OVHcloud teams up with Crayon to develop European data infrastructure
FILE PHOTO: The logo of French cloud computing company OVHcloud is seen on the company's building in Paris, France, January 25, 2023. REUTERS/Sarah Meyssonnier/File Photo
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The Star
23 minutes ago
- The Star
Soccer-FC Barcelona sells bonds, restructures stadium-revamp debt
A silhouette of a woman walks past behind a FC Barcelona's logo at Camp Nou stadium in Barcelona, Spain, March 24, 2016. REUTERS/Albert Gea MADRID (Reuters) -FC Barcelona said on Friday it was selling 424 million euros ($498 million) in bonds as part of a deal to restructure the debt it contracted for its Camp Nou stadium renovation that allows it to postpone the first repayment to 2033 from 2028. The Spanish football club had secured 1.45 billion euros ($1.70 billion) in financing in 2023 from 20 investors including Goldman Sachs and JP Morgan to overhaul its ageing stadium. The men's first team is scheduled to play a friendly at Camp Nou on August 10 in a partial reopening. The club said in a statement that Goldman Sachs, acting as financial adviser, had facilitated the restructuring of the 424-million-euro debt tranche, allowing the full debt to be repaid from 2033 to 2050. Under the original 2023 deal, the club had been due to pay back investors in progressive tranches - after five, seven, nine, 20, and 24 years. "The club is fulfilling the necessary steps to ensure a gradual and staggered repayment," FC Barcelona said. The average cost of the refinanced amount stands at 5.19%. Barcelona expects the modernised stadium to boost annual revenues by more than 200 million euros through sponsorship deals, naming rights, ticket sales, catering, VIP services, and events. ($1 = 0.8521 euros) (Reporting by Inti Landauro and Corina Pons; Editing by Hugh Lawson)
The Star
37 minutes ago
- The Star
Microsoft's next-gen AI chip production delayed to 2026, The Information reports
A view shows the Microsoft logo on the day of the Hannover Messe, one of the world's largest industrial trade fairs with this year's partner country being Canada, as both Canada and the European Union face new U.S. tariffs, in Hanover, Germany, March 31, 2025. REUTERS/Fabian Bimmer/File Photo (Reuters) -Microsoft's next-generation Maia AI chip is facing a delay of at least six months, pushing its mass production to 2026 from 2025, The Information reported on Friday, citing three people involved in the effort. When the chip, code-named Braga, goes into production, it is expected to fall well short of the performance of Nvidia's Blackwell chip that was released late last year, the report said. Microsoft had hoped to use the Braga chip in its data centers this year, the report said, adding that unanticipated changes to its design, staffing constraints and high turnover were contributing to the delay. Microsoft did not immediately respond to a Reuters request for comment. Like its Big Tech peers, Microsoft has focused heavily on developing custom processors for artificial intelligence operations and general purpose applications, a move that would help reduce the tech giant's reliance on pricey Nvidia chips. Cloud rivals Amazon and Alphabet's Google have both raced to develop chips in-house, customized for their specific needs with the goal of improving performance and reducing costs. Microsoft had introduced the Maia chip in November 2023, but has lagged its peers in ramping it up to scale. Google, meanwhile, has seen success with its custom AI chips - called Tensor Processing Units - and in April unveiled its seventh-generation AI chip designed to speed the performance of AI applications. Amazon in December also unveiled its next-generation AI chip Trainium3 that is set to be released late this year. (Reporting by Deborah Sophia in Bengaluru; Editing by Shailesh Kuber)
The Sun
37 minutes ago
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US-China deal speeds up rare earth exports from China
WASHINGTON: The United States and China have resolved issues surrounding shipments of rare earth minerals and magnets to the U.S., Treasury Secretary Scott Bessent said on Friday, ironing out a dispute that stalled a deal reached in May. As part of its retaliation against new U.S. tariffs, China suspended exports of a wide range of critical minerals and magnets, upending supply chains central to automakers, aerospace manufacturers, semiconductor companies and military contractors around the world. During U.S.-China trade talks in May in Geneva, Beijing committed to removing the measures imposed since April 2, but those critical materials were not moving as fast as agreed, Bessent said in an interview with Fox Business Network, so the U.S. put countermeasures in place. 'I am confident now that we -- as agreed, the magnets will flow,' Bessent said. Efforts to resolve the dispute included a phone call between U.S. President Donald Trump and Chinese President Xi Jinping which led to teams from both sides meeting again in London, as negotiators try to end a trade war between the world's biggest economies. Trump said on Thursday the United States had signed a deal with China the previous day, but did not provide details. A White House official said the United States has reached an agreement with China on how to expedite rare earth shipments to the U.S. 'The administration and China agreed to an additional understanding for a framework to implement the Geneva agreement' that involved expediting their shipments to the U.S., the official said on Thursday. China's commerce ministry said on Friday the two countries have confirmed details on the framework of implementing the Geneva trade talks consensus. It said China will approve export applications of controlled items in accordance with the law. It did not mention rare earths. China has dual-use restrictions in place on rare earths which it takes 'very seriously' and has been vetting buyers to ensure that materials are not diverted for U.S. military uses, according to an industry source. This has slowed down the licensing process. The Geneva deal faltered over China's curbs on critical minerals exports, prompting the Trump administration to respond with export controls of its own preventing shipments of semiconductor design software, aircraft and other goods to China. In early June, Reuters reported China had granted temporary export licenses to rare-earth suppliers of the top three U.S. automakers, according to two sources familiar with the matter, as supply chain disruptions began to surface. Later in the month, Trump said there was a deal with China in which Beijing would supply magnets and rare earth minerals while the U.S. would allow Chinese students in its colleges and universities. While the agreement shows potential progress following months of trade uncertainty and disruption since Trump took office in January, it also underscores the long road ahead to a final, definitive trade deal between the two economic rivals.
