DATA CENTER MARKET
Oil holds near two-month high on higher demand outlook, possible rate cut
Exciting developments in the oil market as prices hold steady near recent highs, driven by robust demand projections and the possibility of U.S. interest rate cuts. The looming threat of Hurricane Beryl and reduced crude imports into Asia, especially China, add further intrigue to the market landscape.
The fuel secretly powering India’s economy — GCCs
The growth of global capability centers (GCCs) in India is fueling various sectors and contributing significantly to the economy. With projections indicating substantial growth in the coming years, GCCs are becoming strategic assets for companies and investors, driving innovation and job creation across industries.
Japan's Nikkei edges up as financials, export shares rise
Japan's Nikkei share average edged up on Monday as export-related stocks rose on a weaker yen following stronger-than-expected U.S. jobs data and a rise in domestic yields boosted financial stocks.
Meta hit with privacy complaints over AI plans
A Vienna-based privacy group filed complaints against Meta in 11 European countries over unlawful AI data use. Microsoft announced a $3.2 billion AI investment in Sweden over two years, AMD unveiled new AI chips to challenge Nvidia, and Cisco plans a $1 billion investment in AI startups for secure AI services.
$9.2 T M-cap Nvidia, Microsoft & Apple Now Bigger Than China's Stock Market
Microsoft, Nvidia, and Apple have a combined market capitalisation surpassing that of China's stock market, totaling $9.2 trillion. The tech giants, fueled by investor demand for AI exposure, have seen record highs in their stock prices. Nvidia recently reached a market cap of $3 trillion, with Microsoft investing in OpenAI and Apple showing signs of improvement despite recent challenges. Investors are drawn to the companies' competitive positions but caution is advised due to high valuations.
Hewlett Packard surges over 12% as AI-server demand powers strong results
Analysts at Bernstein said this suggests potential for HPE and peer Dell Technologies to have "very strong shipments over the next quarter or two as they deliver on backlog", but it depends upon customers being willing to take deliveries earlier.
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Intel battles AMD with new data center chips
Intel launched sixth generation Xeon server processors to regain data center market share. Gaudi 3 AI chip, priced competitively, provides a cheaper alternative to rivals' chips. Lunar Lake laptop chip, with a powerful AI processor, will ship in Q3.
NYSE glitch sparks volatility in dozens of stocks
A glitch at the NYSE caused major swings in Berkshire Hathaway and Barrick Gold shares, leading to trading halts in multiple companies. The issue was resolved, with impacted stocks resuming trading after a technical problem was fixed.
AMD launches new AI chips to take on leader Nvidia
Advanced Micro Devices unveiled the MI325X accelerator at Computex, aiming to challenge Nvidia with new AI chips by 2026.
The unexpected boon for the otherwise boring industrial products from AI boom
Stocks in the utility space are no longer the sedate ones that are reserved for defensive investors seeking steady returns. They have now caught the fancy of momentum investors and traders. With the successful spinning of the AI story to the power and industrial stocks, they have become the most trending ones that are vying for the top spot, albeit behind tech stocks.
Tether acquires $100 million stake in US-Listed bitcoin miner Bitdeer
The two firms entered into a subscription agreement for a private placement of 18.6 million Class A ordinary shares, Bitdeer said in a statement on Friday, which generated $100 million in gross proceeds. There was also a warrant to purchase up to five million in additional shares at $10 per share. The private placement closed on Thursday.
India data center boom to drive 10 million sq ft realty demand by 2026
Cloud Service Providers (CSPs), which furnish information technology infrastructure primarily for data storage and computing power via the Internet, have adjusted their strategies to accommodate AI-driven demand. These providers have also disclosed plans for increased investments to support AI-driven growth.
Nvidia profits soar on demand for AI power
Nvidia said Wednesday its quarterly net profit rocketed by seven times year-on-year on demand for its chips to power artificial intelligence in data centers. The California-based company reported a net profit of $14.9 billion, while its revenue of $26 billion was almost four times what it took in during the same fiscal quarter last year.
Nvidia's profit soars, underscoring its dominance in chips for artificial intelligence
Nvidia's profit soared, driven by AI dominance and CEO Jensen Huang's vision of 'AI factories' creating artificial intelligence. The company reported a sevenfold increase in net income and a 10-for-1 stock split, with shares rising 6% in after-hours trading.
Microsoft offers cloud customers AMD alternative to Nvidia AI processors
Microsoft's clusters of Advanced Micro Devices' flagship MI300X AI chips will be sold through its Azure cloud computing service. They will give its customers an alternative to Nvidia's H100 family of powerful graphics processing units (GPUs) which dominate the data center chip market for AI but can be hard to obtain due to high demand.
India overtakes Australia, Japan and Singapore in data centre capacity, gets $40 billion funds
India has emerged as the data center leader in the Asia-Pacific region (excluding China), surpassing countries like Singapore, Australia, South Korea, Japan, and Hong Kong in installed capacity. With 950 MW of installed capacity and an expected addition of another 850 MW by 2026, India is set to solidify its position in the data center business. The country's favorable market conditions are attracting multinational corporations seeking to expand their digital services. Investments in India's data center industry have exceeded $40 billion between 2018 and 2023, with significant commitments from global and domestic investors.
Google launches Trillium chip, improving AI data center performance fivefold
Alphabet's effort to build custom chips for AI data centers represents one of the few viable alternatives to Nvidia's top-of-the-line processors that dominate the market. Together with the software that is closely tied to Google's tensor processing units (TPUs), the chips have allowed the company to take a significant share of the market.
South India, led by Bengaluru and Chennai, spearhead India's tech talent surge
Among functional skills, development (35%) held the highest share of tech hiring demand: Quess Corp Annual Digital Skills Report FY24.
Tech giants start to treat SE Asia like next big thing
Southeast Asia transforms into a tech hub, attracting major investments from global tech giants like Apple and Microsoft. The region's young population drives growth in video streaming, online shopping, and AI, positioning it as a key player in the tech industry.
Arm shares fall 6% as tepid forecast takes shine off AI optimism
Shares of Arm Holdings fell 6% on Thursday as the chip designer's downbeat annual revenue forecast cooled some of the enthusiasm around the stock following its AI-powered jump in recent months.
Arm's annual revenue forecast fails to impress investors; shares tumble
For the current fiscal first quarter, Arm forecast revenue in a range between $875 million and $925 million, with a midpoint of $900 million, compared with an average analyst estimate of $857.5 million, according to LSEG data.
India's data center industry set to double capacity by 2026, attract investments
India's data center industry is poised for significant growth, with its capacity forecasted to double to 2,000 MW by 2026. This expansion is expected to attract investments totaling Rs 50,000 crore over the next three years. Despite India generating 20% of global data, its share of data center capacity is only 3%, indicating vast potential for growth. Adoption of technologies like 5G, IoT, and AI is expected to triple data consumption in India.
People+ai partners with 24 tech organisations to enable open cloud compute infra
AMD, Oracle, and various technology providers collaborate to address the increasing compute requirements. The partnership aims to enhance the compute ecosystem in India through the creation of a network of providers for accessible and tailored compute resources.
SBI invested Rs 714 crore in TCG’s Gurugram project
The State Bank of India invests Rs 714 crore in TCG Urban Infrastructure for the World Trade Centre project in Gurugram. With a total cost of Rs 1,211 crore, TCG has infused substantial capital for construction, while SBI's investment supports the project's development. TCG is a New York-based conglomerate with diverse investments globally, including real estate.
Intel forecast misses estimates; shares tumble
Intel predicts lower Q2 revenue and profit, shares down 8%. Weak demand for data center, PC chips. Nvidia leads AI market. Gelsinger optimistic about Intel rebound.
Adani Group acquires 25 acres from Finolex in Pune to set up data center
In February 2021, Adani Group’s flagship company Adani Enterprises entered a 50:50 joint venture with EdgeConneX to develop and operate data centers throughout India. The joint venture will focus on building a network of hyperscale data centers across the country, starting with Chennai, Navi Mumbai, Noida, Vizag, and Hyderabad markets.
India data center capacity to double in 3 years, capex requirement Rs 50,000 crore
Indian data center industry set to double capacity with substantial investments. High mobile data usage. Rising cost per MW. Industry players see revenue growth. New players expected to enter. Exciting times ahead for the sector.
Anant Raj Ltd to offer cloud services across its data centers
Anant Raj Cloud Pvt. Ltd partners with TCIL to boost data & cloud services, focusing on digital economy growth. Developing 300 MW data centers, they aim to meet the rising demand for comprehensive data solutions in key cities.
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