infrastructure - CybAI news

15 Aug

Point72 Stake Sends Bitcoin Miner Higher as Short-Seller Attacks

stp2y0 CommentsRAG modelsartificial intelligence, bitcoin, Debt, Executives, finance, infrastructure, Markets, Paul B Prager, regulation, Technology, TWITTER INC

It’s Steve Cohen’s hedge fund versus an activist short-seller in the stock market today. And so far, Cohen is winning.Bitcoin mining company TeraWulf Inc. rallied as much as 18% on Thursday after Cohen’s Point72 Asset Management disclosed a 1.3% stake in the company in its second-quarter report to the Securities and Exchange Commission. The shares maintained most of those gains following a reportBloomberg Terminal published by Grizzly Research that accused the miner of enriching insiders at the expense of investors. Source link lol

15 Aug

CK Hutchison Profit Declines as Global Headwinds Persist

stp2y0 CommentsRAG modelsacquisitions, CK HUTCHISON HOLDINGS LTD, CK INFRASTRUCTURE HOLDINGS L, Consumer Spending, europe, Hong Kong, infrastructure, Middle East, retail, Technology, Victor Huike

CK Hutchison Holdings Ltd. has vowed to explore more deals with long-term value to navigate increasing geopolitical and financial market risks, as the Hong Kong conglomerate reported slumping profit for the first half of the year.The group, founded by billionaire Li Ka-shing, saw net income in the first half this year fall 9% to HK$10.2 billion ($1.3 billion), it said in a filing Thursday. Total revenue rose 4% to HK$232.6 billion during this period. Source link lol

14 Aug

Receding AI Stock Euphoria Has Bulls Seeing Some Opportunities

stp2y0 CommentsRAG modelsARM HOLDINGS PLC-ADR, artificial intelligence, DELL TECHNOLOGIES -C, Earnings, hardware, infrastructure, Investment Management, NVIDIA CORP, stocks, SUPER MICRO COMPUTER INC, Technology

Skeptics had long warned that artificial intelligence-related stocks were in a bubble. Now that some of the froth has come off, bulls see an opportunity.Shares in makers of AI hardware and infrastructure — including Dell Technologies Inc., Super Micro Computer Inc., ARM Holdings Plc. and Nvidia Corp. — have come under huge selling pressure in recent months, bringing their valuations back down to earth. And with most of their big customers planning to continue spending billions of dollars on AI, some say that it’s time to selectively get back in. Source link lol

14 Aug

Hon Hai Shipments of Next-Gen Nvidia Chips to Be Limited in 2024

stp2y0 CommentsRAG modelsAmericas, artificial intelligence, Asia, Emerging Markets, engineering, HON HAI PRECISION INDUSTRY, infrastructure, Jensen Huang, NVIDIA CORP, Technology, Utilities

Hon Hai Precision Industry Co. will only start shipping a small volume of servers containing Nvidia Corp.’s next-generation chips in the fourth quarter, signaling the challenges the US AI accelerator designer faces in speeding up its innovation.Hon Hai’s shipments of servers containing GB200, or a Grace processor bundled with an upcoming Blackwell graphic processing unit, will grow significantly only in the first quarter of 2025, company spokesman James Wu told analysts in a conference call on Wednesday. The Taiwanese manufacturer will be one of the first server makers to ship gear containing GB200 chips, Wu added. Source link lol

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

13 Aug

South Africa Coal Export Line Will Need Five Years to Refurbish

stp2y0 CommentsRAG modelsafrica, china, Conservative, DEUTSCHE BAHN AG, Generic 1st 'XW' Future, infrastructure, JULY SARL/CAEN, Logistics, South Africa, Technology, TRANSNET LTD

South Africa’s state-owned rail company needs $669 million and five years to upgrade equipment to revive performance of its main export coal line, according to an internal report.Coal shipments plunged to a more than three-decade low of 48 million tons last year because of inefficiencies at Transnet SOC Ltd., which blamed lack of locomotives and spare parts for its woes. The two other major factors limiting the amount of the fuel shipped to the coast for export are infrastructure faults and issues with signaling systems, according to a final executive summary report seen by Bloomberg. Source link lol

12 Aug

India’s Bharti Agrees to Buy 24.5% of Carrier BT From Altice

stp2y0 CommentsRAG modelsacquisitions, advertising, Armando Pereira, BT GROUP PLC, Debt, india, infrastructure, OUTBRAIN INC, Portugal, Technology, United Kingdom

Bharti Global has agreed to buy about 24.5% of BT Group Plc, a deal to invest in a $17 billion British carrier that will accelerate an expansion overseas.Bharti, an affiliate of Indian conglomerate Bharti Enterprises, is buying stock from shareholder Altice UK, it said in a statement. The Indian firm said it has no intention of offering to buy out the rest of BT. Source link lol

09 Aug

Intel Scraps Innovation Expo as Cash-Strapped Company Makes Cuts

stp2y0 CommentsRAG modelsAmericas, artificial intelligence, california, Earnings, infrastructure, INTEL CORP, jobs, Pat Gelsinger, San Jose, Technology, Utilities

Intel Corp., which is cutting jobs and costs to preserve its shrinking cash pile, postponed an Innovation event that had been scheduled for next month in San Jose, California. The chipmaker plans to focus on other gatherings, such as webinars, hackathons and the Intel AI Summit, in lieu of the Innovation conference, the company said Friday in an emailed statement. Source link lol

09 Aug

Brookfield Is Considering Stake Sale in Data4’s Mature Assets

stp2y0 CommentsRAG modelsbusiness, CITIGROUP INC, deals, europe, France, germany, infrastructure, Italy, Luxembourg, Poland, Spain, Technology, Valuation

Brookfield Infrastructure Partners is weighing a minority stake sale in some of the assets of French data center operator Data4, according to people with knowledge of the matter. Brookfield is working with Citigroup Inc. on seeking investors for Data4’s so-called stabilized assets, which refer to fully-constructed data centers with high and stable tenancy rates, the people said. The stabilized asset portfolio has a valuation of more than €3.5 billion ($3.8 billion), said one of the people, who asked not to be identified as the information is private. Initial bids are expected in September, they said. Source link lol

09 Aug

Cisco to Cut Thousands of Jobs in New Layoff Round, Reuters Says

stp2y0 CommentsRAG modelsartificial intelligence, CISCO SYSTEMS INC, cybersecurity, future of work, infrastructure, jobs, new york, Technology, United States, Utilities

Cisco Systems Inc. plans to cut thousands more jobsBloomberg Terminal in a second round of layoffs this year, Reuters reported, as the networking equipment maker shifts its focus to faster-growing businesses such as cybersecurity and artificial intelligence.The news comes on top of the approximately 4,000 jobs the company announced in February that it would eliminate, after a slowdown in corporate tech spending wiped out its sales growth. Source link lol