IBM fires over 3,900 employees, Microsoft bets $10 billion in ChatGPT, World’s first Shariah-compliant metaverse launches and more
Another week, another round of devastating job cuts as technology giant IBM laid off nearly one percent of its workforce, impacting nearly 4,000 employees. Despite the company's efforts to meet its annual cash targets, analysts believe the layoffs were a result of its failure to do so.
On a more positive note, tech giant Microsoft confirmed its multi-billion dollar investment into OpenAI, the company behind cutting-edge language model ChatGPT. This major investment highlights the growing interest and significance of advanced artificial intelligence in today's technological landscape.
Closer to home, we saw the launch of the world's first-ever Shariah-compliant metaverse.
Read on to get a lowdown of all the big news This Week in Tech!
Global tech giant IBM will cut around 3,900 jobs, which is slightly more than one percent of its workforce, as a result of a recent divestment and missing its annual cash targets.
In statement shared with international media, Chief Financial Officer James Kavanaugh said that the company was still “committed to hiring for client-facing research and development”.
Microsoft has confirmed a new multiyear, multi-billion estment in ChatGPT-maker OpenAI.
The tech giant has not provided a specific dollar amount, but recent industry reports earlier this month noted Microsoft was in talks to invest as much as $10 billion.
The agreement signifies the next step in the collaboration between the two firms.?
IBF Net has launched Netverse, the world’s first metaverse on the Algorand blockchain, which is also the world’s first Shariah-compliant metaverse on any blockchain.
Netverse is expected to be a major contributor to the digitalisation move in the Islamic world.
For more tech-related news and insights, check out ITP.net.