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Alibaba to double R&D spending to USD 15 bln, with eye towards 'moonshot' projects

2017-10-11 09:16:00| Telecompaper Headlines

(Telecompaper) Alibaba said it will be doubling its R&D spend over the coming three years to USD 15 billion in order to develop next-generation technology and explore moonshot projects aimed at upending industries, Bloomberg reported. Alibaba plans to set up seven research labs and hire 100 scientists around the world to push further into artificial intelligence, the Internet of Things and quantum computing, the company said in an emailed statement. Specific fields include machine learning, visual computing and network security.

Tags: double projects eye usd


Dell unveils new USD 1 bln IoT division

2017-10-11 08:35:00| Telecompaper Headlines

(Telecompaper) Dell Technologies has announced a new Internet of Things (IoT) division designed to integrate existing products and tools across the company and develop new Internet-connected devices and software. To that end, the company revealed plans to spend USD 1 billion on IoT-focused research and development over the next three years. The new division will be led by VMware CTO Ray O'Farrell, and is tasked with orchestrating the development of IoT products and services across the Dell Technologies family, including units such as units such as Dell EMC, VMware, RSA and Pivotal.

Tags: dell division usd unveils


Roku prices IPO at top of price range, raises USD 219 mln

2017-09-28 08:30:00| Telecompaper Headlines

(Telecompaper) Roku has priced its IPO at the high end of the indicated price range, raising in total USD 219 million. The 15.7 million shares were priced at USD 14 each, the top of the USD 12-14 price range. 

Tags: top price range prices


Baidu's iQiyi looking for USD 8-10 bln valuation in IPO

2017-09-26 09:22:00| Telecompaper Headlines

(Telecompaper) IQiyi, the streaming site of Baidu, hopes to stage its initial public offering in the US early next year, Bloomberg reported, with sources saying the company is looking for a valuation of at least USD 8 billion, and up to USD 10 billion. They added however that the IPO is still in the early stages and the final valuation could change.

Tags: usd ipo valuation bln


Telia settles Uzbekistan corruption case for USD 965 million

2017-09-22 08:47:00| Telecompaper Headlines

(Telecompaper) Telia announced it's reached a settlement with US and Dutch authorities over their investigation into bribery at Uzbekistan operator Ucell. The company agreed to pay a total of USD 965 million to put an end to the scandal. 

Tags: case million usd uzbekistan


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