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Microstrategy Stock MSTR Soars 1,620% — Outshining Bitcoin, S&P 500, and the Magnificent 7

<div>Microstrategy Stock MSTR Soars 1,620% — Outshining Bitcoin, S&P 500, and the Magnificent 7</div>Microstrategy’s stock, MSTR, has soared 1,620% since the company adopted a bitcoin-centered strategy, far outpacing bitcoin itself, the S&P 500, and tech giants such as Nvidia. The company’s bitcoin holdings now exceed 252,000 BTC. Microstrategy’s executive chairman, Michael Saylor, remains bullish about bitcoin’s price as his company plans to further boost its BTC investments. Microstrategy’s […]

Bitcoin ‘diamond hand’ sell-off risks outpacing ETF inflows at $98K

Mastercard Partners With Amazon to Digitize Payment Acceptance

Mastercard Partners With Amazon to Digitize Payment AcceptanceMastercard and Amazon Payment Services have partnered to digitize payment acceptance in the Middle East and Africa. Under the partnership, Amazon will adopt Mastercard’s single touchpoint for payment processing across 40 markets, enabling faster, more secure transactions for merchants. Expanding Payment Acceptance Mastercard, a U.S. multinational payment card services firm, has partnered with Amazon Payment […]

Bitcoin ‘diamond hand’ sell-off risks outpacing ETF inflows at $98K

America should learn from the optimism of HODLing

History is littered with failed predictions about the future of technology. Have we learned anything along the way?

HODLing — an acronym that means "hold on for dear life" — is built on the long-term optimism that has been the driving force behind technological advancements that have forced us into modernity. It's time to take that embrace of crypto culture a step further. We should make HODLing the default American position on all technology.

Americans tend to be optimistic on general terms, but that quickly gives way to pessimism in the specific. Just a decade ago, 78% said they would not eat lab-grown meat. Today? The number has nearly flipped, with 60% now indicating a willingness to try it.

Another example of Americans being generally optimistic about technology, but pessimistic about long-term effects is the widespread belief that self-driving vehicles will become commercially available within their lifetime. One 2021 survey by the Pew Research Center found that 63% of Americans believe that fully self-driving cars will be common within the next 50 years, but they are hesitant about actually riding in one.

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Bitcoin ‘diamond hand’ sell-off risks outpacing ETF inflows at $98K

California removes teeth from AI law without addressing tech’s core concerns

The law appears more corporate-friendly, but the implications for consumers are a bit murkier.

California lawmakers have amended a controversial bill that would hold artificial intelligence firms accountable for harms caused by their products in response to industry criticism. However, it’s unclear if the state’s concessions will be enough to convince naysayers in the tech industry. 

The bill, called the Safe and Secure Innovation for Frontier Artificial Intelligence Models Act (SB-1074), essentially seeks to protect whistleblowers and empower the state of California to intervene if it has reason to believe an AI-related catastrophe is going to occur.

As Cointelegraph recently reported, the tech industry is in a bit of an uproar over the bill’s stipulations, with many tech luminaries saying it would stifle innovation and growth. 

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Bitcoin ‘diamond hand’ sell-off risks outpacing ETF inflows at $98K

Amazon faces UK merger probe over $4B Anthropic AI investment

Microsoft and OpenAI face similar scrutiny as Europe and the UK seek to identify the line between investment and acquisition.

Amazon and artificial intelligence research firm Anthropic are being investigated as a de facto merger in the United Kingdom. 

The UK’s Competition and Markets Authority (CMA) issued a formal notice on Aug. 8 announcing the inquiry’s commencement. According to documentation published on the UK government website, this marks the beginning of a “phase 1” investigation.

As Cointelegraph previously reported, UK authorities announced they were conducting preliminary investigations into partnerships between Amazon and Anthropic, Microsoft and Mistral AI, and Microsoft and OpenAI to determine whether any of the relationships had run afoul of EU regulations.

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Bitcoin ‘diamond hand’ sell-off risks outpacing ETF inflows at $98K

German quantum breakthrough highlights need for particle physicists in crypto

German quantum breakthrough highlights need for particle physicists in crypto

Breakthrough quantum computing research out of Germany could lead to a revolution in particle physics with implications for finance, economics, and cryptocurrency. It might be time for firms in the crypto industry to add chief science officers and particle physicists to their portfolios. 

Much like the tech industry before it, crypto has bootstrapped itself on the virtue of its own feats of engineering and innovation. The engineering and innovation it took to invent blockchain and cryptocurrency are, arguably, analogous to the advent of personal computing and the internet.

Over the past 20 years, however, the tech industry has shifted towards hard science. Perhaps it’s time for crypto to follow suit.

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Bitcoin ‘diamond hand’ sell-off risks outpacing ETF inflows at $98K

Nvidia delays next gen AI chip as investors issue ‘bubble’ warning

After briefly breaking the $3 trillion market capitalization mark in June, things have taken a negative turn for the world’s most valuable chipmaker.

Nvidia’s highly anticipated “Blackwell” B-200 artificial intelligence chip will reportedly be delayed, sending the near-term future of the entire AI industry into a state of uncertainty. 

Tech news outlet The Information claims that a Microsoft employee and at least two other people familiar with the situation have stated that the new chip’s launch date has been pushed back by at least three months due to a design flaw.

While Nvidia hadn’t given a public launch date, CEO Jensen Huang recently announced that the company would begin sending engineering samples “this week” on July 31 at the SIGGRAPH event in Denver, Colorado.

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Bitcoin ‘diamond hand’ sell-off risks outpacing ETF inflows at $98K

Skild AI announces $300M funding from Jeff Bezos, Softbank to build ‘robot brains’

Another unicorn has entered the race the develop human-level AI.

Artificial intelligence firm Skild AI recently emerged from stealth to report the successful closing of a $300 million series A funding round featuring participation by Jeff Bezos and Softbank among others.

Skild AI is a Carnegie Mellon spinout focused on building an AI system capable of being retrofitted to various machines and robotics devices called a “general-purpose brain.”

According to a company blog post, the funding was raised at a valuation of $1.5 billion and was led by Lightspeed Venture Partners, Coatue, SoftBank Group, and Jeff Bezos (through Bezos Expeditions). It also featured participation from Felicis Ventures, Sequoia, Menlo Ventures, General Catalyst, CRV, Amazon, SV Angel, and Carnegie Mellon University.

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Bitcoin ‘diamond hand’ sell-off risks outpacing ETF inflows at $98K

Big Tech produced more carbon since 2019 than all Bitcoin mining ever

U.S. tech firms made huge commitments to “net zero” carbon emissions — but that was before ChatGPT hit the scene.

Big Tech’s carbon footprint continues to balloon as generative artificial intelligence products and services proliferate, with Amazon alone producing more carbon dioxide emissions per year than all the Bitcoin mining in the world. 

According to the data, Big Tech has released more carbon dioxide into the atmosphere since 2019 — when most of the largest U.S. tech firms began disclosing their emissions — than Bitcoin has since 2014.

It’s virtually impossible to calculate the exact amount of carbon dioxide produced by Bitcoin operations throughout the globe. To the best of our knowledge, no research team has access to power grid usage and cost data from all the countries involved in Bitcoin mining.

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Bitcoin ‘diamond hand’ sell-off risks outpacing ETF inflows at $98K

Bitcoin would need to hit $93K to flip Silver right now

Silver’s market cap has risen to over $500 billion larger than Bitcoin, despite the cryptocurrency flipping the precious metal just two months ago.

Silver has staged an impressive comeback against Bitcoin (BTC) this year, surpassing the cryptocurrency as the 8th largest asset by market cap after losing its position in March.

The world’s second most valuable metal has rallied 33.4% since Bitcoin reached a record $73,737 on March 14, while Bitcoin has retraced 9.5%, according to CoinGecko.

As a result, Silver’s market cap of $1.83 trillion is now $500 billion more than Bitcoin’s, which is currently at $1.31 trillion, according to Companies Market Cap — meaning Bitcoin would need to rally 40% to $93,000 to flip Silver’s current market cap (if all else remains equal.)

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Bitcoin ‘diamond hand’ sell-off risks outpacing ETF inflows at $98K