Lenovo posted Q4 revenue of $21.6bn, up 27% year-on-year and roughly $2.2bn ahead of consensus, sending shares up about 15% on Friday in Hong Kong. Net profit attributable to shareholders jumped 479% to $521m, almost double the $271m analysts had penciled in, according to data compiled by CNBC.
Memory stocks are bouncing hard at midday on Thursday after a punishing week for the sector. SanDisk ( NASDAQ:SNDK | SNDK Price Prediction) shares are up 9%, Western Digital ( NASDAQ:WDC) stock is higher by 5%, and Micron Technology ( NASDAQ:MU) shares are advancing 3%. The rebound follows a brutal five sessions in which each of the three was down between 4% and 9%. SNDK stock had slipped 4% over the past week, WDC shares had dropped 7%, and MU stock had given back 9% heading in.
Intel is pressuring PC and notebook manufacturers to build new systems around its 18A processors. The chipmaker is said to have severely limited the availability of older Intel 7 processors for consumer products, leaving OEMs with few other options. According to sources at Nikkei Asia, this includes the new Panther Lake and Wildcat Lake processors, which are manufactured using Intel's 18A process.
Google DeepMind has agreed to enter formal talks with UK tech workers that could lead to trade union representation amid growing staff concerns about the use of its AI by the US and Israeli governments' defence and intelligence. In a groundbreaking move, the artificial intelligence arm of the multi-trillion dollar Google empire, led by the Nobel prize winner Demis Hassabis, has agreed to meet the Communications Workers Union and Unite at the Advisory, Conciliation and Arbitration Service (Acas) after several hundred workers at its London headquarters earlier this month voted to unionise.
Midco and Switch are partnering to provide broadband infrastructure to support AI demand in Ellendale, North Dakota. The five-year agreement between the two companies is designed to enable a 200-terabit network with more than 500 individual 400 gigabit-per-second (Gbps) circuits delivered across two geographically diverse routes between Ellendale, North Dakota, and Chicago, Illinois.
