Microsoft is making a $10-billion investment over several years in OpenAI, the pioneering artificial intelligence research lab behind ChatGPT.
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The rand weakened early on Monday, as power utility Eskom extended scheduled electricity cuts.
US technology stocks are about to hit their next hurdle when earnings season gets under way in the coming week: vanishing profits.
Google parent Alphabet is eliminating about 12 000 jobs, or 6% of its workforce, the company said on Friday.
South Africa’s main stock exchange will probably continue haemorrhaging listings, the CEO of A2X said in an interview.
Microsoft plans eliminate 10 000 jobs and take a $1.2-billion charge as its cloud computing customers dissect their spending.
Microsoft plans to cut thousands of jobs with some roles expected to be eliminated in human resources and engineering divisions, according to media reports.
The rand slumped on Monday as investor concerns mounted over a power crisis that prompted President Cyril Ramaphosa to cancel a trip to Davos.
Tencent shares have nearly doubled from a recent low on growing signs that China is preparing to end its crackdown on major tech firms.
Microsoft is reportedly in talks to invest $10-billion into OpenAI, the owner of ChatGPT, which will value the San Francisco-based firm at $29-billion.