Connect with us

Big Data

Aeva announces customer deal; shares soar even after results disappoint

Published

on

By Stephen Nellis

(Reuters) – Aeva Technologies Inc said on Thursday it signed a deal to develop a sensor for a self-driving car to be made by an “undisclosed large company,” and its shares rose 13% even as it reported that its loss ballooned and sales came in far below forecasts.

Aeva reported first-quarter revenue of $300,000, down from $500,000 a year earlier and far below analysts’ estimate of $1.38 million, according to Refinitiv estimates. Its adjusted operating loss more than doubled to $15.6 million from $6.1 million a year ago.

Founded by two ex-Apple Inc engineers, Aeva makes a sensor that helps self-driving cars navigate through the use lidar technology that uses lasers, much like radar uses radio waves. The company became publicly traded through a reverse merger earlier this year and was one of several lidar firms to do so.

Aeva said on Thursday it had signed a “foundational agreement with an undisclosed large company to develop best-in-class lidar” for the customer’s autonomous driving program.

Aeva’s shares were up 13% at $8 in after-hours trading after the results and customer announcement.

In an interview, Aeva Chief Executive Soroush Salehian said the company could not disclose when it would go into mass production with the undisclosed customer but that “there’s going to be increased activity as we work toward production.

“This has a huge potential,” he said, “and based on what we know, it could be one of the largest programs in the industry.”

Aeva has deals with automotive suppliers Denso Corp and ZF Friedrichshafen AG to mass-manufacture its sensors.

Earlier this week, the company said it added to its advisory board Apple senior executive Steve Zadesky and Volkswagen AG Senior Vice President Alex Hitzinger, who was also once part of Apple’s self-driving car Project Titan. Porsche Automobil Holding SE, Volkswagen’s majority voting shareholder, is also an investor in Aeva.

(Reporting by Stephen Nellis in San Francisco; Editing by David Gregorio and Richard Chang)

Image Credit: Reuters

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://datafloq.com/read/aeva-announces-customer-deal-shares-soar-even-results-disappoint/14656

Big Data

Cruise operator Carnival discloses personal data breach, shares down

Published

on

(Reuters) -Cruise operator Carnival Corp said on Thursday it had detected unauthorized access to its computer systems in March, after which it alerted regulators and hired a cybersecurity firm to investigate the breach.

The company, whose shares were down over 2%, noticed the suspicious activity on March 19 and acted quickly to “to shut down the event and prevent further unauthorized access”, it said in an emailed statement.

The breach affected personal information of some guests, employees and crew for Carnival Cruise Line, Holland America Line, Princess Cruises and medical operations, Carnival said.

“There is evidence indicating a low likelihood of the data being misused,” the company added.

Miami-based Carnival also said it alerted individuals whose data had been compromised and set up a call center to respond to their queries.

Technology news portal Bleeping Computer first reported the breach.

The disclosure from the company comes at a time United States has witnessed a spate of increasingly bold cyberattacks on critical infrastructure.

A ransomware attack on Colonial Pipeline last month temporarily stalled one of the country’s major arteries for fuel delivery. Meatpacker JBS USA’s operations were disrupted earlier this month due to a cyberattack.

Carnival was also hit by a ransomware attack last year, which affected the information technology systems of one of its brands.

(Reporting by Niket Nishant in Bengaluru;Editing by Vinay Dwivedi)

Image Credit: Reuters

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://datafloq.com/read/cruise-operator-carnival-discloses-personal-data-breach-shares/15568

Continue Reading

Big Data

Apple awards grants for computer chip courses to historically Black schools

Published

on

By Stephen Nellis

(Reuters) – Apple Inc said Thursday it will give $5 million to four historically Black universities to help expand their engineering programs for designing the chips that power electronic devices.

Apple said the $5 million will be spread across Alabama A&M University, Howard University, in Washington, D.C., Morgan State University, in Baltimore, and Prairie View A&M University, in Texas, over three years. The money comes from Apple’s broader racial justice initiative, which it announced last year with $100 million in initial funding.

The grants will support each school’s engineering departments and seek to focus expanding course work in fields like computing architecture and designing chips. The money will also support fellowships and internships in hardware technologies, Apple said.

Apple custom designs many of the chips in its flagship devices, including central processors in its Mac computers and iPhones and special chips in its AirPods headphones that help them work smoothly with other Apple devices.

“We know many jobs of the future will be in innovative areas like silicon engineering and we want to help ensure the leaders of tomorrow have access to transformational learning opportunities,” Lisa Jackson, Apple’s vice president of environment, policy and social initiatives, said in a statement.

(Reporting by Stephen Nellis in San Francisco; Editing by Dan Grebler)

Image Credit: Reuters

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://datafloq.com/read/apple-awards-grants-computer-chip-courses-historically-black-schools/15567

Continue Reading

Big Data

U.S. senators propose 25% tax credit for semiconductor manufacturing

Published

on

By David Shepardson

WASHINGTON (Reuters) -A bipartisan group of U.S. senators on Thursday proposed a 25% tax credit for investments in semiconductor manufacturing as Congress works to increase U.S. chip production.

The proposal sponsored by Senate Finance Committee Chairman Ron Wyden and the top Republican on the panel, Senator Mike Crapo, along with Senators Mark Warner, Debbie Stabenow, John Cornyn and Steve Daines, would provide “reasonable, targeted incentives for domestic semiconductor manufacturing,” they said in a statement.

The group did not immediately provide a cost estimate for the measure, which is on top of recent proposed semiconductor funding. Last week, the Senate approved $52 billion for production and research on semiconductors and telecommunications equipment. That included $2 billion dedicated to chips used by automakers, which have seen massive shortages and made significant production cuts. The House of Representatives must still act on the measure.

Supporters of funding note the U.S. share of semiconductors and microelectronics production has fallen to 12% from 37% in 1990.

The senators said up to 70% of the cost difference for producing semiconductors overseas results from foreign subsidies.

“The United States can’t allow foreign governments to continue to lure companies’ manufacturing overseas, increasing risks to our economy and costing American workers good-paying jobs,” Wyden said.

U.S. Commerce Secretary Gina Raimondo said last month the funding could result in seven to 10 new U.S. semiconductor plants.

Raimondo anticipates government funding would generate “$150 billion-plus” in investment in chip production and research – including contributions from state and federal governments and private-sector firms.

The tax credit could benefit Taiwan Semiconductor Manufacturing Co (TSMC), which is building a $12 billion semiconductor factory in Arizona, and Dutch chipmaker NXP Semiconductors NV as well as U.S. firms such as Intel Corp and Micron Technology Inc.

The Semiconductor Industry Association praised the proposal, saying it said would “strengthen domestic chip production and research, which are critical to U.S. job creation, national defense, infrastructure, and semiconductor supply chains.”

(Reporting by David Shepardson, Editing by Franklin Paul, Cynthia Osterman and Jonathan Oatis)

Image Credit: Reuters

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://datafloq.com/read/us-senators-propose-25-tax-credit-semiconductor-manufacturing/15566

Continue Reading

Big Data

Exclusive: Chinese apps could face subpoenas or bans under Biden order – sources

Published

on

By Karen Freifeld

(Reuters) – U.S. President Joe Biden’s executive order aimed at safeguarding Americans’ sensitive data would force some Chinese apps to take tougher measures to protect private information if they want to remain in the U.S. market, according to people familiar with the matter.

The goal is to keep foreign adversaries like China and Russia from gaining access to large amounts of personal and proprietary business information.

The U.S. Department of Commerce may issue subpoenas to collect information about certain smartphone, tablet and desktop computer software applications. Then the agency may either negotiate conditions for their use in the United States or ban the apps, according to people familiar with the matter.

Biden’s June 9 order replaced President Donald Trump’s 2020 bans against the popular Chinese applications WeChat, owned by Tencent Holdings Co, and ByteDance Ltd’s TikTok. U.S. courts halted those bans.

U.S. officials share many of the concerns Trump cited in his order banning TikTok, according to one person familiar with the matter. Notably, they fear that China could track the locations of U.S. government employees, build dossiers of personal information for blackmail and conduct corporate espionage.

The new order could end up capturing more apps than the final Trump orders because of a stronger legal framework. Reuters is the first to report details on how the Biden administration plans to implement the order, including seeking support from other countries.

    U.S. officials have begun speaking with allies about adopting a similar approach, one source said. The hope is that partner countries will agree on apps that should be banned.

U.S. Commerce Secretary Gina Raimondo will decide which apps to target for U.S. action, but they must meet certain criteria. For instance, they must be owned, controlled or managed by a person or entity that supports the military or intelligence activities of a foreign adversary such as China or Russia.

WECHAT, TIKTOK MAY BE REVIEWED

If Raimondo decides an app poses an unacceptable risk, she “has the discretion to notify the parties” directly or publish the information in the government’s official daily publication, the Federal Register, a Commerce Department spokesman said.

    Companies will then have 30 days to object or propose measures to secure data better, the Commerce spokesman said.

Apps from China are most likely to find themselves in the Commerce Department’s crosshairs given escalating tensions between Washington and Beijing, the Chinese government’s ability to exert control over companies and the number of Chinese apps used by Americans. 

    WeChat, TikTok and eight other apps targeted by the Trump administration in its last months are eligible for review by Biden’s team, one source said.

    The Trump targets also included Ant Group’s Alipay mobile payment app, WeChat Pay, Tencent Holdings Ltd’s QQ Wallet, Tencent QQ, CamScanner, SHAREit, VMate published by Alibaba Group subsidiary UCWeb and Beijing Kingsoft Office Software’s WPS Office.[L1N2JG2H2]

    Some of the apps named by Trump have serious data protection issues, while it’s unclear why others pose a heightened risk to national security, according to another person familiar with the matter.

The order will apply to business apps, including those used in banking and telecommunications, as well as consumer, the first source said.

Meanwhile apps linked to other adversaries like Iran or Venezuela are already blocked under broader sanctions.

(Reporting by Karen Freifeld; Editing by Chris Sanders and Cynthia Osterman)

Image Credit: Reuters

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://datafloq.com/read/exclusive-chinese-apps-could-face-subpoenas-bans-biden-order-sources/15565

Continue Reading
Esports1 day ago

World of Warcraft 9.1 Release Date: When is it?

Aviation5 days ago

Delta Air Lines Flight Diverts To Oklahoma Over Unruly Off-Duty Flight Attendant

Aviation4 days ago

Spirit Airlines Just Made The Best Argument For Lifting LaGuardia’s Perimeter Rule

Esports3 days ago

Clash of Clans June 2021 Update patch notes

Blockchain4 days ago

Africa Leading Bitcoin P2P Trading Volume Growth in 2021

Aviation4 days ago

Boeing 727 Set To Be Turned Into Luxury Hotel Experience

Gaming4 days ago

Forza Horizon 5 Announced, Launches November 9

Big Data3 days ago

In El Salvador’s bitcoin beach town, digital divide slows uptake

Blockchain5 days ago

Ripple price analysis: Ripple retests $0.80 support, prepares to push higher? 

HRTech3 days ago

Pre-Owned Luxury Car dealer Luxury Ride to add 80 Employees across functions to boost growth

Blockchain5 days ago

Binance Is Launching a Decentralized NFT Platform

Blockchain3 days ago

Since It Adopted Bitcoin As Legal Tender, The World Is Looking At El Salvador

Blockchain5 days ago

Digital turns physical: Top NFT galleries to visit in-person in 2021

Blockchain5 days ago

Dogecoin Breaches More Demand Zones as Sellers Threaten To Short Further

Blockchain2 days ago

Former PayPal Employees Launch Cross-Border Payment System

Energy2 days ago

XCMG dostarcza ponad 100 sztuk żurawi dostosowanych do regionu geograficznego dla międzynarodowych klientów

Aviation4 days ago

Delta Air Lines Airbus A320 Returns To Minneapolis After Multiple Issues

Blockchain5 days ago

DeFi Deep Dive — Avalanche, DeFi in Under a Second

Blockchain5 days ago

Litecoin price analysis: Litecoin price ready to challenge the $160 mark despite bearish pressure

Gaming4 days ago

Her Story Creator’s Next Game is Immortality, Releases in 2022

Trending