Samsung's memory division tanks

 

1 Samsung reported its financial results for Q1 2023 on Thursday, registering an 86% year-over-year decline in net profit, driven mainly by an operating loss of $4.58B from its DS (Device Solutions) division, which includes its memory, foundry, and system sub-divisions. Samsung stockpiled chips during the COVID-19 pandemic, resulting in a glut of unsold chips and lower prices, but the company expects to recover in the second half of the year.

2 Microsoft launched its first set of data centers in Poland, which were also its first in Central and Eastern Europe. The investment will support Poland's technological development and help businesses in the country accelerate their digital transformations, contributing to the growth of the Polish Digital Valley.

3 Activision Blizzard C.E.O., Bobby Kotick, has criticized the C.M.A.'s decision to block Microsoft's $69B acquisition of the company, calling it "irrational." Mr. Kotick expressed his belief that the appeals process will work in their favor and that the deal will ultimately win approval.

4 Microsoft announced the rollout of Phone Link for iOS on Windows 11, enabling a connection between a Windows 11 PC and an iOS mobile device in 39 languages across 85 markets. Phone Link for iOS will offer basic iOS support for calls, messages, and access to contacts, allowing users to receive notifications on their Windows PC and choose which action to take.

5 Meta Platforms Inc. faces a fine and a ban on using unsafe contractual clauses for transatlantic data transfers following a decision by the Irish Data Protection Commission. The suspension order would only affect Facebook but could set a precedent for other companies that rely on similar data flows.

6 Microsoft warned that the legal uncertainty surrounding data transfers between the European Union and the U.S. could hurt its cloud services as the company and others grapple with adjusting to the E.U. Court of Justice's decision to ban an E.U.-U.S. pact regulating said data flows. Although a new agreement was negotiated between the E.U. and the U.S., it still awaits approval.

7 Meta spent $7.1B on capital expenditures in Q1 2023, primarily on data centers, servers, and networking equipment, as the company redesigns its data centers for AI workloads, focusing on generative AI. The company recently reported revenues of $28.65B and a net income of $5.71B for the quarter and continues to assess facilities consolidation and other initiatives while laying off staff.