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AMD share buyback: Chip major Advanced Micro Devices offers $6 billion program
In Humain's deal with AMD, the agreement includes a plan to invest up to $10 billion to deploy 500 megawatts of AI hardware infrastructure over five years.
US tech firms Nvidia, AMD secure AI deals as Trump tours Gulf states
US tech giants, including Nvidia, AMD, and Qualcomm, announced major AI deals in the Middle East during President Trump's Gulf tour, securing $600 billion in commitments. Saudi-backed startup Humain will deploy massive AI infrastructure. The US and Saudi Arabia aim to co-lead global AI innovation and economic transformation.
Alphabet shares take $120 billion blow as search warnings blare
Google parent Alphabet Inc. faces growing investor concerns as Apple explores AI integration in its Safari browser, potentially impacting the internet major's lucrative search engine deal. A drop in Safari searches fuels fears that rivals like OpenAI are eroding Google's market share, causing a significant stock selloff.
US' economic contraction something of a head fake - for now
US Q1 Economic Contraction: Despite a first-quarter contraction driven by tariff-related import surges, the US economy shows resilience. Consumer spending remains steady, supported by a stable labor market through April. While businesses express concerns, capital expenditure plans, particularly among tech giants investing in AI, remain largely unchanged. Major investment and labor decisions are being delayed, awaiting greater policy clarity later in the year.
Meta, Microsoft reports lift AI-related stocks
Following strong earnings reports from Meta and Microsoft, shares in AI and cloud computing companies surged on Wednesday. Microsoft's shares jumped over 6% due to strong Azure cloud growth, while Meta's rose more than 4% as AI-powered tools boosted advertising revenue. Nvidia increased 2.8%, Advanced Micro Devices increased 2%, and Amazon increased 3%.
Snap holds off Q2 guidance on macro threats to ad revenue
Snap, the parent company of Snapchat, did not provide formal guidance for the second quarter citing economic uncertainty, even as the company's first-quarter revenue exceeded expectations. Revenue grew by 14% to $1.3 billion. Daily active users also increased by 9% to 460 million. Ad revenue for the period rose 9%, primarily driven by direct advertising.
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Asian stocks rise with earnings, economic data in focus
Australian and Japanese shares climbed at the open and equity-index futures for Hong Kong pointed to a moderate gain. US stock futures edged lower after Super Micro Computer Inc. tumbled in late trading on a disappointing update. Treasuries extended this month’s advance, with 10-year yields falling for a seventh day. The dollar was little changed after strengthening on Tuesday. Gold rose and oil dropped.
Trucks and tariffs are a disastrous combination for big auto
Chinese companies like BYD and CATL are leading the electric vehicle revolution with innovations like ultra-fast charging, posing a significant challenge to US automakers. While EVs gain global market share, China dominates battery technology and offers cheaper models. The US auto industry faces disruptions from EVs, advanced driver-assistance systems, and China's growing dominance, potentially leading to Detroit's decline.
Google parent Alphabet kicks off sale of debut euro bonds
Alphabet Inc. is set to raise at least 2.5 billion through a debut euro bond sale, following a $5 billion debt sale in the US. The offering includes a five-part deal with maturities ranging from four to 29 years. Proceeds will be used for general corporate purposes, including repaying debt, potentially lowering capital costs and supporting future investments.
IIT graduate and ex-Accenture techie, meet Google’s Sundar Pichai’s wife Anjali Pichai. Check out her education qualifications and career
The article highlights Anjali Pichai's role in Sundar Pichai's success. Anjali, a chemical engineer, met Sundar at IIT Kharagpur. She worked at Accenture and Intuit. Anjali advised Sundar to stay at Google when he received other offers. This decision proved pivotal. Sundar became Google's CEO in 2015 and Alphabet Inc.'s CEO in 2019. Anjali's support was crucial for his journey.
DeepMind scientist calls LLMs 'exotic mind-like entities': Why the future of AI needs a new vocabulary?
DeepMind Principal Scientist Murray Shanahan describes large language models (LLMs) as "exotic mind-like entities," highlighting our lack of vocabulary to define them. In a video clip on Instagram, Shanahan’s insights reflect how AI is becoming increasingly mind-like yet remains fundamentally different. His comments underscore the urgent need for new conceptual frameworks as AI rapidly evolves.
Google says deep AI investments powering ad sales, soothing anxious investors
Alphabet beat Q1 profit and revenue estimates, boosted by strong ad and AI-driven search performance. It announced a $70 billion stock buyback, lifting shares 4%. Despite global economic concerns and US-China trade tensions, Alphabet reaffirmed its $75 billion AI investment plan, signaling confidence in continued growth and infrastructure expansion.
GIFT Nifty up 130 points; here's the trading setup for today's session
Indian equities experienced a slight downturn after a week-long rally, with the Nifty closing lower due to cautious investor sentiment and mixed global signals. Market direction will likely be influenced by global cues and upcoming Q4 corporate earnings.
Asian stocks rise on Fed rate-cut hopes, Alphabet solid earnings
Shares in South Korea gained 1.1% after Treasury Secretary Scott Bessent said the US may reach an “agreement of understanding” on trade as soon as next week. Equities in Japan advanced 1% after the S&P 500 jumped Thursday to the highest since the day President Donald Trump announced his tariff offensive. Gold and a gauge of the dollar edged up.
Wall Street wobbles: Futures drop after China confirms no talks with U.S., demands total tariff rollback now
US stock futures fall sharply as China unexpectedly shuts down trade talks, demanding a full rollback of tariffs before negotiations can resume. This shocking move reignites fears of a trade war, shaking Wall Street after two days of gains. Dow, S&P 500, and Nasdaq futures all dipped early Thursday, with tech stocks and global markets reacting fast. Investors are left wondering what comes next as market uncertainty grows. Experts advise sticking to quality stocks and keeping an eye on key sectors. Here’s what’s really going on behind the scenes and what investors should watch closely.
Pixel moves to India; A91's largest fund
In the wake of US tariffs, Google is shifting Pixel manufacturing from Vietnam to India. This and more in today’s ETtech Top 5.
Vietnam stole a march on India. It's India's time now
Alphabet is planning to shift some Google Pixel production from Vietnam to India, aiming to de-risk amid US tariff threats. This marks a significant turn, as Vietnam had been the biggest winner of the “China Plus One” strategy after Covid disrupted Chinese supply chains. The move signals India’s growing role in global electronics manufacturing, especially for US-bound devices.
AI can be 'end of disease' within next decade, says Google DeepMind CEO Demis Hassabis
Google DeepMind CEO, Demis Hassabis, a Nobel laureate, envisions AI revolutionizing healthcare, potentially curing all diseases within a decade. Their AI model has already drastically accelerated protein structure deciphering. Hassabis believes AI can significantly shorten drug development timelines, from years to months or weeks.
Alphabet Inc shifts Google Pixel production from Vietnam to India amid US tariff concerns
Alphabet is in discussions with Dixon Technologies and Foxconn to shift Google Pixel smartphone production to India, particularly for US-bound devices, due to potential tariffs on Vietnam. The company aims to mitigate sourcing risks and is exploring localizing components within India.
Did Elon Musk abandon Trump during his $239 million inauguration fundraising? What we know
President Donald Trump raised $239 million for his inauguration in January, nearly four times the $62 million Joe Biden raised in 2021. Tech companies like Meta, Amazon, and Google each gave $1 million. But the federal election commission filing shows that Elon Musk did not donate any money for President Trump's inauguration.
Google set to battle US government over search monopoly case
Google faces an existential threat as US courts consider remedies for its illegal search monopoly, including banning exclusive deals, forcing data sharing with rivals, and potentially selling Chrome. The outcome, following landmark antitrust rulings, could reshape the tech landscape, though Google plans to appeal any adverse decision
Big Tech's "Magnificent Seven" heads into earnings season reeling from Trump turbulence
Big Tech’s “Magnificent Seven” have lost $3.8 trillion in value since Donald Trump’s January 20 inauguration, as tariffs and regulatory actions fuel uncertainty. Tariff threats, antitrust lawsuits, and export bans have battered supply chains and profits, leaving tech giants scrambling to reassure investors during this turbulent earnings season
US assets decline amid tariff, Fed consternation
The dollar weakened against its major peers with euro among the outperformers. The yen climbed to the strongest level against the greenback since September. Treasuries dropped and equity-index futures for the S&P 500 and the Nasdaq 100 retreated. Japanese stocks fell at the open.
Perplexity AI in talks to integrate assistant into Samsung, Motorola phones
Perplexity AI is pushing to expand its presence on smartphones, securing a deal with Motorola to preload its assistant and in early talks with Samsung for deeper integration. Backed by Samsung’s investment arm, Perplexity aims to boost brand visibility and challenge AI leaders like Google and OpenAI, targeting an $18 billion valuation.
Japan's anti-monopoly watchdog accuses Google of violations in smartphones
The Japan Fair Trade Commission's "cease and desist order" says Google must stop the pre-installation of the Google search engine in Android smartphones, which it said in effect shuts out competition.
TCS, Accenture, and Infosys are the top three companies to grow your career in India, says LinkedIn report
LinkedIn has revealed its 2024 Top Companies list for India. Tata Consultancy Services leads the ranking. Accenture and Infosys secured second and third positions respectively. The list identifies the 25 best workplaces for career growth. It considers factors like employee skill development and promotions. Fidelity Investments and Cognizant are also among the top five.
Trump tariffs wipe out $2 trillion from US stock market
Approximately $2 trillion was wiped from the S&P 500 Index as new tariffs by President Trump raised fears of a recession. Apple, Nike, and other companies heavily dependent on overseas manufacturing saw steep declines. The levies could upend global supply chains, increase inflation, and depress consumer spending.
US tech, retail stocks lead rout after Trump's tariff blow; Apple shares down 9%, Amazon 7%
President Trump's new tariffs have led to a global market meltdown, impacting major U.S. tech companies like Apple and retail giants such as Walmart and Nike. The 10% baseline tariff on all imports has spiked costs across industries, destabilizing global supply chains and raising recession risks. Tech and retail sectors, along with banks and auto industries, are facing significant losses.
Google Gemini executive Sissie Hsiao to step down
Google is replacing Sissie Hsiao, who led the development of AI chatbot Gemini, with Josh Woodward. Hsiao plans a short break before returning to Google in a new role. The shift aims to focus on Gemini's evolution, with Woodward also leading Google Labs.
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