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If you’ve been keeping up with the news regarding emerging technology such as generative artificial intelligence , you’re likely already aware of popular services such as ChatGPT and Meta AI. While these models have been disrupting the tech space for the last few years, one relative newcomer, DeepSeek, has recently made major waves and completely shifted the cultural perspective on the financial and computational requirements of artificial intelligence. Per reports, DeepSeek showcases a nearly identical generative capability when compared to GPT-4o, despite costing a fraction of the price to develop. Within days of hitting the American market, DeepSeek has decimated multiple major stock prices for companies including Nvidia, Microsoft and Meta. The headline-grabbing service has left investors and general consumers alike scrambling to catch up, asking questions about how this is all possible. Since DeepSeek is receiving such massive attention, now seems like as good a time as any to...
As American social media users brace for the Jan. 19 TikTok ban , thousands have begun searching for alternative apps to satiate their doom scrolling fix. While many American-based tech CEO’s such as Mark Zuckerberg had hoped that the TikTok ban would encourage users to flock to other short-form video players such as Instagram or YouTube Shorts, it seems that the masses have stumbled onto an unknown gem called Xiaohongshu instead. The app, which translates to RedNote in English, is owned by a Shanghai-based company known as Xingyin Information Technology, and touts itself as a lifestyle, social networking and e-commerce service . Given that RedNote primarily serves a Chinese audience, it defaults to Mandarin upon download, and exposes new users to an audience of hundreds of millions of overseas subscribers. The sudden influx of so-called “TikTok refugees” has caused RedNote to skyrocket in popularity, taking it to the number one position among the free apps chart on both the Apple...
It could be the end of an era for budget-friendly travel — at least for now. On Monday, Nov. 18th, low-fair flight company Spirit Airlines confirmed that they’ve filed for bankruptcy protection after making efforts to cut costs all around. Some of their recent steps have included selling 23 Airbus jets and delaying future aircraft deliveries. Sadly, Spirit has also had to furlough hundreds of pilots with plans to cut additional staff in January. In their filing, they confirmed 13,000 full-time and part-time employees, plus 8,000 independent contractors and temporary workers. Things might look dire now, but as CNN notes, American Airlines , United and Delta have all gone bankrupt within the last 25 years, only to bounce back stronger on the other end of negotiations and hard work. What We Know About Spirit Airlines’ Bankruptcy So Far Photo Credit: Forsaken Films / Unsplash CNN cites, “ mounting losses, unaffordable debt, increased competition for bargain-seeking airline passengers...
Whether you’re satisfied with the results of the 2024 presidential election or not, the only option now that the votes are in is to accept that situation and move forward with grace and confidence. Throughout their campaign for the White House, both Kamala Harris and Donald Trump had celebrities endorsing them to help persuade the public. The former relied on Megan Thee Stallion’s bodacious body and a co-sign from Barack Obama, while Trump’s support from figures like Elon Musk and Joe Rogan could be what gave him the winning edge. The South African pledged his allegiance to the Republican candidate following the assassination attempt made on his life in July; per Barrons , Musk was one of the president-elect’s biggest donors for his third campaign, spending more than $130 million supporting Trump and others in his political party. Considering he’s the richest man in the world, dishing out this money to help his friend was nothing for the Twitter CEO, who’s only stood to benefit...
Wall Street day traders found themselves shocked and confused last week when Reddit’s stock price climbed to heights of 58 percent, surpassing the expectations of even the most liberal investors on r/WallStreetBets. The social media site , which is primarily used for sharing opinions, discussing niche topics and delivering daily news to millions of user-generated in-groups, reported $348.4 million in Q3 revenue according to data on Yahoo Finance . While these sky-high figures would be a bit surprising to most financial analysts, they were especially shocking to Wall Street insiders , who were reportedly planning to short the RDDT stock based on their expectation that the site would lose money during the most recent earnings report . In order to understand why and how the Reddit stock was able to surpass expectations, we’ll have to take a brief look at what’s changed in the site’s business model in recent months, watch similar stocks such as META and NVDA, and study the industry...
Super Micro Computer’s ( SMCI ) stock dropped nearly 30% on Wednesday, Oct. 30, after the AI server maker’s auditor resigned. Ernst & Young (EY) resigned while auditing Super Micro’s fiscal year ending June 30, 2024, according to Yahoo Finance. The move comes after Hindenburg Research released a brief report in August alleging “accounting manipulation” at Super Micro. “We are resigning due to information that has recently come to our attention, which has led us to no longer be able to rely on management’s and the Audit Committee’s representations and to be unwilling to be associated with the financial statements prepared by management,” EY stated in its resignation letter. The accounting firm added that it can no longer provide audit services in compliance with “applicable laws or professional obligations.” In August, Hindenburg stated that its three-month investigation uncovered “glaring accounting red flags, evidence of undisclosed related party transactions, sanctions and export...
Not everyone is an investor. But thanks to platforms like Public and Robinhood , you do not have to have a degree in economics or work at Goldman Sachs to get in on the stock market action. Once reserved for only the most savvy of analysts and the wealthiest of investors, the playing field is far more level — at least in terms of accessibility. However, having access to opportunities and knowing what to do with them are two very different stories. In particular, there is something known as the Fear and Greed Index (developed by CNN) and it directly impacts how successful one can trade traditional stocks or even crypto currencies like Bitcoin. So, if traders are ready to dabble those toes into the stock market, crypto, or both, keep on reading to learn about this critical tool. What Is The Fear And Greed Index? Whether a person is trading crypto or traditional common stocks , the Fear and Greed Index is a trading tool that helps decide when to jump into a commodity, when to hold it...
As an innovator of the culture as we know it today, Pharrell has racked up quite the collection over the years. Now, the 49-year-old entertainer says everything must go in an exclusive auction of some of his most personal valuables. “My business manager was like, ‘Hey, at this point, you have 11 different storage units,'” said Pharrell in an interview with Financial Times. He has keepsakes that include everything from a leather jacket featuring “Women’s Rights” across the front to a gold-plated Blackberry.
The Harvard Business Review and The Wharton School of the University of Pennsylvania have produced studies that show more equitable spaces lead to greater productivity levels. And, while places like StockX already seem to have a healthy set of work already happening led by team members that contribute to an equitable culture, there’s still always room for improvement. On May 10, it was announced that Damien Hooper-Campbell has been appointed as the first-ever Chief Impact Officer at StockX, in an effort to build on the work that’s already been done.
Tiffany James is ensuring financial literacy will be accessible to Black women. As AfroTech previously told you, the 27-year-old is the founder of Modern Blk Girl (MBG). The digital platform was created to ensure minority women have a safe space to be themselves and learn about the stock market. For James creating MBG stemmed from her Caribbean upbringing in which financial literacy was nonexistent. It was not until the age of 21 that James became more conscious of how stocks could transform her ways of living. In fact, after investing in various stocks including Tesla she turned $10,000 into two million within three years. “If I had the knowledge I have now about financial literacy when I was younger, a lot of things could have been different for me. One experience that I went through is not having money for simple things like high school prom, senior trip, and a cap and gown but if I knew I could invest in Apple my junior or senior year I would have been fine,” James told...
On March 29, 2022, Gamestop stock ground to a halt on the NYSE. TheStreet reports that stock exchange officials ordered that the popular stock — along with the equally popular, and meme-able, AMC stock — stop its trading on Wall Street, based on the fact that the stocks were trading at a higher-than-usual volume and their prices were fluctuating to the point of volatility. This move, according to the outlet, could result in the successful stock-taking an unprecedented nose dive. “GameStop was last seen trading 6.1% lower on the session at $178.00 each, a move that would still leave the stock up 41% over the past month, while AMC fell as much as 12% before trading 2.1% into the red at $28.80 each,” reports the outlet. This bit of news could come as shock to investors, who may have been under the impression that the stock would rally amidst growing reports of their new NFT marketplace. With this in mind, we decided to put together a brief primer for everything you need to know about...
Business has been booming in the world of non-fungible tokens (NFTs), but lawsuits have been filed over them as of late. On Feb. 3, Nike sued StockX, an online marketplace, for selling unauthorized NFTs of Nike sneakers, according to Reuters. According to the outlet, the federal complaint includes that the actions of StockX started in January of selling over 500 Nike-branded NFTs with “inflated prices and murky terms of purchase and ownership.” “Nike did not approve of or authorize StockX’s Nike-branded Vault NFTs,” the complaint reads. “Those unsanctioned products are likely to confuse consumers, create a false association between those products and Nike, and dilute Nike’s famous trademarks.” Nike is also accusing StockX of telling buyers they would be able to redeem the tokens for physical versions of the shoes “in the near future.” The sneaker giant’s intent for filing the lawsuit is for StockX to no longer sell or promote its Vault NFTs that use its trademarks, as well as for...
Salehe Bembury seems to be coming for the “Designer of the Year” title once again, as he nearly broke the Internet with his latest collaboration. As previously reported by AfroTech, last year was a celebratory one for Versace’s Vice President of Sneakers & Men’s Footwear, since he was named the 2020 Designer of the Year by Footwear News for bringing the fashion brand to the forefront of the sneaker scene. Now, Salehe Bembury may just have had one of the most anticipated footwear releases of 2021. View this post on Instagram A post shared by Salehe Bembury (@salehebembury)