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☆ GlobalFoundries projects profit above estimates in positive sign for chip market
▼ + stars: | 2023-11-07 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Brendan McDermid/File Photo Acquire Licensing RightsNov 7 (Reuters) - Contract chipmaker GlobalFoundries (GFS.O) forecast fourth-quarter profit above analysts' estimates on Tuesday, providing the latest sign that a supply glut in the semiconductor industry was easing. Both Intel (INTC.O) and Advanced Micro Devices (AMD.O) have indicated that a recovery is afoot in the personal computer market, a key source of revenue for semiconductor makers. GlobalFoundries said it expects adjusted profit per share to be in the range of 53 cents to 64 cents in the three months to December, above estimates of 52 cents, according to LSEG data. The company, whose customers range from mobile phone chip designer Qualcomm (QCOM.O) to the U.S. Department of Defense, said net revenue fell 11% to $1.85 billion in the third quarter, but came in line with estimates. Adjusted earnings of 55 cents per share beat estimates of 49 cents.

Persons: Brendan McDermid, Thomas Caulfield, GlobalFoundries, Arsheeya, Sriraj Organizations: Nasdaq, REUTERS, Intel, Devices, Qualcomm, U.S . Department of Defense, Thomson Locations: New York City, U.S, Bengaluru

☆ Lockheed Martin CEO says America needs to invest in digital defense systems to prepare for the future
▼ + stars: | 2023-11-07 | by ( Julie Coleman | ) www.cnbc.com time to read: +1 min

Lockheed Martin CEO Jim Taiclet told CNBC's Jim Cramer on Tuesday that the U.S. needs to invest in digital technology to prepare for the future. Taiclet added that Lockheed has alliances with companies like Nvidia, Microsoft and Intel to bring digital technology more quickly into the defense sector. The Biden administration is seeking a $105 billion security aid package to support the security needs of allies like Ukraine and Israel. According to Taiclet, Lockheed is capable of doubling its F35 aircrafts with the right investments from government and its suppliers, but it might take a few years. "We want to be on offense and defense and use the latest technology to actually make that happen," he said.

Persons: Lockheed Martin, Jim Taiclet, CNBC's Jim Cramer, Taiclet, Biden Organizations: Lockheed, Nvidia, Microsoft, Intel Locations: Ukraine, Israel

Traders work on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., October 27, 2023. Federal Reserve Bank of Minneapolis President Neel Kashkari doused hopes of early rate cuts late on Monday, saying the central bank likely has more work ahead of it to control inflation. Market participants will parse commentary from Fed Board Governor Christopher Waller and New York Fed President John Williams later on Tuesday for more clues on the central bank's interest rate path. Uncertainty about the timing of potential rate cuts and some dismal corporate forecasts for the fourth quarter have cast a doubt on whether there could be a year-end rally for stocks. ET, Dow e-minis were down 106 points, or 0.31%, S&P 500 e-minis were down 14.5 points, or 0.33%, and Nasdaq 100 e-minis were down 43.25 points, or 0.28%.

Persons: Brendan McDermid, Neel Kashkari, Christopher Waller, John Williams, Jerome Powell's, Ipek Ozkardeskaya, Amruta Khandekar, Maju Samuel Organizations: New York Stock Exchange, REUTERS, Companies, Dow, Nasdaq, Federal Reserve, Federal Reserve Bank of Minneapolis, Treasury, U.S, Fed, New York Fed, Swissquote Bank, EBay, Dow e, Exxon Mobil, Chevron, Occidental Petroleum, Intel, Thomson Locations: New York City, U.S, China

☆ Elon Musk laid him off. Now he’s aiming to build a social network that’s better than X
▼ + stars: | 2023-11-07 | by ( Clare Duffy | ) edition.cnn.com time to read: +17 min

They wanted it to be everything most social media struggles to be: positive, safe and inclusive. And as the user base of the platform now known as X splinters, so does Black Twitter, the community of Black users that was a big part of Twitter’s growth and culture. Legacy social media platforms have repeatedly failed to anticipate how their products might be manipulated or misused until something goes wrong. Alphonzo Terrell, co-founder of the social media app Spill, demonstrates how the platform works during an interview with CNN. CNNEven with AI content moderation models, other social media companies often fail to catch harmful content that makes it onto their platforms.

Persons: Alphonzo Terrell, he’d, Terrell – who’d, –, Elon Musk, Terrell, DeVaris Brown, “, ‘, ’ ” Terrell, who’s, Brown, Musk, ”, Maya Umemoto Gorman, …, ” Terrell, Brown —, Kenya Parham, weren’t, Elon, Maya Iman ‘, they’ve, “ That’s, Alphonzo Terrell “, Paul Barrett, they’d, it’s, — don’t, Jalaiah Harmon, Taylor Lorenz, Latoya Lee, ” Lee Organizations: New, New York CNN, Twitter, Elon, CNN, Spill, Washington Post, HBO, Showtime, YouTube, Intel, Cisco, Microsoft, NYU Stern Center for Business, Human, Apple, Kapor Center, Social, Mac Venture, Netflix, Disney, Amazon Prime, VH1, Pew Research Center, New York Times, California State University Fullerton Locations: New York, Los Angeles, Kenya, Spill, Georgia

☆ Workers are missing cog in US manufacturing gears
▼ + stars: | 2023-11-07 | by ( Jeffrey Goldfarb | ) www.reuters.com time to read: +7 min

NEW YORK, Nov 7 (Reuters Breakingviews) - There’s a spanner in the freshly restarted U.S. manufacturing machine. Based in part on the planned construction spending, Goldman Sachs analysts estimate that Biden’s initiatives could lead to as many as 250,000 new manufacturing jobs over the next two years. Pay growth is also cooling faster for production and manufacturing jobs, at 4.2% year-over-year in August, down from an 11% annual peak in December 2021 and compared to the national average of 4.5%, according to jobs website Indeed. By 2030, technological and cognitive skills in the manufacturing sector will be in far higher demand as the share of physical and manual tasks drops by more than a quarter from 2016, McKinsey says. The U.S. manufacturing engine may be humming along now, but employment-related complications threaten to throw sand in the gears.

Persons: Joe Biden’s, Biden, Goldman Sachs, There’s, it’s, Sam, Francesco Guererra, Sharon Lam Organizations: Reuters, Deal, Taiwan Semiconductor Manufacturing, Samsung Electronics, Intel, Bosch, Linde, Public, Ford, SK Innovation, Reuters Graphics Reuters, Department, Bureau of Labor Statistics, McKinsey, University of Massachusetts, Economy Research, of Labor Statistics, Thomson Locations: Arizona, U.S, United States, China, Europe, Asia, it’s, Germany, Amherst

A smartphone with a displayed Intel logo is placed on a computer motherboard in this illustration taken March 6, 2023. The source, who declined to be named because the information was confidential, said Intel had made that decision around July. Intel is also expanding its investment in chip packaging in Malaysia, one of Vietnam's main Southeast Asian rivals. "You cannot take for granted that because Intel has already invested here it will invest more," Chung Seck, partner at law firm Baker & McKenzie Vietnam told Reuters. Asked about the possible investment plan at the time, Intel told Reuters: "Vietnam is an important part of our global manufacturing network, but we have not announced any new investments."

Persons: Dado Ruvic, Joe Biden, Biden's, Tran Luu Quang, chipmakers, Chung Seck, Baker, McKenzie, Francesco Guarascio @fraguarascio, Max Cherney, Khanh, Miyoung Kim Organizations: REUTERS, Rights, Intel, U.S, Reuters, Vietnam's, White House, Marvell, McKenzie Vietnam, Thomson Locations: Rights HANOI, Vietnam, China, Taiwan, United States, U.S, Hanoi, Europe, Malaysia, San Francisco, Khanh Vu

☆ Ukraine's strike on a brand-new missile carrier could force Russian shipbuilders further away from the war, UK intel says
▼ + stars: | 2023-11-07 | by ( Mia Jankowicz | ) www.businessinsider.com time to read: +4 min

Ukraine's strike on a Crimean shipyard poses a problem for Russia's fleet, UK intel said Monday. Ukraine said the Askold, a brand-new cruise missile carrier, was badly damaged in the attack. The strike may force Russia to move its shipbuilding to safer waters, the UK MOD said. A spokesperson for Ukraine's air force, Yuriy Ihnat, named the damaged ship as the Askold, one of Russia's most advanced corvettes. A Ukrainian air force commander hinted that it was struck by a French-supplied SCALP missile, also known as a Storm Shadow missile .

Persons: —, Saturday's, Volodymyr Zelenskyy, Yuriy Ihnat, Ihnat Organizations: intel, MOD, Service, UK's Ministry of Defence, Zaliv Shipbuilding Locations: Ukraine, Russia, Crimea, Ukrainian, Crimea's Kerch, Zaliv, Kerch

☆ Russia is putting its entire economy at risk to fuel its war 'above all else,' UK intel says
▼ + stars: | 2023-11-06 | by ( Natalie Musumeci | ) www.businessinsider.com time to read: +2 min

Russia is putting its economy at risk to fuel its grinding war with Ukraine, UK intelligence said. The Russian economy "is likely at risk of overheating," said UK's Ministry of Defense. Higher inflation could "increase the costs of funding Russia's war in Ukraine," the agency said. "Higher inflation is almost certain to increase the costs of funding Russia's war in Ukraine," British intelligence said. This further illustrates the reorientation of Russia's economy to fuel the war above all else," British intelligence said.

Persons: — Organizations: UK's Ministry of Defense, Service Locations: Russia, Ukraine, Russian

☆ Argentina polls show election race tightening; winner hard to call
▼ + stars: | 2023-11-06 | by ( ) www.reuters.com time to read: +2 min

[1/4] Argentina's presidential candidate Sergio Massa speaks during a press conference a day after the first round of Argentina's presidential election, in Buenos Aires, Argentina October 23, 2023. REUTERS/Cristina Sille/File Photo Acquire Licensing RightsBUENOS AIRES, Nov 6 (Reuters) - Argentina election polls are showing an increasingly tight race between Peronist economy minister Sergio Massa and radical libertarian Javier Milei ahead of a runoff ballot on Nov. 19. The new poll surveyed 2,324 people between Nov. 1-3 and claimed a margin of error of 2.4%. "The difference in favor of Sergio Massa was reduced from 8 to 3 points compared to the first three days after the general election, when the impact of his win shook everything up," Analogias said. Another poll, from Brazil-based Atlas Intel, meanwhile, showed Milei ahead of Massa with 48.5% to 44.7%, with some 7% of people responding "don't know" or saying they would vote blank.

Persons: Sergio Massa, Cristina Sille, Javier Milei, Analogias, Massa, Milei, Patricia Bullrich, Mauricio Macri, Adam Jourdan, Jonathan Oatis Organizations: REUTERS, International Monetary Fund, Milei, Massa, Intel, Thomson Locations: Buenos Aires, Argentina, BUENOS AIRES, Brazil

☆ Citi is bullish about one part of the semiconductor industry. Here are its top stock picks
▼ + stars: | 2023-11-06 | by ( Weizhen Tan | ) www.cnbc.com time to read: +3 min

An upturn in a corner of the semiconductor industry began in the second half of this year, according to Citi. That's DRAM, or dynamic random-access memory — a type of semiconductor memory needed for data processing. The bank cited figures from the Semiconductor Industry Association, which represents the U.S. semiconductor industry. Analog Devices : Citi gave Analog Devices a price target of $200, implying potential upside of around 21%. Onsemi : Given its "superior growth," Citi gave the stock a price target of $85, implying potential upside of around 27%.

Organizations: Citi, Semiconductor Industry Association, Micron, Devices, AMD, Intel, Nvidia, NVIDIA, GlobalFoundries Locations: U.S

☆ Russian troops describe grueling conditions on the front line where they are 'wet from head to toe' and can't even boil a cup of tea, UK intel says
▼ + stars: | 2023-11-05 | by ( Alia Shoaib | ) www.businessinsider.com time to read: +3 min

Russian troops are living in grueling conditions on the front line in Ukraine, the UK MoD said. Soldiers described being "wet from head to toe" for weeks at a time, per the report. They also described eating "monotonous food" and not even being able to boil a mug of tea. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . Soldiers who had recently returned from the front line described being "wet from head to toe" for weeks at a time while speaking at the Ogakov Readings military affairs conference in Moscow on Wednesday.

Persons: —, Oleksandr Popov, Valerii Zaluzhnyi, Volodymyr Zelenskyy Organizations: MoD, Service, UK Ministry of Defence, Sunday, Wednesday, Russian, Reuters Locations: Ukraine, Moscow, Russia, Avdiivka

☆ Ukraine likely destroyed 3 of Russia's prized S-400 missile systems worth $1.5 billion, weakening its air defenses, says UK intel
▼ + stars: | 2023-11-04 | by ( Alia Shoaib | ) www.businessinsider.com time to read: +3 min

Ukraine has destroyed several Russian long-range air defense systems in the last week, the UK MoD said. Unconfirmed reports said that Ukraine used US-provided ATACMS to strike at the Russian systems. AdvertisementAdvertisementUkraine has likely destroyed at least four Russian long-range air defense systems in the last week, weakening Russia's air defenses, the UK Department of Defense said in an intelligence update on Thursday. AdvertisementAdvertisementAdditional Russian air defense losses have been reported in Crimea by Ukrainian sources. The S-400 was built to rival the $1 billion US-made Patriot air defense system but at a lower price.

Persons: —, Russia's Organizations: MoD, Air Defence, Service, UK Department of Defense, Integrated Air Defence System, Russian Telegram, Tactical Missile Systems, Forbes, NATO Locations: Ukraine, Luhansk, Russia, Crimea, France, Turkey

☆ Ukraine and Russia can't break their stalemate because their troops are spread too thin over 745 miles, UK intel says
▼ + stars: | 2023-11-03 | by ( Thibault Spirlet | ) www.businessinsider.com time to read: +2 min

Ukraine and Russia are fighting along a 745-mile front line, the UK Ministry of Defence said. And they're struggling to break through because of how scattered their troops are, the MOD said. Ukrainian forces are 'static' in the south, and Russian troops are collapsing in the east, it said. The UK MOD pointed to the sheer scale of the front, which it says stretches for 745 miles. The UK Ministry of Defence cited airpower as a major factor in the apparent standstill.

Persons: —, Valerii Zaluzhnyi, Zaluzhnyi Organizations: UK Ministry of Defence, MOD, Service, Ukrainian, Ukraine's Armed Forces, The New York Times Locations: Ukraine, Russia, Avdiivka

☆ Russia’s Wagner Group May Provide Air Defense Weapon to Hezbollah, U.S. Intel Says
▼ + stars: | 2023-11-02 | by ( Michael R. Gordon | Vivian Salama | ) www.wsj.com time to read: 1 min

After the death of Wagner leader Yevgeny Prigozhin, the Kremlin is putting a new power structure in place that will take over the group’s sprawling operations in Africa, which have advanced Russian influence on the continent for almost a decade. Photo illustration: JJ LinThe U.S. has intelligence that the Wagner Group, the Russian paramilitary group, may provide an air defense system to Hezbollah, the Lebanese militia, U.S. officials say. The system in question is the SA-22, which uses antiaircraft missiles and air defense guns, to intercept aircraft.

Persons: Wagner, Yevgeny Prigozhin, JJ Lin The Organizations: Wagner Group, Russian, Lebanese, SA Locations: Africa, JJ Lin The U.S, U.S

☆ 'Secret room' decorated by Michelangelo in Florence to open to the public
▼ + stars: | 2023-11-02 | by ( Julia Buckley | ) edition.cnn.com time to read: +3 min

Plus, we’ll get you in the mood before you go with movie suggestions, reading lists and recipes from Stanley Tucci. But it’s Michelangelo Buonarroti’s less bombastic work that’s on display to the public for the first time in the artist’s “secret room” in Florence. The tiny space sits beneath the Medici Chapels in Florence, where Michelangelo sculpted intricate tombs for members of the Medici family behind the church of San Lorenzo in the Sagrestia Nuova, or New Sacristry. The death sentence was rescinded after two months, and Michelangelo returned to work in Florence, before moving to Rome four years later. Francesco Fantani/Courtesy Musei del BargelloThe space has never been open regularly to the public before, but will open for visits on November 15 to highly limited numbers in order to preserve the drawings.

Persons: we’ll, Stanley Tucci, CNN —, David, Michelangelo Buonarroti’s, Michelangelo, Medici, –, Paolo Dal Poggetto, Francesco Fantani, Clement VII –, It’s, ”, Francesca de Luca, Paola D’Agostino Organizations: CNN, intel, Chapel, Museum Locations: St, Peter’s, Rome, Florence, Medici, San Lorenzo, Bargello

CNN —The US has intelligence that Syrian President Bashar al-Assad has agreed to provide the Lebanese militant group Hezbollah with a Russian-made missile defense system, according to two people familiar with the intelligence. The Russian mercenary organization Wagner Group, which operates in Syria, has been tasked with carrying out the delivery of the surface-to-air SA-22 missile system, the people said. The Wall Street Journal previously reported that Wagner may provide the system to Hezbollah. A third source familiar with western intelligence said there was evidence of increasing collaboration between Hezbollah and Wagner in Syria. It is not clear how much influence Russia had over the decision to provide the system to Hezbollah.

Persons: Bashar al, Assad, Wagner, Yevgeny Prigozhin, –, Hassan Nasrallah, CNN’s Oren Liebermann Organizations: CNN, Wagner Group, Street, Russian, US, Kremlin, Israel Locations: Lebanese, Russian, Syria, Russia, Syrian, Iran, Lebanon, Israel, Moscow, –, Gaza

☆ US lawmakers press Biden for plans on Chinese use of open chip technology
▼ + stars: | 2023-11-02 | by ( Stephen Nellis | ) www.reuters.com time to read: +2 min

RISC-V, pronounced "risk five," is a free open-source technology that competes with costly proprietary technology from British semiconductor and software design company Arm Holdings (O9Ty.F), and Intel Corp (INTC.O). It can be used as a key part of anything from a smartphone chip to advanced processors for artificial intelligence. U.S. firms such as Qualcomm (QCOM.O) and Alphabet's (GOOGL.O) Google have embraced RISC-V, but so too have many Chinese companies. Reuters last month reported that at least four influential U.S. lawmakers view Chinese use of the technology as a potential national security threat because RISC-V is not captured by the sweeping export controls the U.S. has imposed on sending chip technology to China. They also asked the Biden administration about how it might apply an existing executive order to require U.S. companies to get an export license before working with Chinese companies on RISC-V technology.

Persons: Florence Lo, Biden, Raimondo, Stephen Nellis, Jamie Freed Organizations: REUTERS, FRANCISCO, Reuters, Arm Holdings, Intel Corp, Qualcomm, Google, Republican, Representatives, Commerce, Thomson Locations: U.S, China, New Jersey , Florida , Michigan, Indiana, San Francisco

☆ Shani Louk became the face of Hamas' brutal massacre. Her family says they'll remember her as a 'pacifist' with a pure soul.
▼ + stars: | 2023-11-02 | by ( Sophia Ankel | ) www.businessinsider.com time to read: +8 min

Shani Louk was a German-Israeli tattoo artist who was thought to have been kidnapped by Hamas. Shani Louk, dressed in an olive green two-piece, is one of them. AdvertisementAdvertisementRicarda Louk sits in front of a placard of her daughter Shani Louk Tuesday Oct. 17, 2023 in Tel Aviv. Evelyn Hockstein/Reutersn the early years of her life, Louk's family moved to Portland, Oregon, after her father, Nissim, got a job at Intel. In other photos posted by her sister, the Louk family appears to be very close.

Persons: Shani Louk, Louk, —, Akbar, Alleruzzo, Amit, Louk's, Ricarda, Der Spiegel, Adi, Nissim, Ricarda Louk, Li, Evelyn Hockstein, Devorah Spilman, Spilman, Evenlyn Hockstein, didn't, Orión Hernández Radoux, Radoux, Amir Cohen, Netanyahu, Gallant, Ammar Awad, isn't, Shani Organizations: Service, Nova, Hamas, Sky News, Intel, Portland Jewish Academy, Orly, Reuters, Defence, Süddeutsche Zeitung, Israeli Locations: German, Gaza, Hamas, Israel, Tel Aviv, Ravensburg, Germany, Srigim, Portland , Oregon, Orly, Greece

☆ Arm is at the forefront of the AI revolution. Here's how it's powering billions of devices, from smartphones to cloud servers.
▼ + stars: | 2023-11-02 | by ( Sponsor Post | Created Arm With Insider Studios | ) www.businessinsider.com time to read: +7 min

In 1990, Arm (NASDAQ: ARM), then a startup based in Cambridge, UK, filled the void with high-performance, power-efficient, and small form-factor processor technology for battery-run products. The processor architecture was so robust that AI functions could be built into the devices themselves – voice, touch, and facial recognition. Delivering the right compute, from cloud to edgeEnormous cloud data centers process most of the world's big AI workloads today because they can do so more efficiently at scale. Arm technology is also designed to follow and support AI workloads as they increasingly get distributed outside the cloud to edge devices. As the most pervasive CPU architecture ever, Arm is at the forefront of the AI/ML revolution, powering billions of devices from smartphones to cloud servers.

Persons: Grace Hopper, We're Organizations: NASDAQ, ARM, Intel, NVIDIA, Insider Studios Locations: Cambridge, UK

☆ Chip Makers’ PC Boost Not Built to Last
▼ + stars: | 2023-11-01 | by ( Dan Gallagher | ) www.wsj.com time to read: 1 min

PCs have proved to be the saving grace for Intel and Advanced Micro Devices this earnings season. Photo: Alex Kraus/Bloomberg NewsIt’s a testament to how odd the chip market is right now that personal-computer demand is actually a source of strength. PC sales have been in a downspin since early last year, following two years of pandemic-induced growth. The downturn has been such that the 7.6% year-over-year decline in unit sales that market-research firm IDC reported for the third quarter actually counted as a notable improvement, as sales had been falling by double digits for the previous five periods. IDC projects PC shipments will total 252 million units globally this year—down 14% from last year and the lowest annual sales number the firm has reported in more than a decade.

Persons: Alex Kraus, It’s Organizations: Intel, Bloomberg, IDC

☆ After a Boom and Bust, the Chip Industry Is Regaining Its Health
▼ + stars: | 2023-11-01 | by ( Jiyoung Sohn | Asa Fitch | ) www.wsj.com time to read: 1 min

Intel’s chief executive said the company is ‘seeing very healthy behavior’ going into the last quarter of the year. Photo: Brent Lewin/Bloomberg NewsThe global semiconductor industry is bottoming out, executives say, signaling a rebound in some areas of technology and providing relief for the U.S. government, which is spending billions on expanding chip production. In recent weeks, executives at Intel , Taiwan Semiconductor Manufacturing Co. and Samsung Electronics have expressed confidence that the worst is over for the chip industry, which had been in a prolonged slump.

Persons: Brent Lewin Organizations: Bloomberg, U.S ., Intel, Taiwan Semiconductor Manufacturing Co, Samsung Electronics

☆ Apple hints at an AI-focused future and ‘scary fast’ upgrades
▼ + stars: | 2023-11-01 | by ( Samantha Kelly | ) edition.cnn.com time to read: +4 min

The focus of the event, which featured the tagline “scary fast,” was Apple’s new custom-made M3 chips, the M3, M3 Pro and M3 Pro Max. The chips will ship with Apple’s latest MacBook Pro and iMac lineup. “This deep integration is something only Apple can deliver, and we never stop innovating.”At a time companies such as Microsoft, Google and Meta have openly discussed their plans for an AI future, Apple has been less forthcoming. Apple said it shipped about 26 million Macs in 2022, making up 9.1% of the overall market (up from 7.8% the year prior). At the same time, the overall PC market shipped about 292 million computers the same year, down 15% from the year before.

Persons: Tim Cook –, –, they’re, ” Cook, Apple, ”, Dipanjan Chatterjee, Forrester, “, Tim Cook, Chatterjee, David McQueen, ” McQueen, Kieren Jessop Organizations: CNN, Apple, Max, Microsoft, Google, Meta, Lenovo, Dell, HP, IDC Research, Apple Music, ABI Research, Intel, Qualcomm, AMD, NVIDIA, MacBook Locations: Cupertino , California, China

☆ The US economy is surging – but problems elsewhere could still torpedo profits for big companies like Apple and Tesla
▼ + stars: | 2023-11-01 | by ( Huileng Tan | George Glover | ) www.businessinsider.com time to read: +6 min

The US economy is surging, with growth coming in at a hotter-than-expected 4.9% for the third quarter. But problems elsewhere could still be bad news for big US companies, including Apple and Tesla. China's slowing economy and the war between Israel and Hamas are both potential headwinds, according to analysts. AdvertisementAdvertisementThe China challengeThat's bad news for mega-cap US firms such as Apple and Tesla, which count the Asian nation as a major market. On balance, risks to global growth continue to be skewed to the downside," the International Monetary Fund said in its Global Financial Stability report published last month.

Persons: —, Ukraine — that's, headwinds, Goldman Sachs, GfK, Michael Field, it's, Tom Donilon, Susan Li, Li Organizations: Apple, Service, Nvidia, Intel, Nike, China —, Morningstar Research, stoke, of America, DuPont, Procter, Gamble, International Monetary Fund Locations: Israel, China, Ukraine, Beijing, BlackRock, Iran

A smartphone with a displayed Intel logo is placed on a computer motherboard in this illustration taken March 6, 2023. Executives at both the companies talked up the stabilizing PC market on earnings calls this week and said they expected the integration of artificial intelligence to boost growth. "The arrival of the AI PC represents an inflection point in the PC industry," said Intel CEO Pat Gelsinger. AMD boss Lisa Su said she "expected some growth going into 2024 as we think about sort of the AI PC cycle and some of the (Microsoft) Windows refresh cycles". Still, some investors see the lack of AI apps as a potential hurdle for their adoption.

Persons: Dado Ruvic, Pat Gelsinger, Lisa Su, Justin Sumner, Canalys, Dave Egan, Arsheeya Bajwa, Akash Sriram, Chavi Mehta, Krishna Chandra Organizations: REUTERS, Intel, Devices, AMD, Microsoft, Voya Investment Management, Graphics, Columbia, Thomson Locations: Bengaluru

☆ Britain to invest 300 million pounds in AI supercomputing
▼ + stars: | 2023-11-01 | by ( ) www.reuters.com time to read: +2 min

British Prime Minister Rishi Sunak delivers a speech on AI at Royal Society, Carlton House Terrace on October 26, 2023 in London, England. Funding for the "AI Research Resource" will be increased to 300 million pounds ($363.57 million) from a previously announced 100 million pounds, the government said at an AI safety summit aimed at charting a safe way forward for the rapidly evolving technology. "Frontier AI models are becoming exponentially more powerful," British Prime Minister Rishi Sunak said on social media platform X. "This investment will make sure Britain’s scientific talent have the tools they need to make the most advanced models of AI safe." The machines, which will be running from summer next year, will be used to analyse advanced AI models to test safety features, as well as to drive breakthroughs in drug discovery and clean energy, the government said.

Persons: Rishi Sunak, Peter Nicholls, Bristol's, Kylie MacLellan, Kirsten Donovan Organizations: British, Royal Society, Carlton, Terrace, REUTERS, Nvidia, Hewlett Packard Enterprise, Dell, SME, Thomson Locations: London, England, Britain, Cambridge, Bristol

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