CEOs of OpenAI and Intel cite artificial intelligence's voracious appetite for processing power
Two tech CEOs scrambling to produce more of the sophisticated chips needed for artificial intelligence have met for a brainstorming session while the marketโs early leader reported another quarter of eye-popping growth.
Apple is close to becoming the first public company valued at $3 trillion
Apple is near to becoming the first publicly traded company to close a trading day with a $3 trillion market value, marking another milestone for a technology juggernaut that has reshaped society with a line-up of products that churn out eye-popping profits.
Nvidia stuns markets and signals how artificial intelligence will reshape technology sector
Shares of Nvidia, already one of the worldโs most valuable companies, are skyrocketing after the chipmaker forecast a huge jump in revenue, signaling how vastly the broadening use of artificial intelligence could reshape the tech sector.
As world goes online in pandemic, another mammoth chip deal
AMD and Xilinx is a huge tie-up in a season of massive buyouts for the semiconductor industry. Xilinx stockholders will receive 1.7234 shares of AMD stock for each Xilinx share they hold, or approximately $143 per share of Xilinx stock. AMD stockholders will own about 74% of the combined company, with Xilinx stockholders owning approximately 26%. AMD CEO Dr. Lisa Su will lead the combined company as CEO. The deal is expected to close by the end of next year, but still needs approval from regulators and shareholders of both companies.
Nvidia says it will build UK's most powerful supercomputer
LONDON โ Graphics chip maker Nvidia said Monday it plans to build Britain's fastest supercomputer that healthcare researchers can use to work on medical problems including COVID-19. Nvidia, based in Santa Clara, California, said it will spend 40 million pounds ($52 million) on the supercomputer, dubbed Cambridge-1, which will consist of 80 Nvidia systems and is expected to be online by the end of the year. Nvidia CEO Jensen Huang said Cambridge-1 will be available to healthcare researchers using artificial intelligence to working on urgent medical challenges. โTackling the worldโs most pressing challenges in healthcare requires massively powerful computing resources to harness the capabilities of AI,โ Huang said. Cambridge-1 would be ranked the worldโs 29th most powerful supercomputer and the most powerful in the U.K., the company said.
Asian markets mixed after Wall Street rises on dealmaking
People wearing face masks walk past a bank's electronic board showing the Hong Kong share index in Hong Kong, Tuesday, Sept. 15, 2020. Asian stocks were mixed Tuesday after Wall Street rose on a flurry of corporate deals and China's economic activity improved. (AP Photo/Vincent Yu)Asian stock markets were mostly higher Tuesday after Wall Street rose on a flurry of corporate deals and China's economic activity improved. The Nikkei 225 in Tokyo lost 0.4% to 23,464.99 while the Hang Seng in Hong Kong added 0.5% to 24,750.45. On Wall Street, tech stocks gained after Nvidia agreed to buy Softbank's stake in chipmaker Arm for $40 billion.
Nvidia to buy UK chip giant Arm Holdings for $40 billion
LONDON โ U.S. graphics chip maker Nvidia said it plans to buy U.K.-based Arm Holdings in a deal worth up to $40 billion, in a move that would create a global powerhouse in the industry. The deal, which was announced late Sunday by Nvidia and Armโs parent company, Japanese technology giant SoftBank, raises concerns about exposing Arm, one of Europe's most important tech companies. Under the terms of the deal, Santa Clara, California-based Nvidia will pay SoftBank $21.5 billion in stock and $12 billion in cash. SoftBank could earn a further $5 billion if Arm hits performance targets while Arm employees will get $1.5 billion worth of Nvidia shares. However, Hermann Hauser, who helped set up Arm, called the deal an โabsolute disaster for Cambridge, the U.K. and Europe."