Micron forecasts upbeat quarterly revenue on strong AI memory chip demand; shares rise
Micron Technology forecast third-quarter revenue and posted second-quarter revenue above Wall Street estimates on Thursday, signaling strong demand for its high-bandwidth memory (HBM) chips used by the AI industry.The company's shares rose nearly 4 per cent in after-hours trading, following a 9 ...
Micron forecasts upbeat quarterly revenue on demand for AI memory chips
Micron Technology forecast third-quarter revenue above Wall Street estimates on Thursday, signaling strong demand for its high-bandwidth memory (HBM) chips used by the AI industry.The company's shares rose nearly 5 per cent in after-hours trading. The stock had risen 9 per cent this month, ahea ...
Perplexity AI in talks to raise funds at $18 billion valuation, source says
Perplexity AI is in talks to raise funds at an $18 billion valuation, a person familiar with the matter told Reuters on Thursday, as the Nvidia-backed startup looks to grow and capture soaring demand for its search tools.The jump in valuation doubles the previous $9 billion figure, reported by Reute ...
Nvidia to open quantum computing lab, CEO says
(Removes extra "the" in second paragraph)SAN JOSE, California : Nvidia will open a quantum computing research lab in Boston, where it plans to collaborate with scientists from Harvard University and the Massachusetts Institute of Technology, Nvidia CEO Jensen Huang said on Thursday.Huang ...
Apple shakes up AI executive ranks in bid to turn around Siri, Bloomberg News reports
Apple is shaking up its executive ranks to get its AI efforts back on track after months of delays, Bloomberg News reported on Thursday citing people familiar with the situation.Some AI improvements to voice assistant Siri will be delayed until 2026, Apple had said earlier this month without giving ...
Creditors file over S$198m in claims against troubled Qoo10, but only S$34,650 recovered
[SINGAPORE] More than S$198 million in claims have been submitted by creditors to the liquidator of beleaguered online marketplace Qoo10, but only...
US stocks end down on economic worry; oil up on Middle East tensions
NEW YORK :U.S. stocks posted modest losses and the dollar strengthened on Thursday as investors weighed solid data against notes of caution about trade from world central bank leaders. Gold eased from record highs and crude prices advanced as the afternoon progressed.Geopolitical tensions heated up ...
US stocks rise, dollar strengthens as strong data counters central banks' caution
NEW YORK :U.S. stocks extended their rally and the dollar strengthened as solid data helped investors look past notes of caution from world central bank leaders regarding mounting economic uncertainties and U.S. President Donald Trump's erratic tariff policies. U.S. data showed jobless claims h ...
Apple losing over US$1 billion a year on streaming service, the Information reports
The tech giant has spent more than US$5 billion a year on content since launching Apple TV+ in 2019 but trimmed it...
X sues Modi's government over content removal in new India censorship fight
NEW DELHI : India's IT ministry has unlawfully expanded censorship powers to allow the easier removal of online content and empowered "countless" government officials to execute such orders, Elon Musk's X has alleged in a new lawsuit against New Delhi.The lawsuit and the allegati ...
Meta to seek disclosure on political ads that use AI ahead of Canada elections
Meta Platforms will ask advertisers to disclose the use of AI or other digital techniques to create or alter a political or social issue ad, the Facebook-owner said on Thursday, aiming to curb misinformation ahead of the Canadian federal elections.The disclosure mandate will apply if an ad contains ...
Trump to give remarks at cryptocurrency conference at 10:40 a.m
PARIS :U.S. President Donald Trump will deliver virtual remarks at 10:40 a.m. (1440 GMT) at a cryptocurrency industry conference, the White House said on Thursday.
US: Wall Street slips as Fed boost proves short-lived
[NEW YORK] US stock indexes opened lower on Thursday (Mar 20), as worries about the fallout of US tariff policies returned a...
Amazon to sell carbon credits to suppliers, customers
LONDON : Amazon has begun selling carbon credits to its suppliers, business customers and other companies, the U.S. retail giant said, which can be used to offset their climate-damaging carbon emissions.The launch comes amid a major debate between companies, project developers and scientists about t ...
Apple losing over $1 billion a year on streaming service, the Information reports
Apple is losing more than $1 billion a year on its streaming service Apple TV+, the Information reported on Thursday, citing two people familiar with the matter.Apple has spent more than $5 billion a year on content since launching Apple TV+ in 2019 but trimmed that budget by around $500 million las ...
Amazon, Flipkart found to have violated Indian quality control rules during warehouse raids
Retail giants Amazon and Walmart-owned Flipkart violated Indian quality control rules by stocking products that did not have the required standards certificate, India's top government-run product certification agency said on Thursday.Raids on warehouses operated by both firms, conducted on Wedn ...
Central banks turn more cautious on rate cuts
Big developed market central banks are turning cautious after a series of interest rate cuts and as uncertainty in global economics and politics grows. Of five central banks that met this week, only Switzerland's cut rates, though traders see further easing in the United States and Britain, whi ...
ValueMax raises S$71.7 million through two digital securities commercial papers
Sharon See - Both papers were issued on Mar 3 and received “strong demand” from investors, says the company
Bank of England keeps rates on hold
It warns against assumptions for cuts in face of uncertainty
NatWest seals milestone UK banking collaboration with OpenAI
LONDON : NatWest and OpenAI have joined forces to enhance the lender's digital assistants and customer support processes using artificial intelligence, in the first collaboration of its kind with a UK-headquartered bank.The lender has put AI at the heart of key strategies to improve customer ex ...
Suntec REIT launches and prices $175 mil 3.40% notes due 2031, after failed takeover by Tangs
Nicole Lim - The manager of Suntec REIT has launched and priced $175 million 3.40% notes due 2031 for corporate purposes, refinancing of existing borrowings, financing/refinancing acquisitions among other reasons. The notes will be issued under the US$2 billion Euro Medium Term Securities Programme established o ...
Lim & Tan Securities increases CNMC Goldmine’s target price to 48 cents after FY2024 results
Felicia Tan - Lim & Tan Securities analyst Chan En Jie has increased his target price on CNMC Goldmine to 48 cents from 43 cents previously after the company’s FY2024 revenue and net profit stood at 104% and 98% of his full-year forecasts respectively. On Feb 24, CNMC Goldmine announced earnings of US$9.8 m ...
Nvidia-backed CoreWeave targets $26 billion valuation in AI IPO test
CoreWeave said on Thursday it was targeting a valuation of up to $26 billion in its U.S. initial public offering, as the Nvidia-backed startup bets on strong demand for generative artificial intelligence. The listing is seen as crucial to the revival of a largely moribund U.S. IPO market, as well as ...
Cryptocurrency exchange Kraken to buy NinjaTrader for $1.5 billion
Kraken said on Thursday it would buy retail futures trading platform NinjaTrader for $1.5 billion, in a deal that would allow one of the world's largest cryptocurrency exchanges to expand into multiple asset classes and grow its user base.The acquisition comes at a time when the crypto industry ...
Cryptocurrency exchange Kraken to buy NinjaTrader in $1.5 billion deal
Cryptocurrency exchange Kraken said on Thursday it would acquire futures trading platform NinjaTrader in a $1.5 billion deal, broadening the scope of its asset offerings and expanding its user base.The deal is expected to close in the first half of 2025.Founded in 2003, NinjaTrader provides retail f ...
Kraken to acquire NinjaTrader in $1.5 billion deal
Cryptocurrency exchange Kraken said on Thursday it would acquire futures trading platform NinjaTrader in a $1.5 billion deal.
Tan Boon Liat Building’s S$1.15 billion collective sale closes with no bids
Jessie Lim - But there are expressions of interest for the large plot, and parties have entered a 10-week private treaty period due to conditions...
Singapore shares rise after Fed rate cut pause; STI up 0.6%
Ranamita Chakraborty - ST Engineering is the top gainer on the index while DFI Retail Group saw the biggest declines
Accenture raises full-year revenue forecast on AI services demand
Accenture raised the lower end of its annual revenue forecast on Thursday, betting on growing demand for its services to help clients integrate AI-powered tools into their operations.Strong demand for large-scale projects in cloud migration, artificial intelligence-led digital transformation and dat ...
Accenture flags federal contract cancellations, delays as US curbs spending
Consultancy firm Accenture said on Thursday the Trump administration's efforts to reduce federal spending have led to delays and cancellations of new contracts, sending the company's shares down more than 6 per cent in premarket trading.The new U.S. administration is looking to streamline ...
SGX listcos with Indonesia exposure stay resilient amid market meltdown
Mia Pei - But analysts raise caution over equities with emerging market exposure
Temu-owner PDD Holdings misses quarterly revenue expectations
PDD Holdings, which operates the Pinduoduo and Temu, missed market estimates for quarterly revenue on Thursday, as demand remained weak in the company's Chinese e-commerce business despite deep discounts and government stimulus to boost spending.The company reported revenue of 110.61 billion yu ...
BlackRock campaigns soothe tensions in Texas and win over GOP
Saijel Kishan / Bloomberg - Late last month, 800 or so people took their seats at the Black Tie & Boots Gala, a celebration of conservative politics in deep red Texas. The sponsor at table No. 15: BlackRock Inc., the Republicans’ biggest target on Wall Street. It’s no accident that the giant money manager was at the Te ...
Daily Debrief: What Happened Today (Mar 20)
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