CLOUD GROWTH

China dismisses 'Chinese spy' narrative in Nvidia CEO Jensen Huang probe; calls it 'unsubstantiated'

Nvidia CEO Jensen Huang is being investigated for possible ties to a Chinese intelligence operation. China dismissed the claims as unsubstantiated during a recent foreign ministry briefing. The investigation follows allegations that Huang shared information with a suspected Chinese intelligence asset. Nvidia is working with an independent committee to assess the situation. The firm's board remains confident that national security and company secrets are not compromised.

Norway reins in data centre industry amid AI boom

Norway produces more power than it consumes and is a net exporter, but recent projections show that demand from new data centres could lead to an energy deficit and rising electricity prices in the coming years.

Nvidia board probes whether CEO Jensen Huang was targeted in Chinese intelligence operation

Nvidia's board has launched an independent investigation into allegations that CEO Jensen Huang may have been targeted by a Chinese intelligence operation through former Megaspeed executive Alice Huang. The probe will assess potential exposure of confidential information and national security risks amid escalating US-China technology tensions. Nvidia says it has found no evidence of compromised secrets.

AI rout, energy costs add to fears of slowing global growth

Global markets face mounting pressure from persistent inflation, rising borrowing costs and concerns over slowing economic growth. Elevated energy and food prices are fuelling inflation fears, while an AI stock selloff threatens investor confidence. Weakening European data and uncertainty over the Iran war are adding to concerns about the global economic outlook.

Foxconn posts highest-ever monthly revenue in October, up 45.73 pc YoY on AI demand

According to the company's unaudited monthly revenue report released on Thursday, October revenue increased 12.66 per cent from NT$1.159 trillion (USD 35.18 billion) in September 2026, marking the highest single-month revenue in Foxconn's history.

GCCs ramp up hiring for AI, data, cybersecurity professionals; face talent shortage: Report

India's GCCs are directing a greater share of technology recruitment towards specialists who can deploy AI, manage data and secure enterprise systems, according to the India GCC Tech Talent Landscape - Q2 FY27 Report by staffing and workforce solutions provider Quess Corp.

Amagi’s Q2 revenue grows 27% to Rs 476 crore, profit spikes nearly 30x

The Bengaluru-based company, which provides cloud-based solutions to broadcasters and streaming platforms, reported a 114% increase in adjusted Ebitda to Rs 89 crore in Q2 FY27, from Rs 42 crore in the year-ago quarter. Its adjusted Ebitda margin expanded to 18.7% from 11.1% a year earlier.

AI, data, cybersecurity lead tech hiring with 30.3% share in September quarter

In India, the demand for roles in AI, data, and cybersecurity within Global Capability Centers (GCCs) has surged, even amid a slight overall hiring decline. AI and data professional roles saw a 14% increase quarter-on-quarter, while cybersecurity positions grew by 12%. Notably, tier-2 cities like Coimbatore achieved a remarkable 30% growth. By 2030, the GCC workforce in India is projected to reach between 2.7 and 2.8 million.

Lenskart Q2 net profit more than doubles to Rs 232 crore, revenue rises 36%

The company’s net profit rose 125% to Rs 232 crore, compared with Rs 103.45 crore in the year-ago period. Profit before tax more than doubled to Rs 304.48 crore from Rs 148 crore a year earlier. The company's total expenses increased 31.1% — slower than its revenue growth — to Rs 2,596.8 crore, helping drive the improvement in profitability.

Google loses nearly half a trillion in market value: What went wrong with Alphabet?

Alphabet lost $482 billion in market value after its shares plunged nearly 13% following disappointing third-quarter results. Despite 103% growth in Google Cloud and more than 1 billion Gemini users, weaker search revenue and negative free cash flow raised fresh concerns about AI spending and Google’s advertising business.

Meta kicks off first euro bond sale in latest test for tech sector

Meta Platforms has initiated a significant bond sale, marking its first offering of euro-denominated bonds aimed at financing its investments in AI and infrastructure development. In addition, the tech giant plans to raise $15 billion through a US dollar bond offering this week. Despite ongoing concerns about growth in the AI sector and regulatory challenges, technology companies continue to pursue funding opportunities.

Meta raises $15 billion in five-part US bond sale

The tech giant's offering adds to a wave of fundraising as companies raise fresh capital to finance AI data centers, computing capacity and cloud expansion, despite traditionally relying on cash-rich balance sheets to fund growth.

IT firms turn to acquisitions to boost revenue growth

The contribution rose to $147-148 million in the July-September period, reflecting a full quarter of consolidation. The acquisition has therefore become a significant part of the firm’s reported revenue base.

Why is Microsoft borrowing $25 billion after offering buyouts to 60,000 employees?

Microsoft 25 billion bond sale: Microsoft is raising $25 billion through a bond sale as AI infrastructure costs rise, days after offering voluntary buyouts to nearly 60,000 employees. The company expects up to 3,000 employees to accept the exit offer as it prepares to spend $175 billion on capital expenditure in 2026.

NTT Data to nearly triple Mangaluru workforce to over 2,500 by 2027

The company entered Mangaluru through its acquisition of local cloud engineering company Niveus Solutions, and is looking to use the city as a base for developing specialised technology capabilities. Its focus areas include healthcare and life sciences, automotive, manufacturing, high technology, AI and data.

Nasdaq faces $2 trillion wipeout in October as AI spending fears deepen

The wipeout would amount to slightly more than SpaceX's entire market value. The index has fallen over 5.8% so far in October as the AI trade ran into turbulence, with hyperscalers Meta Platforms, Alphabet and Amazon.com raising spending forecasts further as they race to expand AI infrastructure.

Google's Nvidia chip challenge boosts cloud sales, crimps cash flow

The trade-off, outlined by finance chief Anat Ashkenazi on Alphabet's post-earnings call on Wednesday, offers an early look at the costs of a business that has emerged as one of the company's biggest growth areas as investors fret over AI's threat to its lucrative search advertising business.

Microsoft, Oracle outshine Alphabet as investors demand AI returns

Wall Street increasingly favours technology companies demonstrating financial discipline in AI investments. Microsoft and Oracle gained on strong cash flow prospects, while Alphabet shares plunged amid rising capital expenditure and slower search growth. Investors are prioritising sustainable returns, profitability and cash generation over aggressive artificial intelligence infrastructure expansion.

Big Tech earnings: Microsoft, Google see cloud revenues surge

Microsoft's total revenues hit $92.3 billion against expectations of $90.6 billion, with profits of more than $36.6 billion versus the $35.1 billion analysts had forecast, according to FactSet.

Alphabet's heavy cloud spending drives bigger-than-expected cash burn

The company reported negative free cash flow of $9.07 billion, compared with analysts' estimate of a cash burn of $36 million, according to data compiled by LSEG.

Microsoft beats expectations fueled by Azure cloud business

Microsoft has unveiled its impressive financial performance, reporting a revenue of $92.3 billion and profits soaring past $36.6 billion. The Azure cloud services experienced a remarkable growth of 48%, driven by an increasing demand for AI technologies. In a strategic move, the company has offered voluntary buyouts to 60,000 employees while continuing to innovate hardware aimed at enhancing AI capabilities.

Alphabet stocks slide after earnings miss: 7 key takeaways

Microsoft beats expectations fueled by Azure cloud business

Microsoft shares popped more than five percent Wednesday afternoon after it reported better than expected revenue and profit, fueled by its Azure cloud computing division which grew by 48 percent in the September quarter. However, Google on Wednesday reported that revenue from its cloud division doubled to $30.7 billion during the quarter, bringing it closer to Microsoft's Azure revenue, which reached $33.2 billion in the same period.