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Brazils oil regulatory agency predicts that the countrys oil production will peak in 2033, reaching a maximum of 506,000 barrels per day.December 9th – European Commission Competition Chief Theresa Rivera stated that the EU needs to allocate more resources to its antitrust department to effectively regulate the worlds most influential tech giants. She made these remarks at a conference in Brussels, coinciding with the EUs announcement of an investigation into Google regarding how it uses publisher content to train its artificial intelligence tools. Earlier this month, the EU also launched an investigation into Meta, whose new policies prohibit competitors AI services from accessing WhatsApps business user functions while deeply integrating its own Meta AI into the platform. "I think we need to strengthen our team," Rivera said. "We have tried to work with existing resources, but we have also formally applied for additional staff and budget to expand the team."ADP Weekly Employment Report: In the four weeks ending November 22, private sector employers added an average of 4,750 jobs per week.On December 9th, Li Auto announced that it will launch a Level 4 autonomous driving vehicle within three years. This provides a clear and positive response to market speculation about "cars without drivers seats appearing within the next 3 to 5 years." According to the companys plan, Li Auto will launch its first Level 4 autonomous driving vehicle around 2028. Li Xiang, Chairman and CEO of Li Auto, even further envisioned that by 2030, there is a 50% probability that the company will launch an AI-powered supercar. This demonstrates that Li Auto not only has a clear plan for the future trend of "cars without drivers seats," but also full of confidence and anticipation. The company believes that the realization of Level 4 autonomous driving will be the true "iPhone 4 moment" for the automotive industry, triggering a profound industrial revolution.Microsofts CEO announced on the X platform that Microsoft will invest $17.5 billion to support AI development in India.

Samsung Elec announces a higher Q2 profit owing to solid server-chip demand

Charlie Brooks

Jul 07, 2022 11:18


Samsung Electronics (OTC:SSNLF) Co Ltd announced its greatest April-through-June profit since 2018 with an 11 percent year-over-year gain, as demand for its memory chips from server customers more than offset decreased sales to smartphone manufacturers due to inflation.


The world's leading memory chip and smartphone manufacturer stated Thursday that its second-quarter operating profit grew to 14 trillion won ($10.73 billion) from 12.57 trillion won a year earlier.


It was quite close to Refinitiv's SmartEstimate of 14,45 trillion won.


In agreement with market estimates, Samsung (KS:005930) announced in a short earnings report that sales likely climbed by 21 percent year-over-year to 77 trillion won.


This month, Samsung will provide detailed financial results.


Large U.S. IT companies that rely heavily on data center services continued to acquire chips to meet cloud demand, insulating Samsung's chip revenue from a potential client oversupply after two years of high demand.


According to the data source TrendForce, the price of some DRAM chips, which are utilized in electronic devices and servers, decreased by around 12 percent last month compared to the same time period one year prior. As demand for smartphones and laptops decreases, analysts believe that prices will continue to fall.


"Server DRAM is currently the only feasible sales channel... As a result, Korean manufacturers were the first to signal a willingness to contemplate a quarterly price cut of more than 5 percent (for server goods) "DRAMS," according to TrendForce.


According to TrendForce, the costs of NAND Flash chips, which are used in electronic devices for data storage, are projected to decline by as much as 5 percent between July and September compared to the previous quarter.


Following two profitable pandemic years in which customers purchased devices for remote work, chipmakers throughout the globe are observing a fall in demand.


According to analysts, rising prices, worries of a dramatic market collapse, the Ukraine war, and China's COVID-19 lockdowns have hampered smartphone sales, leaving server chip demand as the only bright light.


During morning trade, the price of Samsung's stock jumped by 0.9%.


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