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News
South Korean shares hit one-week closing high on AI frenzy, cheaper oil
5+ hour, 26+ min ago (397+ words) South Korean shares posted a one-week closing high on Wednesday as heavyweight chipmakers rallied on robust U.S. earnings and evidence of massive AI capital spending, while easing oil prices alleviated inflation worries. The benchmark KOSPI index finished 3.8% higher at 6,598.26, its highest…...
Weakness in semiconductor shares weighs on Nasdaq
1+ week, 1+ day ago (230+ words) Wall Street stocks were mostly lower due to declining oil prices and a retreat in semiconductor shares, fueled by concerns over China's chip industry advancements. NEW YORK: Wall Street stocks were mostly lower Tuesday as markets digested another decline in…...
Nasdaq, S&P 500 edge lower as tech stocks drop
1+ week, 1+ day ago (518+ words) NEW YORK: Wall Street’s main indexes were mixed on Monday as investors remained wary of volatility in the Middle East despite a US-Iran de-escalation, while awaiting guidance from major technology companies in what could prove to be a “make-or-break” week....
Data Vault Pakistan’s Karachi facility: US giant studies AI Data Centre upgrade
1+ week, 1+ day ago (192+ words) KARACHI: A team from US server and data centre giant Super Micro Computer Inc (Supermicro) has visited Pakistan to carry out a feasibility study for deploying next-generation AI chips at Data Vault Pakistan’s Karachi facility. The study is understood to…...
DeepSeek tells prospective investors of funding pause, Bloomberg News reports
1+ week, 3+ day ago (169+ words) Chinese AI startup DeepSeek has told prospective investors in its second fundraising round that it is suspending the deal for now, Bloomberg News reported on Saturday, citing people familiar with the matter. DeepSeek verbally informed some of its potential backers…...
PM Shehbaz inaugurates Pakistan's 'largest' data centre AI Cloud Sky47 in Islamabad
1+ week, 4+ day ago (329+ words) Prime Minister Shehbaz Sharif inaugurated Pakistan's largest AI Cloud data center, Sky47, hailing it as a landmark achievement showcasing the nation's technological progress and commitment to digital transformation. Prime Minister Shehbaz Sharif inaugurated on Friday Pakistan’s “largest” data centre AI Cloud…...
Microsoft strikes 'multi-billion dollar' deal for Mistral's AI computing power
2+ week, 1+ day ago (321+ words) Microsoft and Mistral announced a multi-billion dollar deal for Microsoft to utilize Mistral's European GPU infrastructure, enhancing AI development and cloud services while making Mistral's models available to Microsoft clients. PARIS: Microsoft and Mistral said Tuesday they had signed a…...
US stocks rise to open heavy week of earnings
2+ week, 2+ day ago (193+ words) NEW YORK: Wall Street stocks advanced early Monday, opening a heavy week of earnings as markets monitored the latest fighting in the ongoing US-Iran conflict. This week’s earnings calendar includes reports from Google parent Alphabet, Tesla and General Motors. Companies…...
China’s MiniMax seeks to raise total USD2.05 bn via share sale, bond issue
3+ week, 3+ day ago (109+ words) Business Recorder BENGALURU: China’s MiniMax Group said on Friday it is seeking to raise HKUSD16.04 billion (USD2.05 billion) in fresh capital via a share sale and a bond issue to fund growth in its AI business. The fundraising comes as Chinese tech…...
US stocks rise after holiday weekend, boosted by tech
4+ week, 2+ day ago (268+ words) Wall Street indexes, led by tech stocks, saw gains early Monday after the holiday, driven by investors seeking lower prices and stable oil and interest rates, broadening the market rally. NEW YORK: Wall Street’s major indexes were mostly higher early…...