TECH GIANTS
Intel's former CEO Pat Gelsinger says this Georgia Tech memory chip could be the industry's biggest breakthrough in 30 years; what is it and how could it transform AI industry?
Nagare Labs was founded by Georgia Institute of Technology professors and researchers Suman Datta and Shimeng Yu. They spent years working on next-generation memory technologies. Their work involves oxide semiconductors. The company is based on research conducted at Georgia Tech and is seeking to turn its laboratory developments into a commercially viable memory product.
Deepinder Goyal teases big reveal on Temple, will explain 'why I left $35 billion Eternal for Temple'
Deepinder Goyal has revealed his upcoming departure from Eternal to pursue Temple, a health wearable startup. He plans to provide a detailed note explaining his decision and the vision for Temple. Goyal's message will also address the startup's objectives and what it aims to achieve for humanity's betterment. Additionally, he has expressed his discontent towards certain doctors who criticize the health sector. Goyal is expected to share this information shortly.
AI selloff hits India too: TD Power, HFCL, Sterlite, other power capex-linked stocks crash up to 15%
Indian power capex and AI-linked stocks tumbled as a global technology sell-off spread across markets, with TD Power and Thermax plunging 15% each. Concerns that US midterm election results could slow data centre expansion and AI infrastructure spending triggered sharp losses across Asian technology stocks and domestic market-linked companies.
Google sued over suicide-related AI chats on school computer
The parents of a 13-year-old girl have sued Google claiming she planned a potential suicide and funeral using its AI technology on a school-issued computer. Developers of fast-evolving AI technology are facing a litany of similar lawsuits in the US. OpenAI faces several wrongful death suits, including from the parents of 16-year-old Adam Raine, a teenager who committed suicide allegedly using methods advised by ChatGPT. Google and the startup Character.
Big tech, green groups in talks over data center guardrails
The "Responsible Data Center Collaborative" counts Google, Meta, Microsoft, Oracle, Amazon, Nvidia and Anthropic among its members, alongside environmental stalwarts the Natural Resources Defense Council (NRDC), World Wildlife Fund (WWF) and Sierra Club.
Global Market Today: Asian stocks join US selloff as AI slump deepens
South Korea’s tech-heavy Kospi Index slid 8.8% in early trading, triggering a circuit breaker, with chipmakers Samsung Electronics Co. and SK Hynix Inc. both plunging more than 9%. Japan’s benchmark Nikkei 225 Stock Average lost 6.2%, while the MSCI Asia Pacific Index declined 2.9%. Futures pointed to losses in Taiwan, Hong Kong and China.
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Delhi Police files FIR against Meta India over child sexual abuse material on its platforms
In response to directives from the National Human Rights Commission, Delhi Police has launched an FIR against Meta India, concerning the alarming presence of Child Sexual Exploitation and Abuse Material on its platforms. This follows previous summons from the National Commission for Protection of Child Rights. As a proactive measure, Meta India is now coordinating with the Indian Cyber Crime Coordination Centre to report child safety violations.
After taking voluntary buyout offer in Google and returning laptop, she ran 7 miles home. Her 2027 prediction and unusual career journey is intriguing
Former Google employee Kristin Furdak Smart, after a fulfilling decade with the company, opted for a voluntary exit program. Joining in 2007 and returning in 2017, she played a key role in numerous employee training initiatives. Celebrating her departure with an energetic seven-mile run home, she whimsically hinted at a potential comeback in 2027, showcasing her playful spirit and dedication to an active lifestyle.
Google unveils $15 billion data centre investment in Malaysia
Google announced plans on Wednesday to invest $15 billion in Malaysia over the next two years to build data centres and other infrastructure as demand booms for artificial intelligence services. It said the $15 billion investment will be made "over the next two years (2027 to 2028)", expanding on a $2 billion investment announced in 2024.
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.
Apple drops with most of Wall Street, but gains for other Big Tech stocks cushion the blow
The stock market has been shaky recently as technology and artificial-intelligence stocks have swung on worries their prices shot too high in the frenzy around AI. Several of the most influential AI-related stocks held firmer Tuesday, which supported the market, after flipping from gains in the morning to losses in the afternoon a day earlier.
Apple shares slide as higher memory costs fuel margin concerns
The iPhone maker has benefited from using memory purchased at lower prices, but that advantage is expected to diminish over time, leaving more of its purchases exposed to higher prices.
Europe stocks slip on AI concerns, escalating Iran tensions
Asian tech benchmarks came under pressure earlier in the day as investors reassessed the sustainability of the AI-driven rally following disappointing results from major US hyperscalers in the previous week, raising concerns that the sector has become overvalued globally.
US tech giants' AI borrowing could push up Europe's bond yields
Rising AI infrastructure investments are driving US technology giants to tap European bond markets, potentially increasing borrowing costs. Alphabet, Meta, Amazon and Microsoft are expected to boost debt issuance, intensifying competition for investor capital and putting pressure on corporate credit spreads and European government bond yields.
Meta halts new business terms after backlash over data scraping and AI use
Meta has postponed the rollout of new terms affecting its business accounts due to significant backlash. Critics claimed these changes could lead to unauthorized data scraping and unfair competition against news publishers. A Norwegian court granted an injunction on the terms, highlighting concerns over Meta's market dominance. The U.K. competition authority has also initiated an investigation into these new business conditions.
Meta eyes at least $20 billion from potential bond offerings, Bloomberg News reports
Meta is reportedly looking to raise at least $20 billion through a cross-border bond offering to fund its expanding AI infrastructure. The potential debt sale follows its planned $97.5 billion equity fundraising, highlighting how major technology companies are increasingly tapping debt and equity markets to finance their artificial intelligence ambitions.
Marvell to buy Lumentum in $115 billion deal in AI data-center bet
Marvell Technology is poised to acquire Lumentum in a groundbreaking all-stock transaction worth $115 billion. This strategic acquisition is intended to position Marvell more competitively against Broadcom in the rapidly growing AI sector. With this expansion, Marvell anticipates boosting its optical components production to satisfy the escalating demand in data transfer spurred by AI innovations in data centers.
Apple stock price down: Why is AAPL share price falling ahead of earnings call, iPhone sales report?
US stock market has largely priced in a Democratic win in the House of Representatives but hasn't adopted a decisive view on the Senate. Apple earnings report is coming a day ahead of Election Day.
Apple plans major iPad refresh in 2027, new iPad Air and Pro models expected: Report
Apple is expected to refresh its iPad models, including the iPad Air, iPad Pro, and entry-level iPad. The upgrades aim to incorporate OLED displays and increased processing power. Additionally, a cooling system will help manage heat during intense tasks. The entry-level iPad will also see improvements, though specifics remain unclear. Major iPad updates are not anticipated in the latter half of 2027.
US stock futures rise as AI stocks catch their breath; midterms in focus
In the US, stock futures surged as investors prepare for the upcoming midterm elections and await earnings announcements. Major tech players, such as Alphabet and SpaceX, enjoyed premarket boosts. Estee Lauder's optimistic sales and profit outlook added to market enthusiasm. However, caution prevails as investors weigh the potential consequences of congressional control post-elections. Additionally, falling oil prices eased worries over supply issues in the Middle East.
First Apple Intelligence features land in China, with Alibaba’s Qwen on board
The tech giant has partnered with Alibaba to bring its Qwen model into some of the experiences. Chinese users will be able to use Qwen through Siri, Writing Tools, and Visual Intelligence, enabling text and image understanding. Users can access it by signing in with a Qwen account or through Apple, the company said in a blog post.
Saudi Aramco takes 49% stake in AI firm Humain, commits $2.6 billion
Saudi Aramco has announced its acquisition of a 49 percent stake in the AI company Humain. This investment aims to accelerate Humain's growth and advance its AI capabilities both regionally and globally. The Public Investment Fund will retain a 51 percent ownership in Humain. Additionally, Aramco plans to inject approximately 9.9 billion Saudi riyals into the company this year.
Wall Street tech rout deepens on doubts over AI spending
Major US tech stocks have taken a hit as investors react to underwhelming earnings and worries about AI spending. Giants like Microsoft, Amazon, and Alphabet revealed hefty investments in AI systems along with rising debt. Intel's troubles intensified with a disappointing revenue outlook, driven by costly components and fierce rivalry.
Microsoft expects to raise $25 billion in US bond sale, source says
The world's largest tech firms have turned to selling bonds and raising equity over the past year to pay for their AI spending spree, a shift in approach for the Silicon Valley giants that have typically relied on their large coffers to fund investments.
Amazon burns cash, Intel flags weak PC demand as AI boom's costs ripple across markets
As Wall Street grows increasingly anxious about AI-related expenditures, major tech giants like Amazon and Intel display alarming financial outcomes. With soaring operational costs and waning consumer interest, both companies face challenging cash flow situations, resulting in borrowing to cover rising expenses. This situation has led to declines in semiconductor and AI cloud shares as investors question future profitability, sparking fears about the tech sector's growth sustainability.
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.
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.
US agency approves Amazon Leo's $11.5 billion acquisition of Globalstar
The Federal Communications Commission said Tuesday it has approved Amazon Leo's $11.5 billion deal to acquire Globalstar as the retail giant's satellite arm aims to build a satellite-based communications network to take on Elon Musk's SpaceX Starlink unit.
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