|
|
2 | SK Hynix--a South Korean supplier of dynamic random-access memory (DRAM) chips and flash memory chips--reported its second straight quarterly loss due to a 60% drop in revenues. Despite that, the company's C.F.O. indicated that the worst may be over for the memory chip industry, with sales expected to rebound in Q2 2023 and memory market conditions to improve from the second half of the year. Hynix's losses reflect the decline in the global memory industry, which has seen a significant inventory buildup. Still, the positive outlook is partly due to Samsung's decision to cut memory production to ease the glut.
|
|
3 | Microsoft reported its financial results for Q3 2023, which reflected better-than-expected quarterly profits and sales driven by resilient demand for corporate cloud computing and AI services. The company's AI endeavors, in collaboration with OpenAI, have seen promising initial customer demand, with the Azure OpenAI service increasing tenfold in customers and the AI-powered Bing search engine experiencing an uptick in usage.
|
|
4 | Salesforce Inc.'s Chief Business Officer Ebony Beckwith, a 14-year veteran of the company, is leaving the company and will be replaced by former Okta Inc. Chief Marketing Officer Kendall Collins. The move comes amid a wave of executive departures but has not impacted investors' confidence in the company's plan to improve profit margins. |
|
5 | EdgeConneX, a global data center provider, is building its third data center in Israel, which will have 7.5MW of IT capacity, to complement the company's existing data centers in Herzliya and Petah Tikva, bringing the total capacity to 14.5MW. The new facility will offer "extensive fiber and peering options" and access to local & international internet service providers. |
|
6 | YouTube changed its methodology for creators' product releases, allowing them to release products during their live streams--rather than having to post them before the livestream--creating anticipation and keeping their product drops a secret. The initiative by YouTube aims to cash in on the live shopping craze and provide a seamless shopping experience not found on other U.S.-based apps. |
|
7 | AtlasEdge, a European Edge data center company, has secured a new $800M credit facility to fund further strategic mergers and acquisitions and build new sites throughout Europe’s key markets. The financing package includes sustainability-linked targets focused on efficiency and renewable energy usage and was underwritten by a consortium of banks, including ING Bank, the Bank of Nova Scotia, and Banco Santander. |
|
