Amazon increased revenue by 7 percent to $121.2 billion in the second quarter, beating analyst expectations and sending the stock soaring 12 percent despite a $2 billion loss. That contrasts with a $7.8 billion profit for the same period last year. The loss was due in part to Amazon’s investment in the electric car company Rivian, whose value has plunged this year. “Despite continued inflationary pressures in fuel, energy, and transportation costs, we’re making progress on the more controllable costs we referenced last quarter, particularly improving the productivity of our fulfillment network,” said Amazon CEO Andy Jassy. Continue reading Amazon Reports Online Sales Are Down While Revenue Is Up

China’s troubled Tsinghua Unigroup chip conglomerate is about to get an $800 million infusion from Taiwan’s Foxconn in the consumer electronics giant’s bid to expand its electric vehicle activity. Battery-powered cars generally require more semiconductors than those that run on gas, and analysts say Tsinghua Unigroup is attractive to Foxconn — which makes everything from iPhones to Xboxes — for its mobile chipset and memory expertise. In 2021, Foxconn secured a deal with U.S. automotive startup Fisker to jointly manufacture electric cars with automotive chips Foxconn plans to develop with Stellantis. Continue reading Taiwan’s Foxconn to Invest $800 Million in Chinese Chip Firm

Taiwanese semiconductor giant GlobalWafers wants to invest $5 billion to construct a state-of-the-art 300-millimeter silicon wafer factory in Sherman, Texas, but only if Congress can fund the CHIPS for America Act, which passed in January 2021 and has been promised $52 billion but sits with an empty purse. The new GlobalWafers factory would be the first of its kind in the U.S. in 20 years and is expected to create 1,500 jobs. GlobalWafers president Mark England says if government incentives are not unleashed soon the company will “pivot to South Korea.” Continue reading GlobalWafers Ties Proposal for Texas Foundry to CHIPS Act

Twitter’s tumbling stock price has spectators second-guessing Elon Musk’s motives in demanding more information for the acquisition deal to proceed. The billionaire’s “best and final” offer of $54.20 per share is now looking like a rich deal for Twitter, which has been hovering at about $38 per share. The Twitter board is understandably intent on keeping the $44 billion offer and $1 billion breakup fee in place, even as Musk tweeted ““this deal cannot move forward” until he sees proof of the company’s claim that spam and bots account for less than 5 percent of users. Continue reading Stock Volatility at Twitter and Tesla Roil Musk’s Buyout Plans

Flowcopter is said to be creating the world’s first gas-fueled drone, with a flight range of hundreds of miles, potentially spanning hours. Current drones rely on battery power or electrical recharging. While the consensus is that battery technology is advancing rapidly, and will someday permit lightweight, long-range travel in drones and other vehicles, fossil fuels currently provide denser sources of energy with less weight and at lower cost. The reasons there are no gas-fueled quadcopters to date is their engines aren’t as precisely controllable as are electric motors. But Flowcopter feels it has overcome that. Continue reading Flowcopter Says Its Hybrid Drone Can Fly 6 Hours, 500 Miles

Meta Platforms released its Q4 earnings on February 2, at which time several media outlets have become quite exercised over the fact that the company’s flagship social media platform, Facebook, reported that daily and monthly active users were “1.93 billion on average” and “2.91 billion,” respectively, in both Q4 and Q3, i.e., “flat,” as in zero growth. While sequential quarterly analysis can be a useful metric, it is more relevant when analyzing startups. For mature companies, a year-over-year analysis that compares like quarters is the Wall Street norm. Launched in 2004, Facebook turns 18 this year. Continue reading Meta’s Future Pondered as Facebook Matures, Growth Slows

The U.S. “must reinvent the machinery of government itself, just as much as any piece of transportation equipment,” U.S. Secretary of Transportation Pete Buttigieg said Thursday in his CES speech on the Future of Transportation. “Innovation isn’t about the technologies themselves, but how we deliver transportation resources cost-effectively and quickly,” Buttigieg said, sharing his vision for an Advanced Research Projects Agency for Infrastructure, “ARPA-I, modeled after DARPA” (the Defense Department ARPA that invented the Internet) as required in an era in which mobile connectivity and transportation are becoming inextricably intertwined. Continue reading CES: Buttigieg Says Tech Calls for New Government Thinking

General Motors chair Mary Barra outlined a future of zero emission EVs and emphasized the Ultifi software platform to keep GM drivers connected during her virtual CES keynote that centered on the 2024 Chevrolet Silverado EV and ended with futuristic Cadillac concept vehicles including air transport. She predicts 50 percent of GM’s factory production in North America and China will be all-electric by 2030 and that the company will deliver personal autonomous vehicles “as soon as the middle of this decade.” Helping GM’s more immediate plan to lead EV market share are Chevy’s 2023 Equinox and Blazer EV SUV models. Continue reading CES: GM Chief Details Ambitious EV and Autonomous Plans

Sony raised the curtain on its smart car efforts at CES 2022, where CEO Kenichiro Yoshida announced the company will this spring “commercially launch” Sony Mobility, to “redefine” the automotive experience. Yoshida — who managed to upstage “Spider-Man: No Way Home” star Tom Holland at Sony’s CES podium — wheeled out a new SUV prototype for its Vision-S EV model. The first Vision-S was introduced at CES 2020. The presentation also featured Sony’s virtual production tools, specs and features of an upcoming VR headset for the PS5, and new alliances between video game properties, sports and other entertainment media. Continue reading CES: Sony Showcases Mobility Future, VR2 for PS5 Features

Intel laid claim to the ‘world’s best mobile gaming platform’ with its 12th generation Alder Lake H-series GPUs at CES 2022, then shifted to overdrive to focus on autonomous driving, introducing its Mobileye EyeQ Ultra, AV-on-chip supercomputer offered as a full-stack AV driving solution. Intel in December announced plans to spin off Mobileye in an IPO sometime this year and used its CES press conference stage to demonstrate it is prepared to deliver, announcing a partnership with Zeekr to create all-electric AVs for the Chinese market, due to roll off the assembly line in 2024. Continue reading CES: Intel on AV Overdrive, Touts Fastest Mobile Game Chip

According to CTA vice president of research Steve Koenig’s “Tech Trends to Watch” presentation at CES in Las Vegas, developments in 2022 will emerge from the transportation, space tech, sustainable technology and digital health sectors. Innovations will include electric vehicles, micro-mobility solutions and space tourism as well as alternative power sources, smart cities and homes and, in digital health, an increased use of wearables as well as an emphasis on solutions for mental health. Last year also saw historic highs of consumer demand in a wide variety of sectors. Continue reading CES: CTA’s Research VP Steve Koenig on ‘Trends to Watch’

Apple is accelerating its plans to enter the self-driving car market, with 2025 the new target date to launch a fully automated electric vehicle that the company is hoping to produce without steering wheel or pedals, although an emergency takeover mode is under discussion. Interior designs under consideration are said to look radically different than today’s cars, with u-shaped or side-facing seating configurations. Apple’s secretive car venture, known as Project Titan, is being led by technology vice president Kevin Lynch, who was instrumental in the success of the Apple Watch. Continue reading Apple Eyes an Earlier Launch Date for Its Self-Driving Vehicles

The $1.2 trillion infrastructure bill that made it to President Biden’s desk Friday for upgrades to the nation’s roads, bridges, pipes and ports also includes $65 billion to “ensure every American has access to reliable high-speed Internet.” Building high-speed networks in unserved areas and making broadband affordable for low-income families are priorities for an administration in pursuit of digital equity. The White House estimates 30 million U.S. households don’t have access to reliable Internet, a problem heightened by the need to learn and work at home during the COVID-19 pandemic.  Continue reading Federal Infrastructure Plan Includes $65 Billion for Broadband

Tesla valuation shot up to $1 trillion on news that Hertz ordered 100,000 vehicles for delivery by the end of 2022. The purchase is anticipated to favorably affect Tesla consumer sales as rental drivers are able to essentially test-drive Tesla electric cars. Over the past year Tesla stock has more than doubled, and the $1 trillion valuation puts it in an elite class of companies including Apple, Microsoft, Amazon and Alphabet whose market caps exceed $1 trillion. Facebook in June crossed the $1 billion valuation mark only to fall below during September and October selloffs. Continue reading Tesla Value Pushes Past $1 Trillion with News of Hertz Order

Foxconn Technology Group, best known for assembling Apple iPhones, will acquire Taiwan chipmaker Macronix International for approximately $90.8 million (T$2.52 billion) to boost its entry into the electric vehicle (EV) market. Foxconn earlier announced plans to assemble cars for EV startup Fisker and team up with Stellantis, manufacturer of Jeep and Chrysler, to develop in-car software. Macronix’s six-inch wafers are made of silicon carbide, regarded as preferable for tasks such as fast charging. Continue reading Foxconn Has Plans for Expansion, Buys Chipmaker Macronix