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Here's the latest tech news from the last 24 hours:

🐦 Twitter's controversial acquisition of the @X handle
📊 Google and Microsoft report heavy AI and cloud growth
🌐 Meta, Microsoft, and Amazon launch open-source mapping initiative
⚡ Major automakers launch a large-scale EV charging network

🐦 Twitter's controversial acquisition of the @X handleLINK

The owner of the @x Twitter handle, Gene X Hwang, confirmed that his account was taken over without warning or financial compensation by the company now known as X, following its rebranding from Twitter.

The rebranding process of Twitter to X involved several mishaps, including failure to secure intellectual property rights to the “X” brand and changing signage without permission, in addition to the @x handle mishandling.

While Hwang was offered X merchandise and a tour of the company's HQ as appreciation, he received no financial compensation for the handle, despite the typical value of such in-demand online usernames in secondary marketplaces.

📊 Google and Microsoft report heavy AI and cloud growthLINK

Alphabet's and Microsoft's quarterly results indicate that their shares have diverged, with Alphabet's stock increasing around 6% while Microsoft's declined by more than 3.6%.

Despite varying product lines and economic conditions, both tech giants show high costs in maintaining leadership in the AI sector, with revenues from AI-related work starting to accumulate but mainly projected for future growth.

Both companies have made substantial investments in AI hardware, particularly in building data centers to handle AI computational workloads, evidenced by Alphabet's development of AI supercomputer options.

🌐 Meta, Microsoft, and Amazon launch open-source mapping initiativeLINK

Meta, Microsoft, Amazon, and TomTom have launched the Overture Maps Foundation, an initiative aimed at competing with Google Maps and Apple Maps.

The group has released its first open map dataset, including over 59 million places of interest globally, which can be used by third-party developers to create their own mapping or navigation products.

The Overture Maps Foundation could potentially disrupt Google's and Apple's hold on mapping, as it provides data at no cost, unlike these companies that charge for access to their mapping APIs.

⚡ Major automakers launch a large-scale EV charging networkLINK

Seven major automakers, including BMW, General Motors, Honda, Hyundai, Kia, Mercedes-Benz, and Stellantis, have announced a joint venture to create a new charging network of over 30,000 chargers across North America starting next year.

The planned charging sites will comply with the new National Electric Vehicle Infrastructure guidelines, supporting CCS1 and NACS plugs, and will use the plug-and-charge protocol.

The group plans to first deploy chargers along major highways and in metropolitan areas, possibly utilizing part of the $5 billion in NEVI funding administered by states for building a national fast-charging network along travel corridors.

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Meta's Threads app is adding a "Following" feed and "Translations" feature, responding to user feedback after a 70% drop in daily active users.LINK

Snap's shares plunge as it struggles with a persistent revenue decline, due to ongoing challenges in its digital advertising platform.LINK

Samsung introduces two new foldable smartphones, the Galaxy Z Flip 5 and Z Fold 5, featuring larger displays, improved cameras, and advanced processors, despite high market prices.LINK

Germany is investing €20bn from its climate fund to boost domestic semiconductor production, including significant subsidies for Intel, TSMC, and Infineon.LINK

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