Tag: billion
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Microsoft sets record with near $450 billion single-day gain in market value
July 30 : Microsoft added nearly $450 billion in market value on Thursday, the largest one-day gain on record for a company, after it forecast stronger-than-expected cloud growth and signaled continued cash generation through its new fiscal year.The software giant’s shares closed up more than 15 per cent, lif
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Amazon beats cloud sales growth estimates; shares jump
July 30 : Amazon.com beat market expectations for quarterly cloud sales growth on Thursday, calming prior fears among investors over hefty planned outlays for artificial intelligence development.Shares in the Seattle-based online retailer jumped more than 9 per cent after the market’s close, following a 3.9 p
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EU aims to build AI gigafactories of its own
The EU has unveiled a plan to raise state and private funds to hyperscale AI capabilities and gain independence from non-European governments. The plan calls for the construction of seven new sites across the bloc.
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UEFA votes to boycott World Cup over FIFA investor plan
UEFA members unanimously voted to boycott the World Cup and other FIFA competitions. The protest follows FIFA’s plan to sell stakes to investors in a subsidiary that will run the governing body’s tournaments.
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UEFA set for emergency meeting on FIFA World Cup proposal
UEFA is reportedly soon to hold an emergency meeting to discuss FIFA’s plans to effectively sell off a stake in the World Cup. European football’s governing body has expressed stiff opposition to the plan.
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Mizuho posts 45% jump in first-quarter profit, raises annual forecast
TOKYO, July 30 : Japan’s Mizuho Financial Group reported a 45 per cent rise in first-quarter profit on Thursday, a sign that loan demand has stayed strong despite volatile global energy markets and supply chain disruptions caused by war in the Middle East.Japan’s third-largest banking group also raised its an
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Meta cash flow craters as Zuckerberg doubles down on AI spending
July 29 : Meta Platforms reported a 91 per cent drop in second-quarter free cash flow on Wednesday, underscoring the financial strain of the social media giant’s costly AI buildout amid an uncertain payoff.The Facebook and Instagram parent company reported free cash flow of $784 million in the second quarter
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Microsoft says cash will keep flowing from AI, shares rise
July 29 : Microsoft on Wednesday said it expects to keep generating cash through its just-started fiscal 2027 and gave a capital expenditure forecast below Wall Street estimates after an accounting change for data center leases.The company also forecast sales and cloud growth that beat expectations for its cu
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Wall Street closes down sharply after Fed holds rates unchanged
Wall Street ended sharply lower on Wednesday (Jul 29) after the Federal Reserve held interest rates steady, with AI-related chip stocks adding to recent declines ahead of quarterly reports
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Microsoft cloud forecast beats estimates as cash keeps flowing from AI, shares rise
July 29 : Microsoft on Wednesday said it expects to keep generating cash through its fiscal 2027 and gave a capital expenditure forecast below Wall Street estimates after changing how it accounts for long-term data center leases.The company also forecast sales and cloud growth that beat expectations for its c
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