Elon Musk Finally Closed the Twitter Deal

Mark Zuckerberg is in massive trouble as Meta’s weak quarterly revenues have frightened investors and the tech community.

FREMONT, CA: Elon Musk, the CEO of Tesla, has completed the purchase of Twitter. The closing of the acquisition has been delayed multiple times due to several problems; in fact, one of the major reasons why the Twitter deal has previously been delayed is the various lawsuits Elon has been the target of. Elon asserted earlier this month that the purchase would proceed with the originally anticipated value of USD 44 billion.

After the company's shares fell over 20 per cent in late trading, Mark Zuckerberg has pleaded with investors to exercise patience and has an apparent dire situation. Investors expected Zuckerberg to defend Meta's rising costs for its metaverse activities in light of the completely depressing quarterly revenue estimate. Zuck asserts that he is sure that Meta's biggest wagers in the metaverse, short-form video, and business communications are paying off.

Tech behemoths are taking action to reduce cloud and data centre costs in the face of deepening economic downturns. As corporations battle with mounting costs amid surging inflation and interest rate increases to squeeze client demands, investors are now seeking alternative reliable sources to ease corporate operations. The stock prices of all significant tech firms, including Amazon and Google, have fallen precipitously.

To promote the expansion and development of the cryptocurrency business, Google Cloud teamed up with Coinbase. The major tech tycoon now chooses to support Ethereum with a blockchain node engine, while it has ambitions to support other cryptocurrencies in the future. According to Google, the first blockchain network to be supported by a blockchain node engine will be Ethereum.