Warren Buffett Bets Big on Snowflake

Warren Buffett’s Berkshire Hathaway has taken a big interest in the cloud-based data platform company Snowflake, Inc.

A COVID-19 Winner

The video-conferencing company Zoom Video Communications (NASDAQ: ZM) continues to stand out after becoming a staple in many people’s everyday lives when the coronavirus pandemic hit. And the proof is in the numbers — early this week, the company reported a revenue increase of 355%.

Airlines Are Facing the Harsh Reality

American Airlines (NASDAQ: AAL) said it plans on laying off or involuntarily furloughing 19,000 of its employees as of October 1. This plan could change as long as the airline is able to receive assistance from Congress.

The Artificial Intelligence Revolution

The next big revolution is already here. The artificial intelligence revolution is here and is expected to grow at a CAGR of 42.2% in the next seven years. It’s already bringing major innovations to some of the biggest industries like agriculture.

Could Microsoft Buy TikTok?

The Trump administration wants to ban the social media app TikTok over allegations the app poses a national security threat. Since then, there has been talk of Microsoft (NASDAQ: MSFT) purchasing the app from its Chinese parent company, ByteDance.

A Big E-Commerce IPO

The Austin, Texas-based e-commerce company BigCommerce is expected to go public next week on Wednesday, August 5. 

Jeff Bezos Is Only Getting Richer

This week, Amazon’s (NASDAQ: AMZN) CEO Jeff Bezos got even richer. On Monday, he added $13 billion to his net worth. He is now worth $189.3 billion and is on track to becoming the first trillionaire by 2026. So you could definitely say, coronavirus pandemic or not, Amazon continues to thrive.

Apple Software Company Set to Go Public

Jamf Holdings, a cloud software platform that allows you to connect and manage Apple devices, has announced that it’s expecting to go public on Thursday, July 23 and aims to raise $272 million to $304 million from its IPO.

Uber Buys Postmates

On Monday, Uber (NYSE: UBER) bought food-delivery startup Postmates for $2.65 billion. At the start of the COVID-19 pandemic, Uber realized it needed to push its business towards profitability and growth. With its Uber Eats division increasing by 53% in the first quarter of 2020, the obvious direction in which to go was the food-delivery market.

Advertisers Are Boycotting Facebook

On Monday, Facebook shares fell close to 3% in early trading but eventually rebounded. The list of advertisers abandoning the site continues to grow. Some big companies, like Starbucks (NASDAQ: SBUX), Coca-Cola (NYSE: CCEP), and Hershey’s (NYSE: HSY), announced they would be pausing their advertising spending on the social media platform.

Robots Are Helping Health Care

Health care robots are becoming more of a reality rather than just some idea of the “future.” According to a report by Zion Market Research, by 2025, global medical robot expenditures are expected to increase by approximately 20% to reach $24.6 billion.