Tag: Business
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Nippon Steel to spend $3 billion in US Steel plant equipment upgrade, Nikkei reports
Oct 22 : Nippon Steel will invest about $3 billion in the U.S. Steel-operated Mon Valley works in Pennsylvania to upgrade the plant’s hot rolling facility, the Nikkei newspaper reported on Thursday.The move is part of the Japanese steelmaker’s pledge to invest $11 billion in U.S. Steel by 2028, following its
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Publishers, advertisers call EU, UK antitrust regulators to suspend Meta’s new commercial terms
BRUSSELS, Oct 22 : Digital advertisers and publishers lobbied on Thursday for EU and UK regulators to suspend Meta Platforms’ new commercial terms due to come into effect on October 30, alleging that these would give Meta an unlimited right to use their content for its AI services.Advocacy group the Movement
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India’s Tech Mahindra partners with SpaceXSI for AI-powered software development
Oct 22 : Indian IT services firm Tech Mahindra said on Thursday it has partnered with SpaceXSI to use AI to help companies modernise legacy applications and speed up software development.• India’s fifth-largest IT firm will also be bringing in chatbot Grok Build to set up industry-specific solutions�
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Cable capacity emerges as bottleneck for AI data centres, Nexans says
Oct 22 : Cable production capacity is emerging as a bottleneck for AI-driven data centre construction, Nexans’ finance chief said, as demand rises faster than the industry’s ability to expand manufacturing capacity.Global cable capacity is tight and building a new cross-linked polyethylene (XLPE) cable produc
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Tesla shares slip after capex cut raises doubts over Musk’s AI and robotics push
Oct 22 : Tesla’s shares fell 2 per cent on Thursday after the EV maker cut its capital spending forecast, raising concerns among investors counting on heavy investment for Elon Musk’s AI and robotics vision.The company on Wednesday lowered its 2026 capital spending forecast to about $20 billion from more than
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US to award $389 million in R&D funds for power semiconductors, critical materials
WASHINGTON, Oct 22 : The US Commerce Department said on Thursday it plans to award $389 million in research and development funding to four companies working on power semiconductor devices and critical materials to boost technologies like commercial fusion.As a condition of funding, the US government will re
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Analysis:Anthropic IPO stands alone as AI market jitters sideline others
Oct 22 : A once-robust fall calendar for technology IPOs is down to just Anthropic.The AI lab is pressing ahead to hold its initial public offering as planned in the middle of next month after making its prospectus public as early as late October, people familiar with the matter said, cautioning the plan a
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IBM falls as analysts question staying power of software rebound
Oct 22 : IBM shares fell 6.5 per cent in premarket trading on Thursday, as analysts said part of the company’s third-quarter software rebound was driven by deals delayed from the previous quarter, raising questions about how sustainable the boost would be.Here are more details:• About $250 million of
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Short sellers make $6 billion in unrealized profits as neoclouds slide on AI debt fears
Oct 22 : Investors betting against US neocloud and data center companies have raked in $6 billion in paper profits so far this month, after fears their debt-fueled AI buildout was becoming unsustainable sparked a selloff. Short interest in CoreWeave, IREN, Nebius Group, Applied Digital and Core Scientific ra
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Nvidia’s Jensen Huang says he sees no sign of a 2029 memory glut: ‘You can always use more’
Nvidia’s Jensen Huang told CNBC that a surplus of memory supply is unlikely by 2029, as memory stocks have taken a beating in the past week.
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