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Grabango's mobile appGrabangoGrabango, a venture-backed startup that was vying to take on Amazon in cashierless checkout technology, is shutting down after it was unable to raise enough money to stay afloat."Although the company established itself as a leader in checkout-free technology, it was not able to secure the funding it needed to continue providing service to its clients," a spokesperson said in a statement to CNBC on Wednesday. "The company would like to thank its employees, investors, and clients for all their hard work and dedication."Food tech publication The Spoon reported earlier on Grabango's closure.Launched in 2016, Grabango was developing checkout-free technology that uses computer vision and machine learning to track and tally up items as shoppers grab them from store sh...

CNBC's Jim Cramer on Wednesday disagreed with the Department of Justice's move to consider a possible breakup of Google, asserting that the company benefits consumers, businesses and the U.S."Google's an aggressive company. It has big reach, got a lot of power, operates in many markets. But I defy you to find any regular people in this country who think of Google as a bad actor," he said. "Google search is the most incredible bargain in the world, and the same goes for YouTube."The government filed a landmark case accusing Google of violating anti-monopoly laws in 2020, and in August a U.S. judge ruled that it had an illegal monopoly on search and text advertising. The DOJ on Tuesday made recommendations for Google's search business and revealed it was considering a breakup of the company ...

A top-performing fund manager has been selling off Microsoft stock, citing concerns about the tech giant's future profitability in the face of advancements in artificial intelligence. Stephen Yiu, chief investment officer at the Blue Whale Growth Fund , revealed his fund has been reducing its Microsoft position over the past six months. The Blue Whale Growth Fund held Microsoft since its inception until August this year. The fund is up 16.6% this year. In 2023, the fund returned 30.7%, significantly outperforming its benchmark and the S & P 500, which was up 26%. Yiu's decision stems from his belief that Microsoft's business model is about to change significantly in light of the rise of generative AI. MSFT 1Y line "The business model of Microsoft is going to change dramatically on the ...