losses
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US sanctions firm linked to cyber scams behind $200 million in losses
The U.S. Treasury Department has sanctioned Funnull Technology, a Philippines-based company that supports hundreds of thousands of malicious websites behind cyber scams linked to over $200 million in losses for Americans. Funnull facilitated virtual currency investment scams (also known as romance baiting and pig butchering) by buying IP addresses in bulk from various cloud service providers. The company sold these…
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Productivity gains, strong financial returns, but no job losses – three things investors want from generative AI
Investors are making it clear what they want from generative AI: solid financial and productivity returns, but no job cuts. That’s according to a survey of AI investors by PwC, which found three-quarters of respondents believed generative AI would be beneficial for the companies they’ve backed. And six-in-ten investors polled said they expect not only revenue growth but also increased…
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Intel’s CHIPS Act grant reduced as production delays and losses mount – Computerworld
Investment delays and strategic setbacks The funding reduction comes as Intel pushes back the timeline for completing its Ohio chip manufacturing project from 2025 to the end of the decade. The delay, coupled with persistent challenges in matching the technological advancements of rivals like Taiwan Semiconductor Manufacturing Company (TSMC), has dampened confidence in the company’s ability to deliver on its…
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