Plus: Prosus sells partial stake in Delivery Hero for nearly $395 million. And unemployment is on the rise in the information technology job sector. Imani Moise hosts.
Learn more about your ad choices. Visit megaphone.fm/adchoices
[00:00:00] [SPEAKER_02] Introducing SuperBroadband from T-Mobile for Business. Nationwide 5G integrated with Starlink. Discover more at SuperBroadband.com.
[00:00:09] [SPEAKER_01] Speeds vary due to local network characteristics and management. Satellite requires hardware installation and clear view of the sky with 36 month commitment.
[00:00:16] [SPEAKER_00] Here's your morning TNB Tech Minute for Monday, May 11th. I'm Imani Moise for The Wall Street Journal. SoftBank is launching a battery business in Japan to meet surging electricity demand fueled by AI. The Japanese group said today that it will build large-scale battery cells and storage systems at its factory in Osaka in partnership with South Korean battery company Cosmos Lab and AI firm Delta X.
[00:00:40] [SPEAKER_00] The company plans to start production by March 2028, with potential overseas expansion in the medium term. SoftBank aims to make roughly $638 million in annual revenue from the battery business by 2030. Delivery Hero shares jumped more than 12% today after the technology investor, Prosys, agreed to sell a portion of its stake to Aspects Management for nearly $395 million.
[00:01:05] [SPEAKER_00] The move comes weeks after the Amsterdam listed tech investor sold around 4.5% of its stake in Delivery Hero to U.S. tech company Uber as part of its remedies tied to the acquisition of Just Eat Takeaway. Hong Kong-based Aspects, Delivery Hero's second largest shareholder, has been openly critical of the company's management.
[00:01:25] [SPEAKER_00] And the unemployment rate in the information technology job market rose to 3.8% in April, reflecting ongoing uncertainty in tech as AI continues to play havoc with hiring. The information sector lost 13,000 jobs last month, even as the broader U.S. economy added 150,000 positions, with gains in industries including retail, transportation, warehousing, and healthcare.
[00:01:50] [SPEAKER_00] While it's still too early to say exactly how AI is affecting employment overall, some businesses, especially in the tech industry, have said it's part of the reason they're cutting staff. And that's your TNB Tech Minute. We'll be back this afternoon with more.