By Stephen Nellis MENLO PARK, California (Reuters) – Oracle Corp is spending “billions” of dollars on chips from Nvidia Corp as it expands a cloud computing service targeting a new wave of artificial intelligence (AI) companies, Oracle founder and Chairman Larry Ellison said on Wednesday. Oracle’s cloud division is working to gain ground against larger…
By Greg Bensinger and Diane Bartz SAN FRANCISCO/WASHINGTON (Reuters) -The leaders of Microsoft and Activision Blizzard on Wednesday sought to allay antitrust concerns that a proposed $69 billion merger of the two companies would unlawfully concentrate power, with Microsoft CEO Satya Nadella saying that making Activision games exclusive would make “no strategic sense.” The Federal…
By Akash Sriram (Reuters) -Micron Technology beat estimates for third-quarter results on Wednesday, powered by demand for its memory chips from the rapidly-growing artificial intelligence sector and an easing supply glut in its traditional PC and smartphone markets. Shares of the company rose more than 2% in trading after the bell. They have gained 34%…
(Reuters) – BlackBerry posted a surprise profit for the first quarter on Wednesday as its cybersecurity business benefited from higher client spending, while its enterprise software continued to gain traction in automotive sector. U.S.-listed shares of the company rose 5.79% in extended trading. The Canadian technology company is banking on resilient demand for its cybersecurity…
By Jose Luis Gonzalez and Steve Gorman TRUTH OR CONSEQUENCES, New Mexico (Reuters) – A three-man crew from Italy is set on Thursday to board a passenger rocket plane operated by Virgin Galactic, the venture British billionaire Richard Branson founded in 2004, for the company’s first commercial flight to the edge of space. The two…
By Jamie McGeever (Reuters) – A look at the day ahead in Asian markets from Jamie McGeever, financial markets columnist. The cold reality of ‘higher for longer’ interest rates that cooled investor sentiment on Wednesday will lend a cautious tone to Asian trading on Thursday, with investors also wary of potential action from Tokyo and…
(Reuters) -Nvidia’s financial chief said restrictions on exports of artificial intelligence chips to China “would result in a permanent loss of opportunities for the U.S. industry” though the company expected no immediate material impact. U.S. officials are considering tightening an export control rule designed to slow the flow of AI chips to China by clamping…
By Akash Sriram and Noel Randewich (Reuters) -Apple’s stock climbed to a record high close on Wednesday and was on the cusp of a $3 trillion market capitalization. The iPhone maker’s stock rose 0.6% to end the day at $189.25, putting Apple’s market value at $2.98 trillion, according to Refinitiv data. It was the second…
SEOUL (Reuters) – Confidence among South Korea’s services sector firms has continued to improve, with their outlook for July the most optimistic in nine months, but manufacturers turned a bit pessimistic, a central bank survey showed on Thursday. The business outlook index for the services sector rose to 78 for July on a seasonally-adjusted basis,…
By Medha Singh (Reuters) – Shares of U.S. chipmakers fell on Wednesday following reports that the Biden administration was planning new curbs on export of computing chips for artificial intelligence to China as early as July. Companies such as Advanced Micro Devices, Nvidia and Intel, which rely on the world’s second-largest economy for at least…
