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TSMC Set to Report 30% Surge in Q2 Profit, Driven by AI Chip Demand

As the worlds largest contract chipmaker, Taiwan Semiconductor Manufacturing Co. TSMC is about to report secondquarter profit up 30% to around T$236.1

As the worlds largest contract chipmaker, Taiwan Semiconductor Manufacturing Co. TSMC is about to report secondquarter profit up 30% to around T$236.1 billion $7.25 billion. A strong market for sophisticated processors, particularly those employed in artificial intelligence applications, is whats behind this increase. With over a trillion dollars in market value for its American Depositary Receipts, TSMCs impressive achievement is indicative of a larger trend towards AI technology. Amidst competition from Intel and Samsung, the companys continuous attempts to expand, including large investments in new facilities such as those in Arizona, demonstrate its dedication to satisfying the need for semiconductors worldwide. The capital expenditure and prognosis for the rest of the year will also be revealed on TSMCs next earnings call. Read More..

B2B Tech News | 1 years ago        

Greta Minerals Expands Presence with Strategic Lithium and REE Asset Acquisition in Western Australia

Significant lithium and rare earth element REE exploration properties in Western Australia have been successfully acquired by Greta Minerals PTE Ltd,

Significant lithium and rare earth element REE exploration properties in Western Australia have been successfully acquired by Greta Minerals PTE Ltd, a division of the Greta Group, headquartered in Singapore. With this acquisition, Greta Groups operating footprint and portfolio are increased to include over 700 km2 of strategically positioned exploration tenements on the extremely promising Ida Fault. The companys skills are further enhanced by its strategic cooperation with Mr. Tan, who is wellknown from Aussie Gold Hunters. Situated in Western Australias wellknown "Lithium Corridor," these resources are wellpositioned to investigate possible extensive mineral resources by taking use of the geological benefits of the hydrothermal fluid channels on the Ida Fault. With an emphasis on sustainability and innovation in the exploitation of natural resources, Greta Minerals seeks to advance exploration in a responsible manner. Read More..

B2B Tech News | 1 years ago        

Hedge Funds Target South Koreas Chipmakers SK Hynix, Samsung Amid AI Boom

A growing number of hedge funds are concentrating on South Koreas chipmakers, especially Samsung Electronics and SK Hynix, attracted by the predicted

A growing number of hedge funds are concentrating on South Koreas chipmakers, especially Samsung Electronics and SK Hynix, attracted by the predicted demand for premium memory chips from artificial intelligence. Despite playing a crucial role in the AI industry, funds such as Man Group, FengHe Fund Management, CloudAlpha Capital Management, and East Eagle Asset Management believe these companies are undervalued compared to rivals like Taiwans TSMC. Investor confidence is further reinforced by government assistance programmes, such as the $19 billion semiconductor industry support package in South Korea and steps to increase shareholder returns. With confidence in the IT sectors growth potential despite dangers like currency fluctuations and market rules, South Korean stocks have attracted considerable inflows, propelling the KOSPI index to its highest month in seven months. Read More..

B2B Tech News | 1 years ago        

Alphabet Halts Talks to Acquire HubSpot Amid Regulatory Scrutiny

A person familiar with the situation claims that Googles parent company, Alphabet, has chosen against pursuing a purchase of internet marketing softwa

A person familiar with the situation claims that Googles parent company, Alphabet, has chosen against pursuing a purchase of internet marketing software business HubSpot. Before abruptly ending, the Alphabet and HubSpot talks stayed within the preliminary stages and never reached the point of due diligence. This decision was made despite prior rumours from April that Alphabet was thinking about making a $25 billion takeover offer for HubSpot. The acquisition would have been Alphabets most significant transaction if it had gone through. However, antitrust authorities could have scrutinised the deal because of growing worries about the concentration of the tech sector. In the face of economic uncertainty brought on by rising borrowing rates, HubSpot—known for its inbound marketing software designed specifically for small and mediumsized businesses—has been negotiating problems connected to client demand. Read More..

B2B Tech News | 1 years ago        

China Reforms Economic Metrics, Shifts Focus to Financial Sector Profitability

China recently changed its methodology for estimating the financial sectors economic contribution, moving from emphasising the growth of loans and dep

China recently changed its methodology for estimating the financial sectors economic contribution, moving from emphasising the growth of loans and deposits to considering profitability factors like net interest income and fees. With effect from early 2024, this modification attempts to reduce distortions brought about by inflated balance sheets intended to fulfil GDP objectives and to give a more realistic picture of the sectors valueadded. The prior approach frequently exaggerated the financial sectors economic impact since it primarily focused on increasing assets and liabilities. The modification is a part of more significant initiatives to improve the effectiveness and openness of loan distribution, indicating a change in economic measures towards a preference for quality over quantity. This action may result in the financial sector contributing less in the face of persistent difficulties like an earnings crisis. Read More..

B2B Tech News | 1 years ago        

BNP Paribas Partners with Mistral AI to Deploy Large Language Models

A broad collaboration between BNP Paribas BNPP.PA and Mistral AI covering all present and upcoming commercial models has been announced. The French ba

A broad collaboration between BNP Paribas BNPP.PA and Mistral AI covering all present and upcoming commercial models has been announced. The French bank will use the massive language models of Mistral AI in various commercial applications, including IT, sales, and customer service. Established in 2023 by scientists previously employed at Google DeepMind and Meta AI, Mistral AI has become a significant participant in the European generative AI scene, having raised over 1 billion euros in funding throughout many fundraising rounds. As more financial institutions adopt cuttingedge AI technology, this partnership demonstrates BNP Paribas dedication to using generative AI to improve customer services in sales, trading, research, and other areas. Read More..

B2B Tech News | 1 years ago        

India, Russia Agree to Expand Nuclear Cooperation with Plans for Six Additional Power Units

During Russian President Vladimir Putins visit to Moscow, India and Russia, they strengthened their bilateral ties in several vital areas. Agreements

During Russian President Vladimir Putins visit to Moscow, India and Russia, they strengthened their bilateral ties in several vital areas. Agreements to increase nuclear cooperation, including ideas for six more nuclear power plants in India, were reached during talks between President Vladimir Putin and Prime Minister Narendra Modi. The cooperation also looked into supporting infrastructure investments in shipbuilding and improving the Northern Sea Route for energy transit. Enso Group of India and the Russian Direct Investment Fund RDIF decided to invest significantly in shipbuilding infrastructure. Along with attempts to resolve payment difficulties brought on by sanctions and rupee convertibility concerns, partnerships in education and medicines were also strengthened. With the current state of world politics, this visit demonstrates both countries dedication to fortifying their economic relations. Read More..

B2B Tech News | 1 years ago        

Goldman Sachs Asset Management Forecasts Slower U.S. Economic Growth for Second Half of 2024

Executives at Goldman Sachs Asset Management GSAM predict a slower pace of U.S. economic growth in the second half of 2024, around 2%. They attribute

Executives at Goldman Sachs Asset Management GSAM predict a slower pace of U.S. economic growth in the second half of 2024, around 2%. They attribute this to lower growth in earnings and more political unpredictability. Despite these obstacles, GSAM is upbeat about investing prospects and singles out various AI stocks with an exceptionally bright midyear outlook. The need to diversify beyond the early victors in the AI space, like Nvidia, which has dominated market returns, is emphasised. In the context of anticipated interest rate reductions beginning in September, GSAM sees possibilities in the fixedincome markets, particularly in structured credit and highyield bonds. They also view Indian and Japanese equities favourably, citing their alignment with trends like AI adoption and climate change initiatives, along with positive reforms in Japanese corporate governance. Read More..

B2B Tech News | 1 years ago        



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Refresh Your Facts

1.  Global online sales are predicted to reach 22% of all retail sales in 2023.
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2.  Global tablet shipments are expected to hit 142 million by 2025, reports Statista.
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3.  Artificial Intelligence is expected to contribute $15.7 trillion to the economy by the year 2030.
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4.  Since the launch of the popular mobile game, Candy Crush, in 2012, players have spent a total of 73 billion hours (equivalent to 8.3 million years) playing this game.
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5.  Approximately 8 billion gadgets connect on the internet every day.
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