Apple Is Developing AI Chips for Data Centers, Seeking Edge in Arms Race

The company is leaning on its long history of chip development in the effort, code-named Project ACDC. 


 
Amazon to Invest $9 Billion in Singapore Cloud Infrastructure

The tech giant will spend $9 billion to expand its cloud services in Singapore, coming as global tech companies are boosting their data-center footprints in Asia amid a boom in demand for artificial-intelligence computing. 


 
BP to Cut Costs as Posts Fall

BP plans to cut at least $2 billion in costs after its first-quarter profits were hit by lower prices and a U.S. refinery outage, missing market forecasts. 


 
UBS Beats Forecasts as Integration-Related Costs Fall

UBS returned to profit in the first quarter with the integration of Credit Suisse less of a drag on its performance than analysts anticipated, as the group continued to attract funds from wealthy clients. 


 
Starliner Launch Delayed After Issue Identified With Rocket Valve

A Boeing spacecraft was due to take its inaugural crewed flight Monday, carrying NASA astronauts to the International Space Station. 


 
Disney's Streaming Could Be All the Earnings Talk

The entertainment company has said it expects its streaming division to become profitable by the fourth quarter of this fiscal year. 


 
Infineon Cuts Guidance Again on Auto Caution

Infineon lowered its sales and profit margin forecasts for fiscal 2024 as it continues to struggle with slower growth in the automotive sector. 


 
Nintendo Teases Switch Successor After Weak Guidance

Nintendo said it will announce a successor to its seven-year-old Switch videogame console after guiding for a significant profit drop this fiscal year on weaker device and game sales. 


 
Self-Driving Startup Wayve Raises More Than $1 Billion in Funding Led by SoftBank

The U.K. startup raised more than $1 billion to accelerate its efforts to redefine autonomous driving via artificial intelligence. 


 
UniCredit Upbeat on Outlook After Strong First Quarter

UniCredit improved its 2024 guidance as it reported better than expected profits for the first quarter on higher revenue and net interest income.


(END) Dow Jones Newswires

05-07-24 0515ET