HMG Strategy Tech News Digest – Apr 16

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Coinbase Trades on NASDAQ – Shares Surge at Opening

It just got a little easier to invest in cryptocurrency. Coinbase is now trading on the NASDAQ, and investors seem comfortable with the idea of mixing dollars and cryptocurrency.

โ€œItโ€™s one of the easiest ways to go from the dollar to cryptocurrency, and itโ€™s now the largest bitcoin exchange in the US. If you were hesitant to deal with cryptocurrency itself โ€” maybe because you were worried youโ€™d put a wallet on a hard drive and lose the hard drive or forget the password or something else โ€” investing in Coinbase is a less risky way to get in on the trend,โ€ writes Elizabeth Lopatto in The Verge.

From my perspective, this is another major data point in the evolution of cryptocurrency from a niche to an accepted form of economic exchange.

โ€œCoinbase shares surged in premarket trading on Thursday, a day after the cryptocurrency exchange went public in a blockbuster direct listing,โ€ writes Ryan Browne of CNBC. Coinbaseโ€™s value hit $100 billion, before retreating, according to Browneโ€™s report.


Dell to Spin Off Ownership Stake in VMware

Dell plans to sell spin off its stake in VMware, a move that would create two distinct companies. Ideally, the separation would enable each company to compete more effectively in a rapidly evolving market for newer and better technologies.

โ€œAfter months-long negotiations, Dell Technologies announced Wednesday it plans to spin off its 81% ownership stake in VMware,โ€ writes Clare Duffy of CNN Business. โ€œThe move will create two separate companies and generate around $9 billion in proceeds for Dell โ€ฆ The news sent Dell’s stock soaring as much as 9% in after-hours trading.โ€


NVIDIA Outperforms Q1 Expectations

NVIDIA is riding high these days, thanks to a digital tidal wave sparked by the pandemic and sustained by major transformations in digital business strategies.

โ€œQ1 total revenue is tracking above the $5.30 billion outlook provided during our fiscal year-end earnings call. We are experiencing broad-based strength, with all our market platforms driving upside to our initial outlook,โ€ Colette Kress, executive vice president and chief financial officer of NVIDIA, said in a statement.

NVIDIAโ€™s market platforms include Gaming, Data Center, Professional Visualization, and Automotive. The company also raised its first-quarter revenue estimate for its new CMP product for industrial-scale cryptocurrency mining to $150 million, up from $50 million previously expected.


Microsoft Strengthens AI, Voice Recognition and Medical Computing Capabilities with $16 Billion Nuance Acquisition

Microsoft said this week that it plans to acquire Nuance, a company with deep strength in artificial intelligence, voice recognition and healthcare computing, for $16 billion.

โ€œIn acquiring Nuance, whose products include the transcription tool Dragon, Microsoft is hoping to bolster its offerings for the fast-growing field of medical computing. Nuance has an established set of customers as well as a wide array of speech and text data related to health care, which is often a vital part of building new systems,โ€ write Michael J. de la Merced, Cade Metz and Karen Weise in the New York Times. โ€œMicrosoft said the acquisition would double the size of the health care market where it competed, to almost $500 billion.โ€

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