Author: Doris Israel Ijeoma

Elon Musk’s xAI, a formidable competitor to OpenAI, has secured a substantial $6 billion in funding, boasting a pre-money valuation of $18 billion.  Investors, including Sequoia Capital, Future Ventures, Valor Equity Partners, and Gigafund, will collectively own a quarter of the company. Musk’s ambitious vision extends beyond xAI’s standalone potential, aiming to seamlessly integrate its technology across his expansive portfolio of companies, including Tesla, SpaceX, Boring Company, and Neuralink, bridging the gap between the digital and physical realms. With xAI’s chatbot, Grok, already integrated into Musk’s social media platform, X, synergies across his ventures are anticipated, potentially reshaping the landscape…

Alphabet Inc., the parent company of Google, has reported record-breaking financial results for the first quarter of 2024.  The tech giant announced a staggering $80.5 billion in revenue, marking a remarkable 15% year-over-year growth. With a net income of $23.7 billion, Alphabet has decided to issue its first-ever dividend, with shareholders set to receive a cash dividend of $0.20 per share. This move reflects the company’s strong financial position and commitment to rewarding its investors. CEO Sundar Pichai attributed the impressive performance to the continued strength in core segments such as Search, YouTube, and Cloud services. He emphasized Alphabet’s strategic…

Despite mounting pressure from the US government, ByteDance, the parent company of TikTok, asserted its stance against selling the popular video-sharing app.  The company denied any plans for divestment, despite a nine-month deadline imposed by US law due to national security concerns. Recent reports from The Information suggested that ByteDance may explore selling TikTok without its recommendation algorithm, further complicating the situation. However, TikTok firmly denied any association with the Chinese government and pledges not to share US user data with Beijing. In response to the new law, TikTok’s CEO vowed to challenge it in court. However, experts cautioned that…

In Meta’s latest earnings call, CEO Mark Zuckerberg announced that Threads, the social network’s rival to Twitter and X, has reached a milestone of over 150 million monthly active users.  This marks a significant increase from the 130 million reported just two months ago. One notable development for Threads is its integration with ActivityPub, a decentralized protocol powering networks like Mastodon. Users in the U.S. over 18 can now connect their accounts to the Fediverse, broadening Threads’ reach across decentralized platforms. Meta plans to further expand Threads’ ecosystem by releasing its API to developers by June, potentially opening avenues for…

TikTok CEO Shou Zi Chew has issued a defiant response to the prospect of the Chinese-owned platform facing a ban in the United States if not sold within nine months.  In a video message shared on the platform, Chew assured users, “We are not going anywhere.” He characterized the new law as political and emphasized TikTok’s role in fostering freedom of expression. Chew pledged to fight for users’ rights in the courts, citing legal precedent from a previous battle against a similar attempt by former President Donald Trump in 2020. “Be rest assured, we aren’t going anywhere. “Make no mistake,…

In a groundbreaking development, Changpeng Zhao, the founder of Binance, the world’s leading cryptocurrency exchange, is under scrutiny for money laundering violations. United States prosecutors are advocating for a significant 36-month prison sentence following Zhao’s admission of guilt last November. The case, set to conclude on April 30th in Seattle, marks a pivotal moment in regulatory oversight within the cryptocurrency sector. Zhao’s voluntary resignation as Binance’s chief executive officer coincided with the exchange’s acknowledgment of wrongdoing, resulting in a historic $4.32 billion penalty. Prosecutors argued that Zhao’s deliberate breaches of U.S. laws warrant an above-guidelines sentence, emphasizing the severe consequences…

Formerly known as Twitter, X is set to revolutionize how users consume video content with its upcoming dedicated TV app.  CEO Linda Yaccarino unveiled the exciting development, promising real-time, captivating content directly on smart TVs. The app’s interface draws inspiration from YouTube’s familiar layout, boasting a trending video algorithm and AI-driven topics for personalized recommendations. Users can seamlessly transition from mobile to TV screens, enjoying uninterrupted viewing experiences. With an emphasis on accessibility, X pledges enhanced video search capabilities and compatibility with a wide range of smart TVs. While an official launch date remains undisclosed, anticipation runs high for this…

Google has come under scrutiny after dismissing over 20 employees who protested the company’s involvement in a lucrative deal with Israel during the recent Gaza conflict.  The protests, organized by the group ‘No Tech For Apartheid’, aimed to condemn Google’s provision of technology to the Israeli government. The termination count now surpasses 50, with dismissals occurring at Google offices in New York and Sunnyvale, California. The contentious project, dubbed “Project Nimbus,” involves a substantial $1.2 billion contract to provide cloud computing and AI services to the Israeli government. Sit-in protests erupted at Google’s offices, resulting in several arrests by law…

The Philippines Securities and Exchange Commission (SEC) has directed tech giants Apple and Google to remove the Binance app from their respective app stores for users in the Philippines.  This directive comes amidst growing concerns raised by the SEC regarding Binance’s operations within the country. According to a press release issued by the SEC on April 23, the regulatory body has identified Binance as a potential threat to the security of Filipino investors’ funds. The SEC cited Binance’s alleged sale of unregistered securities and operation as an unregistered broker as key reasons behind the directive. Emilio Aquino, Chair of the…

The Speaker of the House of Representatives, Tajudeen Abbas, has announced plans to introduce legislation aimed at regulating and applying Artificial Intelligence (AI) in Nigeria.  This move, unveiled during the matriculation ceremony of the National Institute For Legislative And Democratic Studies (NILDS)-University of Benin (UNIBEN) Post Graduate Programmes and HND Programme in Abuja, underscores Nigeria’s commitment to staying abreast of global technological advancements. Speaker Abbas emphasized the importance of AI in human capital development and highlighted the need for a legal framework to ensure its responsible application. The initiative aims to achieve a balanced labour-capital ratio in Nigeria’s development process,…

Gurugram-based startup Staqu Technologies has unveiled its groundbreaking AI-powered platform, CrimeGPT, designed to bolster crime detection efforts for police forces across India. Law enforcement agencies in India grapple with challenges stemming from unstructured data and outdated record-keeping systems, hampering their ability to conduct effective crime investigations. In response, Staqu Technologies has developed Trinetra 2.0, incorporating CrimeGPT, a sophisticated language model trained on extensive criminal databases, poised to transform law enforcement practices in the country. CrimeGPT, spearheaded by Atul Rai and his team, leverages cutting-edge Retrieval-Augmented Generation (RAG) techniques to sift through unstructured data such as First Information Reports (FIRs) and…

In a bid to enhance safety and transparency in online dating, Tinder has unveiled its latest feature, “Share My Date.”  This innovative tool allows users to seamlessly share their upcoming date plans directly from the app. With “Share My Date,” users can send a link containing essential details about their scheduled rendezvous, including the match’s name, meeting location, date, and time, along with the option to add a personal note. Notably, these links can be shared up to 30 days in advance and are fully editable, ensuring flexibility and accuracy. One of the standout aspects of this feature is its…

Former Minister of Communications and Digital Economy, Isa Pantami, has expressed his disapproval of the relaunch of the National Centre for Artificial Intelligence and Robotics (NCAIR) by his successor, Bosun Tijani. The NCAIR, aimed at fostering research and development in emerging technologies like AI and Robotics, was initially established during Pantami’s tenure. However, Tijani’s announcement of the relaunch, supported by global tech company Cisco, sparked controversy as Pantami felt his legacy was being overshadowed. Pantami took to social media to assert that the NCAIR had been operational since November 2020 and had made significant strides in training Nigerians in advanced…

Nike Inc. is taking further steps to streamline its operations, announcing the elimination of over 740 jobs at its Oregon headquarters.  This move comes as part of the company’s ongoing cost-cutting efforts, marking the “second phase of impacts” in its workforce restructuring plan. CEO John Donahoe, who unveiled plans in December to reduce global headcount by 2%, aims to achieve $2 billion in cost savings over the next three years. The initial wave of layoffs commenced in February, with the process slated for completion by the end of the fiscal year. Donahoe emphasized the necessity of these measures to bolster…

Finance Minister Wale Edun has announced the Federal Government’s anticipation of a $2.2 billion loan from the World Bank and budgetary support from the African Development Bank.  He revealed this during a press briefing following Nigeria’s participation in the World Bank/IMF Spring Meetings, The funding, sourced from diaspora remittances, foreign portfolio investments, and international development partners, aims to bolster Nigeria’s economic growth. Additionally, plans include issuing dollar-denominated securities targeted at diaspora Nigerians and individuals with foreign currency savings in the country. Efforts to stimulate growth involve aligning government securities closer to the Central Bank of Nigeria’s monetary policy rate and…

The U.S. House of Representatives has passed a significant bill aimed at ByteDance, the parent company of popular social media platform TikTok. Under the legislation, ByteDance is required to sell TikTok within a nine-month window or face a potential ban in the United States. The bill, which garnered strong bipartisan support, also grants the president the authority to extend this deadline by an additional 90 days if deemed necessary. The extension proposal, suggested by Senate Commerce chair Maria Cantwell, aims to increase the likelihood of ByteDance divesting its ownership of TikTok. The bill forms part of a broader legislative package…

The Federal Competition and Consumer Protection Commission (FCCPC) has unveiled the results of its investigation into the soaring prices of goods and services in Nigeria.  Despite efforts by the Tinubu-led government to stabilize the currency, the cost of living continues to rise, with food inflation reaching 2.82%. In a comprehensive study, the FCCPC identified multiple factors contributing to the price surge, including high transportation costs and layers of taxation. Mrs. B.A. Adeyinka, the Director of Surveillance and Investigation, emphasized the burden placed on consumers due to increased transportation expenses, rising pesticide costs, and security concerns in certain regions. The FCCPC…

Google Chrome has unveiled a groundbreaking preloading feature aimed at accelerating webpage loading times for users.  Leveraging sophisticated algorithms, this feature initiates the loading of web pages in the background before users actually click on them. By analyzing browsing history and behaviors, Chrome predicts which pages users are likely to visit next, thus optimizing the preloading process. Accessible through Chrome settings, users can enable preloading on mobile devices by navigating to “Privacy and security” and selecting either “Standard preloading” or “Extended preloading.” On desktop or laptop, the feature can be activated by accessing Chrome settings, choosing “Performance,” and toggling on…

In a remarkable turn of events, Netflix has announced the addition of 9.33 million new subscribers in the first quarter of 2024, surpassing analyst projections.  This surge in growth is primarily attributed to the success of its original content and strategic measures aimed at curbing password sharing. The streaming giant experienced robust growth on a global scale, with particularly strong performance noted in the US and Canada. However, despite this impressive milestone, Netflix shares declined by 4.6% following the announcement, signaling mixed investor sentiment. In a strategic shift, Netflix revealed plans to discontinue reporting paid quarterly memberships and revenue per…

Meta, the parent company of Facebook, WhatsApp, and Instagram, has announced the expansion of its AI service, “Meta AI,” to 12 countries outside the United States.  These countries include Nigeria, Ghana, South Africa, Canada, Australia, Zambia, Zimbabwe, Malawi, and others. The rollout, currently available in English, aims to enhance connections and provide users with new creative, expressive, and productivity tools directly within these popular apps. Since its initial unveiling at last year’s Connect event, Meta AI has evolved into a multifaceted tool seamlessly integrating into users’ daily lives. Powered by Meta Llama 3 technology, Meta AI empowers users to accomplish…

In compliance with directives from China’s top internet regulator, Apple has taken down WhatsApp and Threads from its App Store within the country. The Cyberspace Administration of China (CAC) cited national security concerns as the reason behind the removal. While the apps remain accessible in other regions, China’s stringent internet censorship often limits access to foreign platforms without the use of VPNs. Despite challenges, China remains a vital market for Apple. This move follows China’s previous claims of cracking Apple’s encrypted AirDrop communication service, utilized during the 2019 Hong Kong protests. Notably, Google, Facebook, and WhatsApp have long been inaccessible…

Elon Musk, CEO of X (formerly Twitter), issued a stern warning against engagement farming on the platform, threatening suspension for accounts involved in such practices. In a recent post on X, Musk stated, “Any accounts found engaging in engagement farming will be suspended and traced to the source.” Engagement farming refers to the practice of seeking increased engagement on social media platforms. For instance, individuals may join multiple Twitter spaces simultaneously without contributing meaningful content, solely to boost their visibility. This method is commonly employed by users to garner more followers, likes, comments, and retweets, thus enhancing their personal brand.…

Telegram, the messaging giant founded by Pavel Durov and headquartered in Dubai, anticipates hitting a remarkable milestone of one billion active monthly users within the next year.  Durov’s departure from Russia in 2014, prompted by governmental pressures to stifle opposition communities on his VK social media platform, underscores Telegram’s commitment to neutrality despite geopolitical challenges. With 900 million active users currently, Telegram stands as a beacon of free speech in the digital realm, particularly influential in former Soviet Union republics and pivotal during conflicts like the Russia-Ukraine standoff. Durov’s staunch advocacy for freedom of expression and opposition to censorship by…

In a move aimed at redistributing wealth and targeting the education of the economically disadvantaged, the Student Loan Scheme in Nigeria will exclude students from private tertiary institutions, as announced by NELFUND CEO Mr. Akintunde Sawyerr. The decision to exclude private institution students stems from socio-economic factors, including perceived wealth associated with attending private institutions and concerns about equitable access for students in public universities. Funded by one percent of the revenue generated by the Federal Inland Revenue Service (FIRS) annually, the scheme will provide funding for tuition fees and stipends for daily living expenses based on the applicant’s course…

Snap Inc. has announced plans to implement watermarks on AI-generated images within its platform.  These watermarks will feature a translucent version of the Snap logo accompanied by a sparkle emoji. The decision aims to address concerns surrounding the authenticity and ownership of AI-generated content. Users exporting images from the app or saving them to their camera roll will see the watermark automatically applied. The move comes as part of Snap’s broader efforts to enhance transparency and safety surrounding AI technologies. It follows similar initiatives by other tech giants, including Microsoft, Meta, and Google, who have also implemented measures to label…

Tesla has allocated $200,000 for advertising on Elon Musk’s social media platform, X.  The decision follows shareholder pressure and signals a shift towards more traditional marketing avenues. Since the announcement, Tesla ads have appeared on platforms like Google and YouTube, indicating a strategic investment in online visibility. The annual proxy statement released by Tesla sheds light on the financial transactions between Tesla and Elon Musk’s other ventures. Apart from advertising expenses, Tesla has engaged in various agreements with X, including commercial, consulting, and support agreements, totaling $80,000 through February 2024. Similarly, SpaceX, another venture of Musk, has conducted transactions with…

LinkedIn, the professional networking platform, has begun testing a new paid service aimed at small and medium-sized businesses.  Dubbed the Premium Company Page, this subscription offers features like AI-powered content creation and tools to boost follower engagement. With prices starting at $99 per month, LinkedIn aims to provide businesses with enhanced visibility and credibility. The move highlights LinkedIn’s ongoing efforts to diversify its revenue streams and provide more value to its users. By offering tailored services like the Premium Company Page, LinkedIn seeks to establish itself as a trusted platform for professionals and businesses alike. The Premium Company Page subscription…

In response to mounting concerns over the relentless surge in prices of goods and services, the Federal Competition and Consumer Protection Commission (FCCPC) has vowed to intervene and shield consumers from exploitation. Despite the recent strengthening of the Naira against the dollar, consumers are still grappling with escalating costs without any corresponding reduction in prices. According to a statement released by Adamu Abdullahi, the Executive Vice Chairman/ Chief Executive Officer of the FCCPC, the commission is deeply troubled by this trend and is determined to address it effectively. The FCCPC, guided by the provisions of the Federal Competition and Consumer…

In a recent update on Nigeria’s economic outlook, the International Monetary Fund (IMF) has forecast a gradual decrease in inflation rates.  The surge in inflation to 33.2 percent in March, attributed to exchange rate adjustments and economic reforms, is expected to decline to 23 percent next year and further to 18 percent in 2026. Despite the improvement, these rates remain elevated compared to previous forecasts. The IMF cited the impact of exchange rate adjustments on import costs and other goods as driving factors behind the inflation spike. Nigeria’s National Bureau of Statistics confirmed the inflation surge, particularly in food prices,…

Elon Musk, the founder of the microblogging platform X, has unveiled plans to implement charges for new users when they post on the social media platform.  Musk cited the necessity of this measure to counter the persistent presence of bots on the platform. Addressing inquiries about X’s policy for newly created accounts, Musk emphasized that imposing a nominal fee on new users is crucial in tackling the ongoing issue of bot activity. According to Musk, new users will gain free posting privileges after a three-month period. He stated, “Unfortunately, a small fee for new user write access is the only…