Adani Nears $1.4 Billion Buyout of Jaiprakash in M&A Comeback
Adani Group leads the race among bidders to acquire the infrastructure developer with an unconditional bid of at least 120 billion rupees ($1.4 billion), according to people familiar with the bidding process who did not want to be named as the details are private.
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Yahoo
17 minutes ago
- Yahoo
AI demand expected to boost electronics giant Foxconn's second-quarter profit
By Wen-Yee Lee TAIPEI (Reuters) -Taiwan's Foxconn, the world's largest contract electronics maker, is expected to report on Thursday that second-quarter profit rose 14% on continued strong demand for artificial intelligence servers. Net profit for April-June for Apple's top iPhone assembler and Nvidia's server maker likely came in at T$39.8 billion ($1.33 billion), up from T$35.05 billion a year earlier. Foxconn, formally called Hon Hai Precision Industry, last month reported record second-quarter revenue on strong demand for AI products but cautioned about geopolitical and exchange rate headwinds. Global trade uncertainty could dim the prospects for its outlook this year, as it has a major manufacturing presence in China, though Washington and Beijing this week extended a tariff truce for another 90 days. Most of the iPhones Foxconn makes for Apple are assembled in China, but the bulk of those sold in the United States are now produced in India. The company is also building factories in Mexico and Texas to make AI servers for Nvidia. In its July sales report, Foxconn said while the third quarter should see on-year growth - the company does not provide numerical guidance - the impact of "evolving global political and economic conditions" would need continued close monitoring. Foxconn has also been looking to expand its footprint in electric vehicles, which the company sees as a major future growth generator, though that has not always gone smoothly. Earlier this month, Foxconn said it had struck a deal to sell a former car factory at Lordstown, Ohio, for $375 million, including its machinery, but said it would continue to use the site to make a broader range of products aligned with its strategic priorities. Foxconn has expanded beyond its traditional role as an iPhone assembler in other areas too. Last month it formed a strategic partnership with industrial motor maker TECO Electric & Machinery to build data centres. Foxconn holds its earnings call at 3 p.m. (0700 GMT) in Taipei on Thursday, where it will also update its outlook for the year. Foxconn's shares have risen 7.9% so far this year, outperforming the broader Taiwan index's 5.8% gain. ($1 = 30.0020 Taiwan dollars) 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
Forbes
19 minutes ago
- Forbes
Palo Alto Networks Completes Its Platform Play With CyberArk Deal
On the heels of a new partnership with identity and access management leader Okta, Palo Alto Networks surprised the tech industry with its recent announcement to acquire identity stalwart CyberArk for an eye-opening $25 billion. If approved by regulators, this deal represents a massive combination of two highly successful and mature cybersecurity infrastructure providers. This opens up a discussion about the value of identity management, what this tie-up could produce both short and long term and how customers might benefit. With that context set, let's dive in. (Note: Palo Alto Networks is an advisory client of my firm, Moor Insights & Strategy.) The Value Of Identity And Privileged Access Management Identity and access management provides a critical control point that weaves together policy, provisioning and lifecycle management, ensuring that users are authenticated to specific resources while blocking the occurrence of malicious lateral movement across networks. Privileged access management takes identity frameworks to higher levels of security, infusing least-privileged-access and zero-trust principles to safeguard access to high-value digital assets. Together, IAM and PAM serve to reduce attack surfaces, secure session activity, improve security posture, provide audit trails and ensure compliance. By all measures, identity is the new hack. It is estimated that an overwhelming majority of data breaches today are a result of stolen or compromised credentials. To address this challenge, a plethora of infrastructure providers including Cisco, CyberArk, IBM, Microsoft, Okta, SailPoint and others offer viable solutions. I have written about many of these companies in the past, highlighting their perceived strengths and weaknesses. I seldom call out an absolute winner, but Palo Alto Networks' decision to acquire CyberArk is interesting for two reasons. First, CyberArk has a strong reputation in PAM, as well as in securing identity across human users and machines. To this end, the company provides workforce password, secrets and endpoint privilege management. Second, CyberArk has experienced high annualized recurring revenue growth over the last two years, nearly doubling its top-line revenue to more than $1 billion at the end of last year. Given CyberArk's portfolio depth and hypergrowth, it is not surprising that it would be attractive to Palo Alto Networks. A New Category For Palo Alto Networks Palo Alto Networks has become one of the largest cybersecurity infrastructure providers in the world. Many pundits, including myself, attribute the company's achievements to a platform approach in delivering security services. I have written about this concept on many occasions, highlighting the power of a platform to consolidate disparate tools to address sprawl, improve security and networking operational efficiency and deliver optimized business outcomes. I also continue to spend considerable time with chief executive Nikesh Arora and his leadership team, and I appreciate their vision for the company to serve as a trusted advisor and provide the right balance of solutions that do not burden customers with a plethora of incremental licensing. The timing of the company's acquisition of CyberArk is not surprising to me. It represents a net-new category entry with significant revenue and profitability upside. Last year, the combined total addressable markets for IAM and PAM were estimated to be just shy of $25 billion. Palo Alto Networks should be able to capitalize and take market share based on a demonstrated history of category leadership realized through its organic solution development efforts and its history of successfully integrating acquisitions. What I also like about the CyberArk acquisition is its potential to serve as a foundation for Palo Alto Networks' Cortex AgentiX agentic AI framework — previewed at RSA Conference earlier this year — to manage agent and machine-to-machine interactions. The framework promises to provide enterprise-grade security, enable intuitive human-AI interaction and massively scale automation using AI. The company's Prisma Access Browser also provides another layer of protection for the safe use of generative AI applications, ensuring that data is protected and that only sanctioned applications are used. In my RSA Conference event wrap-up piece this year, I highlighted my biggest takeaway that the provisioning and identity management of super agents and task agents represents one of the most important aspects of agentic AI's adoption and longer-term success. This is an area where CyberArk's expertise should be a big winner. By my estimation, Palo Alto Networks is well positioned to capitalize on that. Grading The CyberArk Acquisition The $25 billion acquisition of CyberArk represents a significant step forward to allow Palo Alto Networks to complete its cybersecurity platform play. CEO Arora points to three benefits of the transaction — accelerating the company's platform strategy, disrupting the legacy IAM market and securing agentic AI. From my perspective, these are all reasonable assumptions and point to an opportunity for Palo Alto Networks to further its success and capitalize on the modern AI gold rush.
Gizmodo
an hour ago
- Gizmodo
U.S. Allegedly Super-Charged Its Efforts to Prevent China From Getting American Chips
The Trump administration has made curbing China's access to high-powered AI chips a high priority. According to the government, China may use the chips to build up its arsenal of military technology, and it simply can't have that. At the same time, America's considerable and longstanding chip export controls may also be aimed at slowing China's own chip industry. Now, a report from Reuters claims that the government has been embedding location tracking devices in AI chip shipments, in an effort to police potential diversions of the tech to America's geopolitical foe. Reuters reports that sources with knowledge of the policy claim that the U.S. Department of Commerce's Bureau of Industry and Security, America's export enforcement agency, is 'typically involved' with such operations. Those same sources claim that the FBI and Homeland Security Investigations 'may take part too.' Gizmodo reached out to the agencies and the Trump administration for comment. The tracking devices are reportedly being placed in 'targeted shipments' of AI chips. Those shipments are being chosen because authorities view them as being at 'high risk of illegal diversion to China.' The point of the trackers is to punish companies or individuals who may violate U.S. export controls. Sources also said that the trackers have been used in server shipments from prominent manufacturers, including Dell and Super Micro, which include chips made by AMD and Nvidia. An Nvidia spokesperson told Gizmodo, 'We don't install secret tracking devices in our products,' full stop. They also referred us to a recently published company blog that states: 'There are no back doors in NVIDIA chips. No kill switches. No spyware. That's not how trustworthy systems are built — and never will be.' The 'chip war' has, to some degree, always been a thing, and governments, particularly the U.S., have always fought for a competitive advantage when it comes to the semiconductor industry. The advent of the AI chip has only upped the ante, as nations fight for dominance over the emerging field of generative AI, and all the potential applications (military included) it may have. At the same time, the Trump administration has sent mixed messages on this issue, as Trump recently claimed he would be open to allowing Nvidia to sell a 'scaled-down' version of its GPU chip to China. The American practice of embedding hidden, Trojan-horse-style surveillance applications inside commercial hardware and software exports is also not new. When the Edward Snowden revelations originally broke in 2014, one of the bombshells at the time was the apparent revelation that the NSA routinely embeds 'backdoor surveillance tools' inside routers and other computer hardware before they are sent on to foreign nations.
