Technology - CybAI news

14 Aug

IPhone Maker Hon Hai Beats Profit Estimates Thanks to AI Boom

stp2y0 CommentsRAG modelsAPPLE INC, artificial intelligence, china, HON HAI PRECISION INDUSTRY, iphone, JULY SARL/CAEN, Logistics, NVIDIA CORP, smartphone, TAIWAN SEMICONDUCTOR MANUFAC, Technology

Apple Inc.’s main manufacturing partner Hon Hai Precision Industry Co. said it expects revenue to grow in the current quarter and for the rest of year, after reporting a profit rise boosted by demand for servers powering AI applications.The iPhone producer, also known as Foxconn, said on Wednesday that net income in the June quarter was NT$35 billion ($1.1 billion), largely in line with analyst expectations. Hon Hai’s revenue for the period, released earlier, surpassed estimates and came in at NT$1.55 trillion, up 19%. This was helped in large part by its growing business of supplying data center operators with…

14 Aug

EON Boosts Spending on Energy Transition as Europe Electrifies

stp2y0 CommentsRAG modelsDecarbonization, Earnings, europe, germany, Government, industries, infrastructure, Leonhard Birnbaum, Markets, regulation, Taxes, Technology, Utilities

EON SE ramped up investments more than 20% in the first half as the German utility expands a massive network of cables that’s helping to drive the energy transition. As one of Europe’s largest distribution-grid operators, EON plays a key role in the economy’s electrification. The continent aims to be climate-neutral by the middle of the century, an endeavor that requires a huge build-out of grids so that millions of clean-energy generators can be connected. Source link lol

14 Aug

In Taiwan, Artificial-Intelligence Fundraising Survives Market Maelstrom

stp2y0 CommentsRAG modelsAPPLE INC, artificial intelligence, Asia, Bonds, Equity Capital Markets, Hedge Funds, QUANTA COMPUTER INC, taiwan, Technology, UBS GROUP AG-REG, US Dollar Spot

A new convertible bond offering by a major supplier to Apple Inc. will add to the dollar funds raised by Taiwan’s tech firms this year, thanks to the hybrid securities’ popularity and demand for artificial intelligence investments. Source link lol

14 Aug

Dip Buyers Plow Record Cash Into Megacap Fund Dominated by Tech

stp2y0 CommentsRAG modelsAPPLE INC, artificial intelligence, ETF, Interest Rates, INVESCO LTD, Markets, META PLATFORMS INC-CLASS A, NVIDIA CORP, PLOW, S&P 500 INDEX, stocks, Technology

Investors are back lavishing millions onto megacaps as the high-flying tech stocks resume their climb, shrugging off the vestiges of last week’s market meltdown.Traders poured a net $210 million into the Invesco S&P 500 Top 50 ETF (ticker XLG) on Monday, the biggest one-day influx in the fund’s nearly 20-year history, data compiled by Bloomberg show. The record inflow — and fourth straight one — pushed the ETF’s assets up by 4% to $5.3 billion, with nearly half of that attracted in the past year alone. Source link lol

14 Aug

FanDuel-Parent Profit Beats, Won’t Match DraftKings Surcharge

stp2y0 CommentsRAG modelsDRAFTKINGS INC-CL A, Earnings, FLUTTER ENTERTAINMENT PLC-DI, Illinois, industries, IPOs, london, Mergers, new york, social media, Taxes, Technology

Flutter Entertainment Plc shares soared as much as 11% in extended trading after the company, the operator of the FanDuel online sportsbook, reportedBloomberg Terminal second-quarter sales and profit that beat analysts’ expectations.Flutter, which recently moved its stock listing to the New York Stock Exchange from London, generated revenue of $3.61 billion in the quarter, exceeding estimates of $3.37 billion. Adjusted earnings rose to $2.61 a share, exceeding expectations of $1.70. Source link lol

14 Aug

Startup Founder Pleads Guilty to Indecent Assault of Young Woman

stp2y0 CommentsRAG modelsadvertising, Austin, Culture, Entrepreneurs, finance, startups, Technology, Texas, venture capital

One-time startup leader Brian Wong pleaded guilty to criminal charges that he assaulted a young woman woman during the 2016 South by Southwest festival in Austin, Texas.With a jury trial looming in September, state prosecutors reduced the offense to indecent assault from attempted sexual assault, making it a misdemeanor instead of a felony charge, and Wong changed his plea from guilty to not guilty, according to records in Austin district court. His lawyer, Sam Bassett, didn’t respond to requests for comment. Source link lol

14 Aug

Tencent’s Buyback Plan in Focus as Chinese Tech Rivals Catch Up

stp2y0 CommentsRAG modelsALIBABA GROUP HOLDING-SP ADR, Earnings, finance, GOLDMAN SACHS GROUP INC, Hong Kong, JULY SARL/CAEN, Markets, MEITUAN-CLASS B, Ronald Yan, Technology, TENCENT HOLDINGS LTD

Investors will scrutinize any comments from Tencent Holdings Ltd. about its buyback plans during Wednesday’s quarterly results announcement as its competitors catch up with its spending levels.Tencent has forked out almost $8 billion this year to repurchase its Hong Kong-listed shares, more than any other company on the exchange, according to data compiled by Bloomberg. The firm is widely expected to keep spending as its total outlay this year is only about 60% of the $12.8 billion it projected for the whole of 2024. Source link lol

13 Aug

AI-Focused VC Radical Ventures Nears $800 Million Fundraise

stp2y0 CommentsRAG modelsartificial intelligence, COHERE INC, COVARIANT INC, GENESIS THERAPEUTICS INC, investing, Li Fei-Fei, startups, Technology, TORONTO-DOMINION BANK, venture capital

Radical Ventures, a Canadian venture capital firm that made early bets on a string of hot artificial intelligence startups, has secured nearly $800 million in commitments for a new fund, according to people familiar with the plans.The firm is currently nearing the close of the new fund, which will boost its assets under management to about $1.8 billion, said the people, who asked not to be identified discussing private information. Source link lol

13 Aug

Intel, Pinched by Losses, Sells Stake in Chip Designer Arm

stp2y0 CommentsRAG modelsEarnings, Government, INTEL CORP, IPOs, japan, jobs, Markets, regulation, SOFTBANK GROUP CORP, Technology, Utilities

Intel Corp., which is slashing jobs and expenses in a bid to turn around the business, sold its holdings in chip technology creator Arm Holdings Plc during the second quarter. The company reported in a regulatory filing Tuesday that it no longer owns the 1.18 million shares it held three months earlier. Based on the average price of Arm’s stock during that period — $124.34 — the sale would have raised about $147 million for Intel. Source link lol

13 Aug

Nubank Posts Record Revenue, Profit While Boosting Credit

stp2y0 CommentsRAG modelsAmericas, brazil, BRICS, Colombia, Emerging Markets, finance, Guilherme Marques do Lago, industries, Latin America, Mexico, Technology

Nu Holdings Ltd., one of the world’s largest digital banks, beat analyst estimates in the second-quarter while posting record revenue and profit despite headwinds from weaker local currencies in Latin America.Nubank, as the company is known, recorded $2.8 billion in revenue in the quarter through June 30 compared with a median estimate of $2.66 billion in a Bloomberg survey. Net income more than doubled from a year earlier to $487 million, surpassing analyst expectations of $418 million. Source link lol