Latest in AI demand drives growth and higher spending at Amazon’s cloud business
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Oil prices end higher on surprise fall in U.S. crude supply, rise in gasoline demand
Oil futures finished higher Wednesday, with official U.S. data showing a surprise decline in crude supplies in the latest week and strength in gasoline demand, prompting prices to post their first ...Business - MarketWatch - Yesterday -
Chinese AI groups get creative to drive down cost of models
01.ai, Alibaba and ByteDance have cut ‘inference’ costs despite Washington curbs on accessing cutting-edge chipsWorld - Financial Times - October 19 -
Enterprise AI moves from ‘experiment’ to ‘essential,’ spending jumps 130%
Wharton research shows dramatic surge in enterprise AI adoption, with spending up 130% and smaller companies leading in implementation rates.Tech - VentureBeat - 3 days ago -
Meta sees AI spending accelerating as earnings top forecasts
Mark Zuckerberg cites the potential for ‘strong’ returns in coming years on heavy investments in new technologyBusiness - Financial Times - 12 hours ago -
Even Mark Zuckerberg seems surprised by Meta's pace of spending on AI
Meta CEO Mark Zuckerberg explained on the earnings call how the speed of Meta's AI technology buildout led the company to lift guidance for capex.Business - CNBC - Yesterday -
Google’s AI-Fueled Results Bode Well for Rivals Amazon and Microsoft
Sales gains in its cloud business point to growing, sustained demand for AI-juiced computing power.Business - Inc. - Yesterday -
Amazon reports boost in quarterly profits, exceeds revenue estimates as it invests in AI
Amazon reported a boost in its quarterly profits Thursday and exceeded revenue estimatesTech - ABC News - 5 hours ago -
Dan Loeb’s Third Point says a Trump win would boost markets, drive up infrastructure spending
Third Point said it believes the Republicans will take control of both the White House and the Senate, leading to deregulation, an increase in U.S. manufacturing, and higher infrastructure spendingBusiness - MarketWatch - October 18 -
PS5 SSD Lightning Deal At Amazon: Snag A 1TB Drive For $60 Or 2TB For $110 While Supplies Last
XPG Gammix S70 Blade PS5 SSD $60 for 1TB | $110 for 2TB | $224 for ...Tech - GameSpot - October 17 -
Generative AI startups get 40% of all VC investment in cloud amid ChatGPT buzz
Venture capital firm Accel says that funding for cloud startups is set to rise 27% in 2024 thanks to a boost from AI — the first year of growth in three years.Business - CNBC - October 16 -
Peter Thiel’s Founders Fund leads $500mn fundraising for AI cloud group Crusoe
Deal values infrastructure start-up at $3bn as it benefits from spending surge on generative AIBusiness - Financial Times - 2 days ago -
ASML results could provide insight into AI, China demand
ASML Holding, the Dutch company that makes the chip-making machines used by the major players in the semiconductor industry, is on Wednesday due to report results that could provide some insight ...Business - MarketWatch - October 15 -
TSMC beats forecasts with 54% surge in profits on soaring AI demand
Taiwan Semiconductor Manufacturing Co said its sales were boosted by strong demand from smartphone makers and artificial intelligence firmsBusiness - MarketWatch - October 17 -
Nvidia and Apple supplier TSMC shares pop after quarterly profit soars on AI demand
TSMC, the world’s largest producer of advanced chips, posted a 54% hike in third-quarter profit.Business - CNBC - October 18 -
Nuclear energy stocks hit record highs on surging demand from AI
Amazon and Google deals to deploy small modular reactors are latest step in sector’s revitalisationBusiness - Financial Times - October 20 -
SK Hynix Profit Momentum Continues on AI-Chip Demand
SK Hynix posted record earnings in the third quarter as it continued to ride strong demand for powerful computing chips to support artificial-intelligence applications.Tech - The Wall Street Journal - October 23 -
Bangladesh’s leader says ‘no place’ for Sheikh Hasina’s ‘fascist’ party
Muhammad Yunus says will not seek exiled leader’s extradition from India before domestic tribunal’s verdictWorld - Financial Times - 2 days ago -
Hospitals in firing line of forgotten war
Sudan’s brutal civil war is taking a devastating toll on the country’s health facilitiesWorld - Financial Times - Yesterday -
Why EU defence and security policy will stay in the hands of capitals
Also in this newsletter: wading into France’s budget messWorld - Financial Times - Yesterday -
TSMC CEO says AI is not in a bubble and its growth is for real
the chief executive of contract manufacturer Taiwan Semiconductor Manufacturing Co. says the artificial intelligence revolution is for real.Business - MarketWatch - October 17 -
Pearson Underlying Sales Rise, Plans Further Growth Through AI
Pearson delivered higher underlying sales for the third quarter, supported by growth across all divisions, and said it planned to accelerate its artificial-intelligence capabilities to drive ...Business - The Wall Street Journal - 2 days ago -
AMD shares fall as forecast fails to impress despite strong AI growth
AMD shares are up about 20% so far in 2024, although rivals such as Nvidia and Broadcom have had much greater gains during the same period, driven by AI chips.Business - CNBC - Yesterday -
Google launches NotebookLM Business to make enterprise AI audio, text
A paid version of the increasingly popular Google tool NotebookLM will target businesses.Tech - VentureBeat - October 17 -
IBM says AI business is rapidly growing, but that’s not enough to help the stock
IBM’s stock is falling despite a profit beat for the third quarter, as consulting revenue came in flat and infrastructure revenue declined.Business - MarketWatch - October 24 -
OpenAI Will Send Its Next AI to Businesses Before a Public Release
A leader in AI technology may soon make a giant leap forward, but this time, select companies will get their hands on its next-generation model before you do.Business - Inc. - 6 days ago -
Philip Morris is a growth stock again as shares hit all-time high on Zyn demand boom
The company's stock was tracking for a record close and clinched a fresh intraday record.Business - CNBC - October 22 -
Global public debt to hit $100tn this year, says IMF; Boeing to raise up to $25bn to shore up balance sheet – business live
Rolling coverage of the latest economic and financial news, as IMF warns that future debt levels could be higher than currently projected. Cooling labour market adds to Reeves’s tax-raising ...World - The Guardian - October 15 -
Volkswagen fined £5.4m for mistreating customers; UK interest rates ‘to fall to 2.75%’ next year – business live
Volkswagen Finance has agreed to pay over £21.5m in redress to around 110,000 customers who may have suffered harm because of its failings.. Volkswagen Financial Services has apologised for the ...World - The Guardian - October 21