Broadcom forecasts quarterly revenue above estimates on strong AI chip demand
(Corrects to say adjusted profit beat estimates, not trailed, in paragraph 7)June 3 : Broadcom forecast third-quarter revenue above Wall Street expectations on Wednesday, betting on robust demand for its custom AI chips and networking gear.However, shares of the Palo Alto, California-based company f ...
Broadcom forecasts quarterly revenue above estimates
June 3 : Broadcom forecast third-quarter revenue above Wall Street expectations on Wednesday, betting on robust demand for its custom AI chips and networking gear.Revenue is expected to be about $29.4 billion in the quarter, compared with analysts' average estimate of $28.54 billion, according ...
Exclusive-Uber's commitment to self-driving startup Nuro is close to $500 million, sources say
SAN FRANCISCO, June 3 : Uber has committed close to half a billion dollars in self-driving startup Nuro, two sources directly aware of the matter told Reuters, detailing the extent of a major investment by the ride-hailing company in developing commercial robotaxis.After years of false starts, the r ...
British lawmaker sues Musk's xAI over sexualised Grok images
LONDON, June 3 : British lawmaker Jess Asato is suing Elon Musk's xAI, saying in a statement on Wednesday the Grok AI platform had been used to create fake sexualised images of her.Grok, distributed through Musk's social media platform X, is currently subject to regulatory probes in severa ...
US agency considers reforming, ending $3 billion school internet subsidy program
June 3 : The U.S. Federal Communications Commission said on Wednesday the agency is considering reforming or ending the roughly $3 billion annual E-Rate subsidy program for schools and libraries.The FCC said the commission wants to ensure E-Rate-funded internet networks and services are being used f ...
SpaceX wins Texas county tax incentives for Terafab chip project despite local opposition
ANDERSON, Texas/NEW YORK, June 3 : SpaceX secured tax incentives on Wednesday for its proposed Terafab chip manufacturing project in Grimes County, Texas, despite fierce opposition from residents who warned the development could strain local resources and transform the rural community.The project is ...
SpaceX wins Texas county approval for reinvestment zone tied to Terafab chip facility
ANDERSON, Texas/NEW YORK, June 3 : SpaceX won approval for a reinvestment zone in Texas on Wednesday despite fierce opposition from residents, clearing a key hurdle for a proposed $119 billion Terafab semiconductor manufacturing complex.The project is central to SpaceX's efforts to expand beyon ...
Japan electronics retailers Yamada, Edion plan merger to create sector giant
June 4 : Japan's consumer electronics retailers Yamada Holdings and Edion Corp are planning to merge, the companies said on Thursday, in a move to create a giant chain with combined sales of around 2.5 trillion yen ($15.6 billion).Both companies indicated that their boards will meet on Friday t ...
Japan electronics retailers Yamada, Edion plan merger to create sector giant, Nikkei Asia reports
June 4 : Japan's consumer electronics retailers Yamada Holdings and Edion Corp are planning to merge, with combined sales of around 2.5 trillion yen ($15.62 billion), Nikkei Asia reported on Thursday.Both companies are likely to hold board meetings as early as this week to reach a basic agreeme ...
OpenAI's Altman to urge US lawmakers not to require AI model approvals
WASHINGTON, June 3 : OpenAI CEO Sam Altman will advocate against proposals that AI developers obtain U.S. government approval before releasing new models to the public during his visit to Washington on Wednesday, according to a company statement.
Tesla rolls out unsupervised robotaxis in Austin
June 3 : Tesla said on Wednesday it was rolling out its unsupervised robotaxis in the Austin Metro area in Texas, as the electric-vehicle maker looks to speed up its autonomous ride-hailing operation.Expanding the robotaxi service and wider adoption of its full self-driving software - a version of w ...
Automakers, retailers warn US memory-chip shortage is impacting prices
WASHINGTON, June 3 : The increasing need for memory chips to power artificial intelligence data centers could lead to dramatic price hikes in U.S. consumer goods and disrupt supply chains, groups representing automakers, retailers, electronic firms and others said on Wednesday.The groups said in a l ...
Automakers, retailers warn memory chip shortage impacting prices
WASHINGTON, June 3 : The drastic shift of memory chips to artificial intelligence data centers could lead to dramatic price hikes in consumer goods and disrupt supply chains, groups representing automakers, retailers, electronic firms and others said Wednesday.The Alliance for Automotive Innovation, ...
US factory orders post biggest gain in 11 months in April
It surges 4.8%, with commercial aircraft orders soaring 165.9%
Nissan inks deal to make cars by Chery at its UK plant
The factory in Sunderland could start producing the Chinese brand’s vehicles as soon as 2027
Alphabet to raise $84.75 billion in upsized equity offering to fund AI ambitions
June 3 : Alphabet has increased the size of its equity offerings to $84.75 billion, in a sign of strong investor appetite for big tech companies as they expand their AI infrastructure and computing power.On Monday, the Google parent said it would raise $80 billion, as big tech companies compete to o ...
AGT Partners emerges as a substantial shareholder of Marco Polo Marine
Teo Zheng Long - Ginko-AGT Global Growth Fund, managed by AGT Partners, has emerged as a substantial shareholder of Marco Polo Marine (SGX: 5LY ) . In the filing on June 3, the fund has purchased 700,100 shares for a total consideration of $117,980.85, excluding brokerage and stamp duties. This translates to an aver ...
Fund manager Amova raises stake in Valuetronics to above 7%
Teo Zheng Long - Valuetronics (SGX: BN2 ) announced that its substantial shareholder, Amova Asset Management, has acquired 1,030,100 shares back on May 28. In the SGX filing dated June 3, the shares were purchased for a total consideration of $1,200,375.53, which excludes brokerage and stamp duties. This translates ...
Uber cuts 23% of people division as new president takes charge
The layoffs represent less than 1% of the ride-share company’s global workforce
Nissan inks deal to make Chery's UK vehicles at Sunderland facility
June 3 : Japan's Nissan has signed a deal with Chinese automobile manufacturer Chery to manufacture the latter's UK passenger vehicles at its Sunderland facility, the companies said on Wednesday.
SpaceX will disrupt $1.6 trillion US communications industry, Oppenheimer says
June 3 : SpaceX will disrupt the $1.6 trillion U.S. communications industry as the Elon Musk-led company's satellite broadband unit Starlink expands, Oppenheimer said in a note on Wednesday, adding that legacy broadband providers like AT&T may be most at risk.The brokerage raised its estima ...
Bangladesh seeks new IMF lending deal, officials say
DHAKA, June 3 : Bangladesh has requested a new loan arrangement from the International Monetary Fund and is exiting its current $5.5 billion programme, government officials said on Wednesday.The officials said Dhaka will soon start talks with the IMF on a framework that would shape the design and co ...
Indonesian parrot, seen once in a century, reappears in mountain forest
June 3 : For the past century, the Blue-fronted Lorikeet was one of Indonesia's most elusive birds, known only from a 2014 photographic record and a handful of museum specimens, with a lingering hope that it had not vanished. After days of climbing through sharp limestone, biting insects and di ...
Meta enters enterprise AI race with new business agent
LONDON, June 3 : Meta Platforms on Wednesday unveiled an artificial intelligence agent aimed at helping businesses carry out day-to-day operations, positioning the social media giant as a player in the enterprise AI market.Announced at the company's WhatsApp-focused Conversations conference in ...
Little-tested spinal cord treatment triggers hope, hype and lawsuits in Brazil
SAO PAULO, June 3 : An experimental treatment for spinal cord injuries has ignited a frenzy in Brazil, drawing patients from as far off as Mexico to a small-town laboratory, mobilizing the government to expedite approval and turning a scientist into a national celebrity – all before its safety has ...
EU plans energy standards for data centres amid concerns over soaring power use
BRUSSELS, June 3 : The European Union will develop minimum energy-efficiency standards for data centres, it said on Wednesday, as concerns grow over their rapidly rising power use.EU data centre capacity is expected to more than double in the coming years, reaching 28 gigawatts by 2030 from 12 GW la ...
EU targets Big Tech dependence with 'made-in-Europe' drive
BRUSSELS, June 3 : The European Commission proposed new laws on Wednesday to boost domestic cloud, AI and semiconductor industries, aiming to cut reliance on U.S. Big Tech in a move that could ratchet up transatlantic tensions.The Cloud and AI Development Act and Chips Act 2.0 form part of Europe� ...
AlphaSense nearly doubles valuation to $7.5 billion in new funding round
June 3 : Market intelligence platform AlphaSense said on Wednesday it has raised $350 million at a valuation of $7.5 billion, nearly double that of its funding round two years ago.The round was led by Vitruvian Partners, Accenture Ventures, and J.P. Morgan Asset Management, with new investors includ ...
Market research firm AlphaSense nearly doubles valuation to $7.5 billion in new funding round
June 3 : Market intelligence platform AlphaSense said on Wednesday it has raised $350 million at a valuation of $7.5 billion, nearly double that of its previous funding round.The round was led by Vitruvian Partners, Accenture Ventures, and J.P. Morgan Asset Management, with new investors including D ...
Scientists reveal Ötzi the Iceman's dynamic microbial world
June 3 : Ötzi the Iceman died violently roughly 5,300 years ago in the Alpine region of the modern border between Italy and Austria. An arrowhead was found lodged in his left shoulder, having caused fatal bleeding when he was attacked in mountainous terrain. But, in some sense, Ötzi still lives, a ...
EU Parliament to switch to French search engine from Google in tech sovereignty push
BRUSSELS, June 3 : The European Parliament will switch to French search engine Qwant from Google, it said on Wednesday, underscoring Europe's push to reduce its reliance on U.S. technology in favour of local alternatives.The European Commission will later on Wednesday announce measures on chips ...
AI music startup Suno raises funding at $5.4 billion valuation
June 3 : Suno said on Wednesday it has raised more than $400 million in a funding round at a $5.4 billion valuation, as the AI music startup looks to enhance its platform by creating new tools.Here are some details:• The Massachusetts-based startup, which allows users to generate songs via AI prom ...
Tiger Brokers to suspend investors in mainland China from adding new positions
However, they can buy or sell securities from existing accounts when they travel offshore
Singapore stocks end higher as DBS, OCBC hit fresh highs; STI up 0.8%
Across the broader market, losers outnumber gainers 345 to 259
