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European chip stocks surge as AI-driven demand fuels strong earnings and investor optimism

European chip and electrical equipment stocks rallied sharply as investors responded to strong earnings reports driven by the artificial intelligence investment boom. ASM International surged 9% to an all-time high, while ABB hit a new record after raising its outlook on booming data centre demand. The gains mirror a historic 15-session winning streak in the U.S. SOX index.

Business2 sources

European chip stocks surge as AI-driven demand fuels strong earnings and investor optimism

Business2 sources

Meta slashes 8,000 jobs as AI spending forces tech layoffs across industry giants

Meta announced plans to cut 10% of its workforce, eliminating roughly 8,000 jobs while canceling 6,000 open positions. The social media giant frames the move as necessary to offset record AI investments approaching $135 billion this year. Microsoft simultaneously offered early retirement packages to 7% of its US workforce, signaling a broader industry shift where heavy investment in AI infrastructure is reshaping employment across tech companies.

Business33 sources

Meta slashes 8,000 jobs as AI spending forces tech layoffs across industry giants

Business33 sources

Taiwan stock market surges past UK with $4.14 trillion valuation as AI boom fuels TSMC growth

Taiwan's stock market has overtaken the UK to become the world's seventh-largest, reaching $4.14 trillion in market capitalization. The surge comes as TSMC reported record earnings with 58% net income growth, driven by insatiable demand for AI chips. The Taiex Index has gained 26.5% year-to-date, while TSMC alone represents 45% of Taiwan's entire market cap.

Business2 sources

Taiwan stock market surges past UK with $4.14 trillion valuation as AI boom fuels TSMC growth

Business2 sources

TSMC profit surges 58% on AI demand as chipmaker expands 3nm capacity amid rising costs

Taiwan Semiconductor Manufacturing Co. posted a record $18 billion quarterly profit, driven by surging global demand for chips used in AI applications. The world's largest contract chipmaker raised its 2026 revenue guidance to above 30% growth and announced plans to add three new 3-nanometer fabrication plants. However, TSMC warned that geopolitical tensions in the Middle East could impact profitability as supply chain costs increase.

Business12 sources

TSMC profit surges 58% on AI demand as chipmaker expands 3nm capacity amid rising costs

Business12 sources

Oracle's $38 billion AI infrastructure loan nears completion after months of investor struggle

JPMorgan Chase and Mitsubishi UFJ Financial Group are close to completing Oracle's record-shattering $38 billion loan for data center projects in Texas and Wisconsin. But the months-long struggle to distribute the debt across two dozen investors raises questions about market appetite for AI infrastructure financing as Oracle's credit risk surges and the tech giant burns through cash on its ambitious Stargate AI infrastructure contract with OpenAI.

Business2 sources

Oracle's $38 billion AI infrastructure loan nears completion after months of investor struggle

Business2 sources

Former OpenAI Stargate Leaders Join Meta as AI Infrastructure Competition Intensifies

Three key executives from OpenAI's Stargate initiative are joining Meta Platforms, marking a significant shift in the competition for AI talent. Peter Hoeschele, Shamez Hemani, and Anuj Saharan led OpenAI's massive AI data center capacity efforts before their departure. The move comes as Meta pledges $135 billion in capital expenditures this year and OpenAI pauses its Stargate UK project.

Business3 sources

Former OpenAI Stargate Leaders Join Meta as AI Infrastructure Competition Intensifies

Business3 sources

Big Tech invests billions in nuclear power to meet surging AI data center energy demands

Major technology companies are reshaping nuclear energy funding as AI demand drives unprecedented power needs. Meta, Amazon, and Google have signed deals worth billions to develop small modular reactors, offering nuclear startups both funding and revenue certainty. But financing and development challenges remain as the industry races to commercialize next-gen nuclear power.

Business2 sources

Big Tech invests billions in nuclear power to meet surging AI data center energy demands

Business2 sources

UBS downgrades ServiceNow as AI disruption threatens enterprise software spending budgets

UBS downgraded ServiceNow from buy to neutral, slashing its price target to $100 from $170, citing growing concerns that AI disruption poses a bigger threat than previously believed. The investment bank now hears that over half of enterprise customers are containing non-AI software spend as AI infrastructure investments crowd out traditional software budgets.

Business2 sources

UBS downgrades ServiceNow as AI disruption threatens enterprise software spending budgets

Business2 sources

Amazon's AI chip business hits $20 billion run rate as Jassy hints at external sales

Amazon revealed its custom chip business generates over $20 billion annually, growing at triple-digit rates. CEO Andy Jassy disclosed in his shareholder letter that AWS AI revenue reached a $15 billion run rate in Q1 2026, while defending the company's $200 billion capital expenditure plan. The tech giant may soon sell its Trainium and Graviton chips directly to third parties.

Business14 sources

Amazon's AI chip business hits $20 billion run rate as Jassy hints at external sales

Business14 sources

OpenAI projects $100 billion advertising revenue by 2030 as ChatGPT ads pilot hits $100M

OpenAI has generated $100 million in annual recurring revenue from ChatGPT ads in just two months, signaling a major shift in its business model. The company projects advertising revenue will skyrocket to $100 billion by 2030, assuming it reaches 2.75 billion weekly users. But the move risks alienating users who value AI chatbots as impartial tools, while competitor Anthropic pledges to keep Claude ad-free.

Business5 sources

OpenAI projects $100 billion advertising revenue by 2030 as ChatGPT ads pilot hits $100M

Business5 sources

Oracle appoints Hilary Maxson as CFO to steer $50 billion AI infrastructure expansion

Oracle has named Hilary Maxson, former CFO of Schneider Electric, as its new chief financial officer effective April 6, 2026. Maxson takes charge as Oracle commits $50 billion in capital expenditure this fiscal year to expand its AI data center footprint. The appointment reinstates a crucial position after a six-month gap and signals Oracle's shift from enterprise software to AI cloud infrastructure at scale.

Business3 sources

Oracle appoints Hilary Maxson as CFO to steer $50 billion AI infrastructure expansion

Business3 sources

Jamie Dimon predicts AI will shrink workweeks to 3.5 days as JPMorgan invests billions in tech

JPMorgan CEO Jamie Dimon envisions a future where AI enables a 3.5-day workweek within 30 years, driven by productivity gains. In his annual shareholder letter, he acknowledges AI will eliminate some jobs but emphasizes the technology's potential to cure diseases and improve quality of life. JPMorgan is investing nearly $20 billion in technology, including AI infrastructure, as Dimon warns of short-term disruption and calls for retraining programs to prevent civil unrest.

Technology4 sources

Jamie Dimon predicts AI will shrink workweeks to 3.5 days as JPMorgan invests billions in tech

Technology4 sources

Meta forces top engineers into AI unit as 200 layoffs loom in Silicon Valley

Meta is mandating top software engineers join its new Applied AI Engineering unit while cutting 200 jobs in California. The moves signal a major shift toward AI-native operations, with CEO Mark Zuckerberg betting that AI agents will soon handle most development work. The company plans $115-135 billion in AI infrastructure spending this year.

Business4 sources

Meta forces top engineers into AI unit as 200 layoffs loom in Silicon Valley

Business4 sources

OpenAI faces internal turmoil as Sam Altman pushes IPO amid executive clashes and spending crisis

OpenAI is racing toward a potential IPO at an $852 billion valuation, but internal tensions are mounting. CEO Sam Altman wants to go public by Q4, while CFO Sarah Friar warns the company isn't ready. Executive departures, discontinued projects like Sora, and a bitter compute war with Anthropic reveal a company struggling to balance astronomical spending with revenue generation.

Business7 sources

OpenAI faces internal turmoil as Sam Altman pushes IPO amid executive clashes and spending crisis

Business7 sources

AI memory shortage to drive 625x demand surge by 2028 as PC hardware prices soar

Dell's CEO predicts total memory demand from AI will increase 625 times between 2022 and 2028, driven by expanding AI accelerator memory requirements and massive data center buildouts. The High Bandwidth Memory shortage is already forcing DRAM price increases exceeding 100%, with memory consuming 30% of hyperscaler spending in 2026—up from just 8% in 2023.

Business11 sources

AI memory shortage to drive 625x demand surge by 2028 as PC hardware prices soar

Business11 sources

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