Business and Economy

Business and Economy Latest News

AI's $400 bn problem: Are chips getting old too fast?
AI's $400 bn problem: Are chips getting old too fast?
by  AFP

In pursuit of the AI dream, the tech industry this year has plunked down about $400 billion on specialized chips and data centers, but questions are mounting about the wisdom of such unprecedented levels of investment. Building data centers requires raising significant capital, Luria points out.

Oracle shares dive as revenue misses forecasts
Oracle shares dive as revenue misses forecasts
by  AFP

Shares in business computing giant Oracle fell more than 10 percent on Wednesday on word its revenue missed heady expectations, dampening artificial intelligence euphoria in the market. Oracle's cloud and business computing unit accounted for $8 billion of that revenue, an increase of 34 percent from the same quarter in 2024, according to the earnings report.

Intel sees record EU fine reduced further
Intel sees record EU fine reduced further
by  AFP

The EU General Court dealt a blow to the European Commission on Wednesday in reducing what was initially a record fine against US chipmaker Intel to 237 million euros ($276 million) -- a quarter of the original sum. In the new ruling published Wednesday, the court said it had "substantially upheld the 2023 decision", but reduced the fine to 237 million euros.

Energy

Money

Industry

Technology

Economy