Tech News Hub: WEEKLY NEWS ROUNDUP
Our week at Tech News Hub started with Google Cloud's ten-year partnership sign with CME Group. The 10-year partnership investment cost will cost Google $1 billion in a non-voting convertible preferred stock series. These stocks are purposely made for Google, giving them voting rights and placing them in decision-making positions. Both companies will work towards migrating newer customers to the cloud much affordably. CME infrastructure migration will start working in early 2022, allowing companies to adapt with Google Cloud. The user-centric operation will help upgrade IT infrastructure throughout the process.
Our second story covered Amazon's plan to capture space real state with the Kuiper satellite project. With the ongoing success of SpaceX's Starlink project, Amazon started their own wireless communication broadband satellite deployment. Though they are permitted to have 3,236 satellites in different orbit layers, permission to deploy a total of 7,774 satellites is still ongoing. They haven't launched a single one yet, and the test launch is also pending. Looking for an upgraded permit brought them on headlines. Earliest we may see Amazon doing test launches in Q2 2022.
Popular antivirus and computer security company McAfee is selling the company for over $10 billion to Advent. It was acquired in early 2011 by Intel for $7.6 billion, which was the third-highest purchase of a cybersecurity company. The investor group is looking at McAfee's $26 per common share value totalling $12 billion. Though several other popular news portals reached McAfee, they denied disclosing further information on the topic.
Landing AI, pioneered by Google Brain's research lab founder and chief scientist of Baidu, Andrew Ng, made their public debut with a startup fundraising of $57 million. Andrew's initial plan is to double its employees from 75 to 150 by hiring more data scientists. Computer vision makes it easy to read data from digital images, videos and live feeds. The technology will help bring manufacturing, automotive, agriculture, electronics, biotech/ pharmaceutical, retail and telecommunication advancements to the world. There are many tasks too critical for humans to handle, whereas computer vision can do them perfectly. Ng said he is "not seeing much of this realised yet" in computer vision needing more empowerment to achieve its true potential.
Routing to our security column, the US government offered a $10 million bounty for any information regarding the Colonial Pipeline hack. The Colonial Pipeline serves 45 per cent of fuel to the west coast. The incident caused Colonial Pipeline company $5 million in ransom, of which $2.3 million was recovered. Ransom was paid via the most popular cryptocurrency, Bitcoin. Along with the $10 million bounties of the Russian hacker group DarkSide, an additional $5 million reward is set for whistleblowers. In an earlier report we published at Tech News Hub, the US treasury reported that $590 million had been transferred as ransom via crypto.
Worlds No. 1 IT service provider Kyndryl detached from IBM and started working as an individual company. The first partnership of Kyndryl began with Microsoft as they have a $500 billion managed service market, making it one of the most exciting partnerships of the year. Most of the time, we see companies buying one out to have more business ventures, but in Kyndryl's case, it is different. Kyndryl and Wyshner executives are looking forward to providing affordable and more reliable service in the managed IT space.
Last but not least, Tech News Hub weekly rounding up ends with a remote work surveillance management system. One of three remote workers is being monitored heavily by their employers. Some employers use cameras to check out employees, which is a total violation of privacy. Video or camera should only be used during business meetings or calls, not whenever an employer wants to. Remote work is not a new thing that came out due to the pandemic, and it's been there for a long time. Information Commissioner's Office (ICO) is reviewing measures to tackle the situation without hampering privacy. This pretty much sums it up for Tech News Hub weekly roundup.