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☆ Monthly Meeting update: Jim Cramer says buy this cloud play and this industrial stock
▼ + stars: | 2023-08-18 | by ( Jeff Marks | ) www.cnbc.com time to read: +8 min

In an up-and-down market since our July Monthly Meeting, we added two stocks to our portfolio: an industrial name and an emerging cloud play. The business software giant is emerging as a cloud infrastructure name that has really come on as of late. For years, Oracle lagged behind the likes of Amazon Web Services, Azure, and Google Cloud, but the company hit a turning point when it launched its second-generation cloud infrastructure offering, called Oracle Cloud Infrastructure Generation 2, or OCI Gen 2, in the summer of 2020. Total cloud revenue growth surged to 54%, with 45% growth for Cloud Applications and 76% growth for Cloud Infrastructure. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.

Persons: Jim Cramer, I'm, Ed Breen, DuPont, Rogers, Dupont, Jim Cramer's, Jim, Spencer Platt Organizations: Oracle, DuPont, Amazon Web Services, Google, Oracle Cloud Infrastructure, Nvidia, Cloud Infrastructure, Management, Microsoft, Federal Reserve, Rogers Corporation, CNBC, Traders, New York Stock Exchange, Getty Locations: China, DowDuPont, New York City

☆ Lenovo Q1 revenue misses forecasts, hit by poor PC demand
▼ + stars: | 2023-08-17 | by ( Josh Ye | ) www.reuters.com time to read: +3 min

The world's largest PC maker has now suffered four consecutive quarters of sales declines. Revenue in the April-June quarter fell to $12.9 billion, below a $13.84 billion average of seven analyst estimates compiled by Refinitiv. Lenovo shares in Hong Kong fell as much as 6% after the result but recouped some losses to trade down 2.9%, while the benchmark index (.HSI) gained 0.9%. However, revenue started contracting last year as demand began to fall, weighed down by rising interest rates and soaring inflation. "The group’s PC business is stabilizing and well-positioned for a year-on-year recovery in the later part of 2023," Lenovo said in a statement.

Persons: Thomas White, HSI, Yang Yuanqing, he's, Yang, Josh Ye, Miyoung Kim, Lincoln, Sonali Paul Organizations: Lenovo, REUTERS, HK, Revenue, Refinitiv, Global, Thomson Locations: HONG KONG, Hong Kong, China

☆ Researchers use cloud to replicate supercomputer for heart disease study
▼ + stars: | 2023-08-16 | by ( Max A. Cherney | ) www.reuters.com time to read: +2 min

3D printed clouds and figurines are seen in front of the Google Cloud service logo in this illustration taken February 8, 2022. REUTERS/Dado Ruvic/Illustration Acquire Licensing RightsAug 16 (Reuters) - A scientist at Harvard used Google's cloud platform to clone a supercomputer for a heart disease study, in a novel move that other researchers could follow to get around a shortage of powerful computing resources and speed up their work. But cloud computing operations aren't designed to handle the demands researchers have. They are designed for millions of individual, relatively small computing tasks - things such as streaming video, serving webpages or database access. Modifying cloud infrastructure to behave like a supercomputer requires changes in the software, networking and physical design of the hardware, Magro said.

Persons: Dado Ruvic, Petros Koumoutsakos, Koumoutsakos, Costas Bekas, Bill Magro, Magro, Max A, Sonali Paul Organizations: Google, REUTERS, Harvard, Citadel Securities, Citadel, Inc, Thomson Locations: U.S, San Francisco

For a long time, as those three companies moved first and established large initial market shares in the cloud, Oracle looked like it was being left behind. But the turning point was when Oracle launched its second-generation cloud infrastructure offering, called Oracle Cloud Infrastructure Generation 2, or OCI Gen 2, in the summer of 2020. In the second quarter of fiscal 2023 (the three months ended November 2022), Total Cloud revenue grew 43%, with 40% growth for Cloud Applications and 53% growth for Cloud Infrastructure. In the third quarter of fiscal 2023 (the three months ended February 2023), Total Cloud revenue accelerated back to 45%, with 42% growth for Cloud Applications and 55% growth for Cloud Infrastructure. Total Cloud revenue growth surged to 54% again, with 45% growth for Cloud Applications and 76% growth for Cloud Infrastructure.

Persons: Jim Cramer's, Jim, it's, Larry Ellison, Oracle, Microsoft —, we're, Jim Cramer, Justin Sullivan Organizations: Oracle, ORCL, Nasdaq, Amazon Web Services, Google, Oracle Cloud Infrastructure, AWS, Nvidia, Cloud Infrastructure, Management, Microsoft, Charitable Trust, Club, APPLE, CNBC Locations: China, Redwood Shores , California

☆ From Elon Musk to Chinese tech titans, everyone wants Nvidia's GPU chips. There might not be enough to go around.
▼ + stars: | 2023-08-12 | by ( George Glover | ) www.businessinsider.com time to read: +3 min

Elon Musk has loaded up on Nvidia GPUs for X, xAI, and Tesla. Meanwhile, Chinese tech titans are reportedly scrambling to buy $5 billion worth of the chips. But there are signs emerging that there may not be enough of Nvidia's chips to go around, with multiple top executives warning that demand is massively outpacing supply. Soaring demandThe massive increase in interest in artificial intelligence has been a key factor driving demand for Nvidia's semiconductors. Perhaps the strongest sign that demand for Nvidia's chips is soaring came in May, when it released stellar second-quarter revenue forecasts that smashed Wall Street's expectations by 50%.

Persons: Elon Musk, Biden, Tesla, Adam Selipsky, Matthew Prince, there's, Barron's Organizations: Nvidia, titans, Service, Soaring, New, Research, Financial Times, Elon, Twitter, Web Locations: Wall, Silicon

☆ Microsoft's role in data breach part of US cyber inquiry -Bloomberg News
▼ + stars: | 2023-08-11 | by ( ) www.reuters.com time to read: +1 min

A Microsoft logo is seen in Los Angeles, California U.S. November 7, 2017. REUTERS/Lucy Nicholson/File PhotoCompanies Microsoft Corp FollowAug 10 (Reuters) - A U.S. cybersecurity advisory panel will investigate risks in cloud computing that will also include Microsoft Corp's (MSFT.O) role in the recent breach of government department email systems by suspected Chinese hackers, Bloomberg News reported on Thursday. That access was used to spy on the communications of U.S. Commerce Secretary Gina Raimondo and senior State Department diplomats. The U.S. House of Representatives Oversight Committee last week said it was opening an investigation into China's suspected involvement in recent breaches of Commerce and State department email systems. Reporting by Gokul Pisharody in Bengaluru; Editing by Himani Sarkar and Jamie FreedOur Standards: The Thomson Reuters Trust Principles.

Persons: Lucy Nicholson, Ron Wyden, Gina Raimondo, CISA, Gokul, Himani Sarkar, Jamie Freed Organizations: Microsoft, Los Angeles , California U.S, REUTERS, Bloomberg, Federal Trade Commission, Infrastructure Security Agency, Justice Department, U.S . Commerce, State Department, U.S . House, Commerce, Thomson Locations: Los Angeles , California, U.S, Oregon, Bengaluru

☆ Chinese tech giant Huawei reports tepid consumer revenue growth for the first half of 2023
▼ + stars: | 2023-08-11 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +3 min

Kevin Frayer | Getty Images News | Getty ImagesBEIJING — Chinese tech giant Huawei on Friday reported 2.2% year-on-year growth in its consumer business revenue for the first half of the year. At 103.5 billion yuan ($14.27 billion) in first six months of 2023, Huawei's consumer revenue was less than half what the segment had generated during the same period in 2019 and 2020. watch nowCloud services brought in revenue of 24.1 billion yuan, while intelligent automotive solutions — whose products include tech for new energy vehicles — saw revenue of 1 billion yuan in the first six months of 2023. Those sales are generally counted as part of the consumer business. Looking for smartphone growthOverall revenue growth in the first half of 2023 comes off a low base.

Persons: Kevin Frayer, Donald Trump Organizations: Getty, Huawei, CNBC Locations: Dongguan, Shenzhen, China, BEIJING, U.S

☆ RBC: These 19 stocks with an early lead in the AI revolution will continue to profit from rising demand in semiconductors, cloud computing, and more
▼ + stars: | 2023-08-10 | by ( Mark Reeth | ) www.businessinsider.com time to read: +3 min

RBC identified the stocks profiting from AI today while positioning themselves for future success. 19 stocks profiting from rising AI demandA number of themes leapt out from earnings reports and calls with management, the RBC analysts wrote. Companies leading the charge in AI investments enjoyed strong second-quarter earnings, thanks in part to those very investments. But AI isn't just bringing money in — companies are also spending more on AI than ever, RBC noted. After poring through earnings announcements from AI-related companies, RBC analysts identified the following 19 stocks that they believe are benefiting most from AI demand right now.

Persons: Jonathan Atkin Organizations: RBC, RBC Capital Markets, Companies, Microsoft, Google, NVIDIA, NVIDIA's, Nvidia, Oracle

☆ Nvidia unveils an update to a new A.I. chip that hasn't even shipped yet — an aggressive move to keep its crown
▼ + stars: | 2023-08-09 | by ( Kevin Stankiewicz | In Kevinstankiewicz | ) www.cnbc.com time to read: +9 min

"No one is coming for Nvidia on AI, period, any time soon," Stifel analyst Ruben Roy told CNBC in an interview Wednesday. The new version of Grace Hopper primarily delivers improvements in memory capacity and bandwidth compared with the first-generation product. In practice, improving the memory capacity and bandwidth of the Grace Hopper Superchip should help AI applications run more efficiently and smoothly. Volume production of the improved Grace Hopper Superchip is expected in the second quarter of 2024, according to Nvidia. Open-source software Nvidia's closed-source CUDA software platform – along with a library of pre-trained AI models — has helped establish the company's AI dominance.

Persons: it's, Grace Hopper Superchip, Ruben Roy, Grace Hopper, ChatGPT, Roy, Hopper, Nvidia, Pat Gelsinger, Nvidia's, Omniverse, Jim Cramer, Nvidia hasn't, Jim, enabler —, Jim Cramer's, Jensen Huang, Walid Berrazeg Organizations: Nvidia, Club, Devices, CNBC, Microsoft, Bank of America, AMD, Nvidia DGX, Intel, BMW, Computer, Getty Locations: Taipei

☆ Cloud stocks falter as Datadog trims 2023 revenue expectations
▼ + stars: | 2023-08-08 | by ( Jordan Novet | ) www.cnbc.com time to read: +5 min

Cloud stocks slipped on Tuesday, after one of the more prominent ones, Datadog , lowered its full-year revenue guidance as organizations remain engaged in cost-saving exercises. Then inflation hit, central bankers raised interest rates, and investors began selling holdings in fast-growing cloud stocks and rotating into safer investments that could more consistently offer returns. Executives at many cloud companies responded by reducing overhead, sometimes in the form of layoffs. Cloud stocks began to rebound, but many, including Datadog, have yet to trade above their record highs from 2021. Like Datadog, Everbridge , whose software helps companies respond to emergencies, lowered its growth expectations for the full year on Tuesday.

Persons: Datadog, Refinitiv, Olivier Pomel, Pomel, Bernstein, Peter Weed, Covid, RingCentral, Hewlett Packard, Tarek Robbiati, Vlad Shmunis, Sonalee Parekh, Patrick Brickley Organizations: Computing Fund, Bernstein Research, Nasdaq Locations: U.S, Smartsheet, Snowflake

☆ Top tech investor names 5 tech stocks to buy — and says 2 still have 'a lot of upside'
▼ + stars: | 2023-08-08 | by ( Weizhen Tan | ) www.cnbc.com time to read: +2 min

Top tech investor Paul Meeks says he'll likely buy the dip in stocks, as he doesn't expect a significant and long-lasting downturn, he told CNBC. "Tech and aggressive growth stocks in particular, have done so well, this year, probably got way ahead of themselves going up too far too fast. The five tech stocks he said he would buy are Meta , Alphabet , Extreme Networks , Arista Networks and Shopify . Meeks added that he would also consider one small-cap tech stock that's "too cheap:" Harmonic , a video-streaming tech company. Here's how much average potential upside Wall Street is giving the stocks Meeks mentioned, according to FactSet.

Persons: Paul Meeks, he'll, Meeks, CNBC's, Amazon Meeks, He's, AAPL Organizations: CNBC, Wall, Nasdaq, Dow, Tech, Independent Solutions Wealth Management, Networks, Arista Networks, Apple, titans Apple, Oracle Locations: U.S, China

☆ These stocks had the biggest earnings surprises because of A.I.
▼ + stars: | 2023-08-08 | by ( Samantha Subin | ) www.cnbc.com time to read: +3 min

As second-quarter earnings season winds down, RBC Capital Markets is looking back at some companies that experienced the biggest earnings surprises due to the latest technology trend transforming the globe. "Artificial Intelligence remains a key focus for many companies, with significant investments in AI technologies and services," wrote RBC analyst Jonathan Atkin. AI discussion dominated the earnings of companies across industries, including technology, with some companies posting strong quarterly surprises as a result of the trend. In its latest earnings, Amazon touted some of its AI plans, including custom AI chips and its Bedrock platform . Many Wall Street analysts have cheered the Facebook and Instagram parent's recent cost-cutting initiatives and AI investments, in addition to a rebound in its advertising business.

Persons: Jonathan Atkin, Wall, workloads, — CNBC's Michael Bloom Organizations: RBC Capital Markets, Nvidia, Apple, Microsoft, RBC, Amazon, Intel, Oracle

☆ Amazon soars on 'game-changing' quarter, iPhone slump drags Apple
▼ + stars: | 2023-08-04 | by ( Aditya Soni | ) www.reuters.com time to read: +3 min

FILE PHOTO-The logo of Amazon is seen at the company's logistics center in Bretigny-sur-Orge, near Paris, France, November 25, 2022. Online retail giant Amazon's shares closed at a near one-year high and added more than $109 billion to its market value. "The second quarter is a game-changing quarter for Amazon; we would call it an-all clear moment," said SVB MoffettNathanson analyst Michael Morton. The surge in Amazon's stock reflected analysts' increased estimates for its earnings. But its services business was a bright spot and helped Apple top profit expectations for the June quarter.

Persons: Benoit Tessier, SVB, Michael Morton, —, Dan Coatsworth, AJ Bell, Aditya Soni, Samrhitha, Joice Alves, Noel Randewich, Chavi Mehta, Amanda Cooper, Saumyadeb Organizations: REUTERS, Google, Microsoft, Wall Street, Amazon, Refinitiv, Apple, Thomson Locations: Bretigny, Paris, France, Apple's, Bengaluru, London

☆ Amazon surges on 'game-changing' quarter, iPhone slump drags Apple
▼ + stars: | 2023-08-04 | by ( Aditya Soni | ) www.reuters.com time to read: +3 min

FILE PHOTO-The logo of Amazon is seen at the company's logistics center in Bretigny-sur-Orge, near Paris, France, November 25, 2022. Online retail giant Amazon was set to add about $120 billion to its market value, based on premarket movements. "The second quarter is a game-changing quarter for Amazon; we would call it an-all clear moment," said SVB MoffettNathanson analyst Michael Morton. But its services business was a bright spot and helped Apple top profit expectations for the June quarter. "It is time for Apple to launch something new and innovative, not just another variation of its core products."

Persons: Benoit Tessier, SVB, Michael Morton, —, Dan Coatsworth, AJ Bell, Aditya Soni, Samrhitha, Joice Alves, Amanda Cooper, Saumyadeb Organizations: REUTERS, Google, Apple, Microsoft, Wall Street, Amazon, Thomson Locations: Bretigny, Paris, France, Apple's, Bengaluru, London

☆ Atlassian shares skyrocket as CEOs see wider margins returning
▼ + stars: | 2023-08-03 | by ( Jordan Novet | ) www.cnbc.com time to read: +3 min

Atlassian shares jumped as much as 24% in extended trading on Thursday after the collaboration software maker announced stronger-than-expected fiscal fourth-quarter results and promised wider margins in the future. Here's how the company did:Earnings: 57 cents per share, adjusted, vs. 45 cents per share as expected by analysts, according to Refinitiv. 57 cents per share, adjusted, vs. 45 cents per share as expected by analysts, according to Refinitiv. Revenue: $939.1 million, vs. $914.6 million as expected by analysts, according to Refinitiv. The company's net loss of $59 million or 23 cents per share, narrowed from $90.6 million, or 36 cents per share, in the year-ago quarter.

Persons: Scott Farquhar, Atlassian, Refinitiv, Mike Cannon, Brookes, Cameron Deatsch, Farquhar, Salesforce, NFJ's Organizations: Atlassian Corp, Allen, Co . Media, Technology Conference, StreetAccount, Management, Cloud, Cannon, Microsoft Locations: Sun Valley , Idaho, Refinitiv

☆ Here's the trade on Amazon heading into earnings, according to analysts
▼ + stars: | 2023-08-03 | by ( Michelle Fox | ) www.cnbc.com time to read: +3 min

Wall Street analysts are bullish on Amazon heading into earnings. Here's how several analysts are trading Amazon ahead of its latest earnings report. Bank of America is also bullish, maintaining its buy rating and $154 price target into earnings, which suggests roughly 20% upside. "We continue to see an attractive set-up on the stock based on our Triple Trough Thesis (trough multiple, trough margin, and trough revenue growth). On Monday, the firm reiterated its buy rating and $145 price target, which suggests 13% upside from Wednesday's close.

Persons: StreetAccount, Morgan Stanley, Brian Nowak, Nowak, Lloyd Walmsley, Walmsley, Justin Post, Amazon's, Mark Mahaney's, Mahaney, — CNBC's Michael Bloom Organizations: Amazon Web Services, UBS, Bank of America, AWS, Triple, Citi Locations: 1Q23

☆ Alibaba unveils open-sourced AI model similar to Meta's Llama 2
▼ + stars: | 2023-08-03 | by ( ) www.reuters.com time to read: 1 min

3D printed clouds and figurines are seen in front of the Alibaba Cloud service logo in this illustration taken February 8, 2022. REUTERS/Dado Ruvic/Illustration/File PhotoHONG KONG, Aug 3 (Reuters) - Chinese tech giant Alibaba Group's (9988.HK), cloud computing unit released two open-sourced artificial intelligence (AI) models on Thursday in a bid to take on Meta Platform (META.O). The Hangzhou-based company said it will open-source two large language models (LLM), a type of AI model, named Qwen-7B and Qwen-7B-Chat on Thursday in a press release. Each model has 7 billion parameters, which is often used to measure the strength. This comes after Meta unveiled a similar open-sourced model named Llama 2 last month.

Persons: Dado Ruvic, HONG KONG, Josh Ye, Himani Sarkar Organizations: REUTERS, HK, Meta, Thomson Locations: HONG, Hangzhou

☆ Microsoft is touting the size and growth rate of its Salesforce rival Dynamics
▼ + stars: | 2023-08-03 | by ( Jordan Novet | ) www.cnbc.com time to read: +5 min

Microsoft still isn't disclosing the size of its Azure business, providing only the growth rate for the cloud business and leaving investors guessing how its revenue compares to Amazon and Google . But in its much smaller Dynamics business, which includes software for salespeople, marketers and customer-service agents, Microsoft has suddenly opted for greater transparency. In its annual report to investors last week, Microsoft disclosed Dynamics revenue in a table alongside other products for the first time. He also noted that Microsoft Sales Copilot, a tool capable of writing business-oriented email drafts, integrates with Dynamics as well as Salesforce's software. Partly motivated by Microsoft's AI capabilities, some companies are switching to Dynamics from Salesforce, said Manny Medina, CEO of sales software startup Outreach.

Persons: Satya Nadella, Flipkart, Nadella, Manny Medina, Medina, Salesforce, Bret Taylor, Marc Benioff, they're, Doug Burgum, Adam Mansfield, Mansfield Organizations: Microsoft Corp, Microsoft, Google, Dynamics, Products, Cloud Services, Technology, IDC, Oracle, SAP, CNBC, Industry, Marketing, Commerce Cloud, Plains Software, North, Republican Locations: Mumbai, India, MSFT, Marketing Cloud, Commerce, North Dakota, Great Plains

☆ Amazon CEO Jassy's cost cuts deliver investors biggest profit beat since 2020
▼ + stars: | 2023-08-03 | by ( Annie Palmer | In Annierpalmer | ) www.cnbc.com time to read: +4 min

Amazon delighted investors on Thursday, posting earnings of 65 cents a share, blowing past estimates of 35 cents a share. In Jassy's prepared remarks at the start of Thursday's earnings call, cost cuts were one of his central themes. The broad-based changes under Jassy have left the company less dependent on its cloud business, Amazon Web Services, for profits. In the second quarter, Amazon was able to expand its overall margin while AWS's profit margin declined to 24.2% from 29% a year earlier. But at only 12% year-over-year growth, the cloud business is seeing its slowest expansion since Amazon began breaking out its revenue in 2015.

Persons: Andy Jassy, Jeff Bezos, he's, Bezos, Jassy, Jassy's, Amazon Organizations: New York Times, Amazon, North America, Amazon Web, AWS Locations: New York City, riskier, North, America

☆ Amazon to invest $7.2 bln in Israel, launches AWS cloud region
▼ + stars: | 2023-08-01 | by ( ) www.reuters.com time to read: +1 min

Aug 1 (Reuters) - Amazon.com (AMZN.O) said on Tuesday it is planning to invest about $7.2 billion through 2037 in Israel, and launched its Amazon Web Services (AWS) data centers in the country. Amazon's cloud services in the region will allow the country's government to run applications and store data in data centers located in Israel. AWS is Amazon's cloud computing platform, used by companies such as Netflix (NFLX.O), General Electric (GE.N) and Sony (6758.T), enabling storage, networking and remote security. With the expansion, AWS will be available in 32 geographic regions, the company said, adding that its investment in Israel will contribute about $13.9 billion to Israel's gross domestic product. Reporting by Zaheer Kachwala in Bengaluru; Editing by Krishna Chandra EluriOur Standards: The Thomson Reuters Trust Principles.

Persons: Yali Rothenberg, Zaheer Kachwala, Krishna Chandra Organizations: Web Services, Netflix, General Electric, Sony, Thomson Locations: Israel, Bengaluru

Aug 1 (Reuters) - An obscure cloud service company has been providing state-sponsored hackers with internet services to spy on and extort their victims, a cybersecurity firm said in a report to be published on Tuesday. Researchers at Texas-based Halcyon said a company called Cloudzy had been leasing server space and reselling it to no fewer than 17 different state-sponsored hacking groups from China, Russia, Iran, North Korea, India, Pakistan and Vietnam. Halcyon estimated that roughly half of Cloudzy’s business was malicious, including renting services to two ransomware groups. The cybersecurity firm CrowdStrike, which wasn’t involved in the research, said that it hadn’t seen state-sponsored hackers using Cloudzy. He said the company needed U.S. domicile to be able to register internet protocol addresses in America.

Persons: Halcyon, Cloudzy, Hannan Nozari, couldn’t, Nozari, ”, Ryan Golden, wasn’t, It’s, – CloudPeak, Sheridan –, Adam Meyers, “, Christopher Bing, Cynthia Osterman Organizations: LinkedIn, Reuters, ”, Nozari, CrowdStrike, Thomson Locations: Texas, China, Russia, Iran, North Korea, India, Pakistan, Vietnam, Tehran, Nozari, Cyprus, U.S ., Wyoming, America, Sheridan

☆ Western Digital's first-quarter forecast disappoints as weak cloud demand weighs
▼ + stars: | 2023-07-31 | by ( ) www.reuters.com time to read: +2 min

July 31 (Reuters) - Memory chipmaker Western Digital Corp (WDC.O) forecast a bigger-than-expected loss in the first quarter and revenue below Wall Street targets on Monday as weak demand, mainly for its cloud business, forces it to cut production. Cloud companies will take another "couple of quarters" to clear out excess inventory, finance chief Wissam Jabre said in June. Western Digital forecast its adjusted loss per share to be in the range of $2.10 to $1.80, compared to an estimated loss of $1.40 per share. It also forecast revenue for the same period below estimates. Rival Seagate Technology (STX.O) also forecast downbeat revenue for its first quarter last week, on weakness in major market China and lower tech spending.

Persons: Wissam Jabre, David Goeckeler, Goeckeler, Chavi Mehta, Stephen Nellis, Pooja Desai Organizations: Digital Corp, Seagate Technology, Western Digital, Samsung Electronics, SK Hynix, Thomson Locations: China, South, Bengaluru, San Francisco

[1/2] FILE PHOTO-The logo of Foxconn is pictured on top of a company's building in Taipei, Taiwan October 31, 2022. The facility will be separate from the current sprawling campus near Chennai where Foxconn assembles Apple's (AAPL.O) iPhones and employs more than 35,000 people, the source said. "This is a major achievement for the state," Tamil Nadu Minister for Industries TRB Rajaa said in a statement, after Foxconn Chairman Young Liu and other representatives met with the state officials including its chief minister. Reuters reported last week that the Foxconn subsidiary was in talks with Tamil Nadu about the investment, with the company aiming for the plant's completion in 2024. Foxconn plans to quadruple the workforce at its iPhone factory in Tamil Nadu by late 2024 in a bid to spread its bets beyond China, Reuters reported last year.

Persons: Carlos Garcia Rawlins, Foxconn, Industries TRB Rajaa, Young Liu, Liu, Foxconn's, Munsif, Yi, Mou Lee, Aditya Kalra, Jamie Freed, Himani Organizations: REUTERS, Industrial, Tamil Nadu Minister, Industries, Foxconn, Sunday, Reuters, Tamil, Thomson Locations: Taipei, Taiwan, CHENNAI, Kancheepuram, Chennai, Tamil, India, Tamil Nadu, China, Bengaluru, Praveen

☆ Microsoft warns of service disruptions if it can’t get enough A.I. chips for its data centers
▼ + stars: | 2023-07-28 | by ( Jordan Novet | ) www.cnbc.com time to read: +3 min

Satya Nadella, chief executive officer of Microsoft Corp., during the company's Ignite Spotlight event in Seoul, South Korea, on Tuesday, Nov. 15, 2022. Microsoft is emphasizing to investors that graphics processing units are a critical raw material for its fast-growing cloud business. OpenAI relies on Microsoft's Azure cloud to perform the computations for ChatGPT and various AI models, as part of a complex partnership. Those efforts and the interest in ChatGPT have led Microsoft to seek more GPUs than it had expected. Microsoft has begun looking outside its own data centers to secure enough capacity, signing an agreement with Nvidia-backed CoreWeave, which rents out GPUs to third-party developers as a cloud service.

Persons: Satya Nadella, chatbot, Jensen Huang, ChatGPT, Amy Hood, Rowe's Dom Rizzo Organizations: Microsoft Corp, Microsoft, Nvidia, AMD Locations: Seoul, South Korea

☆ Google, Microsoft, and Meta can't stop talking about A.I. — here's why Apple rarely mentions it
▼ + stars: | 2023-07-28 | by ( Kif Leswing | ) www.cnbc.com time to read: +6 min

Stefani Reynolds | AFP | Getty ImagesMicrosoft, Google and Meta are rallying everyone around AI, even though the future is murkyGoogle launched Bard AI, it's own chatbot to rival Microsoft and OpenAI's ChatGPT. Google, for example, has announced its plans to revamp its search engine using an AI model called Search Generative Experience. Google and Pichai say that the company's text-generating AI models will make its search engine better and could even answer questions that normal Google search can't. Zuckerberg was effusive about AI technology and its applications in virtual reality, ad targeting and recommending content from accounts users don't follow. UBS analyst Lloyd Walmsley wrote this week that generative AI was still an "overhang" over Google.

Persons: Tim Cook, Narendra Modi, Stefani Reynolds, ChatGPT, Jonathan Raa, OpenAI's, Amy Hood, we'll, Nadella, Pichai, it's, Zuckerberg, Meta, Bing, Gartner, Mark Murphy, Laura Martin, Lloyd Walmsley, monetization, Walmsley, Scott Olson Organizations: India's, White, AFP, Getty, Microsoft, Google, Nurphoto, Meta, Apple, Big Tech, Nvidia, Venture, JPMorgan, UBS Locations: Washington ,, iPhones, Brussels, Belgium, Chicago

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