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Amazon Plans $13 Billion Investment in Australia Data Centers

Amazon Plans $13 Billion Investment in Australia Data Centers

Bloomberg18 hours ago

Amazon.com Inc. plans to invest A$20 billion ($13 billion) in Australia between this year and 2029 to develop its data-center infrastructure.
The commitment would support the growth in demand in Australia for cloud computing and AI, for which it would speed up adoption and capability, Amazon said in a statement.

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Billionaires Are Selling Nvidia and Betting on This AI Stock That's Climbed Nearly 300% Over the Past 3 Years
Billionaires Are Selling Nvidia and Betting on This AI Stock That's Climbed Nearly 300% Over the Past 3 Years

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time31 minutes ago

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Billionaires Are Selling Nvidia and Betting on This AI Stock That's Climbed Nearly 300% Over the Past 3 Years

Artificial intelligence chip designer Nvidia has been popular among billionaires in recent years, and its stock has soared more than 1,000%. Now, some of these billionaires are looking to another company that's investing significantly in AI. 10 stocks we like better than Meta Platforms › Nvidia (NASDAQ: NVDA) has been a no-brainer choice for investors aiming to win in the artificial intelligence (AI) market. The stock has soared 1,500% over the past five years as this AI chip leader delivered quarter after quarter of record revenue growth -- and this story is far from over. Nvidia's market dominance and innovation should help it to benefit as the AI boom continues. But some billionaires have decided to move on, selling some or all of their Nvidia shares and focusing on other potential AI winners. For example, Stanley Druckenmiller of the Duquesne Family Office sold all his Nvidia shares in the third quarter of last year. Just recently, David Tepper of Appaloosa and Philippe Laffont of Coatue Management cut their positions in Nvidia. As some investors reduce exposure to the top chipmaker, another AI stock, one that's climbed nearly 300% over the past three years, is emerging as an investor favorite. Let's check it out. The stock I'm talking about is among the top five stock holdings of Tepper, and it's the No. 1 stock holding of Laffont, as well as fellow billionaires Chase Coleman of Tiger Global Management and Stephen Mandel Jr. of Lone Pine Capital. Ole Andreas Halvorsen of Viking Global Investors is also bullish on this stock, opening a position in the first quarter of this year. This player that's been much sought after by billionaires in recent times is Meta Platforms (NASDAQ: META), a company you are probably very familiar with thanks to its social media dominance. Meta owns Facebook, Messenger, Instagram, and WhatsApp -- more than 3.4 billion people worldwide use at least one of these apps daily. Here's how billionaires Tepper, who oversees $8.3 billion, and Laffont, who manages $22 billion, took action on Nvidia and Meta in the first quarter: Tepper sold 55% of his Nvidia stock and now holds 300,000 shares. He increased his Meta position by 12% to 550,000 shares. It's his fifth-biggest stock position. Laffont cut his Nvidia position by 14% to 8,545,835 shares. He lifted his Meta position by 1.9% to 3,757,611 shares. As mentioned above, Meta is the biggest position in his portfolio. Considering these moves and Meta's top spot in the portfolios of other billionaires, it's clear these expert investors see the company as a potential winner in the AI revolution. You may be wondering why this is the case, given that Meta is best known for its strengths in the social media industry. Well, Meta has also been building AI expertise in the form of its own large language model (LLM), Llama, to power innovations that may ensure its leadership in social media -- and, therefore, revenue growth. Here's how that works. Meta generates the lion's share of its revenue from advertisers across its social media apps. And through tools like AI assistants, Meta aims to keep us spending more time on the apps, prompting advertisers to pour more investment into advertising there to reach us. Meta AI, the company's current offering, is currently the world's most widely used AI assistant. On top of this, Meta's innovations in AI could lead to other products and services that boost revenue down the road. Meta clearly believes in the saying "go big or go home," as the company expects to reach as much as $72 billion in capital spending this year to support its AI ambitions. Now the question is: Should you follow the billionaires and buy shares of Meta? The stock trades for 27 times forward earnings estimates, making it more expensive than it was a couple of months ago when it fell to less than 20 times expected earnings. But this remains a reasonable valuation for a growth stock, particularly a profitable, well-established player that offers a secure revenue stream and even dividend payments. The next question is, in the AI boom, should you favor Meta over Nvidia? Investors who have already won on their Nvidia investment over time, such as certain billionaires, may rotate out of the stock and into Meta. Ramping up its AI investment, Meta could be well positioned to deliver gains in the quarters to come. Meta is also slightly cheaper than Nvidia, which today trades for 33 times forward earnings estimates. So, if you don't have any Meta shares yet, you may want to get in on this exciting story -- but you don't necessarily have to forget about Nvidia. The best strategy may be to hold shares of both of these AI leaders as the AI boom enters its next chapter. Before you buy stock in Meta Platforms, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the for investors to buy now… and Meta Platforms wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $653,702!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $870,207!* Now, it's worth noting Stock Advisor's total average return is 988% — a market-crushing outperformance compared to 172% for the S&P 500. Don't miss out on the latest top 10 list, available when you join . See the 10 stocks » *Stock Advisor returns as of June 9, 2025 Randi Zuckerberg, a former director of market development and spokeswoman for Facebook and sister to Meta Platforms CEO Mark Zuckerberg, is a member of The Motley Fool's board of directors. Adria Cimino has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Meta Platforms and Nvidia. The Motley Fool has a disclosure policy. Billionaires Are Selling Nvidia and Betting on This AI Stock That's Climbed Nearly 300% Over the Past 3 Years was originally published by The Motley Fool

Amazon Signs 141,000 Square Foot We Work Lease In Silicon Valley Amid Relentless Expansion And Back To Work Mandate
Amazon Signs 141,000 Square Foot We Work Lease In Silicon Valley Amid Relentless Expansion And Back To Work Mandate

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time36 minutes ago

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Amazon Signs 141,000 Square Foot We Work Lease In Silicon Valley Amid Relentless Expansion And Back To Work Mandate

Benzinga and Yahoo Finance LLC may earn commission or revenue on some items through the links below. Amazon's (NASDAQ:AMZN) office expansion knows no bounds. Fresh from expanding its presence in New York, the tech giant announced it is growing its presence in Silicon Valley by teaming up with WeWork (NYSE:WE) to add 141,000 square feet of office space to accommodate its return-to-office mandate, CoStar News reports. The new offices are located at 4980 Great America Parkway in Santa Clara, California, in a building that Amazon will occupy in its entirety as part of its effort to have its workforce return to a five-day-per-week in-office work schedule. 'We're constantly evaluating our office footprint based on the needs of Amazon's businesses,' an Amazon spokesperson told CoStar News. Don't Miss: Maker of the $60,000 foldable home has 3 factory buildings, 600+ houses built, and big plans to solve housing — Peter Thiel turned $1,700 into $5 billion—now accredited investors are eyeing this software company with similar breakout potential. Learn how you can WeWork has been a constant collaborator with Amazon, and the most recent deal follows similar arrangements the two companies have made recently, CosStar reports. At 330 W. 34th St. in New York and at 401 San Antonio Road in Mountain View, California, WeWork signed an office lease before Amazon moved in. 'So if we look at it and just take today's environment with all the uncertainty around tariffs and what's happening, who's prepared to commit to a 10- or a 15-year lease with $50 or $100 million spend?' WeWork CEO, John Santora, said of the arrangement with Amazon and other companies at a recent summit. 'You have to think about it. You have to think whether or not to invest that major capital in a market, at least through this short term. You have to step back,' he told Bloomberg. Trending: Invest Where It Hurts — And Help Millions Heal: While back-to-work mandates have been popular amongst many major corporations this year, Amazon has struggled to implement their's due to a lack of office space. Workers in Dallas, Phoenix, Atlanta and New York had their deadlines to return to the office pushed back four months while Amazon acquired more space. Amazon CEO Andy Jassy told employees in September that returning to an in-office work regimen was vital because 'collaborating, brainstorming and inventing are simpler and more effective.' 'If it's not for you, then that's OK. You can go and find another company if you want to. But for us, that's what we've decided is the best way to operate our company,' Amazon Web Services CEO Matt Garman said at a Wall Street Journal event in return-to-office push has not been without its complications, with parking space and commuting being among the complaints from former remote workers, the Journal reported. 'While we've heard ideas for improvement from a relatively small number of employees and are working to address those, these anecdotes don't reflect the sentiment we're hearing from most of our teammates,' a company spokeswoman told the Journal in February. 'What we're seeing is great energy across our offices.' On June 9 Pennsylvania Gov. Josh Shapiro announced that Amazon planned to invest 'at least $20 billion to establish multiple high-tech cloud computing and artificial intelligence (AI) innovation campuses across the Commonwealth of Pennsylvania.' The push would create 'at least 1,250 high-paying, high-tech jobs. Salem Township and Falls Township are the first communities identified as sites for these future campuses,' he said in a statement. It marks the largest capital investment in the commonwealth's history. Read Next: With Point, you can Deloitte's fastest-growing software company partners with Amazon, Walmart & Target – Image: Shutterstock This article Amazon Signs 141,000 Square Foot We Work Lease In Silicon Valley Amid Relentless Expansion And Back To Work Mandate originally appeared on Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data

AMD CEO Su turns heads with comments at AI event
AMD CEO Su turns heads with comments at AI event

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time41 minutes ago

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AMD CEO Su turns heads with comments at AI event

AMD CEO Su turns heads with comments at AI event originally appeared on TheStreet. Lisa Su has seen the future and she wants to tell you all about it. The chairwoman and CEO of Advanced Micro Devices () took the stage at the chipmaker's "Advancing AI" developers conference to give the attendees an idea of what's next. 💵💰Don't miss the move: Subscribe to TheStreet's free daily newsletter 💰 "At AMD, we're really focused on pushing the boundaries of high performance and adaptive computing to help solve some of the world's most important challenges," Su said during her keynote address. "Frankly, computing has never been more important in the world. "I'm always incredibly proud to say that billions of people use AMD technology every day, whether you're talking about services like Microsoft Office 365 or Facebook or Zoom or Netflix or Uber or Salesforce or SAP and many more running on AMD infrastructure." Su said her company's latest AI processors can challenge Nvidia's () chips in a market she now expects to soar past $500 billion in the next three years, according to Bloomberg. The new installments in AMD's MI350 chip series are faster than Nvidia's counterparts and represent major gains over earlier versions, Su said at a company event Thursday in San Jose, Calif. The MI355 chips, which started shipping earlier this month, are 35 times faster than predecessors, she said. Though AMD remains a distant second to Nvidia in AI accelerators — the chips that help develop and run artificial intelligence tools — it aims to catch up with these new products. More Tech Stocks: Palantir gets great news from the Pentagon Analyst has blunt words on Trump's iPhone tariff plans OpenAI teams up with legendary Apple exec The stakes are higher than ever: Su previously predicted $500 billion in market revenue by 2028, but she now sees it topping that number. 'People used to think that $500 billion was very large number,' she said in a briefing following her presentation. 'Now it seems well within grasp.' In February, AMD's forecast for its data center business reflected slower growth than some analysts predicted. AMD says the new update to its MI range will restore momentum and prove it can go toe to toe with a much bigger rival. AMD said that the MI355 outperforms Nvidia's B200 and GB200 products when it comes to running AI software and equals or exceeds them when creating the code. Purchasers will pay significantly less than they would versus Nvidia, AMD said. Nvidia did not immediately respond to a request for comment. AMD, like Nvidia, is restricted from shipping its most powerful components to China under U.S. trade curbs. The company is lobbying hard to try to get the Trump administration to allow them to freely offer AI components to other countries. AMD shares are down 4.1% this year and off nearly 28% from a year ago. Several investment firms issued research reports following AMD's "Advancing AI" event, including Evercore ISI analyst Mark Lipacis, who raised his price target on the company to $144 from $126 and affirmed an outperform rating on the shares. The AI event indicated that AMD is making progress on the ROCm software stack as well as in penetrating hyperscalers' internal inferencing workloads, the analyst tells investors. The hyperscalers are the major providers of cloud infrastructure and services. The AMD Instinct customer list expanded from Meta Platforms () , Oracle () and Microsoft () to OpenAI, xAI, Cohere, RedHat IBM's () software subsidiary, and Humain, said Lipacis. He says that increased visibility into AMD's data-center graphics-processing units warrants a higher price-to-earnings multiple. Yahoo Finance calculates the forward p/e at just under 30 for AMD and under 34 for Capital analyst Suji Desilva raised the firm's price target on AMD to $150 from $125 following AMD's AI event and affirmed a buy rating on the shares. The analyst said he was encouraged by AMD's artificial intelligence portfolio progress across processors, AI GPUs, networking, software and rack systems. Desilva said he expected faster 2026 growth with the ramp of the MI350 accelerator-based Helios rack solution. AMD sees the addressable market growing faster than previously expected, with AI inferencing and agentic AI trending as growth drivers on top of "significant" AI training investment to date, the analyst tells investors in a research note. Citi analyst Christopher Danely maintained a neutral rating on AMD with a $120 price target after the "Advancing AI" event and the launch of its latest artificial intelligence chip, the MI355X. He noted that AMD raised the AI total addressable market and announced a new customer, xAI, but it did not provide a revenue forecast for its AI business, which would benefit the CEO Su turns heads with comments at AI event first appeared on TheStreet on Jun 15, 2025 This story was originally reported by TheStreet on Jun 15, 2025, where it first appeared. Sign in to access your portfolio

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