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Microsoft to spend $3.2 billion in Australia as AI regulation looms

Economic Times

Economic Times · 1y ago

Microsoft to spend $3.2 billion in Australia as AI regulation looms

Microsoft is set to invest $3.2 billion in Australia as the country prepares to introduce regulations on artificial intelligence (AI). The investment will focus on building data centers to support the growing demand for cloud services and AI capabilities. The move comes amid increasing concerns about the ethical and responsible use of AI technology, prompting governments around the world to develop regulatory frameworks.

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Nvidia will dominate Big Tech’s earnings season again

Livemint

Livemint · 10m ago

Nvidia will dominate Big Tech’s earnings season again

Tech giants like Microsoft, Amazon, Google, Facebook, and Apple are significantly increasing their capital spending to support their AI initiatives. In the first half of this year, they collectively spent $106.2 billion, up 49% from the same period last year. Wall Street predicts their capital spending will exceed $60 billion in the September quarter, resulting in a total spend of approximately $231 billion for the year. However, the extent to which these investments will generate returns is yet to be determined, with limited disclosure from most companies on the revenue impact of their generative AI services. Additionally, issues such as regulation, competition, and potential market slowdowns could affect the success of these investments.

Microsoft says to invest 3.2 billion euros in AI in Germany

Economic Times

Economic Times · 1y ago

Microsoft says to invest 3.2 billion euros in AI in Germany

Microsoft announced plans to invest 3.2 billion euros ($3.44 billion) in Germany over the next two years, focusing on artificial intelligence. The investment will mainly be allocated towards setting up data centers and training individuals in AI. Microsoft's chairman, Brad Smith, expressed confidence in Germany and its economy. German Chancellor, Olaf Scholz, welcomed the investment as a sign of confidence in the country. The exact locations of the investments were not disclosed, but Microsoft is primarily considering the western Rhineland region and the Frankfurt banking hub.

Tech market values jump in September on Fed rate cuts, AI optimism

Economic Times

Economic Times · 10m ago

Tech market values jump in September on Fed rate cuts, AI optimism

- Tesla's market value rose by 22.2% in September to $834.4 billion due to record electric vehicle sales in China and the launch of its Full Self-Driving software. - Oracle Corp's market value increased by 21.3% to $472.2 billion as the company aims to surpass $100 billion in revenue by fiscal 2029. - Meta Platforms Inc's market value surged by 10% to $1.45 trillion, driven by the introduction of augmented reality glasses and new AI capabilities. - Amazon.com Inc's market value rose by 4.4% to $1.95 trillion, while Microsoft Corp's market value increased by 3.2% to $3.2 trillion. - Eli Lilly and Co's market value dropped by 7.7% to $842 billion, and Saudi Arabian Oil Co's market value fell by 3% to $1.75 trillion.

India proposes global ethical artificial intelligence framework

Startup News FYI

Startup News FYI · 2y ago

India proposes global ethical artificial intelligence framework

As the G20 Summit approaches, India, under Prime Minister Narendra Modi, aims to take a leadership role in global discussions on ethical AI tools and cryptocurrency regulation. India's shift from avoiding AI regulation to actively shaping it is evident through proposals such as establishing a domestic regulatory body for AI and collaborating with international entities for responsible AI use. Microsoft has put forth a blueprint for AI governance in India, emphasizing safety, security, and deployment guidelines. This aligns with India's evolving approach to AI regulation and Microsoft's commitment to responsible AI development.

OpenAI doubles annualised revenue to $3.4 billion, says report

Livemint

Livemint · 1y ago

OpenAI doubles annualised revenue to $3.4 billion, says report

OpenAI is projected to generate $3.4 billion in annual revenue, with $3.2 billion coming from its products and services. An additional $200 million is expected to be made through Microsoft Azure by offering access to its AI models. OpenAI has seen success with its ChatGPT and has been working to increase revenue by selling services to enterprise customers. The company has recently hired a new CFO, Sarah Friar, to support its AI research and global growth.

Microsoft's slow cloud growth signals AI payoff will take longer

Economic Times

Economic Times · 1y ago

Microsoft's slow cloud growth signals AI payoff will take longer

Microsoft plans to increase spending on AI infrastructure despite slower growth in its cloud business, causing shares to fall. The company expects Azure cloud growth to accelerate in the second half of fiscal 2025. Microsoft's capital spending rose 77.6% to $19 billion in Q4 2024, with most of it invested in cloud and AI-related areas. While Azure growth slowed, AI services saw an increase in revenue. Microsoft CEO Satya Nadella stated that Azure AI is used by over 60,000 customers, and the average spend per customer continues to rise. Despite disappointment in Azure growth, Microsoft's overall revenue rose 15% to $64.7 billion in Q4.

Stablecoin Legislation Looms Despite Threat of Government Shutdown

Startup News FYI

Startup News FYI · 1y ago

Stablecoin Legislation Looms Despite Threat of Government Shutdown

House Financial Services Committee Chair Patrick McHenry has indicated that stablecoin regulation remains a priority, even with the potential threat of a government shutdown looming. McHenry stated that he will do his best to get stablecoin regulation to President Biden's desk. Stablecoins, digital assets pegged to the value of a sovereign currency, have been a topic for federal regulation on Capitol Hill for years. McHenry's committee has produced two bills on digital assets, one focusing on stablecoins and the other on market structure. While there is support from both Republicans and Democrats, the legislation would still need to pass through the Senate and obtain Biden's signature. McHenry aims to reach an agreement by the beginning of the year.

Microsoft bans employees from using Chinese AI app DeepSeek

YourStory

YourStory · 3m ago

Microsoft bans employees from using Chinese AI app DeepSeek

Microsoft has banned its employees from using the Chinese AI app DeepSeek due to concerns over data security and censorship. DeepSeek's data storage on Chinese servers raises red flags, as the government can access this information. Microsoft is cautious about sensitive data potentially ending up with a foreign government. Moreover, DeepSeek may promote state-approved messaging, avoiding topics like Tiananmen Square protests. Similar concerns have led to bans in New York and Australia.

Tech giants are set to spend $200 billion this year chasing AI

Economic Times

Economic Times · 9m ago

Tech giants are set to spend $200 billion this year chasing AI

Silicon Valley's tech giants, including Amazon, Microsoft, Meta, and Alphabet, are continuing to invest heavily in artificial intelligence (AI) despite previous criticism for the high costs without sufficient results. These companies are set to spend over $200 billion on AI-related capital expenditures this year alone. The race to secure high-end chips and build extensive data centers is driving this spending spree, with deals being made with energy providers, including reviving a nuclear plant. The tech giants aim to convince investors that these investments will lead to future profitability beyond their current business models.

Tech giants double down on their massive AI spending

Livemint

Livemint · 6m ago

Tech giants double down on their massive AI spending

Tech giants like Microsoft, Google, Amazon, and Meta are planning significant investment hikes in AI, projecting combined expenditures exceeding $215 billion for AI-related data centers. Despite investor concerns over China's DeepSeek advancements, these companies remain committed to AI development, viewing it as a major opportunity. Amazon, for instance, anticipates over $100 billion in capital expenditures, mostly for AI, while Google accelerates its AI investments to $75 billion. Meanwhile, Microsoft and Meta also boost AI spending, foreseeing exponential demand.

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