Tag: billion
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Google rivals line up seeking damages after record $1 billion EU fine
BRUSSELS, July 28 : A decades-long crackdown on Google’s business practices in Europe is entering a costly new phase, as the loss of the first case brought against it under new EU legislation opens the door to a wave of private lawsuits demanding up to $10 billion in damages.Having already absorbed billions o
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Nvidia behind $50 billion lease on Texas data center, FT reports
July 28 : Nvidia has signed leases worth up to $50 billion for Hut 8’s Texas data center, the Financial Times reported on Tuesday, citing five people familiar with the deal.Hut 8 said last week its 1-gigawatt Beacon Point campus had a base-term contract value of $19.6 billion over 15 years, rising to as much
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Google rivals line up seeking damages after record $1 billion fine
BRUSSELS, July 28 : A decades-long crackdown on Google’s business practices in Europe is entering a costly new phase, as the loss of the first case brought against it under new EU legislation opens the door to a wave of private lawsuits demanding up to $10 billion in damages.Having already absorbed billions o
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Cadence raises annual forecasts as demand booms for AI chip design
July 27 : Cadence Design Systems raised its annual revenue and profit forecasts on Monday, banking on robust demand for its AI-powered chip and system design software.Shares of the company rose more than 5 per cent in extended trading.The company’s electronic design automation (EDA) tools are used to d
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Nvidia to invest $5 billion in Ilya Sutskever’s AI startup, source says
SAN FRANCISCO, July 27 – Nvidia will make a $5 billion equity investment in Safe Superintelligence as part of a strategic partnership between the chipmaker and the startup co-founded by OpenAI’s former chief scientist Ilya Sutskever, a person briefed on the deal said.The two companies announced the deal Mond
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Europe’s Eutelsat, SES set for $6 billion in US spectrum-clearing payments
(Corrects paragraph 3 to say SES’s premarket shares are seen up 8 per cent, not Eutelsat’s)July 27 : Eutelsat and SES stand to receive roughly $6.1 billion in combined payments for helping clear satellite spectrum for U.S. wireless services, they said on Monday.Eutelsat expects $504 million in pre-tax
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China chipmaker CXMT’s shares surge 470% in Shangai trading debut
SHANGHAI: Shares of CXMT Corp surged nearly 470 per cent at their Shanghai debut on Monday (Jul 27) after Asia’s biggest IPO this year, catapulting the chipmaker to the top of China’s stock market by valuation despite a recent selloff in global tech stocks.The stock began trading at 49.50 yuan compared to its
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Nvidia to acquire $1 billion of new shares of South Korea’s Naver
SEOUL, July 27 : South Korea’s Naver said in a regulatory filing on Monday that Nvidia will acquire $1 billion of its shares to be newly issued as part of an investment partnership to build a new data center.
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Hong Kong eases listing thresholds to draw more IPOs
July 24 : Hong Kong’s stock exchange on Friday made it easier for companies to go public in the Asian financial hub, lowering thresholds for firms with dual-class share structures and broadening access to confidential IPO filings.The reforms, which take effect immediately, follow a market consultation that re
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India’s HCLTech to set up $1.48 billion AI data center along with domestic startup
July 24 : India’s HCLTech said on Friday it would invest 142.57 billion rupees ($1.48 billion) to set up its first AI data centre in the eastern state of Odisha in partnership with homegrown startup Sarvam AI.The investment will include financial support from the Odisha government, the company said.Las
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