Musk's X back up after brief outage
Th outage eased to nearly 600 incidents of people reporting issues with the social media platform as of 11:20 a.m. ET, compared to a peak of more than 18,000 user reports, according to Downdetector.
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Al Arabiya
8 hours ago
- Al Arabiya
Musk's X back up after brief outage
Elon Musk's X was back up for thousands of users in the US after a short outage on Thursday, according to tracking website Th outage eased to nearly 600 incidents of people reporting issues with the social media platform as of 11:20 a.m. ET, compared to a peak of more than 18,000 user reports, according to Downdetector.
Asharq Al-Awsat
19 hours ago
- Asharq Al-Awsat
‘Micron Technology' Raises Forecast for Fourth-Quarter Revenue, Profit
Micron Technology on Monday raised its forecast for fourth-quarter revenue and adjusted profit, banking on surging demand for its memory chips used in artificial intelligence infrastructure, sending its shares up about 5% before markets closed. Semiconductor makers such as Micron have seen a surge in orders for their high-bandwidth memory (HBM) chips due to their intensive data-processing capabilities, as large tech firms ramp up AI data center investments, according to Reuters. The company now expects quarterly revenue of $11.2 billion, plus or minus $100 million, compared with its previous forecast of $10.7 billion, plus or minus $300 million. Micron also nudged up its adjusted gross margin forecast to 44.5%, plus or minus 0.5%, for the fourth quarter, compared with its prior expectation of 42%, plus or minus 1%. The company said the revised forecast reflects improved pricing, particularly for dynamic random access memory or DRAM products. Supply constraints in HBM production and strong AI demand have enabled Micron to command higher prices for its products, representing a shift where historically memory chipmakers had to accept thinner margins, eMarketer analyst Jacob Bourne said. Reuters exclusively reported on Monday Nvidia supplier SK Hynix sees the market for specialized AI memory chips growing 30% a year until 2030. The imposition of a 100% tariff on some chips imported into the US could hit growth, but the duties will not apply to companies manufacturing in the country or have committed to do so. In June, Micron said it is expanding its US investments by $30 billion, totaling $200 billion. Micron expects adjusted fourth-quarter earnings of $2.85 per share, plus or minus 7 cents, compared with its earlier expectation of $2.50, plus or minus 15 cents.
Al Arabiya
21 hours ago
- Al Arabiya
Bitcoin hits record high with $124,000
Bitcoin hit a record high on Thursday during early Asian trading, surpassing $124,000, driven by favorable US legislation and a rise in US equities. The cryptocurrency rose above its previous July record, briefly exceeding $124,500 before retreating. US stocks ended higher Wednesday, with the S&P 500 index and the tech-heavy Nasdaq reaching new heights this week, contributing to the cryptocurrency's rise. Bitcoin's value has recently soared, fueled by US regulatory changes under US President Donald Trump, a strong backer of the crypto sector. Its price has also been boosted by large holders of cryptocurrency, referred to as 'whales'. 'The crypto market is enjoying a period of highly favorable fundamentals,' said Samer Hasn, senior market analyst at 'President Donald Trump has moved to end restrictions that previously prevented banks from doing business with companies flagged for reputational risk concerns, a category in which crypto firms were often unfairly placed,' he added. Trump may also be inclined to 'accelerate the integration of cryptocurrencies into the national financial system and lift additional restrictions, given his and his family's growing involvement in the sector', Hasn said. Trump's media group and Tesla, the electric carmaker owned by tech billionaire Elon Musk, are among an increasing number of companies buying huge amounts of bitcoin.
