Posts by Stephanie Irvin
Oracle denies report on OpenAI data centre delays
[BENGALURU] Oracle denied on Friday (Dec 12) a media report that it was delaying OpenAI-related data centres, following investor worries over its debt-fuelled artificial intelligence (AI) infrastructure buildout. Bloomberg News had earlier in the day reported that Oracle had pushed back the completion dates for some data centres it is developing for OpenAI to 2028,…
Read MoreAmazon rushes out latest AI chip to take on Nvidia, Google
[WASHINGTON] Amazon.com’s cloud unit raced to get the latest version of its artificial intelligence (AI) chip to market, renewing efforts to sell hardware capable of rivalling products from Nvidia and Google. The accelerator, called Trainium3, was recently installed in a few data centres and will be available for customers beginning on Tuesday (Dec 2), Dave…
Read MoreOpenAI declares ChatGPT ‘code red’ over stiff competition: report
CEO Altman says resources must be devoted to fending off the new competition to its chatbot [WASHINGTON] OpenAI CEO Sam Altman has declared a company-wide “code red” as its ChatGPT technology faces stiff competition from other big tech rivals, especially Google, US media reported. In a memo to staff on Monday (Dec 2), Altman told…
Read MoreSingtel tops buybacks; Soon Hock and EnGro chairs boost stakes; Sanli eyes growth with placement
[SINGAPORE] Over the five trading sessions from Nov 21 to 27, institutions were net sellers of Singapore stocks, with net institutional outflow of S$552 million extending the S$131 million net outflow for the previous week. Stocks that saw the highest net institutional outflow included Genting Singapore , UOB , Keppel , DBS , Singapore Exchange…
Read MoreFlood prevention strategies: essential tools for urban and industrial areas
Flooding is one of the growing challenges facing cities and industrial facilities, with limited drainage and proper control measures heightening the risks. People, operations and properties need to feel safe, especially as extreme weather conditions become increasingly frequent. Keep reading to understand some of the effective prevention strategies used in flood mitigation campaigns. Protecting Industrial…
Read MoreHSBC overhauls trading business in bid to become debt powerhouse
The firm will merge Group-of-10 rates trading unit with FX, EM rates and commodities desks into a new global macro division [LONDON] HSBC Holdings is restructuring its trading division as part of chief executive officer Georges Elhedery’s push to make the lender a powerhouse in the debt financing business. The firm’s Group-of-10 rates trading unit…
Read MoreXiaomi rides fan base to EV profitability faster than Tesla
China’s mature EV supply chain helps Xiaomi to reach scale without needing heavy capital [BEIJING] Xiaomi parlayed its popularity with an existing customer base to rake in orders for its push into electric cars, reaching profitability in less than half the time it took Tesla. The consumer electronics giant on Tuesday (Nov 18) reported a…
Read MoreUS Fed official defends easing of bank oversight as concerns mount
THE US central bank’s top banking regulator on Tuesday defended efforts to revamp oversight of the sector, as she faces warnings that weakened supervision could destabilise the financial system. “Our supervisory approach is not about narrowing our focus — it is about sharpening it,” Michelle Bowman, Federal Reserve vice-chair for supervision, said in a statement.…
Read MoreElon Musk’s X down for thousands of US users, Downdetector shows
[WASHINGTON] Elon Musk’s X was down for thousands of users in the US on Tuesday (Nov 18), according to outage tracking website Downdetector.com. There were more than 11,500 reports of issues with the social media platform as of 06.41 am ET, according to Downdetector, which tracks outages by collating status reports from a number of…
Read MoreBitcoin drops to a 7-month low while global stocks sell off; bonds rally
[LONDON] Stocks sold off and Bitcoin hit a seven-month low as investors pulled back from riskier corners of the market before a high-stakes week featuring Nvidia’s earnings and a pivotal US jobs report. A gauge of global stocks hovered around a one-month low, while Asian shares fell 2 per cent and are on track for…
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