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Oracle stock booms 40%, on pace for best day since 1992

cnbc.com Chris Eudaily 2025-10-04 07:50:24

Oracle stock roared 40% higher Wednesday, after reporting gobsmacking cloud demand numbers, setting the company on track for a historic gain. The cloud giant is on pace for its best day since 1992, and is now quickly approaching the $1 trillion market cap benchmark. Oracle is now at $950 billion. The company said it has $455 billion in remaining performance obligations, up 359% from a year earlier. "This is a very historic kind of print right here from Oracle with this backlog," Ben Reitzes,

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California’s High-Speed Rail Fiasco Keeps Getting Worse

gizmodo.com Benton Graham 2025-10-04 07:35:07

Seventeen years ago, Californians bet on a grand vision of the future. They narrowly approved a $10 billion bond issue to build a high-speed rail line that would zip between San Francisco and Los Angeles in under three hours. This technological marvel would slash emissions, revitalize the state’s Central Valley, and, with some financial help from the feds and private sector, provide the fast, efficient, and convenient travel Asia and Europe have long enjoyed. State officials promised to deliver

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Oracle soars 30% on cloud growth projections even as earnings miss estimates

cnbc.com Jordan Novet 2025-10-04 11:31:27

Oracle shares spiked 30 % Wednesday after the database software maker indicated hefty growth prospects due to new cloud contracts, even as earnings and revenue missed estimates. Here's how the company did in comparison with LSEG consensus: Earnings per share: $1.47 adjusted vs. $1.48 expected $1.47 adjusted vs. $1.48 expected Revenue: $14.93 billion vs. $15.04 billion expected Revenue increased 12% from $13.3 billion a year earlier during the quarter, which ended on Aug. 31, according to a s

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'We're all kind of in shock.' Oracle's revenue projections leave analysts slack-jawed

cnbc.com Ari Levy 2025-10-04 19:51:37

Oracle Chair and Chief Technology Officer Larry Ellison speaks at the Oracle OpenWorld conference in San Francisco on Sept. 16, 2019. John DiFucci from Guggenheim Securities said he was "blown away." TD Cowen's Derrick Wood called it a "momentous quarter." And Brad Zelnick of Deutsche Bank said, "We're all kind of in shock, in a very good way." That's how the analysts opened their comments and questions during Oracle's quarterly earnings call on Tuesday, as the company's stock price was in the

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Oracle pops 27% on cloud growth projections even as earnings miss estimates

cnbc.com Jordan Novet 2025-10-05 07:48:54

Oracle shares spiked 27% in extended trading on Tuesday after the database software maker indicated hefty growth prospects due to new cloud contracts, even as earnings and revenue missed estimates. Here's how the company did in comparison with LSEG consensus: Earnings per share: $1.47 adjusted vs. $1.48 expected $1.47 adjusted vs. $1.48 expected Revenue: $14.93 billion vs. $15.04 billion expected Revenue increased 12% from $13.3 billion a year earlier during the quarter, which ended on Aug.

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Nebius stock soars nearly 50% on Microsoft AI deal

cnbc.com Ryan Browne 2025-10-05 11:02:19

Nebius, which was spun out from Russian internet giant Yandex, provides graphics processing units or GPUs for training artificial intelligence models. Shares of artificial intelligence infrastructure firm Nebius Group soared nearly 50% Tuesday, a day after the company disclosed a multi-billion-dollar deal with Microsoft . The Amsterdam-based firm announced it had struck a multi-year deal with Microsoft worth up to $19.4 billion to provide cloud computing power for AI workloads. Nebius, which w

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Oracle pops 22% on cloud growth projections even as earnings miss estimates

cnbc.com Jordan Novet 2025-10-05 11:51:35

Oracle CEO Safra Catz, center, speaks during a dinner at the White House in Washington on Sept. 4, 2025. President Donald Trump hosted technology and business leaders for dinner after they joined First Lady Melania Trump's meeting of the Artificial Intelligence Education Task Force at the White House. Oracle shares spiked 22% in extended trading on Tuesday after the database software maker indicated hefty growth prospects due to new cloud contracts, even as earnings and revenue missed estimates

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Apple barely talked about AI at its big iPhone 17 event

news.ycombinator.com Hayden Field 2025-10-05 10:54:23

is The Verge’s senior AI reporter. An AI beat reporter for more than five years, her work has also appeared in CNBC, MIT Technology Review, Wired UK, and other outlets. Apple’s hotly-anticipated Apple event was chock-full of news about updates to AirPods, the Apple Watch, the new suite of iPhones, and more. But during the one-hour-and-fifteen-minute presentation, which was considerably shorter than usual, there was one notable buzzword missing from a good chunk of the fanfare: AI. Although CEO

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UAE Lab Releases Open-Source Model to Rival China’s DeepSeek

gizmodo.com Ece Yildirim 2025-10-05 11:05:37

The United Arab Emirates wants to compete with the U.S. and China in AI, and a new open source model may be its strongest contender yet. An Emirati AI lab called the Institute of Foundation Models released K2 Think on Tuesday, a model that researchers say rivals OpenAI’s ChatGPT and China’s DeepSeek in standard benchmark tests. “With just 32 billion parameters, it outperforms flagship reasoning models that are 20x larger,” the lab wrote in a press release on Tuesday. DeepSeek’s R1 has 671 bill

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Apple barely talked about AI at its big iPhone 17 event

theverge.com Hayden Field 2025-10-05 10:15:02

is The Verge’s senior AI reporter. An AI beat reporter for more than five years, her work has also appeared in CNBC, MIT Technology Review, Wired UK, and other outlets. Apple’s hotly-anticipated Apple event was chock-full of news about updates to AirPods, the Apple Watch, the new suite of iPhones, and more. But during the one-hour-and-fifteen-minute presentation, which was considerably shorter than usual, there was one notable buzzword missing from a good chunk of the fanfare: AI. Although CEO

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Ramp says it has hit $1B in annualized revenue

techcrunch.com Julie Bort 2025-10-05 23:23:12

In Brief On Tuesday, Ramp answered any lingering questions as to why investors recently valued the expense management startup at $22.5 billion, just 45 days after a previous funding round valued it at $16 billion: the company says it has achieved $1 billion in annualized revenue. Annualized revenue refers to a company’s current revenue rate projected over a full year. In March, co-founder and CEO Eric Glyman told TechCrunch that Ramp had hit annualized revenue of $700 million. That’s $300 mill

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Nebius shares soar 40% on Microsoft AI deal

cnbc.com Ryan Browne 2025-10-06 15:54:09

Nebius, which was spun out from Russian internet giant Yandex, provides graphics processing units or GPUs for training artificial intelligence models. Artificial intelligence infrastructure firm Nebius Group soared in U.S. premarket trading on Tuesday, following the company's announcement of a multi-billion-dollar deal with Microsoft . Nebius' stock soared 40% Tuesday. The Amsterdam-based firm announced it had struck a multi-year deal with Microsoft worth $19.4 billion to provide cloud comput

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Nebius shares soar 55% in premarket on Microsoft AI deal

cnbc.com Ryan Browne 2025-10-06 19:23:55

Nebius, which was spun out from Russian internet giant Yandex, provides graphics processing units or GPUs for training artificial intelligence models. Artificial intelligence infrastructure firm Nebius Group soared in U.S. premarket trading on Tuesday, following the company's announcement of a multi-billion-dollar deal with Microsoft . Nebius' stock was up 55% at around 1:20 p.m. ET. The Amsterdam-based firm announced it had struck a multi-year deal with Microsoft worth $19.4 billion to provi

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Nebius shares soar 51% in premarket on Microsoft AI deal

cnbc.com Ryan Browne 2025-10-07 04:18:06

Nebius, which was spun out from Russian internet giant Yandex, provides graphics processing units or GPUs for training artificial intelligence models. Artificial intelligence infrastructure firm Nebius Group soared in U.S. premarket trading on Tuesday, following the company's announcement of a multi-billion-dollar deal with Microsoft . Nebius' stock was up 51% at 10:39 a.m. London time (05:39 a.m. E.T.) The Amsterdam-based firm announced it had struck a multi-year deal with Microsoft worth $1

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AI firm Mistral valued at $14 billion as chip giant ASML takes major stake

cnbc.com Ruxandra Iordache 2025-10-07 04:46:11

Nvidia -backed Mistral AI clinched a 11.7 billion-euro ($13.8 billion) valuation in a in a Series C funding round that saw Dutch chip equipment maker ASML secure a major stake in the French firm. ASML pumped 1.3 billion euros in Mistral AI's 1.7 billion-euro funding round as lead investor, gaining a 11% shareholding in the French company on a fully diluted basis. Other participants in the round included existing investors Nvidia, DST Global, Andreessen Horowitz, Bpifrance, General Catalyst, In

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EchoStar to sell spectrum to SpaceX after FCC threatened to revoke licenses

arstechnica.com Unknown 2025-10-08 03:31:26

SpaceX's complaints to the Federal Communications Commission have helped the satellite company land a $17 billion deal to buy spectrum licenses from EchoStar. The deal consists of up to $8.5 billion in cash and up to $8.5 billion in SpaceX stock, EchoStar said. SpaceX also agreed to pay $2 billion worth of interest payments on EchoStar debt through November 2027. After SpaceX alleged that EchoStar subsidiary Dish Network "barely uses" its spectrum and urged the FCC to make the spectrum availab

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Databricks confirms new $100B valuation on $4B ARR

techcrunch.com Julie Bort 2025-10-08 15:33:26

In Brief Just nine months after raising a whopping $10 billion (plus $5 billion in debt) in January, Databricks has confirmed another $1 billion raise at a $100 billion valuation. When rumors of the raise first broke last month, Databricks CEO Ali Ghodsi told TechCrunch that the company is using the funds to invest in its Supabase-competitor database for AI agents. “A year ago, we saw in the data that 30% of the databases were not created by humans,” said Ghodsi. “For the first time, they wer

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Broadcom stock jumps 9% on new $10 billion customer that analysts say is OpenAI

cnbc.com Ari Levy 2025-10-09 19:03:41

Analysts at Mizuho, Cantor Fitzgerald and KeyBanc all said they think AI startup OpenAI is the customer. The Financial Times reported on Thursday, citing people familiar with the partnership, that the two companies co-designed a chip that will hit the market next year. "One of these prospects released production orders to Broadcom, and we have accordingly characterized them as a qualified customer for XPUs," Tan said. He added that the order increased Broadcom's forecast for AI revenue next yea

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Anthropic agrees to pay $1.5 billion to settle authors' copyright lawsuit

cnbc.com Ashley Capoot 2025-10-09 19:01:05

Anthropic has agreed to pay at least $1.5 billion to settle a class action lawsuit with a group of authors, who claimed the artificial intelligence startup had illegally accessed their books. The company will pay roughly $3,000 per book plus interest, and agreed to destroy the datasets containing the allegedly pirated material, according to a filing on Friday. The lawsuit against Anthropic has been closely watched by AI startups and media companies that have been trying to determine what copyr

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Trump threatens trade probe after 'discriminatory' EU fines against Google, Apple

cnbc.com Kevin Breuninger 2025-10-09 23:58:23

US President Donald Trump during a dinner with tech leaders in the State Dining Room of the White House in Washington, DC, US, on Thursday, Sept. 4, 2025. President Donald Trump on Friday threatened to launch a trade investigation to "nullify" what he said were discriminatory fines being levied by Europe against U.S. tech firms such as Google and Apple . "We cannot let this happen to brilliant and unprecedented American Ingenuity and, if it does, I will be forced to start a Section 301 proceed

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EU Fines Google $3.45B for Giving Its Ad Tech Preferential Treatment

cnet.com See Full Bio 2025-10-09 21:53:00

Google faces a $3.45 billion fine from the European Union for engaging in anticompetitive advertising technology practices, the European Commission said Friday. The fine stems from a complaint by the European Publishers Council alleging Google gave preference to its own online ad display services, hurting competitors and online publishers. The European Commission wants Google to stop these self-preferential practices and to cease its conflicts of interest. The Commission says it'll give Google,

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Ignoring Trump threats, Europe hits Google with 2.95B euro fine for adtech monopoly

arstechnica.com Unknown 2025-10-09 23:17:30

Google may have escaped the most serious consequences in its most recent antitrust fight with the US Department of Justice (DOJ), but the European Union is still gunning for the search giant. After a brief delay, the European Commission has announced a substantial 2.95 billion euro ($3.45 billion) fine relating to Google's anti-competitive advertising practices. This is not Google's first big fine in the EU, and it probably won't be the last, but it's the first time European leaders could face b

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EU fines Google $3.5 billion over adtech antitrust violations

engadget.com Unknown 2025-10-10 03:37:01

The European Commission has announced that it will fine Google €2.95 billion, or around $3.5 billion, for violating European Union antitrust laws and "distorting competition in the advertising technology industry." The decision follows a similar ruling from earlier in 2025, where a US federal judge concluded that Google maintains a monopoly in online advertising technology. Google displays ads in search results, but it also has a dominant position as a software provider for online advertisers a

Topics: ad adx billion commission google

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Broadcom stock jumps 11% on new $10 billion customer that analysts say is OpenAI

cnbc.com Ari Levy 2025-10-10 07:01:50

Analysts at Mizuho, Cantor Fitzgerald and KeyBanc all said they think AI startup OpenAI is the customer. The Financial Times reported on Thursday, citing people familiar with the partnership, that the two companies co-designed a chip that will hit the market next year. "One of these prospects released production orders to Broadcom, and we have accordingly characterized them as a qualified customer for XPUs," Tan said. He added that the order increased Broadcom's forecast for AI revenue next yea

Topics: analysts billion broadcom revenue year

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EU fines Google $3.5 billion for anti-competitive ad practices

bleepingcomputer.com Unknown 2025-10-10 11:36:03

The European Commission has fined Google €2.95 billion ($3.5 billion) for abusing its dominance in the digital advertising technology market and favoring its adtech services over those of its competitors. Google was also ordered by the EU's top antitrust regulator to stop anti-competitive and "self-preferencing" practices and take measures to mitigate future conflicts of interest in the adtech market. Lee-Anne Mulholland, Google's Global Head of Regulatory Affairs, told BleepingComputer that t

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Google fined $3.5 billion by EU for ad tech abuse

theverge.com Emma Roth 2025-10-10 11:51:29

is a news writer who covers the streaming wars, consumer tech, crypto, social media, and much more. Previously, she was a writer and editor at MUO. Posts from this author will be added to your daily email digest and your homepage feed. The European Commission has waged a €2.95 billion (~$3.5 billion) fine against Google for “abusing its dominant position” in advertising technology. In its announcement, the Commission claims that Google’s alleged anticompetitive practices have increased costs f

Topics: billion commission google mulholland tech

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Broadcom stock jumps 15% on new $10 billion customer that analysts say is OpenAI

cnbc.com Ari Levy 2025-10-10 23:33:12

Broadcom shares soared 15% on Friday after the chipmaker said on its earnings call that it had secured a new $10 billion customer. Analysts quickly pointed to OpenAI. Following a better-than-expected earnings report late Thursday, Broadcom CEO Hock Tan told analysts that a fourth large customer had put in orders for $10 billion in custom artificial intelligence chips, which the company calls XPUs. "One of these prospects released production orders to Broadcom, and we have accordingly character

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Broadcom’s stock pops on mystery $10 billion AI customer

cnbc.com Kif Leswing Ari Levy 2025-10-11 19:17:30

Broadcom reported fiscal third-quarter earnings that beat expectations and provided robust guidance for the current quarter. The stock rose in extended trading after the company said it had secured $10 billion in orders from a new client for custom chips. Here's how the chipmaker did versus LSEG consensus estimates: Earnings per share: $1.69 adjusted vs. $1.65 expected $1.69 adjusted vs. $1.65 expected Revenue: $15.96 billion vs. $15.83 billion expected Broadcom said it expects $17.4 billion

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Salesforce slump deepens as stock drops nearly 5% on weak guidance

cnbc.com Ari Levy 2025-10-12 03:01:44

Salesforce CEO Marc Benioff attends the 55th annual meeting of the World Economic Forum in Davos, Switzerland, on Jan. 23, 2025. A bad year just got worse for Salesforce . Following a disappointing revenue forecast in its quarterly earnings report late Wednesday, Salesforce's stock slumped nearly 5%, bringing its decline for 2025 to 27%. That's the worst performance in large-cap tech. Revenue increased 10% in the fiscal second quarter from a year earlier, cracking double-digit growth for the

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Broadcom reports 63% jump in AI revenue as results beat estimates

cnbc.com Kif Leswing Ari Levy 2025-10-12 03:44:31

Broadcom reported fiscal third-quarter earnings that beat expectations and provided robust guidance for the current quarter. The stock was little changed in extended trading. Here's how the chipmaker did versus LSEG consensus estimates: Earnings per share: $1.69, adjusted, versus $1.65 expected $1.69, adjusted, versus $1.65 expected Revenue: $15.96 billion versus $15.83 billion expected Broadcom said it expects $17.4 billion in fourth-quarter revenue, higher than the $17.02 billion expected

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Latest Tech News

Oracle stock booms 40%, on pace for best day since 1992

California’s High-Speed Rail Fiasco Keeps Getting Worse

Oracle soars 30% on cloud growth projections even as earnings miss estimates

'We're all kind of in shock.' Oracle's revenue projections leave analysts slack-jawed

Oracle pops 27% on cloud growth projections even as earnings miss estimates

Nebius stock soars nearly 50% on Microsoft AI deal

Oracle pops 22% on cloud growth projections even as earnings miss estimates

Apple barely talked about AI at its big iPhone 17 event

UAE Lab Releases Open-Source Model to Rival China’s DeepSeek

Apple barely talked about AI at its big iPhone 17 event

Ramp says it has hit $1B in annualized revenue

Nebius shares soar 40% on Microsoft AI deal

Nebius shares soar 55% in premarket on Microsoft AI deal

Nebius shares soar 51% in premarket on Microsoft AI deal

AI firm Mistral valued at $14 billion as chip giant ASML takes major stake

EchoStar to sell spectrum to SpaceX after FCC threatened to revoke licenses

Databricks confirms new $100B valuation on $4B ARR

Broadcom stock jumps 9% on new $10 billion customer that analysts say is OpenAI

Anthropic agrees to pay $1.5 billion to settle authors' copyright lawsuit

Trump threatens trade probe after 'discriminatory' EU fines against Google, Apple

EU Fines Google $3.45B for Giving Its Ad Tech Preferential Treatment

Ignoring Trump threats, Europe hits Google with 2.95B euro fine for adtech monopoly

EU fines Google $3.5 billion over adtech antitrust violations

Broadcom stock jumps 11% on new $10 billion customer that analysts say is OpenAI

EU fines Google $3.5 billion for anti-competitive ad practices

Google fined $3.5 billion by EU for ad tech abuse

Broadcom stock jumps 15% on new $10 billion customer that analysts say is OpenAI

Broadcom’s stock pops on mystery $10 billion AI customer

Salesforce slump deepens as stock drops nearly 5% on weak guidance

Broadcom reports 63% jump in AI revenue as results beat estimates

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