Day: October 31, 2024
Chinese smartphone company Honor gets new investors as it gears up for IPO
Chinese smartphone company Honor has released devices that fold up to be nearly as thin as an iPhone. Nurphoto | Nurphoto | Getty Images BEIJING — Chinese smartphone company Honor on Thursday announced backing from new investors as the Huawei spinoff prepares for an initial public offering. The new backers are: China Telecom — one […]
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Microsoft CFO says OpenAI investment will cut into profit this quarter
Microsoft CEO Satya Nadella, right, speaks as OpenAI CEO Sam Altman looks on during the OpenAI DevDay event in San Francisco on Nov. 6, 2023. Justin Sullivan | Getty Images Microsoft‘s massive investment in OpenAI is weighing on earnings. Following Microsoft’s quarterly earnings report on Wednesday, CFO Amy Hood said she expects the company to […]
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Samsung Electronics’ chip profit shrinks 40% from the previous quarter
Customers shop at a Samsung mobile store inside a shopping mall in New Delhi. Reuters | Anindito Mukherjee Samsung Electronics on Thursday reported third-quarter sales and operating profit slightly above its own expectations, but its chip business posted a sharply lower profit from the previous quarter. The semiconductor unit reported third-quarter operating profit of 3.86 […]
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Asia markets mostly slip ahead of Bank of Japan decision, China factory activity figures
Kazuo Ueda, governor of the Bank of Japan (BOJ), speaks during a news conference at the central bank’s headquarters in Tokyo, Japan Bloomberg | Bloomberg | Getty Images Asia-Pacific markets slipped Thursday as investors look to the Bank of Japan’s rate decision, as well as key business activity figures from China. Economists polled by Reuters […]
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Even Mark Zuckerberg seems surprised by Meta’s pace of spending on AI
Mark Zuckerberg, CEO of Meta Platforms Inc., arrives for the Meta Connect event in Menlo Park, California, on Sept. 25, 2024. David Paul Morris | Bloomberg | Getty Images Meta has been so quick to build out its massive data center and computing infrastructure for artificial intelligence projects that CEO Mark Zuckerberg is even a […]
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