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Elon Musk Changes Twitter Logo to Shiba Inu Causing Dogecoin to Jump 30 Percent

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Elon Musk Changes Twitter Logo to Shiba Inu Causing Dogecoin to Jump 30 Percent

Dogecoin cryptocurrency increased by over 30% on Monday after Twitter CEO Elon Musk changed the blue bird on his company’s website with a Shiba Inu, the digital coin’s logo.

On Friday, lawyers for Twitter and Musk asked a federal court to dismiss a $258 billion lawsuit from 2022 that accused Musk of manipulating the price of Dogecoin and driving it up by more than 36,000%.

Musk posted a meme about the change to his 133.5 million Twitter followers after changing the Twitter logo to a Shiba Inu image. The dog showed only for some Twitter users, including those on the company’s website. Twitter did not reply to a comment request.

Musk has been promoting Dogecoin for several years. He regularly tweets about the token, created as a joke in 2013, creating predictable volatility each time. Dogecoin is the eighth-most valued cryptocurrency, with a market cap of more than $13 billion, according to CoinMarketCap.com.

In a court filing Friday, Musk’s lawyers characterized his public statements about the coin as “innocuous and frequently silly tweets.”

However, Musk’s public support for the coin extends beyond social media comments. Tesla and SpaceX are two of Musk’s other businesses.

elon musk twitter

Two of Musk’s other companies, Tesla and the Boring Company, are named in the lawsuit.

Tesla announced in December 2021 that it would take Dogecoin for some merchandise. Musk stated on Twitter then that Tesla would “see how it goes.”

Following that post, the price of Dogecoin increased by more than 20%. When Musk declared on Twitter in January 2022 that Dogecoin payments were now available, the cryptocurrency rose by up to 15%.

Tesla does have digital assets, including bitcoin, on its books, and it still takes Dogecoin as payment for some merchandise.

“We have not sold any of our Dogecoin,” Elon Musk said last year during an earnings conference. “We have it still.”

Musk has stated that he directly owns Dogecoin.

In a recent tweet, Musk wrote “Dogecoin” in response to a picture of himself next to News Corp. Chairman Rupert Murdoch.

elon musk twitter

What’s Elon Musk’s name doing in the source code for Twitter’s algorithm?

Meanwhile, Elon Musk describes it as “weird” that his name was discovered in Twitter’s algorithm source code alongside designations such as “Democrat” or “Republican.”

Elon Musk responded to questions about the platform’s source code being released on GitHub on Friday.

During a Twitter Spaces event, two users pointed out that Musk’s name had been coded into Twitter’s recommendation algorithm, which explicitly labeled whether Musk had authored a tweet.

“I think it’s strange,” Musk said. “By the way, this is the first time I’ve heard of it.”

A branch of Twitter’s algorithm revealed that the platform not only recognized whether Musk wrote a tweet but also labeled tweets based on whether the user was a “Democrat,” “Republican,” or “power user.” The code segment has since been removed from GitHub.

“What’s going on, guys?” Musk asked Twitter engineers in the conversation.

During the meeting, Brian Wichers, a senior engineering manager at Twitter, stated that the specific categories were added to the algorithm about ten years ago and are “not overly important in how it’s used throughout the code base.”

Another Twitter engineer on the call clarified that the code is only used for monitoring and to “make sure we don’t bias toward one group versus another,” not for “special treatment.”

 

Musk stated that the code was an example of something the business should eliminate immediately.

“It definitely shouldn’t be dividing people into Republicans and Democrats. That makes no sense,” Musk said. “That’s why I prefaced this that there will be a ton of stupid, embarrassing things,” he added.

On Friday, Twitter published the code determining which tweets appear in a user’s For You timeline. Musk has been saying for months that he will increase transparency by open-sourcing the code of the social media site. On Twitter on Friday, the billionaire stated that the release reflected “most of the recommendation algorithm” and that the remainder would be released in the future.

Musk has previously criticized Twitter’s code and stated during his Twitter Spaces appearance that the business will change its code based on recommendations from outside engineers on GitHub.

Twitter explained how the algorithm determines which tweets to feature in a blog entry explaining the choice to release the code. According to the company, it has a three-step process that gathers the best tweets from “different recommendation sources,” ranks them using a “machine learning model,” and filters out blocked tweets, inappropriate tweets, or posts the user has already seen.

It’s not the first time that questions have been raised about Musk’s material being promoted on Twitter. Platformer reported in February that the billionaire had fired a Twitter engineer after the employee told him his popularity was dwindling on the site and had assigned engineers to investigate why his tweets were receiving fewer views after his tweet during Super Bowl Sunday received less engagement than President Joe Biden’s. According to the publication, Twitter engineers briefly gave Musk’s tweets an “artificial boost”.

Musk appeared to recognize his increased exposure on the site at the time, posting a meme about his tweets, and later stated that the company would be making additional changes to the algorithm.

Platformer revealed last month that Musk was not the only user benefiting from an artificial boost. According to the publication, Twitter has an internal Twitter list of 35 users established to monitor how algorithm changes affected the site’s most popular users but have since evolved into a list of people who receive preferential treatment on the platform.

With over 133 million followers, Musk is the most followed Twitter user.

Geoff Thomas is a seasoned staff writer at VORNews, a reputable online publication. With his sharp writing skills and deep understanding of SEO, he consistently delivers high-quality, engaging content that resonates with readers. Thomas' articles are well-researched, informative, and written in a clear, concise style that keeps audiences hooked. His ability to craft compelling narratives while seamlessly incorporating relevant keywords has made him a valuable asset to the VORNews team.

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Meta, Mark Zuckerberg’s Project, Gets Better with a Cool New AI Model.

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Meta
Reuters

(VOR News) – The most recent version of Meta AI, which was created by Mark Zuckerberg and is accessible on social media platforms that are under the authority of the business, is now capable of accomplishing a great deal more than you might have thought it was able to accomplish in the past.

You might have assumed that it was capable of accomplishing anything, but this is a considerable advance over that perception. It is possible that you did not believe that it would be able to complete this particular duty.

What are your thoughts on this?

TechCrunch reports that Meta’s AI-powered assistant has recently been upgraded with a plethora of improvements, one of which being the introduction of the new “Imagine Yourself” generative AI model.

Meta recently updated its assistant, so we made this update.

All members of the general public have access to this most recent update. This upgrade for the assistant was just recently implemented with the purpose of enhancing the functioning of the helper.

On the other hand, what precisely is the new AI model capable of doing, and how does it operate when it makes use of its capabilities?

“The new generative AI model in Meta AI is the driving force behind a new feature that enables the option to make attractive selfies,” TechCrunch reports.

“This new feature enables users to create selfies that are captivating.” In response to the introduction of the new functionality, this feature was developed. The function was developed, as indicated by the information that is presented here.

It is possible for the Imagine Yourself model to make use of an image of a specific person in order to accomplish the goal of delivering visuals of that person.

The phrase “Imagine me” followed by anything that is not regarded to be “not safe for work” (NSFW) is an example of a prompt that can be used to prompt the model. In addition to that, this prompt can be utilised to prompt the respective model.

Imagine Yourself is currently accessible in beta form; however, Meta has not revealed the data that was used to train this artificial intelligence model.

This is despite the fact that the beta version is currently available. This is in spite of the fact that the model was informed by the data throughout its training.

According to TechCrunch, the terms of service for the company make it abundantly clear that any public posts or images that are affiliated with its platforms are open to scrutiny by the general public. This has been stated in the company’s terms of service.

This Meta information was obtained from this source.

Furthermore, Meta AI is providing new editing tools that simplify the process of adding, removing, amending, or adjusting things by applying easy prompts.

These tools are included in the company’s offerings. The availability of these instruments will not be difficult. Within a short period of time, these tools will be made available for offline download.

Within the following month, a completely new button that will be referred to as “Edit with AI” will be introduced. More options for fine-tuning the editing process will be made available to you when you click this button. Users will have the ability to access this button within the system.

Additionally, Meta has announced that within the next few days, users will have access to new shortcuts that will enable them to contribute images generated by Meta AI to feeds, articles, and comments across all Meta applications.

This initiative is expected to take place within the next few days. By virtue of the fact that Meta AI will be able to produce these photographs, this will be feasible. The abbreviated form of these shortcuts will be available to users for their convenience.

SOURCE: GN

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TSMC exceeded profit projections due to strong demand for AI chips.

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TSMC
Photo: The Yomiuri Shimbun (AP)

(VOR News) – During the second quarter of the fiscal year 2024, Taiwan Semiconductor Manufacturing Company (TSMC) recorded sales of $20.82 billion, which was higher than the estimates provided by analysts.

This is a forty percent improvement over the same time period the previous year. Over the same period of time in the previous year, the Taiwanese chipmaker posted earnings of NT$247.85 billion, which is equivalent to $7.6 billion.

This is a 36% increase. According to FactSet, analysts had expected that the company would take in a net income of NT$236.4 billion, which is equivalent to $7.3 billion, during the second quarter of 2024. This figure exceeded that forecast.

This represents a thirty percent increase when compared to the previous year, when the company declared a profit of eight hundred and eighteen billion NTD. This year, the share price of TSMC has climbed by almost 70 percent.

Apple relies on TSMC as a semiconductor manufacturer, and the company has an exclusive partnership with NVIDIA, a company that manufactures chips for artificial intelligence research and development.

Every consumer wants their electronic devices to be equipped with artificial intelligence capabilities, as stated by C.C. Wei, chief executive officer of TSMC.

The artificial intelligence market is currently dominated by TSMC.

I made this statement while I was having a discussion with analysts. He continued by stating that he anticipated that production will reach capacity by the year 2025 or 2026, but that supply would continue to be difficult to come by beyond then.

“I also attempted to achieve a balance between supply and demand, but I am unable to do so at this time,” he explained to reporters. As a result of the extremely high demand, I had to put in a lot of effort in order to fulfill the requirements of my clients.

The Taiwan-listed shares of the chipmaker experienced a decline of 2.43% by the time trading on Thursday came to a conclusion.

As a result of the demand from its customers, which include Apple and Nvidia, TSMC predicted in April that its revenues for the second quarter may increase by as much as thirty percent, which was a figure that exceeded the expectations.

In order to surpass the initial expectations, it increased its sales projections for the second quarter from $19.1 billion to between $19.6 billion and $20.4 billion between those two numbers.

In addition, TSMC made the announcement that it would continue to adhere to its plans to invest up to 32 billion dollars this year, the majority of which will be allocated to the development of innovative technology.

TSMC announced in June that their net revenue for the month of May increased to seven billion dollars, representing a thirty percent increase between the previous year and the current year.

The income of the company for the months of January through May climbed by 27% compared to the same period in the previous year.

This was despite a 2.7% decline from April for TSMC.

C.C. Wei, chairman and chief executive officer of TSMC, repeated past forecasts that the semiconductor industry, excluding the memory sector, will climb by 10% this year, with artificial intelligence being the primary driver of this growth.

Chip markets around the world, including those of TSMC, experienced a decline in the early hours of Wednesday as a result of comments made by former President Donald Trump that were critical of Taiwan and rumors that the administration of Vice President Joe Biden was purportedly considering imposing more stringent trade restrictions.

By the time the market closed, the shares of TSMC that are listed in Taiwan had experienced a decrease of 2.4%.

It has been claimed that the administration of Vice President Joe Biden is mulling over the idea of imposing an export embargo known as the foreign direct product rule on allies such as Japan and the Netherlands in the event that these countries continue to provide China advanced chipmaking technology.

SOURCE: QZ

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Nokia’s shares fell 8% after reporting its lowest quarterly net sales since 2015.

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Nokia
(Photo by Xavi Torrent/Getty Images)

(VOR News) – On Thursday, shares of Nokia, a Finnish telecom business, dropped after the company disclosed a decline in its operational profit for the second quarter that was around 32 percent lower than the previous quarter.

We were able to attribute this reduction to the fact that there was a dearth of demand for the 5G equipment that Nokia was producing.

By the time the market opened at nine o’clock London time, the stock of the business that is listed in Helsinki had already experienced a decline of eight percent.

Today, Nokia reported a comparable operating profit of $462 million.

This value was reported by the company. When compared Nokia to the 619 million euros that were recorded for the same period of time in the previous year, this implies a loss of roughly a third more than what was stated.

Data provided by LSEG indicates that the firm reported a decline in its net sales of 18%, bringing the total to 4.47 billion euros.

This Nokia represents the lowest level of net sales attained since the fourth quarter of 2015. This decline was attributed to “ongoing market weakness” by the corporation at the time of the decline.

“The most significant impact was the challenging comparison period from the previous year, which saw the peak of India’s rapid 5G deployment, with India accounting for three quarters of the decline,” Mr. Pekka Lundmark, CEO of Nokia, remarked in the announcement of the results. “The most significant impact was the challenging comparison period.”

Continuing along the same lines, he emphasized that the landscape in the mobile networks business continues to be “challenging as operators continue to be cautious.”

In spite of this, Nokia forecasts that the business situation will become “stabilizing” and that there will be a “significant acceleration in net sales growth in the second half” of the year. The order intake that was seen in the most recent quarter served as the basis for these forecasts.

According to the company’s CEO, “though the dynamic is showing signs of improvement, the recovery of net sales is occurring somewhat later than we had anticipated, which will have an effect on our business group’s net sales assumptions for the year 2024.”

Despite the fact that this has taken place, we are still well on our approach to fulfilling our full-year target, which is further supported by the early action that we have taken addressing cost.

The business continues to strive for a result that is either near to or slightly below the midpoint of its comparable operating profit prediction for the entire year, which ranges from 2.3 billion to 2.9 billion euros.

Nokia’s founders set this goal for the company.

AT&T, the largest telecommunications company in the United States, made the decision to select Ericsson as the provider for the construction of a telecom network that is completely based on a technology known as ORAN at the end of the previous year.

A severe blow was handed to Nokia by this decision, as the company had previously been awarded a significant contract in the North American market.

Both the Finnish company and its Swedish competitor, Ericsson, have initiated strong cost-cutting initiatives in the midst of an industry-wide fight against a slowing economy and infrastructure expenditure cuts from mobile carriers. Ericsson is a Swedish company that competes with the Finnish company.

The revelation that Nokia will be cutting off as many as 14,000 employees came in October, following the company’s realization that it had experienced a major decline in profitability during the third quarter.

By the year 2026, the company intends to achieve a reduction in its gross expenses of between 800 million and 1.2 billion euros within the time frame.

The business made the announcement on Thursday that it had made “significant progress” on its entire cost reduction program and that it had implemented actions with the goal of cutting expenses by a total of 400 million euros up to this time.

SOURCE: CNBC

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