Tech

Qualcomm is expanding beyond smartphone chips into the automotive sector, showcased by its Snapdragon Ride Pilot system co-developed with BMW. The Level 2+ autonomous driving system, debuting in the BMW iX3, allows hands-free driving on certain roads. Qualcomm CEO Cristiano Amon anticipates significant interest from other automakers seeking to license the technology, heralding it as a potential “domino effect.” Qualcomm projects $8 billion in automotive revenue by 2029, driven by its comprehensive, integrated platform for autonomy and its strategic partnerships.

Klarna, the BNPL giant, priced its IPO at $40 per share, valuing the company at $15 billion. It raised $1.37 billion and will list on the NYSE as “KLAR.” The IPO reflects cautiously optimistic sentiment towards tech listings, despite economic uncertainty and competition. Klarna is expanding beyond BNPL to become a digital retail bank. While the company reported a recent net loss, revenue grew 20% year-over-year. $1.17 billion of the IPO proceeds will go to shareholders, and $200 million will go to the company.

Oracle’s stock surged 28% after hours following its earnings call, driven by optimistic forward-looking projections for its cloud infrastructure business and new AI deals. Analysts were “blown away” by the anticipated 77% revenue increase in cloud infrastructure. Oracle also announced multi-billion-dollar contracts, including a collaboration with OpenAI to develop data center capacity and a substantial increase in remaining performance obligations, signaling strong future revenue. The company’s strategic focus on technology and networking, rather than owning data center buildings, also contributed to the positive outlook.

Apple has strategically adjusted iPhone pricing, increasing the iPhone 17 Pro’s starting price to $1,099 and introducing the iPhone 17 Air at $999. These changes address escalating input costs and tariff challenges, despite supply chain diversification. To offset the price increase, base iPhone 17 models now offer 256GB of storage. While the standard iPhone 17 and Pro Max prices remain stable, storage upgrades still boost revenue. Apple maintains consistent pricing for AirPods and Apple Watch, reinforcing brand value.

Google Cloud’s CEO Thomas Kurian says the division is already profiting significantly from AI investments. At a recent conference, Kurian outlined monetization strategies including consumption-based pricing for AI infrastructure (GPUs, TPUs, models via “tokens”) and subscription models for services like cybersecurity and Google Workspace. Upselling to higher-priced AI tiers also contributes to revenue growth. Google Cloud’s customer commitment backlog is at $106 billion, and it secured a $10 billion cloud contract with Meta. Cloud revenue grew 32% year-over-year in the latest quarter.

Oracle shares surged after hours due to optimistic growth projections driven by new cloud contracts, overshadowing slight earnings and revenue misses. Q1 revenue rose 12% to $14.93 billion. Remaining Performance Obligation skyrocketed 359% to $455 billion, fueled by deals like OpenAI’s 4.5 gigawatt data center agreement. Oracle is leveraging AI, integrating Google’s Gemini, and launching Oracle AI Database. Cloud infrastructure revenue grew 55%. Oracle projects significant revenue growth through 2030, with substantial capital expenditure increases planned.

Gemini, the crypto exchange founded by the Winklevoss twins, has received a $50M strategic investment from Nasdaq ahead of its IPO this week. Nasdaq aims to provide custodial services for financial institutions engaging with crypto, leveraging Gemini’s infrastructure. Gemini will become a key distribution partner for Nasdaq Calypso. This move follows Nasdaq’s SEC filing for tokenized stock trading, demonstrating a broader embrace of digital assets by traditional finance and aiming to maximize Gemini’s valuation. Gemini held over $21 billion in assets as of July.

Microsoft is mandating employees return to the office at least three days a week, reversing its pandemic-era remote work policy. Starting in February, the policy will first affect employees near the Redmond headquarters before expanding. Microsoft’s CHRO cites the need for in-person collaboration to drive innovation, particularly in AI development, as the reason for the change. The move raises questions about employee satisfaction and may be an effort to optimize real estate and foster community. This decision tests whether Microsoft can balance in-person collaboration with employee flexibility.

The UAE’s Mohamed bin Zayed University of Artificial Intelligence (MBZUAI) introduced K2 Think, a compact reasoning model challenging OpenAI and DeepSeek. Developed with G42, K2 Think utilizes 32 billion parameters and Alibaba’s Qwen 2.5, achieving competitive benchmark results in math and science. MBZUAI emphasizes its focus on scientific advancements, aiming to accelerate research with limited resources. This development underscores the UAE’s ambition to become a key player in the global AI landscape, joining the US and China in the race for AI innovation.

GAC Group is aggressively expanding into the European EV market, showcased by the Aion V at the IAA Mobility show. The company aims for a 17-fold sales increase within two years, projecting 50,000 units by 2027. GAC showcased its Aion V and UT all-electric models and intends to introduce a plug-in hybrid. Despite EU tariffs, GAC plans to establish local manufacturing in Europe to enhance market responsiveness and reduce tariff impact, reflecting their long-term commitment to the region. Chinese EV brands are rapidly increasing market share in Europe.