January 21, 2024: First S&P Record Close In Two Years

Last week, stock markets had a strong finish. On Friday, S&P 500 rose past its January 2022 all-time high. Dow Jones also closed at an all-time high. Nasdaq, while still not at a record high, closed at a two year high after rising 2.9%. Reddit plans to go public by the end of March. Shein faces data privacy review from Chinese regulator, potentially complicating the Company’s US IPO. Elon Musk threatened to stymie Tesla’s development in artificial intelligence and robotics if he isn’t granted more control of Tesla. OpenAI CEO Sam Altman said that his top priority right now is launching the next version of the company’s large language model, likely to be called GPT-5. Sam Altman also plans to establish a global network of factories to manufacture semiconductors. Meta aims to build artificial general intelligence, software that can reason like humans do, CEO Mark Zuckerberg said. Google and YouTube are cutting hundreds of jobs. Baidu stock sinks the most since 2022 despite denying links to PLA AI. Chip design software maker Synopsys said on Tuesday it would buy Ansys in a US$35 billion cash-and-stock deal. The European Union intends to block Amazon’s US$1.7 billion acquisition of Roomba maker iRobot. The Justice Department could sue Apple over Antitrust by March. The U.S. Supreme Court has declined to hear the legal case between Apple and Epic Games, allowing a lower court’s decision to stand that requires Apple to open up its App Store to alternative payment systems. Sophic Client Kraken Robotics’ insider buying was mentioned in the Globe and Mail. Dye & Durham announced a $126 million bought deal offering. Flexport is raising $260 million from Shopify, one of its biggest shareholders. Sophic Client UGE announced Q4 2023 milestones and business updates.

Sophic Client Kraken Robotics (PNG-TSXV, KRKNF-OTC): Insiders buy as Kraken Robotics resurfaces.

Recent insider buying was mentioned in the Globe and Mail. According to the piece — last fall, CEO Greg Reid sounded up beat saying, “we are confident that our momentum will continue in 2024 as our sonar and subsea power business are seeing strong growth opportunities.” On Jan. 8, he was buying, picking up 100,000 common shares at 65 cents. http://tinyurl.com/3v28x73z

Dye & Durham (DND-TSX) announces approximately $126 million bought deal offering of common shares.

Dye & Durham entered into an agreement with an underwriting syndicate led by Canaccord Genuity Corp. to complete a new issue, on a bought deal basis, of an aggregate of 10,400,000 common shares at a purchase price of $12.10 per common share for aggregate gross proceeds of approximately $126 million. The Company intends to use the net proceeds of the Offerings for the repayment of debt. The Offering is consistent with the Company’s previously stated goal to deliver the business. Following closing of the Offering, the Company will have made significant progress towards its target of reducing its leverage ratio to less than four times total net debt to adjusted EBITDA. Closing of the Offering is expected to occur on or about February 6, 2024. http://tinyurl.com/kerdnvpe

Struggling logistics firm flexport raises US$260 million from Shopify (SHOP-NYSE, SHOP-TSX).

Flexport is raising $260 million from e-commerce software giant Shopify, one of its biggest shareholders, according to two people with direct knowledge, giving the struggling logistics startup more breathing room after it burned through cash last year. Shopify will get notes that are convertible into Flexport equity in exchange for the money. The fundraising, which has not been previously reported, follows Shopify’s sale of its money-losing logistics business to Flexport in exchange for equity last year. It also comes on top of a US$40 million cash infusion into Flexport from Shopify last June as part of the logistics deal, three people with direct knowledge said. The cash infusion also hadn’t been previously reported. Flexport, which was valued at a peak of US$8 billion in early 2022, has seen a sharp drop in revenue after freight rates tumbled from pandemic-era peaks. It burned through around US$300 million in the first half of last year, The Information has reported. http://tinyurl.com/3hsd48fn

Software acquirer Valsoft closes $229 million in growth financing.

Valsoft Corporation, a Montréal-based firm that seeks to acquire and scale vertical software companies, has closed $229 million in growth funding as it looks to expand its portfolio. The investment was led by new investor Coatue and returning investor Viking Global Investors, which acquired a minority stake in Valsoft in March 2022 for US$100 million. A spokesperson for Valsoft told BetaKit this latest all-primary investment comprised a mix of debt and equity financing. The financing comes after a period of growth for the technology consolidator. Valsoft placed on Deloitte’s Technology Fast 50 list last year with a three-year revenue growth of 340 percent. Founded in 2015, Valsoft acquires and develops vertical market software companies. Its portfolio includes companies in over 40 verticals, including information technology, retail and point of sale, aviation, education, transportation and logistics, among others. Valsoft’s spokesperson said Canadian-founded companies make up five percent of its current portfolio. According to a 2023 report from the Montréal Gazette, Valsoft typically targets “established” software businesses with stable cash flow and sales ranging between $3 million and $50 million. http://tinyurl.com/yrufr9c2

Sophic Client UGE International (UGE-TSXV, UGEIF-OTC) announces Q4 2023 milestones and business updates.

During the quarter, UGE reached commercial operation on its 1MW project in Norway, Maine. The Company also completed construction and received Permission to Operate (“PTO”) for three more projects which together total 1.8MW. All three projects began generating electricity before the end of the fourth quarter. On January 11, 2024, the Company announced that it had reached official commercial operation for one of these three projects – a 457kW rooftop in Peekskill, New York. The other two are expected to achieve commercial operation in the near future. UGE has had all four projects appraised by an independent third party. Together the projects are valued at a total of USD$8.7 Million or $3.09/W. With the addition of the Norway and Peekskill projects, UGE’s operating portfolio now totals 5.3MW as of January 11, 2024 and will reach 6.6MW once the remaining two projects achieve commercial operation. In the fourth quarter, five of UGE’s projects totaling 10.3MW reached the mobilization stage of deployment, which marks the official start of construction. All are currently scheduled to reach commercial operation in 2024. Among these projects are UGE’s first in Maryland and Oregon. At 3.5MW, the Oregon project will also be UGE’s largest asset when it joins the Company’s operating portfolio. UGE’s second project in Smithville, Texas, a 1.4MW ground-mount, reached the final stage of development – Limited Notice to Proceed (“LNTP”). The LNTP milestone indicates that UGE has received a signed interconnection agreement from the utility, all non-discretionary permits, an executed lease, an executed power purchase agreement (“PPA”) (if applicable), or acceptance into the Community Solar program (if applicable). Notice to Proceed (“NTP”) on the project is expected to occur in the coming weeks, with mobilization in the coming months. During the fourth quarter, UGE closed on construction and term financing for three projects in New York, Maine, and Oregon. The Company also closed two private placements of 9% secured debentures of the Company (“Green Bonds”). The first closed on November 17, 2023 for aggregate gross proceeds of CAD$ 1,538,050 and USD$74,100. The second closed on December 22, 2023 for aggregate gross proceeds of USD$518,700. Net proceeds from the private placement will be utilized for the development of UGE’s solar and energy storage projects. https://bit.ly/49dNRyH

Reddit plans to go public by end of March.

Reddit plans to launch its initial public offering at the end of March, Reuters reported Thursday, setting up one of the most anticipated tech listings of the year. The social media company would make its IPO filing public by the end of February, giving investors the clearest look at Reddit’s business in its 19-year history. We have some idea of its business progress already: The company grew revenue by more than 20% to slightly over US$800 million, The Information reported last month. The company wasn’t profitable. Other much-anticipated tech IPOs over the next few months are cloud storage startup Rubrik, ticketing firm SeatGeek and semiconductor firm Astera Labs. http://tinyurl.com/2a62mdau

Shein faces data privacy review from Chinese regulator.

The Cyberspace Administration of China, the country’s internet regulator, is scrutinizing Shein’s data privacy practices, the Wall Street Journal reported this week, potentially complicating the China-founded fast-fashion giant’s plans for a U.S. initial public offering. Before it can go public in the U.S., Shein has to get signoff from the China Security Regulatory Commission, which coordinates with other Chinese regulators like the CAC to ensure overseas listings don’t pose national security concerns. Shein doesn’t sell to Chinese shoppers, but its relationship with Chinese suppliers and other partners prompted the regulators’ reviews, the report said. As part of its review, the CAC is looking into how Shein handles data on China-based staff, suppliers and partners and how the company can prevent that data from leaking overseas, the report said. The regulator is also reviewing what kind of information Shein will disclose to U.S. securities regulators as part of its planned IPO, according to the report. Shein is also facing scrutiny of its data practices in the U.S.—in December, a top Congressional committee sent letters to Shein and other e-commerce companies with ties to China asking them to answer questions about their data privacy practices. http://tinyurl.com/3xkh4y4c

Elon Musk seeks 25% control over Tesla.

Elon Musk threatened to stymie Tesla’s development in artificial intelligence and robotics if he isn’t granted more control of Tesla. In a late Monday post on X, Musk said he is “uncomfortable growing” Tesla’s capabilities “without having ~25% voting control.” Without that control, Musk said he would “prefer to build products outside of Tesla.” Tesla bulls see the electric vehicle maker’s advancements in AI as a key differentiator that could add as much as US$500 billion to the company’s value. As of April, Musk owned around 13% of Tesla, although options which have vested but not exercised would bump him up to 20.6%. In another post Monday, Musk said that the board has been holding off on updating his compensation package pending the results of a lawsuit in Delaware which seeks to invalidate Musk’s 2018 pay package which is worth as much as US$55 billion. http://tinyurl.com/yckz697k

Altman’s top priority is GPT-5.

OpenAI CEO Sam Altman said that his top priority right now is launching the next version of the company’s large language model, likely to be called GPT-5. But he warned that future versions of OpenAI’s LLMs are likely to make people “uncomfortable” with their level of customization based on the values and countries of residence of individual users, he said in an interview with Axios’ Ina Fried at the World Economic Forum in Davos on Wednesday. Developing these bleeding-edge models will likely require a significant energy breakthrough due to the vast power consumption needs of AI development, Altman said in a separate interview. He said he was especially excited about nuclear fusion and fission, as well as cheaper solar power. Throughout the event, Altman brushed aside questions about the leadership crisis that engulfed OpenAI last November, though he admitted during the Wednesday interview that he “isn’t sure on the exact [employment] status” of OpenAI chief scientist Ilya Sutskever, who was one of the board members who ousted him last year. At the conference, Altman also hinted that the unusual governance structure of OpenAI could change, but only after its nonprofit board is finalized first. http://tinyurl.com/4w46scr3

Altman plots factory network for chip ambitions.

OpenAI CEO Sam Altman’s plans to establish a global network of factories to manufacture semiconductors, according to a new report from Bloomberg, Altman has spoken to various firms, including Abu Dhabi-based G42 and SoftBank Group Corp., to raise billions of dollars for the venture, according to Bloomberg. As The Information reported in November, Altman has been speaking to semiconductor executives about his ambitions to design new chips that would lower costs for large-language model companies. While OpenAI would use the chips, Altman has told some stakeholders that this venture is separate from the organization, according to someone with direct knowledge of the matter. OpenAI did not immediately respond to requests for comment. http://tinyurl.com/3k3t24dv

Meta plans to build Artificial General Intelligence, Zuckerberg says.

Meta Platforms aims to build artificial general intelligence, software that can reason like humans do, CEO Mark Zuckerberg said in an interview with The Verge. To do so, the company is stockpiling GPUs. By the end of this year, Meta will own nearly 600,000 GPUs, with more than half of those being Nvidia’s H100 chips, Zuckerberg said. “We’ve come to this view that, in order to build the products that we want to build, we need to build for general intelligence,” Zuckerberg said in the interview. He later added: “We have built up the capacity to do this at a scale that may be larger than any other individual company.” Meta is currently training Llama 3, which will have code-generating capabilities and focus on more advanced reasoning and planning abilities, Zuckerberg said. The company released Code Llama, a large language model for coding built on top of Llama 2, in August. Code Llama was built primarily by researchers at Fundamental AI Research, the company’s AI research lab. FAIR will be moved alongside the generative AI group, which works on generative AI products for Meta’s apps, Zuckerberg said. http://tinyurl.com/22dyssyv

Google ad sales unit to cut hundreds of jobs.

Google is cutting hundreds of jobs in its 30,000-person ad sales unit as part of a broader reorganization, Chief Business Officer Philipp Schindler told employees in an email Tuesday morning. It’s the latest round of layoffs after the company last week cut more than 1,000 people across numerous divisions, part of an effort that could boost margins and offset increased compensation for artificial intelligence staff locked in a battle with OpenAI. The ads reorganization, which The Information previewed last month, comes as Google is relying more on machine-learning techniques to help customers buy even more ads on its search engine, YouTube and other services. These tools don’t require much employee attention and they carry relatively few expenses, so the ad revenue carries a high profit margin. (A Google spokesman, Chris Pappas, said the layoffs were not directly related to Google’s AI advances.) Managers will begin notifying affected employees tomorrow, Schindler said. The cuts will be concentrated on teams focused on selling ads to large customers. Google plans to invest more in its Google Customers Solutions unit, which has typically focused on smaller customers. http://tinyurl.com/5n9ye7sc

YouTube lays off 100 on creator, partner support team.

YouTube is cutting around 100 employees focused on providing support to content creators and other partners, a spokeswoman said Wednesday. The cuts, which Tubefilter first reported, come one day after YouTube’s owner, Google, laid off hundreds of people in its ad sales organization. YouTube has more than 7,000 employees, according to a person with knowledge of the figure. In total, Google has cut more than 1,000 employees this month across multiple divisions as part of cost-reduction efforts. The spokeswoman said YouTube also plans to reorganize certain units. Mary Ellen Coe, YouTube’s business chief, said in an internal memo Wednesday that the company is splitting its support staff into two units focused on helping the app’s users and video creators, respectively. Meanwhile, YouTube is combining teams focused on music initiatives including its music-streaming service into a single group and consolidating staff working on film and TV initiatives. http://tinyurl.com/4w46scr3

Baidu sinks most since 2022 despite denying links to PLA AI.

Traders cited an SCMP report about an alleged military tieup The US and China are in a conflict over technology such as AI Baidu Inc. plunged its most in more than a year after a report linked its Ernie AI platform to key military research, spurring concerns about retaliation from Washington. The search engine firm, generally considered one of China’s leaders in artificial intelligence development, fell 11.5% Monday despite publicly denying the relationship. Traders in Hong Kong cited a South China Morning Post report about how a university affiliated with the People’s Liberation Army’s Strategic Support Force — which oversees cyberwarfare — had tested its AI system on Baidu’s ChatGPT-like Ernie. http://tinyurl.com/bpap4xkm

Synopsys to buy engineering software firm Ansys in US$35 billion deal.

Chip design software maker Synopsys said on Tuesday it would buy Ansys in a US$35 billion cash-and-stock deal, snapping up the maker of software used in creating products from airplanes to tennis rackets of players like Novak Djokovic. The transaction would be the biggest acquisition in the technology sector since chipmaker Broadcom took over software maker VMware last November in a US$69 billion deal. It could herald more big deals as a pickup in economic sentiment and some failed attempts by antitrust regulators to thwart deals embolden chief executives to place large acquisition bets. The deal implies a per-share value of US$390.19 and represents a premium of about 29% over Ansys’ last close on Dec. 21, 2023, the companies said. http://tinyurl.com/ykpnzskj

EU plans to block Amazon’s iRobot acquisition.

The European Union intends to block Amazon’s US$1.7 billion acquisition of Roomba maker iRobot, the Wall Street Journal reported on Thursday. iRobot shares plummeted 40% to $14.30 during after hours trading, far below Amazon’s proposed acquisition price of US$51.75 per share. EU officials told Amazon they were likely to block the deal during a meeting on Thursday, according to the report. Earlier in January, POLITICO reported that Amazon had declined to offer the EU concessions to win approval of the deal. The deal is also still under Federal Trade Commission review in the U.S. The EU said in November that the deal could restrict competition in the robot vacuum market, by for example letting Amazon prioritize iRobot products over competitors on Amazon’s e-commerce site. http://tinyurl.com/5bxnck8k

John Deere, meet Elon Musk: SpaceX satellites to link farm giant’s equipment.

The world’s largest farm machinery manufacturer signed a deal with SpaceX’s Starlink business to connect tractors, seed planters, crop sprayers and other equipment in areas that lack adequate internet service, allowing them to use Deere’s digital products. Illinois-based Deere has been investing billions of dollars in building out computer-assisted services for farmers, including software that allows herbicide sprayers to distinguish crops from weeds and driverless tractors to plow fields. http://tinyurl.com/ynhx37z8

Microsoft launches Copilot Pro for US$20 per month per user.

Copilot Pro gives you the latest features and best models that Microsoft AI has to offer. Copilot Pro, the most advanced and fastest version of Copilot, has been released today by Microsoft. Copilot, the new name for the new Bing Chat experience, now has a paid version that costs US$20 per month per user. This brings “a new premium subscription for individuals that provides a higher tier of service for AI capabilities, brings Copilot AI capabilities to Microsoft 365 Personal and Family subscribers, and new capabilities, such as the ability to create Copilot GPTs,” Microsoft announced. Copilot Pro has these features, that are above and beyond normal Copilot: A single AI experience that runs across your devices, understanding your context on the web, on your PC, across your apps and soon on your phone to bring the right skills to you when you need them; Access to Copilot in Word, Excel, PowerPoint, Outlook, and OneNote on PC, Mac, and iPad for Microsoft 365 Personal and Family subscribers; Priority access to the very latest models, including the new OpenAI’s GPT-4 Turbo. http://tinyurl.com/48p97y74

Samsung shows smart ring to rival Oura in renewed health tech push.

Samsung Electronics Co. previewed a new smart ring with sensors that the company hopes will vault them into deeper competition for health technology with Apple Inc. and others. The company teased the device — called the Galaxy Ring — Wednesday at its Unpacked product launch event in San Jose, California. Samsung didn’t share many details about the product, but said it would include a slew of sensors and integrate with the company’s other devices such as the latest Galaxy S24 smartphones also introduced at the event. While smartwatches from Apple and Samsung have been the primary consumer entry point into health tracking in recent years, smart rings have grown in popularity. Oura Health Oy has become well-known with its health-tracking rings, while Apple has filed patents for similar devices. Samsung didn’t say when the Galaxy Ring would be released, nor its price. Oura’s latest rings start at about US$300. Samsung also announced new sleep analysis features based on artificial intelligence, including sleep apnea detection, for their smartwatches. Apple is working on a similar feature for this year, Bloomberg News has reported. Samsung also is rolling out what it calls a Vitality Score, a metric designed to tell users how prepared they are for their day. http://tinyurl.com/8k6pn5up

Apple reportedly ready to enable sideloading for iOS users in the EU.

The EU’s Digital Markets Act antitrust legislation passed last year will force Apple to allow users to install third-party apps from outside the iOS App Store, a process known as sideloading. Apple is yet to reveal how exactly it will comply with the legislation, but the company reportedly plans to do so very soon. According to Bloomberg’s Mark Gurman, Apple is expected to roll out the update that will enable sideloading for iPhone and iPad users in Europe “in the coming weeks.” Interestingly, Gurman says that due to these changes, the App Store will be split in two. There will be one version for EU countries and another for the rest of the world. A recent report revealed that Japan is also preparing its own antitrust legislation that would force Apple to enable sideloading in iOS. Similar to the EU, Japan also wants Apple to allow developers to implement alternative payment methods in their apps. At the same time, the US Department of Justice (DOJ) also seems ready to force Apple to allow sideloading on the iPhone and iPad. Given the current situation, it seems quite likely that Apple will eventually make sideloading available globally rather than handling the situation individually for each country that passes new antitrust legislation. http://tinyurl.com/kp8nrd53

Justice Department could sue Apple over Antitrust by March.

The U.S. Department of Justice aims to file an antitrust lawsuit against Apple as soon as March, Bloomberg reported. The news comes after the New York Times reported earlier this month that a lawsuit could be filed sometime in the first half of the year. It’s the culmination of a five-year government-led investigation into whether Apple has unfairly shut out software and hardware competitors such as music streaming service Spotify and tracking device company Tile. Bloomberg said Justice Department officials had been waiting for the results of a U.S. Supreme Court review of the legal fight between Apple and Epic Games over App Store commission fees. However, the high court earlier this week declined to take up the case, effectively letting a lower court’s ruling stand. Apple and the Justice Department have met three times to discuss a potential antitrust lawsuit, Bloomberg added. http://tinyurl.com/yerbybtc

Supreme Court won’t hear Apple-Epic case, allowing for outside payment.

The U.S. Supreme Court has declined to hear the legal case between Apple and Epic Games, allowing a lower court’s decision to stand that requires Apple to open up its App Store to alternative payment systems. However, the outcome still allows Apple to introduce measures discouraging developers from using alternative payments, ensuring that it will continue to capture the majority of commissions from in-app purchases. As a result of the ruling, Apple revised guidelines to its App Store on Wednesday to allow developers to steer users away from Apple’s in-app payments system via links to websites. But Apple’s rules still require developers to pay a commission of as high as 27% and limits where developers can place such links and how they function. http://tinyurl.com/2jk8ua8p

Apple removes blood oxygen monitoring from watch to avoid ban.

Masimo, the firm that successfully banned sales of the Apple Watch in the U.S. due to patent infringement, revealed that Apple has removed blood oxygen monitoring from its devices. The outcome is mixed for Apple as it will likely be able to resume sales of the Apple Watch but without one of its key health features. Masimo said in a filing on Monday that U.S. Customs and Border Protection ruled last week that Apple’s removal of the feature puts the device outside the scope of the ban. The development comes after the Apple Watch was banned at the end of December by the International Trade Commission for infringing on Masimo’s patents. But the ban only lasted a few days after a U.S. Court of Appeals granted a temporary stay to it while Apple appealed. The latest ruling by the U.S customs agency will likely persuade the U.S. appeals court to grant a permanent stay to the ban. http://tinyurl.com/ycx5f592

FedEx announces its own commerce platform for merchants.

Logistics company FedEx announced its own commerce platform called FDX. The platform will likely compete against Amazon by offering merchants services like demand generation, fulfillment, tracking, and post-purchase experiences including returns. The company said that FDX is currently in private preview with plans for a wider launch in fall 2024. http://tinyurl.com/4ws9e7b8

South Korea lays out US$470 billion plan to build chipmaking hub.

It envisions the world’s biggest chipmaking center near Seoul Samsung and Hynix are leading a two-decade investment South Korea unveiled plans by leading firms such as Samsung Electronics Co. and SK Hynix Inc. to spend more than US$470 billion establishing the world’s largest chipmaking cluster, joining a global race to safeguard domestic supply. The government on Monday outlined a blueprint involving investment of 622 trillion won (US$471 billion) from the private sector in the years leading up to 2047. They will spend the money to build 13 new chip plants and three research facilities, on top of an existing 21 fabs. Spanning Pyeongtaek to Yongin, the area is expected to be the largest in the world, capable of producing 7.7 million wafers monthly by 2030. http://tinyurl.com/2p9dbh3r

TSMC’s second fab in Arizona delayed as US grants remain in flux.

The firm’s first fab in Arizona has been pushed back to 2025 Biden White House has yet to hand out promised chip subsidies. Taiwan Semiconductor Manufacturing Co. announced another delay to its $40 billion site in Arizona, dealing a further blow to the Biden administration’s plans to boost manufacturing of critical components on US soil. Executives said their second plant in Arizona, whose shell is now being built, will start operations in 2027 or 2028, later than TSMC’s prior guidance of 2026. That’s after the company in July announced a delay to the first site, now due to start making 4-nanometer chips only in 2025, citing a lack of skilled labor and higher costs. http://tinyurl.com/mrnauy78

Sophic Client Xcyte Digital (XCYT-TSXV): Sophic Insights Report – Time to Get “Xycte”d.

Event organizers are experiencing a much-anticipated resurgence of in-person events as the digital landscape continues to evolve. The COVID-19 pandemic served a valuable lesson, emphasizing the significance of embracing technology-driven solutions for many industries. This recognition underscores the need to reimagine our industries, including the way we organize events in the future, incorporating innovative approaches to ensure success and adaptability in a changing landscape. Sophic Capital client Xcyte Digital Corp. is a spatial computing and artificial intelligence enhanced event technology aggregator and developer providing a high value, cost effective, multi-platform subscription service for all virtual event needs. Xcyte’s subscription offering boasts a range of compelling features that position it as a one-stop shop for all virtual event requirements. Xcyte enables seamless collaboration with any approved video application and leverages advanced technology to provide reliable streaming services, ensuring uninterrupted event execution. The platform has limitless integration capabilities and offers robust ecommerce functionality, supporting features such as pay-per-view options, invoicing, and multi-currency support. Xcyte’s analytics offering then delivers actionable insights on marketing, registration, participant data, sales reporting, and lead generation. The Company sets itself apart by providing “white glove services,” offering professional assistance throughout every stage of the event lifecycle, making virtual events as near a painless process as possible for clients. Leveraging spatial computing, data, and artificial intelligence, Xcyte facilitates immersive and interactive meetings and events, enhancing the overall experience for all stakeholders involved. https://bit.ly/3U0wHA8