⏱All chips, no dip
The vaccine brings in revenue, and tips for tweets
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Moore’s Law dictates that the number of transistors in a processor will double every two years, and yesterday IBM managed to prove that law true once again as it announced the world’s first ever 2 nanometer chip (the previous smallest was 7nm). This newest breakthrough will allow computers to function with a “45% performance improvement or 75% power reduction” when compared to the previous 7nm chips.
Moderna reported quarterly earnings yesterday and announced their first ever profitable quarter buoyed almost entirely by their vaccine. During the three months, they brought in more than $1.73Bn of revenue, but raised guidance for the rest of 2021 to a shocking $19.2Bn based on a series of advanced purchase agreements that it had recently secured. Following this the stock plummeted off of news that the government was backing a patent waiver for vaccines to help other countries in need, despite Moderna stating back in October that it wouldn’t enforce vaccine related patents during the pandemic.
0:58- Tips for Tweets
Late last afternoon Twitter finally announced its much anticipated “Tip Jar” feature. This new addition to each user’s profile (in time) will allow them to link their payment services (Bandcamp, Cash App. Patreon, PayPal and Venmo) so followers can send them “tips” without Twitter ever taking a cut. The company is hoping that this will enable “...an easy way to support the incredible voice that make up the conversation on Twitter.”
1:17- Cutting into companies
In his first ever concrete stance on a corporate tax rate, President Biden said that he would like to see a rate “between 25 and 28.” During the same remark, he also mentioned that this increase would help pay for the infrastructure bill, saying, “That’s a couple hundred billion dollars, and we can pay for these things.”
Have a great rest of your day, and we’ll see you tomorrow bright and early!
-The 90 Second News Team
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