artificial intelligence - CybAI news

07 Aug

Micron Resumes Buybacks That Had Been Suspended Amid Downturn

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Micron Technology Inc. is resuming a stock buyback program that it had suspended nearly two years ago during an industry downturn. Shares gained on the news. The largest US maker of computer memory chips sells a vital component of artificial intelligence hardware — high-bandwidth memory — that works with processors from Nvidia Corp. to crunch data. While its earnings forecast last month failed to impress investors, the company has been hailed as one of the biggest potential beneficiaries of the generative AI boom. Source link lol

07 Aug

Intel Has Lost Wall Street’s Patience as Headwinds Keep Mounting

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After another catastrophic earnings report, Intel Corp. bulls are increasingly few and far between on Wall Street.Intel shares have shed nearly a third of their value since the firm gave a grim growth forecast, announced plans to slash 15,000 jobs, and suspended a dividend that has been in place since 1992. The report was the latest in a series of discouraging updates, and underlined the myriad headwinds facing the chipmaker as it struggles to execute an ambitious turnaround and compete in the artificial intelligence era. Source link lol

07 Aug

Instacart Posts Sales Beat, Issues Strong Earnings Outlook

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Instacart posted better-than-expected sales in the second quarter, signaling that the grocery-delivery business has a strong enough user base to support its longer-term bet on advertising.Revenue gained to $823 million, far surpassing analysts’ expectations of $806 million. The value of orders placed during the quarter totaled $8.19 billion, also beating estimates. That’s even while the San Francisco firm reported that overall orders grew at a slower pace than expected. Source link lol

07 Aug

SoftBank Unveils $3.4 Billion Buyback Ahead of Next Big AI Bet

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SoftBank Group Corp. announced a buyback worth up to ¥500 billion ($3.4 billion), following a month of sharp selloffs and pressure from activist investor Elliott Investment Management to bolster its stock price.The Tokyo-based technology investor plans to buy up to 6.8% of its free-floating outstanding shares in the year to August 7, 2025, according to a release Wednesday. The announcement comes after Elliott built a sizable stake in SoftBank this year and had pushed for a $15 billion buyback, people familiar with the matter said in June. Source link lol

07 Aug

Reddit Sales Exceed Analysts’ Expectations on Advertising Growth

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Reddit Inc. said it expects steady revenue growth from new data licensing partnerships and advertising technology, charting its path forward as a newly public company.Current-quarter sales will be $290 million to $310 million, Reddit said Tuesday in a statement. Analysts had forecast $281.8 million, according the average of estimates compiled by Bloomberg. Source link lol

07 Aug

South Korea Logs Biggest Current Account Since 2017 on AI Demand

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South Korea’s current account recorded the biggest surplus in more than six years, boosted by global demand for chips used in artificial intelligence and other technology exports that have underpinned the nation’s economic growth.South Korea logged a net $12.3 billion current account surplus in June, the most since September 2017, with semiconductors and communications devices leading the export growth while imports of raw materials and capital goods fell, according to balance of payments data released Wednesday by the Bank of Korea. Net assets in the financial account also increased by $12.2 billion, the most since October 2020. Source link lol

07 Aug

Super Micro’s Weak Profit Fuels AI Server Margin Anxieties

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Super Micro Computer Inc. fell more than 10% in extended trading after reporting quarterly revenue and profit that missed analysts’ estimates, outweighing an annual sales outlook that was billions above Wall Street projections.Profit, excluding some items, was $6.25 a share in the period ended June 30, the company said Tuesday in a statementBloomberg Terminal. That’s short of Super Micro’s previous forecast and the $8.25 average analyst estimate. Sales were $5.31 billion, compared with an average projection of $5.32 billion, according to data compiled by Bloomberg. Source link lol

06 Aug

Lumen Technologies Extends Record Rally on AI Hopes

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Lumen Technologies Inc. shares surged as much as 93% in post-market trading Tuesday, extending gains after notching a record one-day jump in the regular session.Driving the gains was excitement over artificial intelligence and its ability to translate into results for the company. In earnings released after the bell Tuesday, Lumen raised its forecast for free cash flow for the year, saying it expected between $1 billion and $1.2 billion. Previously, it had forecast free cash flow between $100 million and $300 million. Wall Street analysts covering the company expected the forecast to be about $217 billion, data compiled by Bloomberg…

06 Aug

AI Is Heating the Olympic Pool

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In the suburbs of northeast Paris, there is a giant terra-cotta-colored warehouse with a labyrinth of windowless corridors inside. A deafening whir emanates from behind rows and rows of anonymous gray doors, and under white striplights, disposable earbuds are available to protect passersby from the noise.These are the uncanny innards of one of France’s newest data centers, completed earlier this year, which is now being used to heat the new Olympic Aquatics Center—visible from the data center’s roof. When US swimming star Katie Ledecky won her ninth Olympic gold medal last week, she did it by speeding through water heated,…

06 Aug

Amazon, Microsoft Keep Data Center Spending Spree Going

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Major technology companies are spending billions of dollars in capital expenditure and most of it is going for the same thing. But first... Source link lol