The week was abuzz with major tech and market news. From SoftBank and OpenAI’s billion-dollar commitment to AI data centers to speculations about Tim Cook’s successor at Apple, the tech world was far from quiet. Let’s dive in:
SoftBank And OpenAI’s Billion-Dollar Commitment
OpenAI and SoftBank Group announced a $1 billion investment in SB Energy, a SoftBank subsidiary, to power the next generation of massive AI data centers in the U.S. This is part of the Stargate project, with each company investing $500 million to meet the growing demand for AI computing power. OpenAI has also chosen SB Energy to construct and operate its 1.2 GW data center site in Milam County.
Apple’s Potential CEO Successor
Reports continue to circulate about Apple CEO Tim Cook’s potential exit in the coming years. The leading candidate for his replacement is reportedly the head of hardware engineering, who has been with Apple for over 25 years. Given Apple’s success under Cook, the board of directors may turn to an insider who is familiar with key products like the iPhone and growth items like the highly anticipated foldable iPhone.
Alibaba’s Step Up In The AI Race
Alibaba Group Holding Ltd. stock rose after reports of expanded access to Nvidia Corp.’s advanced AI chips in China. Reports suggest that China may approve limited imports of Nvidia’s H200 chips as early as this quarter. Nvidia is tightening its sales of H200 AI chips to China as it works to reopen a critical market while managing geopolitical tensions between Washington and Beijing.
Taiwan Semiconductor’s Record Quarter
Taiwan Semiconductor Manufacturing Co. reported stronger-than-expected results on a monthly and quarterly basis, with December-quarter revenue exceeding market forecasts. The contract chipmaker generated about 1.05 trillion New Taiwanese dollars ($33.1 billion) in revenue during the October–December period, marking roughly 20.5% growth from a year earlier.
Tech Giants Dodge New European Rules
Major tech companies like Alphabet Inc.’s Google, Meta Platforms, Inc., Amazon.com, Inc., Netflix Inc., and Microsoft Corp will reportedly avoid binding new obligations under the EU’s upcoming Digital Networks Act. The European Commission is preparing to unveil the Act on Jan. 20, which is a major overhaul of EU digital and telecom rules aimed at boosting competitiveness and accelerating investment in broadband and fiber infrastructure.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Image via Shutterstock
Recent Comments