LOS ALTOS — Majestic Labs, an AI startup founded by veteran chip designers from Meta and Google, emerged from stealth mode Tuesday after raising $100 million to develop technology it claims will drastically reduce the cost and scale of data centers needed for advanced artificial intelligence. The company, with dual headquarters in Los Altos, California,…
Tag: cloud computing
Tech titans bet big on AI, fueling bubble fears as spending tops $380 billion
In a high-stakes gamble that is reshaping the global economy, America’s technology giants are doubling down on artificial intelligence, signaling this week that their record-breaking investments are only accelerating. Despite rising concerns from Wall Street and central banks that the industry is inflating a dangerous bubble, Alphabet (Google), Meta, Microsoft, and Amazon are collectively planning…
OVHcloud breaks €1 billion revenue mark; Founder Klaba takes helm
PARIS: European cloud computing services provider OVHcloud reported on Tuesday full-year revenue that broke through the symbolic one-billion-euro barrier, with its core profit margin exceeding 40%, and announced the appointment of its founder Octave Klaba as Chairman and Chief Executive Officer. The French company said the governance change was made to “align vision, strategy, and…
CoreWeave Inc. signs agreement to acquire Monolith AI Limited
LONDON: CoreWeave Inc. announced an agreement to acquire Monolith AI Limited, a pioneer in applying artificial intelligence and machine learning to solve complex physics and engineering challenges. Combining Monolith’s simulation and test-driven machine learning capabilities with CoreWeave’s purpose-built AI cloud enables the combined companies to offer a full-stack platform for industrial and manufacturing enterprises. The…
Coral Bridge subsea cable links Egypt and Jordan, boosting regional digital infrastructure
AQABA: NaiTel, the telecom arm of Aqaba Digital Hub (ADH), and Telecom Egypt have completed the laying of the Coral Bridge subsea cable, the first direct digital link between Egypt and Jordan in more than 25 years. The 15-kilometer express cable, equipped with 48 fiber pairs, connects Taba, Egypt, to Aqaba, Jordan, across the Gulf…
Tencent Q2 earnings surge on gaming and AI investments
Chinese tech giant posted revenue of 184.504 billion yuan ($25.7 billion) for the quarter SHENZHEN: Tencent Holdings Ltd. on Wednesday reported a 15% rise in second-quarter revenue, driven by robust growth in its gaming division and strategic investments in artificial intelligence. The Chinese tech giant posted revenue of 184.504 billion yuan ($25.7 billion) for the…
Amazon’s AWS margins slide to lowest level since 2023
Amazon’s online store sales rose 11% to $61.5 billion, while advertising revenue jumped 23% to $15.7 billion SEATTLE: Amazon Web Services (AWS) reported its lowest profit margins since late 2023, raising concerns among investors about the tech giant’s ability to maintain growth in its cloud computing division. Amazon said AWS operating margins fell to 32.9%…
Microsoft passes $4 trillion market cap after blockbuster earnings, bets big on AI
Microsoft Corp (MSFT.O) surged past $4 trillion in market value Thursday, becoming the second U.S. company to hit the milestone after Nvidia (NVDA.O), buoyed by strong quarterly earnings and aggressive investments in artificial intelligence. The tech giant’s shares jumped 6.6% to $546.33 in morning trading, driven by soaring sales in its Azure cloud business and…
Celebrus Technologies reports strong FY25 growth amid strategic shifts
LONDON: Celebrus Technologies plc (AIM: CLBS), a leading data solutions provider, announced its financial results for the year ended 31 March 2025, highlighting double-digit growth in annual recurring revenue (ARR) and improved profitability despite macroeconomic challenges. The company reported a 13.9% increase in ARR to $18.8 million, driven by new customer wins and upsells. Total revenue…
Diskover secures $7.5 million seed funding; Partners with Snowflake and NetApp, acquires CloudSoda
LOS ANGELES: Diskover, a leader in helping enterprises manage unstructured data at exabyte scale, announced Tuesday a series of major milestones: closing a $7.5 million seed funding round, forming partnerships with Snowflake and NetApp — both of which are now investors — and acquiring data intelligence platform CloudSoda. The moves mark a significant expansion for Diskover,…
Pinewood.AI to acquire Lithia’s stake in North American JV in $76.5 million deal
LONDON: Pinewood.AI, a leading cloud-based software provider for the automotive retail sector, has agreed to acquire Lithia UK Holdings Limited’s 51% stake in Pinewood North America LLC for $76.5 million, the company announced today. The deal, structured through the issuance of 14,560,691 new ordinary shares in Pinewood.AI at 386.5 pence per share, values the joint…
Lenovo Unveils ThinkStation PGX: A Compact AI Mini Supercomputer for Developers
Lenovo has officially announced its latest AI mini supercomputer, the ThinkStation PGX, designed to provide developers with a powerful AI workstation right out of the box. Dubbed “a compact, personal AI developer workstation” by Lenovo, the PGX is powered by Nvidia’s GB10 Grace Blackwell Superchip, boasting 128 GB of coherent unified system memory. Performance & Scalability The…