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Arm is hoping for a valuation of up to $70 billion in the IPO, which will launch on the Nasdaq next month. Arm and its owner SoftBank Group (9984.T) have set aside 10% of the shares to be sold in the IPO for its clients, the sources said. Its close relationship with Arm has helped it design chips that curbed its reliance on Intel as a supplier. Many technology companies that seek to make their own chips using Arm's designs turn to TSMC for its low-cost manufacturing. None of these companies' investments in Arm's IPO are certain.

Persons: Dado Ruvic, Jack Gold, SoftBank, Apple spokespeople, Jay Lee, Masayoshi Son, Son, TSMC, Dylan Patel, Milana Vinn, Stephen Nellis, Max Cherney, Greg Roumeliotis, Matthew Lewis Organizations: REUTERS, FRANCISCO, Arm Holdings, Apple, Intel, Nvidia, Microsoft, Samsung Electronics, Reuters, Nasdaq, Gold Associates, SoftBank, Devices Inc, APPLE, SAMSUNG, Samsung, MICROSOFT, Devices, Vision Fund, Thomson Locations: Switzerland, Japan, New York, San Francisco

☆ VMware, Nvidia target businesses that want their own AI
▼ + stars: | 2023-08-22 | by ( Stephen Nellis | ) www.reuters.com time to read: +2 min

3D printed clouds and figurines are seen in front of the VMware cloud service logo in this illustration taken February 8, 2022. VMware, which is close to being acquired by chip firm Broadcom Inc (AVGO.O) in a $69 billion deal, makes software that corporations use to run their privately owned data centers. On Tuesday, the company released a new set of tools help designed to manage Nvidia chips, which dominate the market for AI systems that can read and write text in human-like ways. But some VMware customers want to do that work in their own data centers when the data is sensitive. The company declined to say how it will be priced, other than saying that the cost will be based on how many Nvidia chips the customer uses the software to manage.

Persons: Dado Ruvic, Raghu Raghuram, Raghuram, Stephen Nellis, Jonathan Oatis Organizations: VMware, REUTERS, VMware Inc, Nvidia Corp, Broadcom Inc, Nvidia, Microsoft Corp, Thomson Locations: San Francisco

Arm's stock market launch is expected to bring back to life a lackluster IPO market, which has over the last year seen several high-profile startups postpone their listing plans due to market volatility. Arm said that more than 50% of its royalty revenue for the most recent fiscal year came from smartphones and consumer electronics. The company, whose chip technology powers most smartphones including iPhones, did not reveal the number of shares it is planning to sell and the valuation it will seek. Arm makes money from upfront licensing fees for technology and then a royalty paid on each chip sold by Arm's customers. Arm's chip designs dominate the smartphone industry, but they are also used in laptops made by Apple (AAPL.O) and some Windows machines.

Persons: Dado Ruvic, SoftBank, Arm, Goldman Sachs, JPMorgan Chase, Manya Saini, Jaiveer, Stephen Nellis, Max Cherney, Echo Wang, Anirban Sen, Stephen Coates Organizations: REUTERS, Arm Holdings, Research, Reuters, Vision Fund, SECOND, Acorn Computers, Apple Inc, Apple Computer, VLSI Technology, London Stock Exchange, Nasdaq, Nvidia Corp, Apple, Nvidia, U.S, Barclays Plc, JPMorgan, Mizuho Financial Group, underwriters, Thomson Locations: U.S, Saudi, China, Arm China, Bengaluru, San Francisco, New York

☆ The hype and hope around superconductors
▼ + stars: | 2023-08-12 | by ( ) www.reuters.com time to read: 1 min

A claim by scientists in South Korea has reignited a global race to prove the existence of a practical superconductor. In a special weekend episode of Reuters World News, host Kim Vinnell and tech journalist Stephen Nellis go beyond the viral headlines to find out what's really going on. Visit the for information on our privacy and data protection practices. You may also visit to opt-out of targeted advertising. Our Standards: The Thomson Reuters Trust Principles.

Persons: Kim Vinnell, Stephen Nellis Organizations: Apple, Google, Reuters, News, Thomson Locations: South Korea

The order is aimed at preventing American capital and expertise from helping China develop technologies that could support its military modernization and undermine U.S. national security. China said on Thursday it is "gravely concerned" about the order and that it reserves the right to take measures. The White House said Biden consulted allies on the plan and incorporated feedback from Group of Seven nations. "Today the United States is taking a strategic first step to ensure American investment does not go to fund Chinese military advancement." Last year, total U.S.-based venture-capital investment in China plummeted to $9.7 billion from $32.9 billion in 2021, according to PitchBook data.

Persons: Joe Biden, Elizabeth Frantz, Biden's, Biden, Chuck Schumer, Marco Rubio, Emily Benson, David Shepardson, Andrea Shalal, Stephen Nellis, Max Cherney, Krystal Hu, Karen Freifeld, Idrees Ali, Liz Lee, Lincoln, Jonathan Oatis, Cynthia Osterman, Michael Perry Organizations: White, REUTERS, Wednesday, U.S, Treasury, Biden, Chinese Commerce Ministry, Seven, Democratic, Republicans, REPUBLICAN, The Semiconductor Industry Association, Center for Strategic, International Studies, Thomson Locations: Washington , U.S, WASHINGTON, China, U.S, Japan, Netherlands, United States, Washington, Beijing

The order is aimed at preventing American capital and expertise from helping China develop technologies that could support its military modernization and undermine U.S. national security. The White House said Biden consulted allies on the plan and incorporated feedback from Group of Seven nations. "Today the United States is taking a strategic first step to ensure American investment does not go to fund Chinese military advancement." Last year, total U.S.-based venture-capital investment in China plummeted to $9.7 billion from $32.9 billion in 2021, according to PitchBook data. The restrictions will hurt both Chinese and American businesses, interfere with normal cooperation and reduce investor confidence in the U.S., he said.

Persons: Joe Biden, Elizabeth Frantz, Biden, Chuck Schumer, Marco Rubio, Emily Benson, David Shepardson, Andrea Shalal, Stephen Nellis, Max Cherney, Krystal Hu, Karen Freifeld, Idrees Ali, Lincoln, Jonathan Oatis, Cynthia Osterman Organizations: White, REUTERS, Wednesday, U.S, Treasury, Biden, Seven, Democratic, Republicans, REPUBLICAN, The Semiconductor Industry Association, Center for Strategic, International Studies, Thomson Locations: Washington , U.S, WASHINGTON, China, U.S, Japan, Netherlands, United States, Washington

[1/2] The logo of Amazon is seen at the company logistics center in Lauwin-Planque, northern France, November 15, 2022. REUTERS/Pascal Rossignol/File PhotoNEW YORK, Aug 8 (Reuters) - Amazon.com (AMZN.O) is in talks about joining other technology companies as a cornerstone investor in SoftBank Group Corp's (9984.T) Arm Ltd ahead of its initial public offering (IPO), people familiar with the matter said on Tuesday. Amazon's potential involvement in the IPO, which has not previously been reported, underscores Arm's significance in cloud computing. Amazon Web Services, the internet giant's cloud business, makes its own processing chip called Graviton, using Arm's design. Arm has been in talks with about 10 technology companies, including Intel (INTC.O), Alphabet (GOOGL.O) and Nvidia (NVDA.O), about an investment ahead of its IPO, Reuters has reported.

Persons: Pascal, SoftBank, Echo Wang, Anirban Sen, Jeffrey Dastin, Stephen Nellis, Matthew Lewis Organizations: REUTERS, Web Services, Nasdaq, Reuters, Intel, Nvidia, San, Thomson Locations: Lauwin, France, New York, San Francisco

☆ Apple sees sales slump continuing, shares drop 2% despite beating sales expectations
▼ + stars: | 2023-08-03 | by ( Stephen Nellis | ) www.reuters.com time to read: +5 min

Executives said iPhone sales would improve in the fourth quarter, but did not say how much. Weaker iPhone sales were balanced by strong sales in the services segment that contains Apple TV+ and by sales in China that grew 8% year over year. That sales forecast is below analyst expectations of roughly flat fiscal fourth-quarter sales of $90.19 billion, according to Refinitiv data. Apple said iPhone sales were $39.67 billion, below analyst expectations of $39.91 billion, according to Refinitiv data. Mac and iPad sales were $6.84 billion and $5.79 billion, respectively, compared with analyst estimates of $6.62 billion and $6.41 billion, according to Refinitiv data.

Persons: Joshua Roberts, Luca Maestri, Daniel Newman, Maestri, Tim Cook, We've, We're, Cook, Apple, Jeremy Goldman, Stephen Nellis, Yuvraj Malik, Peter Henderson, Matthew Lewis Organizations: Apple Inc, REUTERS, Wall, Apple, Android, Futurum, Reuters, Research, Major League Soccer, Apple Watch, Thomson Locations: Washington , U.S, China, CHINA, San Francisco, Bengaluru

☆ Apple profit tops Wall Street targets, strong services counter weaker iPhone
▼ + stars: | 2023-08-03 | by ( Stephen Nellis | ) www.reuters.com time to read: +4 min

Logo of an Apple store is seen as Apple Inc. reports fourth quarter earnings in Washington, U.S., January 27, 2022. IPhone sales slightly missed analyst estimates, but were made up for by strong sales in the services segment that contains Apple TV+ and by sales in China that grew 8% year over year. That helped Apple push sales in its greater China region to$15.76 billion, from $14.60 billion in last year's same quarter. Apple said iPhone sales were $39.67 billion, below analyst expectations of $39.91 billion, according to Refinitiv data. Mac and iPad sales were $6.84 billion and $5.79 billion, respectively, compared with analyst estimates of $6.62 billion and $6.41 billion, according to Refinitiv data.

Persons: Joshua Roberts, Tim Cook, We've, We're, Cook, Apple, Stephen Nellis, Yuvraj Malik, Peter Henderson, Matthew Lewis Organizations: Apple Inc, REUTERS, Apple, Reuters, Android, Big Tech, Microsoft, Google, Research, Major League Soccer, Apple Watch, Thomson Locations: Washington , U.S, China, San Francisco, Bengaluru

☆ Superconductor claims spark investor frenzy, but scientists are skeptical
▼ + stars: | 2023-08-03 | by ( Stephen Nellis | ) www.reuters.com time to read: +7 min

The South Korean researchers last week said they found a superconductor that works at room temperature, which has long been considered a holy grail for scientists in the field. The South Korean researchers published two papers - one initial paper with three authors and a second, more detailed paper with six authors that included only two of the authors from the first paper. The gold standard for proof of discovery is other labs reliably replicating the South Korean researchers' findings. But another team, from Qufu Normal University, said they did not observe zero resistance, one of required characteristics of a superconductor. On Thursday, South Korean experts said they would set up a committee to verify the claims.

Persons: Read, Kelvin, Eric Toone, Bill Gates, Mike Norman, Norman, Sinéad Griffin, Lawrence, Griffin, apatite, Michael Fuhrer, Fuhrer, Argonne's Norman, Stephen Nellis, Joyce Lee, Brenda Goh, Krystal Hu, Kenneth Li, Deepa Babington Organizations: CEA, Nuclear Research, South, Reuters, South Korean, Huazhong University of Science, Technology, Qufu Normal University, Southeast University, Bill Gates ’, Energy Ventures, National Laboratory, Lawrence Berkeley National Laboratory, . Department of Energy, Monash University, Thomson Locations: ., China, South Korea, Nanjing, Melbourne, Australia, San Francisco, Seoul, Shanghai, New York

☆ AI chip firm Tenstorrent raises $100 mln from Hyundai, Samsung
▼ + stars: | 2023-08-02 | by ( Stephen Nellis | ) www.reuters.com time to read: +2 min

Courtesy of Tenstorrent /Handout via REUTERSAug 2 (Reuters) - Tenstorrent, a Canadian startup headed by chip industry veteran Jim Keller that is developing artificial intelligence chips, said on Wednesday it has raised $100 million from Hyundai Motor Group (005380.KS) and a Samsung (005930.KS) investment fund, among others. Keller, who has previously developed chips for Apple (AAPL.O), Tesla (TSLA.O) and Intel (INTC.O), took over as the startup's CEO earlier this year. Tenstorrent makes its own AI chips, but also sells its intellectual property and other technology to customers looking to make their own AI chips. Hyundai established a semiconductor development group last year and said that it plans to use Tenstorrent technology in "future Hyundai, Kia and Genesis" vehicles. “With this investment, the Group expects to develop optimized but differentiated semiconductor technology that will aid future mobilities and strengthen internal capabilities in AI technology development," Heung-soo Kim, executive vice president and head of the global strategy office at Hyundai Motor Group, said in a statement.

Persons: Jim Keller, Heung Soo Kim, Keller, Tenstorrent, Kim, Stephen Nellis, Marguerita Choy Organizations: Global, Hyundai, REUTERS, Hyundai Motor Group, Samsung, Nvidia, Apple, Intel, Kia, Catalyst Fund, Fidelity Ventures, Eclipse Ventures, Epiq, Maverick Capital, Tesla, LG, Thomson Locations: Santa Clara , California, U.S, Handout, Canadian

☆ Qualcomm forecasts dull fourth-quarter revenue on weak smartphone demand
▼ + stars: | 2023-08-02 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Dado Ruvic/IllustrationAug 2 (Reuters) - Qualcomm (QCOM.O) forecast fourth-quarter revenue below market expectations on Wednesday as consumer spending on gadgets like smartphones remained stubbornly weak amid slowing global economic growth. The company expects fourth-quarter revenue of $8.1 billion to $8.9 billion. Qualcomm rival MediaTek last week warned that customers are "cautious" with their purchases due to tepid end-user demand. Revenue at Qualcomm's mainstay handset chip business fell 25% to $5.26 billion in the third quarter and adjusted revenue of $8.44 billion missed estimates of $8.50 billion. It forecast adjusted fourth-quarter earnings per share in the range of $1.80 and $2, compared to estimates of $1.91.

Persons: Dado Ruvic, Cristiano Amon, Chavi Mehta, Stephen Nellis, Arun Koyyur Organizations: Qualcomm, REUTERS, MediaTek, Revenue, Thomson Locations: China, Bengaluru, San Francisco

REUTERS/Dado Ruvic/IllustrationAug 2 (Reuters) - Qualcomm (QCOM.O) forecast fourth-quarter sales below market expectations on Wednesday and said it would likely cut jobs as consumer spending on gadgets like smartphones remained stubbornly weak amid slowing global economic growth. The company estimated fourth-quarter revenue of $8.1 billion to $8.9 billion, while analysts polled by Refinitiv expected $8.70 billion. Qualcomm forecast a fourth-quarter adjusted earnings range with a midpoint of $1.90, in line with analysts' consensus estimate of $1.91 per share according to Refinitiv data. It forecast adjusted fourth-quarter earnings per share of $1.80 and $2, compared to estimates of $1.91. The automotive sector was a bright spot as Qualcomm seeks to diversify beyond smartphone chips.

Persons: Dado Ruvic, Akash Palkhiwala, Palkhiwala, Refinitiv, Cristiano Amon, MediaTek, Apple, Bob Bruggeworth, NXP, Amon, Kinngai Chan, Chavi Mehta, Cherney, Stephen Nellis, Arun Koyyur, Richard Chang Organizations: Qualcomm, REUTERS, Huawei, Philadelphia, Semiconductor, SOX, Apple, Summit, U.S, Thomson Locations: San Diego , California, China, U.S, Bengaluru, San Francisco

☆ 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

☆ US lawmakers urge Biden administration to tighten AI chip export rules
▼ + stars: | 2023-07-28 | by ( Stephen Nellis | ) www.reuters.com time to read: +4 min

The October 2022 rules impose two performance caps on exporting AI chips to China - one on how fast the chips can talk to one another, and the second on the chips' processing speeds. After the rules took effect, Nvidia created special chips for China with lower interconnect speeds. Intel this month also said it has created an AI chip that can be sold in China. Nvidia at the time said that restricting sales of its AI chips to China "would result in a permanent loss of opportunities for the U.S. On Friday, Gallagher and Krishnamoorthi urged an even tighter approach than the one Reuters previously reported officials are considering.

Persons: Mike Gallagher, Biden, Raja Krishnamoorthi, Gina Raimondo, Gallagher, Krishnamoorthi, " Gallagher, Stephen Nellis, Chris Sanders, Leslie Adler Organizations: U.S, Rep, Chinese Communist Party, Capitol, FRANCISCO, Republican, Nvidia, Devices, Intel, Reuters, Qualcomm, Semiconductor Industry Association, Microsoft, Google, Thomson Locations: United States, Taiwan, Washington , U.S, China, U.S, Washington, San Francisco

☆ Chipmakers signal supply glut easing but demand recovery still slow
▼ + stars: | 2023-07-28 | by ( Joyce Lee | ) www.reuters.com time to read: +5 min

"Demand is recovering very gradually," Woohyun Kim, chief financial officer at SK Hynix, said on an earnings call this week. "The recent improvement in PC shipments has been mainly led by promotions and low-end models, meaning it provided limited impact on chip demand recovery," he said, adding that shipment forecasts for PCs and smartphones this year have been downgraded from earlier predictions. Chipmakers are also increasing production of the high-end chips used to support AI related chips. SK Hynix said demand for AI server memory had more than doubled in the second quarter compared to the first quarter. The company leads the market in high bandwidth memory (HBM) DRAM used in generative AI.

Persons: Florence Lo, Canalys, Woohyun Kim, ChatGPT, Pat Gelsinger, SK Hynix, Logan Purk, Edward Jones, Lam, Tim Archer, 1,278.7400, Joyce Lee, Akash Sriram, Akshita, Chavi Mehta, Tanya Jain, Max A, Cheney, Stephen Nellis, Miyoung Kim, Miral Organizations: REUTERS, Intel, Samsung, SK Hynix, SK, chipmaker Texas, Wall, Manufacturers, KLA Corp, Lam Research, Thomson Locations: SEOUL, China, HBM, Seoul, Bengaluru, Max, San Francisco

☆ U.S. lawmakers urge Biden administration to tighten AI chip export rules
▼ + stars: | 2023-07-28 | by ( Stephen Nellis | ) www.reuters.com time to read: +4 min

☆ Exclusive: Amazon has drawn thousands to try its AI service competing with Microsoft, Google
▼ + stars: | 2023-07-26 | by ( Jeffrey Dastin | Thomson Reuters | Jeffrey Dastin Is A Correspondent For Reuters Based In San Francisco | ) www.reuters.com time to read: +3 min

REUTERS/Gonzalo Fuentes/File PhotoJuly 26 (Reuters) - Amazon.com’s (AMZN.O) cloud division has drawn thousands of customers to try out its service vying with Microsoft (MSFT.O) and Google (GOOGL.O) in a key area of artificial intelligence, an executive told Reuters. "Our mission is to make every company an AI company," said Sivasubramanian, in an interview pegged to a summit the cloud provider hosted in New York. Amazon Bedrock is the company's answer to services announced by Google and Microsoft, cloud rivals that have developed or marketed AI garnering significant public attention. Microsoft has invested in OpenAI, the startup that created ChatGPT and the AI model known as GPT-4. The cloud provider announced Agents for Amazon Bedrock, which lets businesses create chatbots that execute tasks and give more personalized answers drawing from their proprietary data.

Persons: Gonzalo Fuentes, Swami Sivasubramanian, Sivasubramanian, Jeffrey Dastin, Stephen Nellis, Chizu Nomiyama, Daniel Wallis Organizations: Viva Technology, Porte de, REUTERS, Microsoft, Google, Reuters, Sony, Ryanair, Sun, Thomson Locations: Porte, Paris, France, New York, OpenAI, Silicon

July 25 (Reuters) - Artificial intelligence is expected to pay off big for tech giants including Microsoft (MSFT.O) and Alphabet (GOOGL.O) someday. Microsoft is bearing AI costs in two ways, analysts said: to power its own products such as its forthcoming $30-a-month Copilot AI assistant, and to serve companies wanting to use its Azure cloud computing services to create AI products. "They're buying a bunch of H100s," said Ben Bajarin, chief executive and principal analyst of Creative Strategies, referring to Nvidia's flagship chips for AI. Microsoft may be "aggressively buying Nvidia chips, given Microsoft does not have its own silicon as an alternative," said Atlantic Equities analyst James Cordwell. "The message on inflection point was the same," from Microsoft and Google, said Gene Munster, managing partner at Deepwater Asset Management, "but the difference was Microsoft investors wanted to see more."

Persons: Ben Bajarin, Ruth Porat, Scott Kessler, James Cordwell, Porat, Gene Munster, Stephen Nellis, Akash Sriram, Anna Tong, Max Cherney, Yuvraj Malik, Greg Bensinger, Sayantani Ghosh, Richard Chang Organizations: Microsoft, Nvidia Corp, Creative, Google, Deepwater Asset Management, Thomson Locations: Atlantic, San Francisco, Bengaluru, New York

Microsoft is weaving AI into its own products, such as the $30-a-month "Copilot" assistant for its Microsoft 365 service that can summarize a day's worth of emails into a quick update. Microsoft's results show heavy spending on AI services ahead of commensurate revenue growth. For the segment that includes Azure, Microsoft forecast a first-quarter revenue range with a midpoint of $23.45 billion. Microsoft's forecast for its Windows segment had a midpoint of $12.7 billion, below analysts' estimate of $13.14 billion. Microsoft has started integrating AI functionality across its products such as Azure, Microsoft 365, GitHub and several developer tools.

Persons: Amy Hood, Hood, Satya Nadella, Yuvraj Malik, Devika Syamnath, Richard Chang Organizations: Microsoft, Wall, Nvidia Corp, Revenue, Alpha, Thomson Locations: Bengaluru

☆ Intel, Ericsson to work together on custom 5G chip
▼ + stars: | 2023-07-25 | by ( Stephen Nellis | ) www.reuters.com time to read: +1 min

July 25 (Reuters) - Intel Corp (INTC.O) on Tuesday said that it will work with Swedish telecommunications gear maker Ericsson (ERICb.ST) to make a custom chip for Ericsson's 5G networking gear, using the most advanced manufacturing technology Intel has disclosed. Intel has lost its lead in manufacturing the smallest and most power-efficient semiconductors to rivals such as Taiwan Semiconductor Manufacturing Co (2330.TW). A key piece of Intel Chief Executive Pat Gelsinger's plan announced in 2021 to regain that lead and turn the company around has been to pack five generations of chip manufacturing advances into four years. Intel said that the new Ericsson chip will use Intel's "18A" manufacturing technology and is among the first chips from outside customers that Intel has will use the technology. Intel and Ericsson did not provide details on when the chip will hit the market, but Intel has previously said that its 18A manufacturing technology will be ready by 2025.

Persons: Pat Gelsinger's, Stephen Nellis, Nick Zieminski Organizations: Intel Corp, Ericsson, Intel, Taiwan Semiconductor Manufacturing, San, Thomson Locations: Swedish, San Francisco

☆ NXP forecast hints Apple might keep bucking China smartphone slump
▼ + stars: | 2023-07-25 | by ( Stephen Nellis | ) www.reuters.com time to read: +2 min

Netherlands-based NXP makes a near-field communications chip that goes into smartphones to help with mobile payments and other functions. Sievers did not discuss Apple Inc (AAPL.O) by name, but analysts believe the iPhone maker is a major customer. While the Android portion of those mobile chip orders is growing slightly, Sievers said there is no rebound in sight. "I would still say the (smartphone) build rates are below what they used to be in China. Sievers said most of the 23% increase forecast for mobile chip sales is attributable to a large customer that NXP cannot name.

Persons: Kurt Sievers, Sievers, NXP, Apple, Stephen Nellis Organizations: NXP, Apple Inc, Reuters, Research, Apple, Thomson Locations: Netherlands, China, San Francisco

July 24 (Reuters) - Cadence Design Systems Inc (CDNS.O) on Monday raised its full-year revenue forecast to slightly above Wall Street estimates, as a surge in artificial intelligence (AI) innovation fueled demand for custom semiconductor design. But the company's current quarter forecast had a midpoint slightly below analyst estimates, sending shares down 4.4% at $230.60 in after-hours trading. Cadence forecast full-year revenue between $4.05 billion and $4.09 billion, largely above analysts' average estimate of $4.06 billion, according to Refinitiv data. But the company gave a revenue forecast of $995.5 million in the current quarter, below Refinitiv estimates of $1.01 billion. Chief Executive Anirudh Devgan said one of the company's large customers recently used its AI software to improve chip power efficiency.

Persons: Anirudh Devgan, Devgan, Tanya Jain, Akash Sriram, Devika Syamnath, Chris Reese Organizations: Cadence Design Systems, Nvidia, Devices, Cadence, Revenue, Synopsys Inc, Thomson Locations: Bengaluru

[1/2] A view of Condor Galaxy supercomputing systems for artificial intelligence work made by Cerebras Systems, in Santa Clara, California, U.S., in this undated handout photo received on July 19, 2023. Abu Dhabi-based G42, a tech conglomerate with nine operating companies that include datacenter and cloud service businesses, says it plans to use the Cerebras systems to sell AI computing services to health care and energy companies. G42 has raised $800 million from U.S. tech investment firm Silver Lake, which has backing from Mudabala, the UAE's soverign wealth fund. "Cerebras has what they call a 'white glove' service that made it easy for us" to build AI systems on its machines, G42 Cloud CEO Talal AlKaissi told Reuters. G42 Cloud's AlKaissi declined to comment on the terms of the deal.

Persons: Rebecca Lewington, Cerebras, Andrew Feldman, Feldman, Talal AlKaissi, Stephen Nellis, Krystal Hu, Rashmi Organizations: Condor Galaxy supercomputing, Cerebras Systems, REUTERS, Systems, United Arab, Nvidia Corp, Nvidia, Condor Galaxy, Cerebras, UAE, Mudabala, Reuters, Thomson Locations: Santa Clara , California, U.S, United Arab Emirates, Abu Dhabi, Silver, San Francisco, New York

[1/2] A view of Condor Galaxy supercomputing systems for artificial intelligence work made by Cerebras Systems, in Santa Clara, California, U.S., in this undated handout photo received on July 19, 2023. Courtesy of Rebecca Lewington of Cerebras Systems/Handout via REUTERSJuly 20 (Reuters) - Cerebras Systems on Thursday said that it has signed an approximately $100 million deal to supply the first of three artificial intelligence (AI) supercomputers to the United Arab Emirates-based technology group G42. "Cerebras has what they call a 'white glove' service that made it easy for us" to build AI systems on its machines, G42 Cloud CEO Talal AlKaissi told Reuters. The contract to complete the first of the three systems announced on Thursday is worth about $100 million, Cerebras CEO Andrew Feldman said. "What we're saying is that the $100 million contract takes us through Condor Galaxy 1... That's the unit, the building block."

Persons: Rebecca Lewington, Cerebras, Talal AlKaissi, Andrew Feldman, Stephen Nellis, Krystal Hu, Rashmi Organizations: Condor Galaxy supercomputing, Cerebras Systems, REUTERS, Systems, United Arab, Nvidia Corp, Nvidia, Condor Galaxy, Mudabala, Reuters, Thomson Locations: Santa Clara , California, U.S, United Arab Emirates, Abu Dhabi, Silver, San Francisco, New York

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