Category: 6. Business
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Mobileye falls on mixed Q1 results
Israeli advanced driving assistance systems (ADAS) company Mobileye Global Inc. (Nasdaq: MBLY) has reported mixed financial results for the first quarter of 2024. The company reported non-GAAP adjusted diluted earnings per share of minus $0.07 on revenue of $231.6 million, down 48% from $458 million in the corresponding quarter of 2023. The results…
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Shekel sharply weakens in thin holiday trading
The shekel has been weakening today against the world’s major currencies in volatile trading. This afternoon the Bank of Israel set the shekel-dollar exchange rate up 0.913% at NIS 3.794/$ and set the shekel-euro rate 1.192% higher at NIS 4.066/€. In late afternoon inter-bank trading the shekel weakened by a further 0.2% to NIS…
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Check Point beats analysts with strong Q1 results
Israeli cybersecurity company Check Point Software Technologies Ltd. (Nasdaq: CHKP) beat the analysts in its first quarter 2024 financial results. The company reported non-GAAP earnings per share of $2.04, up 13% from the corresponding quarter of 2023 and revenue of $598.8 million, up 6% from the corresponding quarter. The analysts’ consensus was $2 per…
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Nvidia to buy Israeli deep learning co Deci AI – report
US chip giant Nvidia Corp. has struck a deal to acquire Israeli deep learning developer Deci AI, “The Information” reports, according to a person involved in the deal. The report follows hard on the heels of yesterday’s official announcement by Nvidia that it has entered into a definitive agreement to acquire Israeli AI infrastructure…
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SolarEdge share price hits five-year low
Israeli solar energy company SolarEdge Technologies (Nasdaq: SEDG) has seen its share price hit a five-year low earlier this week after its US rival Enphase published its financial results showing a slower than expected recovery in the industry. SolarEdge’s share price fell to $55, giving a market cap of $3.2 billion. The share…
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Delek unit Ithaca buys Eni’s UK assets
Delek Group Ltd. (TASE:DLEKG) North Sea energy exploration and production unit Ithaca Energy (LSE: ITH) has agreed to buy Italian energy major Eni unit Eni UK’s North Sea gas and oil assets – one month after reporting it was in talks for the deal. In this latest in a series of acquisition deals,…
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Can Rad Group survive in post Yehuda and Zohar Zisapel era?
Last month Yehuda Zisapel died at the age of 81, less than a year after his brother Zohar died at the age of 74, symbolizing the end of an era. The brothers, two of the founding fathers of Israel’s tech sector, founded the Rad-Bynet Group in the 1980s and in the following decades acted…
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Nvidia acquires Israeli AI infrastructure co Run:ai
US AI chip giant Nvidia Corp. today announced it has entered into a definitive agreement to acquire Israeli AI infrastructure orchestration and management company Run:ai. Nvidia said that the acquisition will enable its customers to make more efficient use of their AI computing resources. No financial details about the deal were disclosed but…
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US Senate passes Israel, Ukraine, Taiwan aid package
Having passed the House of Representatives on Saturday, the bill now goes to President Biden for signature. The US Senate has for the second time voted in favor of a $95 billion aid package for Israel, Ukraine, and Taiwan. The vote was 79 for and 18 against. The bill was passed by…
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Israeli smart glass co Gauzy files for Nasdaq IPO
The Tel Aviv based company had revenue of $78 million in 2023 and a net loss of $79.3 million. Israeli smart glass manufacturer Gauzy has filed a prospectus for an IPO on Nasdaq. The Tel Aviv-based company is yet to report the amount it plans to raise and at what company valuation.…