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It's not just about the OpenAI and Anthropic game-day ads — football's biggest event is even being powered by AI technology
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The Nasdaq Composite is on pace for its worst week since November despite Friday's rebound.
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Amazon shares fall as it joins Big Tech AI spending spree BBCAmazon stock falls 8% on $200 billion spending forecast, earnings miss CNBCAmazon: Stock to Avoid or Once-in-a-Decade Buying Opportunity? Yahoo FinanceAmazon's $200 Billion Spending Plan Raises Stakes in A.I. Race The New York TimesAmazon's Cloud Liftoff The Information
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Plus, Sage rolls out AI enhancements for reporting, AP, sales; Datarails launches Spend Control solution for contract visibility.
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Europe Accuses TikTok of ‘Addictive Design' and Pushes for Change The New York TimesTikTok charged for breaching EU rules with app's addictive features ReutersTikTok could be forced to change app's ‘addictive design' by European Commission The GuardianEU's Latest Tech Crackdown Puts It on Collision Course with the US BloombergEU warns
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Asian Stocks to Fall as US Tech, Crypto Extend Dip: Markets Wrap bloomberg.comV-plunge and recovery in another volatile Asia session, JP election this weekend FXStreetUS Equity Indexes' Sell-Off Deepens as Risk-Off Sentiment Grips in Final Leg of Trading marketscreener.com[Live from the Asian Market] Almost all assets have experienced significant volatility! After silver plummeted by 20%, it is still searching for a bottom, while Bitcoin once tested the $60,000 level. ????
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Contemporary Amperex Technology Co. Ltd. reported quarterly net income well short of analyst estimates as the global slowdown in electric vehicle sales starts to bite.
While net income for the third quarter ended Sept. 30 rose 26 percent to 13.1 billion yuan ($1.8 billion) versus the same period last year, that was a lot lower than the 14.7 billion yuan expected. Revenue shrank 12.5 percent to 92.3 billion yuan year-on-year, sharply down on projections for 118.4 billion yuan.
The world's largest maker of EV batteries is being hit as automakers from General Motors to Ford begin to scale back EV production plans and delay model launches. Countries like Japan and Germany, home to some of the largest automotive incumbents, have seen not just a slowdown in the growth rate, but an outright decline in EV sales.
CATL supplies many big name carmakers, including Tesla Inc.
Although the Chinese giant dwarfs competitors, it isn't alone in feeling the pain. The world's third largest battery maker, South Korea's LG Energy Solution Ltd., is likely to suffer its third consecutive quarterly profit decline, its most recent preliminary earnings show.
For the January to August period, CATL's global market share stood at 37.1 percent, up 1.6 percentage points on the same period of last year, data from SNE Research show. LG Energy's market share shrunk 2.3 percentage points to 12.1 percent.
CATL's greater control over its supply chain does at least wring more profit from its suppliers, helping to drive down costs. Bloomberg Intelligence has suggested that more global EV makers adopting cheaper lithium-iron-phosphate (LFP) batteries could help CATL gain market share overseas. The company's energy-storage business is also emergin
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