts manufacturers and has been a leader in manufacturing automation since the 1960s.

2. The company specializes in the design and manufacturing of industrial robot arms and it employs over 150,000 people across 38 countries and regions and generates over $40.4 billion in sales.

3. It is also the world’s largest user of small assembly robots, including 4-axis SCARA robots and 5-6 axis articulated robots.

4. Over 27,000 DENSO small industrial robots are employed in the company’s own manufacturing facilities, additionally, more than 143,000 DENSO small industrial robots are used by other companies globally.

5. DENSO is an innovative leader in the field of robotics, providing solutions to global industries.

6. They offer a wide range of high-speed, high-precision four-axis SCARA and five-six-axis articulated industrial robots, with payloads up to 20 kg.

7. DENSO Robotics provides various models, including standard, dust- and mist-proof, dust- and waterproof, cleanroom, and aseptic robots to suit different applications.

8. In addition to industrial robot arms, DENSO offers user-friendly programming software, controllers, and teaching pendants.

9. DENSO’s commitment to quality has been a driving force since its inception in 1949, with a focus on producing the highest and most consistent quality products.

Leading Robotics Manufacturers have curated and launched remarkable products in the market liberating tedious human labor. Leveraging robots developed by innovative robotics companies leads to efficiency and precision. It is important to emphasize the fact that robots are not a replacement but a supplement. 

The post Leading Industrial Robotics Companies in 2023: Paving Way into the Future appeared first on Technowize.

Just when the year seemed to be packed up with a lot of exciting stuff in its kitty, as we went on to catch a glimpse of it at the star-studded CES 2023, things changed drastically in no time. Much like human life in general. 

First, the all-new AI chatbot ChatGPT by OpenAI, not only grabbed the eyeballs but also raised the eyebrows as well. And this was quickly followed up by the devastating news of tech-giant Google firing as many as 12,000 employees overnight.

Let’s delve deeper with the story to find out what led to this shocking incident and what lies as the aftermath. 

Parul Koul, executive chair of Alphabet Workers Union-CWA said in a statement, “Alphabet leadership claims ‘full responsibility’ for this decision, but that is little comfort to the 12,000 workers who are now without jobs.” [Image Credit: Freepik]

Google Layoffs: The Story Behind the Story 

For the uninitiated, this happens to be the largest ever layoff in the company’s history, as its CEO Sundar Pichai announced to the world that the tech power-player has decided to let go 6% of its total global workforce. Pichai stated that it was indeed a tough call and he takes full responsibility for this shocking development. He said that the company had to conduct this large-scale firing in order to adapt with the changed scenario, which has tweaked all equations upside down. 

Pichai himself wrote in the email sent to the Googlers, which was later shared by Google on its website, “I have some difficult news to share. We’ve decided to reduce our workforce by approximately 12,000 roles. … The fact that these changes will impact the lives of Googlers weighs heavily on me, and I take full responsibility for the decisions that led us here.” 

Let’s have a quick look at the ‘decisions that led’ to the Google Layoffs, while also shedding light on the other important factors that have something seriously to do with this disaster and other major talking points. 

• Google along with most other tech companies embarked on a hiring spree during the pandemic times. This was done to encash on the new opportunities that those otherwise gruesome times came with. For your information, Google’s parent  company, Alphabet’s total workforce rose from 150,000 to 187,000 within less than a year. 

But the dividends were short-lived. The stocks of Mountain View, California-based Alphabet, had plummeted by 30% in the last 12 months, something which speaks volumes about the current state. Pichai himself says in his letter, “We hired for a different economic reality than the one we face today.”

• Pichai started to cut down costs in July, when he labeled the company’s productivity “not where it needs to be.” Since then Google has shut shop the hardware division’s laptop efforts, spun off Project Loon, downsized the Area 120 “idea incubator” group in half, closed Google Stadia, decided to invest less in Google Assistant, merged Waze into Google Maps, cut 15 percent of Alphabet health company Verily’s workforce, and cut 17 percent of the staff at the “Intrinsic” Alphabet robotics company.

If we connect these dots, the reading was already on the wall. 

• There’s an increasing fear of global recession in the air. We saw the Meta layoffs, the Twitter mass exodus, shortly after the company conducted layoffs and a host of tech layoffs in recent times – Amazon, Microsoft, Salesforce, Lyft, HP, Cisco, Intel – the long-list goes on and on. 

Susannah Streeter, an analyst at Hargreaves Lansdown opined, “It is clear that Alphabet is not immune from the tough economic backdrop, with worries about a U.S. recession growing.”

• Alphabet has been one of the pioneers in AI, for years. But pretty recently, the surge of OpenAI’s ChatGPT, which is backed by Microsoft, has started to make things difficult for it. 

What’s Next and the Other Side of the Story? 

Contrary to what Pichai has said to justify the Google Layoffs, Parul Koul, executive chair of Alphabet Workers Union-CWA said in a statement, “Alphabet leadership claims ‘full responsibility’ for this decision, but that is little comfort to the 12,000 workers who are now without jobs.” 

She slammed the top-brass of the management by further adding, “This is egregious and unacceptable behavior by a company that made $17 billion dollars in profit last quarter alone.” The fact that even workers spending close to two decades on the company were not spared, has shook the entire tech industry. 

Meanwhile, as Google sacks a significant chunk of its workforce, the panic grows even further. Tech layoffs don’t seem to dwindle a bit, as more and more companies gear up to orchestrate disposing of employees. In a way, this opens up the nakedness of the tech world, where words like humanity, empathy and sensitivity appear to be from a distant planet and acknowledgement or consideration for ‘loyalty’ has long faded into oblivion. 

It has been learnt that Google sacks 12,000 of its employees “to ensure that our [Google’s] people and roles are aligned with our [its] highest priorities as a company.” The Mountain View-headquartered tech-giant is reported to focus more on AI in the coming days, which also found reflection in Pichai’s statement. 

We will keep a close tab on how Google shapes after this highly controversial mass firings and how the tech world responds to the series of layoffs amidst the rising fears of a global recession. Stay tuned, we will get back to you soon with further updates. 

The post Examining the Google Layoffs: Cause, Effect and the Flip Side of the Coin appeared first on Technowize.

This comes as a huge shock to the global tech industry as it adds to the woes in a great deal. Moreover, the global economy was already volatile and this dampens the slow process of an attempted market recovery, to a great extent. The topsy-turvy situation has now become way too problematic as the illusion of a turnaround has just broken into pieces. 

In a nutshell, this is massive and the effects will not remain limited within the peripheries of the tech industry itself. Rather, it will have larger ramifications, affecting the world economy in general.

Let’s delve deeper into the Google layoffs, which has sent shock waves across the world, to figure out what it actually means to the tech world and the equations might just turn upside down. 

Considering all aspects, the Google layoffs make it almost certain that this is just the tip of the iceberg and others will follow suit soon. [Image Credit: Freepik]

Google Layoffs Open up the Pandora’s Box 

Google’s parent company Alphabet has orchestrated the largest ever layoff in its history as it decided to cut down 6% of its total global workforce. CEO Sundar Pichai took responsibility for the worst of the tech layoffs in recent times, as he tried to sound apologetic in a press release. 

It has been learnt that the company will give some compensation along with a severance package to the 12,000 employees affected by the sudden shock. 

Considering all aspects, the Google layoffs make it almost certain that this is just the tip of the iceberg and others will follow suit soon. 

The Bubble Has Been Bursted 

Last year was marred by a host of tech layoffs. On one hand, Twitter conducted a massive layoff immediately after Elon Musk took over, followed by a mass exodus in the company. Twitter is yet to recover from those events and the social media giant is now leaning dangerously at the edge. 

Whereas, on the other hand, the Meta layoffs shook the entire world, as Mark Zuckerberg simply washed his hands off and continued with his over-ambitious, multi-billion Metaverse project, which is yet to get a kick. 

But, there was a feeling that things are changing slowly and the global tech market is moving in the right direction. However, just when the industry seemed to cool down and appeared making gradual progress, the Google layoffs came as an absolute shocker from the Silicon Valley to tear apart the apparent safety valve. 

Google Layoffs: There’s Much More in Store

Of late, in addition to the Google layoffs, a series of tech layoffs have taken place. From Microsoft to Amazon and Intel to Salesforce, tech players have trimmed their workforce overnight. 

All of these tech layoffs indicate a massive downfall in Silicon Valley as well as the global tech industry in general. But sadly, the aftershocks will be felt all across the globe. 

Total Panic

People in the tech sector have become panic-stricken, as there’s a fear in the air about further tech layoffs in the coming days. With the rise of OpenAI’s ChatGPT, there were strong speculations that it could lead to an array of IT layoffs and those fears have started to become realities, sadly. 

What’s Next? 

Google layoffs and the other tech layoffs which have taken place in the last few days, will surely lead to more IT layoffs. Moreover, these events give rise to the threat of another global recession, triggering up the trauma of the 2008 Global Recession and the 1928 Great Depression. 

We will keep a close eye on this and will get back to you with exclusive updates. 

The post Google Layoffs Add Fresh Blow to the Volatile Tech Market appeared first on Technowize.

A rare amalgamation of throwback styling and modern engineering, the Nissan Z 2023 sticks to vintage nameplates. Hence, it evokes nostalgia and strikes a chord with millions of retro car lovers around the world. Interestingly, the All-New Nissan Z rides on the same FM (“front midships”) platform, which happens to be the original 21st century Z — the 2003 350Z — arrived in the market some 20 years ago. 

Let’s have a close look at the upcoming Nissan Z 2023, which is likely to run riot through the automobile market next year. 

The new Nissan Z happens to be the first in the seventh generation of the glorious Nissan Z series. [Image Credit: Nissan]

Of History That Has Etched Forever with Sports Cars 

Nissan is indeed a pioneer, when it comes to sports cars. It has some real standout sports cars in its garage – the original Nissan Skyline, the modern GT-R, the historical Fairlady Z and the Nissan 350Z. But there’s always something special about the smash-hit Nissan Z series. 

The first Nissan Z was introduced to the world in 1969. It came with a powerful 6-cylinder under the hood, responsive suspension and of course, stunning looks. When the first line-up hit the stores, they became an instant hit. Since then, over the course of 50 years, this series has churned out 40 models. 

The iconic cars of this blockbuster series are widely celebrated for their signature styling and accolade for sheer power and monstrous performance. Moreover, Nissan managed to pack an array of enviable features, along with an impeccable look – blend of charisma, elegance and style, at a really competitive price. This is indeed remarkable and went on to pay Nissan huge dividends, for years after years. 

When we look at the iconic Nissan Z, among all the cars that came out in this half a decade, the Datsun 240Z, the Fairlady Z, the 300ZX, the 350Z and 370Z, appear to be clear standouts. Nissan’s philosophy behind the making of its stunning sports cars says it all, “The times change, technology is enhanced, but the passion for giving you a thrilling drive always will remain.” 

2023 Nissan Z: Reimagining Charisma

The new Nissan Z happens to be the first in the seventh generation of the glorious Nissan Z series. It gives the vibes of classic sports cars, thanks to a long hood and a short rear deck. With iconic Z styling elements, it upholds the legacy of swashbuckling performances. Even the first look of the 2023 Nissan Z is enough to suggest that it’s an exemplary reference to modern design. 

It comes with a 3.0-liter V6 twin-turbo engine and has been claimed to  clock 400 horsepower and 350 pound-foot of torque. The All-New Nissan Z is bolstered with the electrifying presence of a powerful 6-cylinder under the hood; a Front Midship, and a rear-wheel-drive design that places the engine farther back in the chassis for providing enhanced balance.

When it comes to speed, the 2023 Nissan Z comes out with flying colors as instrumented testing has shown the rear-wheel-drive coupe at around 4.4 seconds in zero-to-60 acceleration and 13 second flat in the quarter mile, both are stunning figures. Nissan must be lauded for presenting buyers with a 6-speed manual transmission, which is indeed commendable as most of the sports cars available at the moment, don’t provide a three-pedal option. Moreover, you will enjoy a 9-speed automatic setup.

In a nutshell, the Nissan Z 2023 is an absolute bargain, given its price –  Z Coupe Sport MT or 9AT costs $39,900, Z Coupe Performance 6MT or 9AT  costs $49,990 and Z Coupe Proto Spec 6MT or 9AT has a pocket-pinch of $52,990. For your information it would be up for grabs in three different colors – seiran blue, ikazuchi yellow and rosewood metallic. 

Nissan must be lauded for presenting buyers with a 6-speed manual transmission, which is indeed commendable as most of the sports cars available at the moment, don’t provide a three-pedal option. [Image Credit: Nissan]

Clash of the Titans in 2023 

The year 2023 is going to be extremely significant in the history of automobiles. A lot of talismanic cars will be pitted against each other, in the new year. Firstly, the 2023 BMW X1 is coming out soon. Secondly, the Toyota Prius 2023 is also going to hit the roads next year. 

On the other hand, in the luxury sedan section, the 2023 Lexus LS 500 will be right there at the stores for the ones who have a great taste for premium cars and come with a deep pocket. There’s Audi too in the ring, with the one last hurrah of the famous R8 series – 2023 Audi R8 GT. 

The equation would be extremely interesting to see when the 2023 Nissan Z finally hits the roads and locks horns with all these maverick cars. 

The post 2023 Nissan Z: The Return of an Icon appeared first on Technowize.

On Wednesday night, Elon Musk sent a mass email, which appeared sort of an ultimatum and resulted in a mass exodus, which deepens the ongoing Twitter crisis. Let’s try to decode the surprising chain of events, which might lead to a catastrophe for Twitter. 

Within weeks of the Musk takeover, Twitter finds itself in hot water. [Image Credit: Twitter]

A Fork in the Road

Days after engineering the controversial Twitter layoffs, which led to the company’s total workforce getting reduced to 3,700, Musk sent a ‘hardcore’ ultimatum email to the employees. Titled, ‘A Fork in the Road’, it came as an absolute shocker to the Tweeps. In this very email, which happened to be his first official address to the employees since the $44 billion takeover, Musk didn’t write off the possibility of Twitter going bankrupt. He clearly said, “bankruptcy isn’t out of the question.” 

The richest person on earth, asked Twitter workers to choose among the two given options. Either, adhere to the new “extremely hardcore” work culture that will have long, intense work hours, or, leave. However, he mentioned that those who resort to the second option, will get three months’ severance pay. Everyone was presented with a strict deadline – asked to submit the response by Thursday afternoon. 

Going by several reports and leaks by former employees, as many as 75% of the remaining Twitter workforce has put down their papers. This means, within weeks Twitter’s effective workforce has been cut short by a staggering 88%. 

Twitter Mass Exodus: Beginning of the End? 

Just after the massive Twitter layoffs, Musk terminated the contracts of as many as 20 top-brass officials, who spoke against him in public as well as in the company’s internal Slack messaging channel. There are reports of the company severing professional ties with the lion’s share of its contractors. 

In addition to all these, several key officials left the office in the past two days. Chief Information Security Officer Lea Kissner, Chief Privacy Officer Damien Kieran and Chief Compliance Officer Marianne Fogarty – three immensely important security officials resigned on Thursday morning to kick-start a mass resignation drive at Twitter. 

Twitter’s head of client solutions, Robin Wheeler and another key official Roth, have also departed, of late. 

Twitter Crisis: What’s Next?

Twitter is really in a topsy-turvy situation. From Friday morning, #RIPTwitter was on top in trending. It’s been only three weeks since Musk pulled the whopping $44 billion deal off and it now looks like a house of cards. 

Musk himself expressed his serious doubts over the company’s future in his mass email, “Without significant subscription revenue, there is a good chance Twitter will not survive the upcoming economic downturn.” With the FIFA World Cup 2022 knocking at the doors, the company looks to miss out on capitalizing on one of its busiest events, as almost 88% of its workforce have left the office. 

At this moment, the future of Twitter looks extremely bleak. Moreover, there’s a huge amount of talent in the market who have just gone out of contract, which is going to affect an already volatile global economy. The Twitter layoffs were followed by the Meta layoffs and this time, the Twitter mass exodus appears to be a complete farce.

The Musk takeover could well bring the curtains of Twitter down forever. It’s high time Musk rethinks his ‘hardcore’ stance. 

The post Inside the Twitter Mass Exodus: Decoding the Drama appeared first on Technowize.

Despite losing $50 billion in 2022, Jeff Bezos’ net worth has risen by 32% since 2019. [Image Credit: Amazon]

Landslide in the Tech-stock Market

This year, we witnessed a massive downfall when it comes to tech stocks. With more than two months still left in 2022, Netflix stocks falling by more than 60 percent so far, is indeed alarming to say the least. Often dubbed as the world’s foremost entertainment streaming platform (quite rightly so), Netflix experienced a huge boom after making the most of the opportunities which popped up after the arrival of the pandemic. But from last year, soon after the short-lived dream-run, the phenomenon called ‘Netflix stocks falling’ continued to happen. It caused a stir not only in the stock market and the entertainment industry, but it also had a significant impact on the global tech industry’s equations. To make matters worse, Meta stocks were down 58 percent, dashed hopes for a strong start for Metaverse and reshaping the power structure of the tech world.

Going by the data provided by a survey carried on by Google Finance, Google stocks dropped by around 30 percent within a year. Amazon also experienced the same fate. However, despite so many blue-chip tech-stocks plunging down, many of the top tech billionaires scaled new heights in terms of net worth, thwarting away the crunching effects of total losses amounting to a staggering $315 billion. 

The Unusual Phenomena in the Tech-world 

The founder of Amazon, Jeff Bezos went on to lose as much as $50 billion in 2022. Yet according to the report revealed by Forbes, he still possesses $151 billion. Therefore, his wealth rose by close to 32 percent in the last three years. The case is almost the same with many other tech billionaires, whose fortunes increased while coming to terms with huge losses this year. Microsoft founder Bill Gates was unaffected by a whopping loss of $28 billion, as he managed to retain his net wealth of $106 billion, estimated before the pandemic hit us hard.  On the other hand, another leader among tech billionaires, the co-founder of Google Sergey Brin’s net wealth is $35.5 billion more than it was in 2019. 

In a nutshell, as many as 56 out of the 65 tech-billionaires on the Forbes 400 list, have become richer as compared to the scenario in 2019. Therefore, Netflix stocks falling, Meta stocks down or Google stocks dropped – couldn’t check the juggernaut of tech billionaires. This is indeed awe-striking and calls for a different socio-economic reading altogether.

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Sony profit for the year 2021-2022 saw a 17% increase in operating income to reach $1.67 billion.

Sony Group expects sales to rise but predicts a 6% decline in profits for 2022-23.

February Earnings & Predictions

In February 2022, Sony had raised its full-year profit estimate by 15%, after earnings for Spider-Man: No Way Home skyrocketed, crushing analyst estimates. Due to the movie’s success, operating Sony picture profits rose over seven-fold to approximately $1.30 billion. Bolstered by the success of the movie which was released when the Omicron coronavirus variant was still prevalent, the Japanese conglomerate expected its pictures segment to do exceedingly well in the coming months.

Even PlayStation posted a rise in Sony profit 2021 as the gaming console saw sales exceeding 3.5 million units of PS5 in the third quarter. However, the group cut its PS5 sales forecast to 11.5 million units from 14.8 million units.

Q4 Results and Predictions

Sony group sales for January to March 2022 increased by 1% to approximately $17.4 billion while net income rose to almost $853 billion; a growth of nearly 67%.

Although the group saw a rise in sales, it was not enough to hold up net profits. Sales for the financial year 2021-2022 rose by 10% to nearly $76.3 billion while net profits fell to $6.78 billion.

For the financial year 2022-23, the group expects a 15% increase in sales but does not expect profits to correspond to it. In fact, they predict a 6% decrease in net profitability and a fall of almost $6.38 billion.

Sony earnings 2022 for the pictures division, which spans TV, films, networks, and production, made profits of almost $101 million on revenues of $2.69 billion. Revenues poured in from across the board, film, streaming revenues, and catalog licensing.   

The group revealed that they expected sales to increase significantly on a year-on-year (YoY) basis mainly due to rising sales in game and network services (G&NS) and image and sensing solutions (I&SS). Sony’s games and network services division comprises both hardware and software. Although profitable, this year it barely managed to record profits better than the previous year. Furthermore, PlayStation Plus subscribers were less in comparison to the same period the previous year.

In March 2022, PlayStation subscribers stood at 47.4 million while it was 47.6 million last year.

Operating income is expected to decrease YoY primarily due to an expected decrease in operating income in the pictures segment and an expected decrease in operating income in the G&NS segment.

Income before income taxes is expected to essentially be flat year-on-year. The Japanese company stated that this forecast is due to an expected improvement in financial expenses as a result of unrealized gains and losses on securities not being included in the May forecast, compared to the previous fiscal year in which Sony recorded 66.2 billion yen of unrealized losses on securities, substantially offset by the impact of the above-mentioned decrease in operating income.

In the written statement on Sony earnings 2022, the group clarified that “net income attributable to Sony Group Corporation’s stockholders is expected to decrease year-on-year, mainly due to the absence of a reduction in income tax expense resulting from the reversal of the previous write-down of deferred tax assets in the fiscal year ended March 31, 2022.”

Some analysts believe that the fall of the yen, which is at a 20-year-low against the US dollar, will work in Sony’s favor. 

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