Tag: billion
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Intel forecast crushes estimates as AI boom boosts chip demand; shares jump
July 23 : Intel forecast quarterly profit and revenue above estimates on Thursday, pushing its shares up 10 per cent in after-hours trade, and boosted spending plans over the next two years as an AI data center buildout increases demand for its central processing units (CPUs). The company expects third-quarte
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Digital Realty raises annual FFO forecast on robust data center demand
July 23 : Digital Realty Trust raised its full-year forecast for funds from operations on Thursday, betting on resilient leasing momentum from cloud and AI customers to drive growth, sending its shares up 3 per cent in extended trading. Austin, Texas-based Digital Realty is a real estate investment trust
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Intel sales, profit forecast beat estimates; company boosts spending plans on AI boom
July 23 : Intel forecast quarterly profit and revenue above estimates on Thursday, pushing its shares up 12 per cent in after-hours trade, and boosted spending plans over the next two years as an AI data center buildout increases demand for its central processing units (CPUs). The company expects third-quarte
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Infosys names insider Ashiss Kumar Dash next CEO, trims growth forecast
BENGALURU, July 23 : Infosys named company veteran Ashiss Kumar Dash as its next CEO on Thursday, tapping a three-decade insider to lead India’s No. 2 IT firm through an AI-driven upheaval reshaping the technology services industry.The succession plan was announced alongside a cut to the company’s annual reve
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Blackstone beats profit estimates on AI gains as assets hit $1.35 trillion
July 23 : Blackstone’s second-quarter income rose to beat market expectations on Thursday, as the world’s largest alternative asset manager benefited from growing assets under management and reaping profits from a mammoth bet on artificial intelligence.The New York-based company said inflows in the quarter pu
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Infosys names insider Ashiss Kumar Dash next CEO, trims annual growth forecast
BENGALURU, July 23 : Infosys named company veteran Ashiss Kumar Dash as its next CEO on Thursday, tapping a three-decade insider to lead India’s No. 2 IT firm through an AI-driven upheaval reshaping the technology services industry.Dash, who heads the company’s energy vertical, will take over in April 2027 fo
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Alphabet’s cash burn raises alarm for Big Tech as AI spending climbs
July 23 : Alphabet’s first cash burn on record has jolted investors awaiting more Big Tech results next week as soaring AI spending strains one of the world’s most profitable companies, and the pain is only expected to increase.The Google parent burned $5.9 billion in the second quarter, even as the cloud uni
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Blackstone’s quarterly profit gets boost from asset pile, AI investment gains
July 23 : Blackstone, the world’s largest alternative asset manager, reported rising income for the second quarter on Thursday, buoyed by growing assets under management and reaping profit from a mammoth bet on artificial intelligence. The New York-based company said inflows in the quarter pushed total asset
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STMicroelectronics profit misses estimates, shares fall 14%
July 23 : STMicroelectronics reported second-quarter core profit below market expectations and forecast third-quarter revenue slightly below analyst estimates on Thursday, sending its shares down 14 per cent.The results disappointed investors betting on a faster recovery at the Franco-Italian chipmaker after
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STMicro raises data-centre expectations after profit miss, shares tank
July 23 : STMicroelectronics said it expects data-centre demand to boost revenue towards the end of the year, after reporting second-quarter core profit and a third-quarter sales forecast that missed expectations on Thursday.The shares fell 14 per cent in early trade.The Franco-Italian chipmaker, whose
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