IBM acquires Hashicorp and Elon announces affordable Teslas for 2025 🚘

Ok ok, thank goodness it’s Friday - we made it. Before you go enjoy your weekend, we want you to be informed with what’s going on in the world of tech. Which means welcome (back) to Product Scoop, renamed from Research Scoop. We’re the newsletter delivering news, insights, and analysis into the tech sector. Don’t forget, we got the scoops.

Without further ado, here’s your scoop below👇

💰IBM acquires cloud management company Hashicorp for $6.4B

• IBM has strategically shifted its focus away from competing as a pure cloud infrastructure vendor, recognizing its inability to match the dominance of Amazon, Microsoft, and Google in this space. The journey began with the $34 billion acquisition of Red Hat in 2018, followed by the purchase of Apptio last year and now HashiCorp for $6.4 billion. Read more

🚘 Elon Musk announces affordable Tesla EV’s coming in early 2025

• Tesla shares surged by 12% following CEO Elon Musk's announcement that the company plans to accelerate production of new affordable electric vehicle models, targeting an early 2025 rollout. Previously slated for the second half of 2025, Tesla's updated timeline for the new models indicates an expedited approach. Read more

🤖 Nvidia backed Synthesia announces “Expressive Avatars”

• Synthesia launched AI-generated digital characters that can convey human emotions like happiness, sadness, and frustration. This technology eliminates the need for cameras, microphones, and actors in professional video production, saving costs for businesses. Read more

⬇️ Meta stock tumbles 12% after issuing weak revenue guidance

• Meta shares experienced a sharp decline of 12% following the company's weak revenue guidance despite beating expectations in its first-quarter earnings report. The stock plummeted to around $435, shedding approximately $148 billion in market cap. Read more