Arm unveils new AI chip, expects it to add billions in annual revenue
SAN FRANCISCO, March 24 : Arm Holdings announced a new artificial intelligence data center chip on Tuesday which it said will add billions of dollars of revenue and represent a significant shift in the company's strategy.The new chip, called the AGI CPU, will address data-crunching needed for a ...
Oil, stock trading spiked before Trump's Iran remarks: Media
“What stands out here isn't just the size of the trades, but the timing,” said Stephen Innes, analyst at SPI Asset Management.
Epic Games to cut more than 1,000 jobs as Fortnite usage falls
Chief Executive Tim Sweeney said the layoffs at Epic Games are due to declining engagement with Fortnite and are not related to AI.
EU antitrust chief meets Google, Meta, OpenAI, Amazon CEOs amidst AI scrutiny
BRUSSELS, March 24 : EU antitrust chief Teresa Ribera, who has voiced concerns about Big Tech extending its dominance into artificial intelligence, will meet the CEOs of Alphabet, Meta Platforms and OpenAI on Tuesday, a European Commission agenda item shows.The first-time meetings with Sundar Pichai ...
Microsoft to rent Texas data center dropped by Oracle and OpenAI, Bloomberg News reports
March 24 : Microsoft has agreed to rent a data center project in Texas that was originally being developed for Oracle and OpenAI, Bloomberg News reported on Tuesday, citing people familiar with the situation.The Abilene site, which accounts for roughly 700 megawatts of capacity, sits next to Oracle ...
Fortnite maker Epic Games cuts about 1,000 jobs across company
The company will offer at least four months of severance to affected employees
Mouse study shows repeated cloning causes grave genetic mutations
March 24 : Revealing the limitations of cloning, researchers who repeatedly cloned mice for two decades have discovered that such serial duplication triggers grave genetic mutations that accumulate over the generations and ultimately become fatal.A total of 1,206 cloned laboratory mice were generate ...
OpenAI's nonprofit arm names leaders, plans to spend at least $1 billion over next year
March 24 : OpenAI on Tuesday announced key leadership appointments for its nonprofit arm and committed to investing at least $1 billion through the division over the next year in AI-related projects following a major restructuring at the ChatGPT-maker.The OpenAI Foundation's spending will focus ...
OpenAI non-profit names leaders, plans to spend $1 billion this year, Bloomberg News reports
March 24 : OpenAI is making several key hires to lead its non-profit arm and is planning to spend $1 billion in various AI-related investments this year through the non-profit unit, Bloomberg News reported on Tuesday.
US will roll out pilot surveys to track energy use by data centers
NEW YORK, March 24 : The U.S. Department of Energy's information arm will launch a series of pilot surveys on Wednesday aimed at gauging the energy use of the country's data centers, the administrator of the agency told Reuters.Silicon Valley is pouring hundreds of billions of dollars into ...
Poland to start work on a digital services tax, deputy PM says
WARSAW, March 24 : Poland's government will start work on a digital services tax bill, Deputy Prime Minister and Digitalisation Minister Krzysztof Gawkowski said on Tuesday, setting up a potential clash with key ally the United States.Many countries, particularly in Europe, have levied taxes on ...
Iran war starts to hit global economy, business surveys show
FRANKFURT/WASHINGTON, March 24 : The Iran war is already taking a toll on major economies around the world, according to business surveys on Tuesday which showed how a surge in energy prices and rising uncertainty were dampening activity and pushing inflation expectations higher.The initial findings ...
Microsoft president says building data centres requires trust of US communities
HOUSTON, March 24 : Gaining the approval of local communities has become paramount to building data centers in the U.S., Microsoft President Brad Smith said on Tuesday, as towns across the country increasingly protest the developments.The rapid proliferation of Big Tech data centers is driving up th ...
Microsoft president says winning trust of US communities is paramount to building data centers
NEW YORK, March 24 : Gaining the approval of local communities has become paramount to building data centers in the U.S., Microsoft President Brad Smith said on Tuesday, as towns across the country increasingly protest the developments."You have to win over the local community and maintain thei ...
Britain's FCA defends Palantir contract award before lawmakers
LONDON, March 24 : U.S. data analytics firm Palantir, which won a contract to supply AI systems to Britain's Financial Conduct Authority, will not have access to regulatory intelligence, an FCA official said on Tuesday, as the deal came under criticism from lawmakers.Palantir Technologies, co-f ...
Apple to bring paid ads to maps to US, Canada this summer
SAN FRANCISCO, March 24 : Apple on Tuesday said it plans to introduce paid ads to its maps service in the U.S. and Canada this summer, marking its entry into a business long dominated by Alphabet's Google. Apple Maps, an app that comes bundled on hundreds of millions of iPhones and other device ...
Aspex demands Delivery Hero CEO exit and audit over 1.5 billion euro legal risk
Shares in the food delivery company have fallen almost 30% in Frankfurt trading this year
Nasa to spend US$20 billion on moon base, cancel orbiting lunar station
[WASHINGTON] NASA is cancelling plans to deploy a space station in lunar orbit and will instead use its components to construct a...
Wall St opens lower as Middle East uncertainty tempers rally
[NEW YORK] Wall Street’s main indexes opened lower on Tuesday (Mar 24) as renewed doubts over easing Middle East tensions tempered the...
NYSE teams up with Securitize to develop tokenized securities platform
March 24 : The New York Stock Exchange, part of Intercontinental Exchange, announced a collaboration on Tuesday with digital asset company Securitize to help create tokenized versions of traditional financial securities.Securitize will serve as the first digital transfer agent eligible to create blo ...
NASA to cancel orbiting lunar station, build moon base instead
WASHINGTON, March 24 : NASA chief Jared Isaacman on Tuesday said the agency would cancel plans to deploy a space station in lunar orbit and instead use its components to construct a base on the moon's surface, part of an array of changes the new administrator is making to the agency's flag ...
‘Perfect storm’: Singapore energy traders, lawyers grapple with Iran war fallout
Benicia Tan - Quick judgements are needed to cope with extreme price changes and flurry of client requests
Zoox to widen US robotaxi footprint with San Francisco, Vegas expansion
March 24 : Zoox, Amazon's self-driving unit, said on Tuesday it will expand its robotaxi service in San Francisco and Las Vegas, and begin testing its purpose-built robotaxis in Austin and Miami, marking its broadest push yet into the U.S. autonomous ride-hailing market.Alphabet's Waymo le ...
Middle East funds ride China AI euphoria to world-beating IPO gains
Even amid the recent conflict, funds have continued to pursue global deals
Russia launches low-orbit satellites in bid to one day rival Starlink
MOSCOW, March 24 : Russia said on Tuesday it had launched 16 low-orbit satellites as Moscow seeks to build a rival to Elon Musk's Starlink network.Russia remains far behind Starlink, which since its first launch of operational satellites in 2019 has grown to more than 10,000 satellites in orbit ...
Global Invacom signs MOU to produce next-gen multi-orbit flat panel antenna
Felicia Tan - Global Invacom Group has, through its wholly-owned subsidiary, Global Invacom Limited, signed a memorandum of understanding (MOU) with Satwave Arrays Inc. to produce a multi-orbit flat panel antenna (FPA) for Ka/Ku-band commercially. Through the MOU, Global Invacom intends to bring to the market a m ...
ECB to start fresh checks on banks’ exposure to private credit
It plans to ask banks for details of their dealings with direct lenders
BMO to launch tokenized cash platform with CME and Google Cloud
March 24 : Bank of Montreal said on Tuesday it plans to roll out tokenized cash capabilities in collaboration with CME Group and Google Cloud, as it seeks to meet rising demand for real‑time payments amid a global shift toward around‑the‑clock trading.Tokenized cash enables near-instant settle ...
Stocks mixed, with oil prices higher as war uncertainty remains
NEW YORK/LONDON, March 24 : Major global stock indexes were mixed on Tuesday as oil prices extended recent sharp gains and worries persisted over how long the Israeli-U.S. war on Iran will go on.U.S. Treasury yields pushed higher and the dollar regained lost ground.Stocks had rallied on Monday after ...
Caution returns as glimmer of relief over Iran war fades, oil rebounds
LONDON, March 24 : World stocks eked out modest gains, while oil prices held above $100 a barrel on Tuesday, with caution setting in a day after U.S. President Donald Trump delayed the bombing of Iran's power grid.U.S. Treasury yields pushed higher and the dollar regained lost ground, in a retr ...
Boustead Projects secures Phase 2 fit-out contract exceeding $50 mil from repeat Fortune 500 client
Felicia Tan - Boustead Projects E&C, Boustead Singapore’s engineering and construction business under its real estate solutions division, has been awarded a second phase fit-out contract by a repeat client, a Fortune 500 corporation. The contract, worth over $50 million, will see Boustead Projects E&C c ...
Grab shareholders agree to double voting power of Class B ‘super-voting’ shares
Jude Chan - CEO Anthony Tan’s voting power will be lifted to as much as 74.9% – up from 59.1% as at Jan 31
SGX RegCo directs Shanghai Turbo to convene FY2024, FY2025 AGMs by Aug 31
Jude Chan - Failure to comply will be deemed a contravention of mainboard rules
Golf’s Singapore Open returns with The Business Times as new presenting partner
Lee U-Wen - The Apr 23-26 tournament will be played at Sentosa Golf Club’s Serapong course
