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Sony has launched its Ethereum Layer 2 platform, Soneium, after a successful four-month testing phase with over 14 million users. Developed by Sony Block Solutions Labs, Soneium aims to enhance blockchain interactions for creators through tools like NFT-based engagement systems and the Soneium Spark incubator program. The platform supports Bridged USDC for value exchange and focuses on building infrastructure for a creator economy across Sony's entertainment subsidiaries.
Sony is developing a portable console to play PlayStation 5 games, aiming to compete with Nintendo's Switch and potential mobile hardware from Microsoft. While the device is in early stages, it may take years to launch, and Sony could ultimately decide against its release.
Sony Group Corp. is reportedly in discussions to acquire Japanese content publisher Kadokawa Corp., with a potential deal expected in the coming weeks. Following the news, Sony"s shares declined, while Kadokawa"s stock surged to the upper daily limit. A spokesperson for Sony declined to comment on the matter.
Japan is investing over 10 trillion yen ($65 billion) to revitalize its semiconductor industry, aiming to triple domestic chip sales by 2030. The initiative includes support for Rapidus, a state-backed venture focused on producing advanced 2-nanometer chips, as Japan seeks to regain its former chip leadership amid competition from Taiwan and South Korea. The plan also involves attracting global chipmakers like TSMC and Intel to bolster the local supply chain and enhance technological capabilities.
Sony Group Corp. has raised its revenue outlook to ¥12.71 trillion ($83.2 billion) for the fiscal year ending in March, driven by strong music sales and ongoing success in PlayStation games. In the September quarter, the company reported an operating profit of ¥455.08 billion, a 73% increase, surpassing analyst expectations of ¥335.3 billion.
The Healthcare Additive Manufacturing market is rapidly evolving, projected to grow from USD 2.6 billion in 2023 to USD 9.99 billion by 2031, with a CAGR of 20.22%. Key trends include a focus on sustainability, digital transformation, and health and wellness, while barriers to entry include strong brand loyalty, high capital requirements, and regulatory hurdles. Prominent players include 3D Systems, Stratasys, and GE Additive, driving innovation and market expansion.
Eli Lilly's stock fell 12% after disappointing Q3 results and a cut in 2024 earnings guidance, while Brinker International saw a 6% rise following strong fiscal Q1 results. Bank of America shares dropped 1.5% amid discussions with the Consumer Financial Protection Bureau, and UBS reported $1.4 billion in Q3 earnings. Other notable movements included BASF expecting to reach the lower end of its annual EBITDA guidance and Volkswagen reporting a decline in third-quarter profits.
AMD reported third-quarter earnings of 92 cents per share on $6.82 billion in revenue, slightly exceeding expectations, but shares fell 6% due to cautious fourth-quarter guidance. The data center business saw a 122% year-over-year revenue increase, driven by strong AI chip sales, while gaming revenue plummeted 68%. Despite a 20% rise in shares this year, AMD lags behind competitors like Nvidia and Broadcom in AI chip market gains.
The Virtual Reality (VR) in Healthcare Market is projected to grow from USD 3.20 billion in 2023 to USD 46.40 billion by 2032, achieving a CAGR of 33.30%. This growth is driven by advancements in technology, increased investment, and the rising need for innovative treatment options, particularly in training and patient care.North America leads in revenue, supported by government initiatives and funding, while the Asia Pacific region is expected to experience the fastest growth. Recent developments include partnerships for VR applications in medical training and patient management, enhancing healthcare delivery for Veterans and beyond.
The yen fell to its lowest level in nearly three months, dropping 0.6% to 153.27 per dollar, following Japan's ruling coalition's failure to secure a parliamentary majority in the recent election. Political instability is expected to pressure Tokyo stocks, as equity futures have also declined. Meanwhile, crude oil prices tumbled after Israeli strikes on Iran bypassed oil facilities.
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