South Korea is one of the biggest winners of the AI boom. It’s home to Samsung Electronics and SK Hynix, the two largest manufacturers of memory chips. Chip workers are flashing bonuses of around $400,000. The KOSPI, Korea’s benchmark index, is up almost 60% for the year so far. Yet a report from Goldman Sachs…
In 2012, Djibouti had effectively eliminated malaria within its borders, with just 27 cases recorded for the entire year. Then came Anopheles stephensi, an invasive mosquito species native to South Asia that is uniquely adapted to urban life, breeding in water tanks, buckets and construction sites rather than rural swamps. By 2020, Djibouti’s malaria cases…
Mitsubishi officially became one of the largest natural gas producers in the U.S. on Wednesday, following a $7.5 billion deal that positions the Japanese giant to benefit from the surge in gas exports—especially to Japan—as well as from the AI data center boom that increasingly thirsts for more gas-fired power. Mitsubishi closed on its largest…
On the heels of Nvidia’s $100 billion investment in OpenAI, two Wall Street research notes out today suggest that the current boom in AI may be unsustainable. “AI machines—in quite a literal sense—appear to be saving the US economy right now,” George Saravelos of Deutsche Bank told clients in a research note. “In the absence…
We recently published 10 Big Names With Double-Digit Upsides. Celestica Inc. (NYSE:CLS) is one of last week’s top performers. Celestica saw its share prices soar by 24.6 percent week-on-week, as investor optimism from semiconductor giant Broadcom Inc. spilled over to its stock. During the trading week, Celestica Inc. (NYSE:CLS) rallied for four straight days to…
Welcome to Music Business Worldwide’s weekly round-up – where we make sure you caught the five biggest stories to hit our headlines over the past seven days. MBW’s round-up is supported by Centtrip, which helps over 500 of the world’s best-selling artists maximize their income and reduce their touring costs. The boom in music asset-backed securities came into sharp…
Zenith Bank reported roughly twice the net profit it earned in the first half of last year in the same period this year, its audited financial records show, helped by sharp increases in lending rate introduced by the country’s central bank earlier in the year in its push to slow down inflation. Interest and similar…
The popular messaging app Telegram is nearing financial independence and setting sights on a future initial public offering (IPO). In a recent Financial Times interview, founder Pavel Durov revealed that the company expects to profit next year and is open to going public. With a user base exceeding 900 million, Telegram generates “hundreds of millions…
