NEW YORK — Advanced Micro Devices Inc. (AMD) shares rose nearly five percent in premarket trading Wednesday following the company’s announcement of aggressive long term growth targets aimed at capturing a larger slice of the artificial intelligence chip market from market leader Nvidia. The Santa Clara, California based semiconductor company on Tuesday unveiled plans to … Read more
NEW YORK — Google has filed a lawsuit against what it alleges is a sprawling international network of text message scammers, signaling a major escalation in the tech industry’s battle against digital fraud. The lawsuit, filed Wednesday in the US District Court for the Southern District of New York, targets a group Google calls “Lighthouse,” … Read more
MOSCOW — The Kremlin said Wednesday that contact between Britain’s national security adviser and a senior Russian foreign policy aide failed to develop into meaningful dialogue, underscoring the deep chill between Moscow and Western capitals over the war in Ukraine. Kremlin spokesman Dmitry Peskov confirmed that talks took place between Jonathan Powell, Britain’s national security … Read more
BEIJING — China is intensifying efforts to protect its technology industry from the growing impact of US chip restrictions, as the country faces worsening shortages of advanced semiconductors vital for artificial intelligence and high performance computing. According to people familiar with the matter, Beijing has started directing how the output of Semiconductor Manufacturing International Corp. … Read more
NEW YORK — Advanced Micro Devices Inc. (AMD) forecast Tuesday that its profit will more than triple by 2030, as the company expects explosive growth in the global data center chip market, projected to reach $1 trillion within the decade. At its first analyst day in three years, held in New York, AMD said it … Read more
NEW YORK — The Dow Jones Industrial Average surged more than 500 points Tuesday to close at a record high, buoyed by growing optimism that Washington is nearing an end to the record breaking government shutdown. But the broader US market showed mixed results, as a sell off in technology shares led by Nvidia dragged … Read more
BERLIN — Google will invest around 5 billion euros $5.8 billion in Germany to expand its data center network and digital infrastructure, according to sources familiar with the matter. The investment, among the company’s largest in Europe, underscores Google’s growing commitment to strengthen its presence in the continent’s largest economy and advance its climate neutral … Read more
LONDON— The United Kingdom’s unemployment rate rose to 5 percent in the three months ending in September, the highest level since early 2021, official figures show, signaling a weakening labor market amid ongoing economic pressures. The Office for National Statistics reported the rise in unemployment came in above the 4.9 percent projected by many analysts … Read more
TOKYO — Japanese conglomerate SoftBank Group Corp. announced Tuesday that it has sold its entire stake in Nvidia Corp., raising approximately $5.8 billion, a move designed to support its growing investments in OpenAI and artificial intelligence ventures. The sale, executed in October, is part of SoftBank’s broader strategy to redirect resources toward emerging AI platforms … Read more
BEIJING — China is planning to expand market access, particularly in the services sector, offering new investment opportunities to foreign companies including those from the United States, senior Chinese trade negotiator Li Chenggang said Tuesday. The announcement, made through a statement from the Ministry of Commerce, reflects Beijing’s ongoing efforts to strengthen economic engagement with … Read more