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Alphabet to raise $80 billion in equity capital for AI spending
Reuters76d agoneutral
Alphabet to raise $80 billion in equity capital for AI spending

Alphabet said on Monday it aims ‌to raise $80 billion ‌in equity offerings, which will include ​an investment deal with Berkshire Hathaway. The Google parent has agreed to sell $10 billion ‌worth of ⁠shares to Warren Buffett's Berkshire Hathaway in a ⁠private placement, comprising $5 billion in Class A common ​stock at $351.81 ​per ​share and $5 billion ‌in Class C capital stock at for $348.20 per share. "The company is experiencing strong demand for its AI solutions ‌and services from ​enterprises and ​consumers, at ​levels that are ‌exceeding the company's ​available supply," ​Alphabet said.

HPE expects to achieve 2028 financial targets this year after record quarter on AI boom
Reuters76d agobullish
HPE expects to achieve 2028 financial targets this year after record quarter on AI boom

Hewlett Packard Enterprise posted record second-quarter results on Monday, prompting the company to accelerate its long-term financial goals by ‌two years, as expansion of AI data centers boosts demand for its servers ‌and networking products. HPE, which competes with Dell and Super Micro Computer, is benefiting as customers increasingly buy server and data center equipment to power AI applications such as ChatGPT amid a memory chip crunch. U.S. tech giants including Alphabet and Amazon plan to spend over $700 billion on ‌AI infrastructure this year, which would ⁠bolster demand for suppliers such as HPE.

McDonald's Wants to Feel More Upscale With Wings, Restaurant Remodels
Bloomberg76d agoneutral
McDonald's Wants to Feel More Upscale With Wings, Restaurant Remodels

(Bloomberg) -- McDonald’s Corp. is betting on everything from fancier chicken to new playgrounds as part of a campaign to make fast food feel less like fast food.Most Read from BloombergUS Says Deals With Iran for Safe Hormuz Transit Are ProhibitedBerkshire Hathaway to Buy Taylor Morrison for $6.8 BillionA Rare ‘Super’ El Niño Is Looking More Likely. Here’s What to ExpectRussia Finance Officials Tell Putin War Spending Is UnaffordableStocks Up as Trump Cites Rapid Pace in Iran Talks: Markets Wra

Exclusive-EU cloud rules to curb Big Tech's access to strategic tenders, draft document shows
Reuters76d agoneutral
Exclusive-EU cloud rules to curb Big Tech's access to strategic tenders, draft document shows

BRUSSELS/AMSTERDAM, June 1 (Reuters) - The European Union plans to propose strict criteria for cloud computing services in highly critical state tenders that could exclude Amazon, Microsoft and Google from such ‌projects, according to documents seen by Reuters. The proposal is part of the European Commission's Cloud and AI Development ‌Act, which EU tech chief Henna Virkkunen will unveil on Wednesday as part of a package aimed at reducing the bloc's dependence on U.

Exclusive-EU cloud rules to curb Amazon, Google access to strategic tenders, draft document shows
Reuters76d agoneutral
Exclusive-EU cloud rules to curb Amazon, Google access to strategic tenders, draft document shows

Europe plans to propose strict criteria for cloud computing services ‌in highly critical state tenders that could exclude Amazon, Microsoft ‌and Google from such projects, according to documents seen by Reuters. The proposal is part ​of the European Commission's Cloud and AI Development Act, which EU tech chief Henna Virkkunen will announce on Wednesday as part of a package of measures aimed at reducing Europe's dependence on U.S. tech and promoting ‌European businesses. The drive for ⁠sovereignty requirements in sensitive sectors such as banking, energy, healthcare and comes amid fears of surveillance by the ⁠United States and that it may get unlawful access to Europeans' data on the basis of its laws such as the Cloud Act which ​requires U.S.-based ​providers to grant authorities access to ​data even if it is ‌stored abroad.

Analysis-AI debt sales reshape global corporate bond markets
Reuters76d agoneutral
Analysis-AI debt sales reshape global corporate bond markets

From Europe to Japan and Switzerland, huge bond issues by Big Tech companies are proving that smaller markets, often overshadowed by the U.S., can punch above their weight in the $40 trillion world of corporate debt. Google-parent Alphabet is already one of the biggest ‌outstanding borrowers in the sterling and Swiss franc corporate bond markets, while Amazon raised 14.5 billion euros ($16.88 billion) in March from an eight-part deal, the ‌largest ever in the euro corporate bond market, according to LSEG. Debt issues by so-called "hyperscalers" - or Big Tech companies - outside the United States are part of a push to diversify their funding early on, bankers said, as ​they look to finance trillions of dollars of investment in AI infrastructure, especially data centers, in the years ahead.

AI Bubble Debate Gets Real as Chip Stocks Rally Turns Historic
Bloomberg77d agobullish
AI Bubble Debate Gets Real as Chip Stocks Rally Turns Historic

(Bloomberg) -- Chipmakers are by far the hottest stocks in the market, but their recent surge is lending urgency to the debate over whether investors are buying into an artificial-intelligence bubble that’s due to burst.Most Read from BloombergUS Says Deals With Iran for Safe Hormuz Transit Are ProhibitedAmericans Injured in Iranian Missile Strike on Kuwaiti Air BaseStrait of Hormuz Ship Transits Are Rising Thanks to US HelpAmericans Hurt in Kuwait as Trump Sends Mixed Signals on WarCVS Returns

Apple’s next AI test may not be Siri
TheStreet78d agoneutral
Apple’s next AI test may not be Siri

Apple (AAPL) doesn’t have to win the artificial intelligence model competition to win the next phase of AI. That's the bet underlying Bank of America's latest Apple call. Wamsi Mohan, an analyst at BofA, increased his price target on Apple to $380 from $330 and reiterated a Buy rating on May 26. ...

Social media companies to pay $27 million to settle Kentucky school district's lawsuit, records show
Reuters78d agobearish
Social media companies to pay $27 million to settle Kentucky school district's lawsuit, records show

A Kentucky school district secured roughly $27 million in settlements from Meta Platforms and other social media companies over claims they fueled a student mental‑health crisis, according to records seen by Reuters on Friday. Meta agreed to pay ‌the most at $9 million in the bellwether case for school districts, according to documents that reveal financial terms for the first time as ‌terms of the deals had not been disclosed in court. The operator of Instagram, Facebook and WhatsApp settled the case brought by Breathitt County School District on May 21, a few weeks ​before a planned June trial, following settlements by co-defendants Snap Inc, YouTube parent Alphabet and TikTok parent ByteDance.