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Tencent investment numbers plummet in 2023
In a notable shift, Chinese internet and gaming giant Tencent drastically reduced its investment activities last year. According to a report by the South China Morning Post, the company entered into 39 investment agreements with 37 businesses, focusing primarily on the video game, healthcare, and corporate services sectors, with seven of these investments targeting AI startups. This represents a …
Jan. 16, 2024, 10:29 a.m.
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Microsoft Surpasses Apple as World's Most Valuable Company
In a significant shift in the global market, Microsoft surpassed Apple to become the most profitable company following the close of the US trading session last Friday. According to a report by CNBC, this development was influenced by an event in San Francisco, where Microsoft discussed its advancements in artificial intelligence, including a notable surge in traffic on GitHub, which the company a…
Jan. 16, 2024, 10:14 a.m.
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Exploring AI Voice Acting and Gaming Saturation | Microcast Update
The latest GamesIndustry.biz Microcast episode is out, offered in both audio and video formats. Hosts James Batchelor and Chris Dring delve into key stories from the week, including the contentious deal between SAG-AFTRA and Replica Studios regarding AI voice acting in games. The conversation expands to the wider implications of AI technology, such as Steam's updated policies that will enable mos…
Jan. 15, 2024, 4:30 p.m.
News
Valve Requests Removal of Unofficial Nintendo 64 Portal Version
Following its release last week, the creator of the Nintendo 64 adaptation of Portal has been asked by Valve to discontinue the project. James Lambert, the developer behind the game, had been working on it since 2022 and initially made it available, but was subsequently contacted by Valve. According to Lambert, Valve requested the removal of the game due to its reliance on proprietary Nintendo li…
Jan. 15, 2024, 4 p.m.
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Double Loop Games Announces Closure
After a four-year run, Double Loop Games has decided to cease operations. According to a report by Game Developer, co-founder Emily Greer revealed the news in a LinkedIn post. Greer expressed her pride in the team, the culture they built, and the games they developed, but noted that the studio struggled to gain traction in a highly competitive funding and marketing environment, particularly for m…
Jan. 15, 2024, 3:52 p.m.
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Discover GamesIndustry.biz's Get into Games Initiative
GamesIndustry.biz is proud to launch its Get into Games special, a two-week series of articles and videos tailored to students seeking a career in the gaming industry. Sponsored by Wrexham University, this initiative offers daily articles covering a range of topics, including voice acting, art, production, technical roles, and lesser-known game careers. Additionally, a central article curates the…
Jan. 15, 2024, 1:05 p.m.
News
GameStop Shuts Down Cryptocurrency Platform
GameStop has initiated the process of shutting down its cryptocurrency marketplace, approximately one and a half years after its launch. In a notification posted on the NFT marketplace, the company declared that it is undergoing a shutdown of operations, with the platform set to close on February 2, 2024. Following this date, customers will no longer be able to purch…
Jan. 15, 2024, 11:43 a.m.
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Embracer Group's Lost Boys Interactive Studio Hit by Layoffs
A substantial number of employees at Lost Boys Interactive, a studio owned by Gearbox, have been let go. The news was shared on LinkedIn by former producer Jared Pace, who stated that a significant portion of the studio's workforce was affected. Pace noted that the layoffs impacted all departments and levels of the organization. The exact number of employees let go is currently unknown, with Game…
Jan. 15, 2024, 10:27 a.m.
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UK Games Sector to Benefit from Into Games' New Fundraising Initiative
A new fundraising campaign has been launched by Into Games to promote greater diversity within the UK gaming industry. The organization is seeking to raise £100,000 as part of its strategic plan for 2024. According to the nonprofit, this initiative will lay the groundwork for a more inclusive future, where individuals from all backgrounds can access opportunities in the UK gaming sector. The o…
Jan. 12, 2024, 4:15 p.m.
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Capcom Pledges $830,000 for Earthquake Relief Efforts
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Jan. 12, 2024, 3:33 p.m.