Business

(Reuters) – Oracle CEO Safra Catz said that the company’s large sales backlog will help drive 15% growth in its revenue next fiscal year, surpassing analysts’ current estimates as it expands its artificial intelligence cloud services. Analysts expect revenue growth for its fiscal 2026 to be 12.6%, according to data compiled by LSEG. Shares of the Austin, Texas-based company rose 2% in extended trading. Oracle, which has been a latecomer to a cloud market dominated … Read more…

By Stephen Nellis (Reuters) – Some artificial intelligence improvements to Apple’s voice assistant Siri will be delayed until 2026, the company said on Friday. In a statement, Apple said it has “been working on a more personalized Siri, giving it more awareness of your personal context, as well as the ability to take action for you within and across your apps. It’s going to take us longer than we thought to deliver on these features … Read more…

(Reuters) – Elon Musk-owned artificial intelligence firm xAI has bought a 1-million-square-foot property in Southwest Memphis, Tennessee, the Greater Memphis Chamber said on Friday, as the startup looks to expand its AI infrastructure amid intensifying competition in the industry. The new investment builds on the company’s earlier announcement in December, in which it laid out plans to expand its Colossus supercomputer to house at least one million graphics processing units (GPUs) in the state. Colossus … Read more…

By Manya Saini (Reuters) -Nasdaq Inc plans to introduce 24-hour trading on its flagship U.S. exchange to capitalize on growing global demand for U.S. equities, a senior executive said in a social media post on Friday. International demand for the lucrative U.S. equity market has surged in recent years, driven by rising retail participation, increasing financial literacy, and easier access to digital trading platforms. The exchange operator has started discussions with regulators and expects to … Read more…

BARCELONA (Reuters) – Chinese artificial intelligence firm iFlyTek is planning to expand its European business as trade tensions rise between the United States and China, Vice President Vincent Zhan said. “The U.S. and China trade war has some impact for us,” Zhan said in an interview on the sidelines of the Mobile World Congress in Barcelona this week, adding that North America is the company’s largest market outside China in terms of demand. Zhan said … Read more…

(Reuters) -Reddit on Thursday launched tools aimed at helping people adhere to community rules and better understand content performance, its latest step to boost engagement on the platform. The announcement follows a recent slowdown in quarterly user growth due to a change in Google’s algorithm that impacted traffic from the search engine. The traffic from Google has, however, recovered, CEO Steve Huffman said last month. Like its rivals, including Meta , Reddit has been investing … Read more…

By Jonathan Stempel (Reuters) – The North Carolina lender that bought much of Silicon Valley Bank following its March 2023 seizure was sued for trademark infringement on Wednesday by the collapsed bank’s former parent. SVB Financial Trust said First Citizens BancShares never acquired or got permission to use the Silicon Valley Bank name, chevron logo, svb.com domain name and “Make Next Happen Now” slogan when it bought many of the bank’s assets at a discount, … Read more…

(Reuters) – Tesla is going to build a new megafactory near Houston to operate a battery storage facility, Electrek reported on Wednesday, citing a tax abatement agreement with Waller County in Texas. The electric vehicle company is going to build and manage its Megapack energy products in over a 1-million-square-foot building near Katy, Texas, according to the report. Under the tax agreement, the company will receive abatements from the county based on property upgrades, including … Read more…

(Reuters) -Apple on Wednesday unveiled new MacBook Air models with latest M4 chip and artificial-intelligence features at a price $100 lower than the previous generation, as the company looks to spur sales and persuade customers to upgrade their devices. The base version of the new series of laptops with the 13-inch screen will be priced at $999, while the 15-inch MacBook Air will start at $1,199. Pre-orders will begin on Wednesday and the devices will … Read more…

(Reuters) – Elon Musk’s satellite company SpaceX said Wednesday its Starlink unit has no intent to take over any Federal Communications Commission telecommunications contract, rejecting media reports. “Starlink is a possible partial fix to an aging system. There is no effort or intent for Starlink to ‘take over’ any existing contract,” SpaceX wrote on X. “SpaceX is working with L3Harris and the FAA to identify instances where Starlink could serve as a long-term infrastructure upgrade … Read more…