The FinTech Hub
Source: Live Mint (Bloomberg) — Marvell Technology Inc. suffered the worst stock drop in more than two decades after its revenue forecast that fell short of the highest estimates, disappointing investors who were looking for a bigger payoff from the AI boom. Sales will be about $1.88 billion in the fiscal first quarter, which runs…
Source: Live Mint Shares of Intel Corp. soared as much as 8 per cent on Tuesday after a chip-making deal with Amazon’s cloud business was announced. At 1:08 pm EDT, Intel shares were at $21.62, up $0.70 or 3.37 per cent. On Monday, Intel shares had gained 6.4 per cent. The deal provides some respite…
Source: Live Mint Mr Pichai is not alone. New Street Research, a firm of analysts, estimates that Alphabet, Amazon, Meta and Microsoft will together splurge $104bn on building AI data centres this year. Add in spending by smaller tech firms and other industries and the total AI data-centre binge between 2023 and 2027 could reach…
