Technology

06 Aug

Mitsubishi Heavy Shares Soar as Turbine Engine Sales Help Profit

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Mitsubishi Heavy Industries Ltd. shares jumped the most on record after the manufacturing conglomerate posted a 61% increase in quarterly profit, helped by strong sales of gas turbine engines.The Japanese company reported a business profit of ¥83.5 billion ($572 million) for the three months ended June 30, according to a statement Tuesday, after selling six large-scale gas turbines in the US and Asia. That beat analyst estimates of ¥57 billion. Net sales were ¥1.1 trillion, slightly higher than what the market was looking for. Source link lol

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06 Aug

SK Hynix Wins $950 Million of US Grants, Loans for AI Chip Site

stp2y0 CommentsRAG modelsAMKOR TECHNOLOGY INC, artificial intelligence, Indiana, INTEL CORP, jobs, MICRON TECHNOLOGY INC, SAMSUNG ELECTRONICS CO LTD, science, SK HYNIX INC, South Korea, Technology

SK Hynix Inc. is set to receive an initial $450 million in US grants and $500 million in loans to build an advanced chip packaging and research facility in Indiana, a project that will bolster US capacity for a critical part of the artificial intelligence supply chain.The $3.87 billion site will package high-bandwidth memory chips for use with AI chipmakers such as Nvidia Corp., an area that the Korean company dominates. SK Hynix is expected to ship its own memory chips from South Korea to its US facility, according to a Commerce Department official who requested anonymity to brief reporters…

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06 Aug

Meta Apologizes for Removing Malaysian PM’s Social Media Posts

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Meta Platforms Inc. said it was sorry about removing Malaysia Prime Minister Anwar Ibrahim’s posts on its platforms that paid tribute to a top Hamas political leader who was killed last month.“We apologize for an operational error where content from the Prime Minister’s Facebook and Instagram Pages were removed, and the content has since been restored with the correct newsworthy label,” a Meta spokesperson said Tuesday in a statement. Source link lol

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06 Aug

Malaysia Sets Up Chip-Design Hub to Boost Semiconductor Industry

stp2y0 CommentsRAG modelsAsia, CADENCE DESIGN SYS INC, china, design, Exports, INFINEON TECHNOLOGIES AG, INTEL CORP, Kuala Lumpur, Malaysia, politics, software, Technology

Malaysia has set up a chip-design hub in Selangor state to boost its semiconductor industry and attract foreign investments.The Southeast Asian nation is seeking to improve its chip design capabilities and move up from testing and packing — activities that traditionally have been considered less complex and of lower value. Source link lol

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06 Aug

TSMC Named Top Pick at Morgan Stanley After Record Selloff

stp2y0 CommentsRAG modelsEarnings, Emerging Markets, finance, Markets, MORGAN STANLEY, Stock Index, taiwan, TAIWAN SEMICONDUCTOR MANUFAC, Technology, Utilities, Valuation

Taiwan Semiconductor Manufacturing Co. is being touted as a “top pick” by Morgan Stanley after its shares plunged by a record Monday amid the global stock rout.“We like TSMC’s quality and defensive nature during an elongated semi downcycle,” Morgan Stanley analysts including Charlie Chan wrote in a note published Monday. The stock is trading at 16 times projected earnings estimates for 2025, a valuation the analysts say is “attractive again.” Source link lol

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06 Aug

OpenAI Co-Founders Schulman and Brockman Step Back

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Greg Brockman, the president of OpenAI and a central figure at the company, said he is is going on leave until the end of the year. At the same time, researcher John Schulman is leaving for rival artificial intelligence startup Anthropic. Both men are OpenAI co-founders, and their moves mark a shift at the company following already significant management churn this year. Source link lol

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06 Aug

Lethal Outbreak of New Mpox Strain Erupts in Central Africa

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Countries in central Africa are racing to contain a multinational outbreak of a mutated mpox strain that’s killed almost 500 people in the Democratic Republic of the Congo alone since January.The fast-spreading virus is suspected to have infected more than 12,300 people in 2024 in the DRC, where it was first reported less than a year ago. Recent cases in Ivory Coast, Kenya and at least three other African countries have raised concern of an explosive contagion carried along newly built roads and highways connecting remote mining sites to cities and camps housing hundreds of thousands of conflict-displaced Congolese. Source…

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06 Aug

Fujitsu Struggles to Find Workers to Expand in IT Consultancy

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Fujitsu Ltd. is having trouble winning the tech workers it needs to expand its IT consultancy arm and take on bigger system integrators like Accenture Plc.The Tokyo-based company, which is fighting to differentiate itself in Japan’s crowded industrial electronics sector, was targeting a five-fold expansion in its consultancy team to 10,000 workers in the business year to March 2026. But making headway has been tough, according to Corporate Executive Officer Yoshinami Takahashi. Source link lol

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06 Aug

SoftBank to Log Slim Profit Ahead of Masayoshi Son’s Next AI Bet

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SoftBank Group Corp. is likely to report a small profit, an indication of how past mistakes continue to weigh on the company even as billionaire founder Masayoshi Son prepares his next big AI bet.Emerging from a month of sharp selloffs, the Tokyo-based investment firm on Wednesday is expected to report a net income of ¥1 billion ($6.9 million) for the June quarter, according to the average of three analysts polled. That compares with a big loss of ¥477.6 billion a year ago, but is tiny compared with profits in the preceding two quarters, attesting to the continued drag from hundreds…

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06 Aug

Xpeng Aeroht Raises $150 Million for Production of Flying Cars

stp2y0 CommentsRAG modelsAsia, Automotive, Beijing, business, china, cities, Emerging Markets, Guangzhou, hyperdrive, infrastructure, Megacity, Technology, transportation

Xpeng Aeroht, a unit of Chinese electric carmaker Xpeng Inc., raised $150 million to fund the development and production of a proposed flying car in Guangzhou.In a statement Monday, the company said it has also started the next round of funding as it prepares to build manufacturing facilities in the Chinese city. Source link lol

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