Benzinga
Coinbase Bows Down To Macro Headwinds, To Let Go Of 950 Employees
Coinbase Global, Inc (NASDAQ: COIN) disclosed a restructuring plan letting go of 950 employees, helping it reduce its operating expenses by 25% amid the crypto meltdown.
Coinbase looks to incur $149 million – $163 million in total restructuring expenses, consisting of $58 million – $68 million in cash charges related to employee severance and other termination benefits.
Taiwan Semiconductor Manufacturing Company Ltd’s (NYSE: TSM) December revenue of NT$192.56 billion declined 13.5% month-over-month. The revenue grew by 23.9% Y/Y.
Revenue for January through December 2022 totaled NT$2.26 trillion, up by 42.6% Y/Y.
TSMC’s Q4 revenue grew 43% Y/Y to NT$625.5 billion ($20.6 billion), marking its first quarterly revenue miss in two years, signaling the global decline in electronics demand is starting to catch up with the chip giant. TSMC’s Q4 revenue missed the consensus of NT$636 billion.
Microsoft Said To Be Discussing $10B Investment In ChatGPT Owner As Part Of Complex Deal
Microsoft Corporation (NASDAQ: MSFT) is reportedly negotiating a $10 billion investment in OpenAI — ChatGPT’s large language chatbot owner.
The funding, supported by other venture firms, would value OpenAI at $29 billion, people familiar with the matter told the news website Semafor.
There is no clarity if the deal has been finalized, but documents sent to prospective investors show that it targeted a close by the end of 2022.
Pfizer Rebuts Generic Version Of COVID-19 Oral Treatment In China, Says It Not A Poor Country
Pfizer Inc (NYSE: PFE) CEO Albert Bourla rebuffed reports saying the company is in talks with Chinese authorities to license a generic version of its Covid-19 treatment Paxlovid.
Bourla speaking at JPMorgan’s healthcare conference, said, “We are not in discussions. We have an agreement already for local manufacturing of Paxlovid in China. So we have a local partner that will make Paxlovid for us, and then we will …
