Here are the top trending news from the world of technology. Bringing you the five biggest breaking news from the world of technology and tech-business during the last 24 hours.
1)
Tesla remains unstoppable. Elon Musk’s company’s profit surges over $3Bn during first quarter
Since last one year the global auto industry has been plagued by supply chain problems. But Elon Musk’s company Tesla has been least bothered by this problem. The company has announced a whopping $3Bn profit during the first quarter of 2022. Tesla declared the profit on the back of a solid revenue earning, which stood at nearly $18.7Bn. This is almost an 81% increase on year-on-year basis. While announcing the quarterly results, Musk also announced that Tesla also aspires to mass robotaxis by 2024. For all those who don’t know, robotaxis are self-driving and driverless vehicles
2)
Coinbase launches NFT marketplace platform with hopes to revive its business
Major crypto exchange platform Coinbase’s stocks have been tanking down since last few months. Simply because the market remains less optimistic about its business prospects. Amid these tough conditions, Coinbase has just entered in the NFT marketplace. Coinbase’s NFT marketplace is currently operating in a beta stage. The NFT marketplace is likely to offer all the standard features that most other marketplace offers. But the Coinbase might have entered the NFT marketplace a bit too late. The space is already marked with intense competition with the presence of big players like Binance, FTX and Opensea. More importantly, the NFT hype seems to have cool down. This is clearly reflected in the declining sale of NFTs during last few months.
We’d also like to remind our viewers that Coinbase had launched its operation in India barely a week ago. However, its launch in Indian market did not start on a good note. Coinbase was forced to suspend crypto trading on UPI platform after NPCI took an objection on it.
3)
It’s official: Apple will soon have its first ever trade union in the U.S
Since last few days there have been rumors that Apple’s retail employees are making efforts to form a trade union body. Now these rumors have almost been confirmed. Latest media reports claim that workers at an Apple store in Atlanta have filed for an union election to form a trade union body. This marks a historic moment for Apple’s workers as this will be officially Apple’s first-ever trade union body. Earlier this month Amazon warehouse workers in Staten Island had also formed Amazon’s first-ever trade union body. It is worth noting that big tech companies have always faced allegations of treating blue collar workers unfairly.
4)
Elon Musk’s hyperloop company raises $675Mn
Elon Musk’s hyperloop company The Boring Company has raised $675 Mn at a valuation of $5.6 Bn. The company now plans to expand its workforce in engineering, operations and production to scale up the loop projects. By the way, hyperloop received a major setback earlier this year when Richard Branson’s company Virgin Hyperloop gave up on its dream to transit human passengers. Virgin Hyperloop said that in future it will only focus on transiting cargos. However, Elon Musk’s hyperloop company has so far not given up on transiting passengers.