Latest news with #ArtificialIntelligenceActionSummit
Yahoo
10 hours ago
- Business
- Yahoo
Brookfield Asset Management to invest $10bn in Sweden's AI Infrastructure
Brookfield Asset Management has announced an investment of up to Skr95bn ($10bn) to develop AI infrastructure development in Sweden. The investment will focus on a new AI centre in Strängnäs, Sweden, designed to support the country's national AI strategy. Brookfield has secured a land allocation agreement for approximately 350,000m², enabling the data centre site to expand its capacity from 300MW to 750MW. Brookfield described the facility as the first of its kind in Sweden and among the first in Europe. Brookfield Europe head Sikander Rashid said: 'We are pleased to extend our partnership with Sweden and support their ambitions to become a leading AI hub in Europe. 'To compete in the development of AI and realise its economic productivity, it is important to invest at scale in the infrastructure underpinning this technology.' Since entering the Swedish market in 2018, Brookfield has invested in telecom towers, renewable energy, social infrastructure, and logistics. Brookfield has allocated more than €100bn ($113.9bn) to digital infrastructure, renewable power, and semiconductor manufacturing worldwide. Earlier this year, the firm announced a €20bn ($22.7bn) infrastructure investment programme in France, including a €10bn ($11.3bn) commitment to the country's first AI factory, which will provide 1GW of new capacity and become Europe's largest AI infrastructure cluster. The investment, confirmed by a La Tribune Dimanche and news agency AFP, will primarily fund the construction of AI-focused data centres. The announcement forms part of a series of investments as world leaders and tech executives prepare for the Artificial Intelligence Action Summit in Paris, France. Brookfield Asset Management, headquartered in New York, manages $1tn in assets across renewable power and transition, infrastructure, private equity, real estate, and credit. "Brookfield Asset Management to invest $10bn in Sweden's AI Infrastructure" was originally created and published by Verdict, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
CNN
08-05-2025
- Business
- CNN
Trump axes controversial Biden-era restrictions on AI chip exports
President Donald Trump will rescind a set of Biden-era curbs meant to keep advanced technology out of the hands of foreign adversaries but that has been panned by tech giants. The move could have sweeping impacts on the global distribution of critical AI chips, as well as which companies profit from the new technology and America's position as a world leader in artificial intelligence. 'I vocally opposed this rule for months, and indeed, the ranking member and I together urge the Biden administration not to adopt it, and I'm very pleased that President Trump has now confirmed he plans to rescind it,' US Senator Ted Cruz (R-Texas) said during a Senate committee hearing to discuss AI regulation on Thursday. Cruz said he will soon introduce a new bill that 'creates a regulatory AI sandbox.' OpenAI CEO Sam Altman, AMD CEO Lisa Su, Microsoft vice chair and president Brad Smith and CoreWeave CEO Michael Intrator testified during the hearing. The curbs, which were set to take effect on May 15 and were introduced during the final days of former President Joe Biden's administration, sorted countries into three tiers subject to specific AI-related trade regulation. Those in the top tier, which include the United Kingdom, Spain, Japan, Germany and Ireland among other countries, face the least restrictions, while countries like China and Russia are in the tier with the strictest constraints. It's the countries that fall in between that have raised concern among critics like Microsoft. Microsoft's Smith wrote in February that countries that fall into this second bucket may look elsewhere for AI, potentially China. 'The unintended consequence of this approach is to encourage Tier Two countries to look elsewhere for AI infrastructure and services,' he wrote. 'And it's obvious where they will be forced to turn.' AI chip giant Nvidia has also publicly pushed back against the curbs. The Trump administration has pushed for less regulation around AI, with Vice President JD Vance saying that 'excessive regulation of the AI sector' could 'kill a transformative industry just as it's taking off' during remarks at the Artificial Intelligence Action Summit in Paris. Trump is also pushing for the US to be a leader in both the AI industry and in technology manufacturing, frequently touting vows from TSMC and Apple to expand their US infrastructure as victories. The year kicked off with the arrival of Chinese tech startup DeepSeek's supposedly cheap yet sophisticated AI model, shaking both Wall Street and Silicon Valley and escalating the US-China rivalry in AI. It grabbed headlines in January for the company's claims that its R1 model could roughly match OpenAI's o1 model for a fraction of the price, challenging the notion that powerful performance required costly investments. This story is developing and will be updated.
CNBC
06-05-2025
- Business
- CNBC
AMD earnings beat as overall sales surge by 36%
Lisa Su, CEO of AMD, attends the Artificial Intelligence Action Summit at the Grand Palais in Paris, Feb. 10, 2025. Advanced Micro Devices reported first fiscal quarter earnings on Tuesday that topped expectations, and provided a strong forecast for current quarter revenue. Shares of AMD rose in extended trading more than 4%. Here's how the chipmaker did versus LSEG expectations for the quarter ending March 29: Earnings per share : 96 cents adjusted vs. 94 cents expected : 96 cents adjusted vs. 94 cents expected Revenue: $7.44 billion vs. $7.13 billion expected For the current quarter, AMD expects about $7.4 billion in sales with a gross margin of 43% versus Wall Street estimates for earnings of 86 cents adjusted on $7.25 billion in sales. AMD's forecast also included $800 million in costs that the company said it would incur because the U.S. limited the export of some of the company's artificial-intelligence chips during the quarter. The company reported net income of $709 million, or 44 cents per diluted share, versus net income of $123 million, or 7 cents per share, during the year-earlier period. Revenue grew 36% on an annual basis. AMD is the second-place server central processing unit vendor, behind Intel , but its Epyc line of processors has been taking market share in recent years. The company is also the closest competitor to Nvidia for "big GPUs," or graphics processing units. Those are the kind of chips that are deployed in data centers by the thousands for building and deploying generative AI. It did $5 billion in AI GPU sales in the company's fiscal 2024. Both are reported in the company's data center segment, which came in at $3.7 billion in sales, topping a StreetAccount estimate. Data center sales were up 57% on an annual basis, which the company attributed to demand for both Epic processors as well as its Instinct GPUs. The company's other major segment, Client and Gaming, includes chips for consumer devices such as laptops, gaming PCs, and game consoles. The overall segment rose 28% on an annual basis to $2.9 billion. AMD said that sales for its laptop and PC chips, which it calls client revenue, surged 68% year-over-year because of strong demand for chips called Zen 5 the company released last summer. Gaming sales, however, declined 30% on an annual basis, which the company attributed to a decrease in console chip revenue. AMD's embedded segment, which is mostly sales from the company's 2022 acquisition of Xilinx, declined 3% on an annual basis to $823 million. WATCH: Chip stocks fall as Nvidia, AMD warn of higher costs from China export controls
The Hill
18-03-2025
- Business
- The Hill
Vance huddles with VCs
'Our workers, the populists on the one hand, the tech optimists on the other, have been failed by this government,' Vance said during his keynote address to the American Dynamism Summit hosted by the Andreessen Horowitz (a16z) venture capital firm. 'Not just the government of the last administration, but the government — in some ways — of the last 40 years, because there were two conceits that our leadership class had when it came to globalization.' Vance argued the first conceit of globalization — describing the interdependence of the world's economies and services — was the assumption the U.S. would be able to separate the manufacturing of products from their design process. The vice president described how design firms work with their manufacturing partners and often share intellectual property, practices and sometimes employees as a result. 'Now, we assume that other nations would always trail us in the value chain. But it turns out that as they got better at the low end of the value chain, they also started catching up on the higher end. We were squeezed from both ends,' he said. The second conceit, Vance argued, was the idea that cheap labor is a positive thing for innovation. 'Cheap labor is fundamentally a crutch, and it's a crutch that inhibits innovation,' the vice president said. 'I might even say that it's a drug that too many American firms got addicted to now.' Vance, a former venture capitalist, has served as one of the Trump administration's main messengers of technology policy. Tuesday's address built off his speech at the Artificial Intelligence Action Summit in Paris last month. Vance on Tuesday echoed his push against excessive regulation, arguing tech companies must be able to 'build, build, build.'
Yahoo
18-03-2025
- Business
- Yahoo
Vance slams globalization for hampering American innovation
Vice President Vance defended the Trump administration's push for technology innovation despite any risks in a Tuesday speech to entrepreneurs and venture capitalists, arguing globalization has stifled this mission over the past several decades. 'Our workers, the populists on the one hand, the tech optimists on the other, have been failed by this government. Not just the government of the last administration, but the government — in some ways — of the last 40 years, because there were two conceits that our leadership class had when it came to globalization,' Vance said during his keynote address to the American Dynamism Summit. Vance argued the first conceit of globalization — describing the interdependence of the world's economies and services — was the assumption the U.S. would be able to separate the manufacturing of products from their design process. 'The idea of globalization was that rich countries would move further up the value chain while the poor countries made the simpler things,' he said, adding later, 'But I think we got it wrong. It turns out that the geographies that do the manufacturing get awfully good at the designing of things.' The vice president described how design firms work with their manufacturing partners and often share intellectual property, practices and sometimes employees as a result. 'Now, we assume that other nations would always trail us in the value chain. But it turns out that as they got better at the low end of the value chain, they also started catching up on the higher end. We were squeezed from both ends,' he said. The second conceit, Vance argued, was the idea that cheap labor is a positive thing for innovation. 'Cheap labor is fundamentally a crutch, and it's a crutch that inhibits innovation,' the vice president said. 'I might even say that it's a drug that too many American firms got addicted to now.' Vance, a former venture capitalist, has served as one of the Trump administration's main messengers of technology policy. Tuesday's address built off his speech at the Artificial Intelligence Action Summit in Paris last month. Vance on Tuesday echoed his push against excessive regulation, arguing tech companies must be able to 'build, build, build.' 'Our goal is to incentivize investment in our own borders, in our own businesses, our own workers and our own innovation,' Vance said. 'We don't want people seeking cheap labor. We want them investing and building right here in the United States of America.' The vice president also took aim at deindustrialization, stating it poses a risk to both America's national security and workforce. 'It's important because it affects both, and the net result is dispossession — for many in this country — of any part of the productive process,' he continued. 'And when our factories disappear and the jobs in those factories go overseas, American workers are faced not only with financial insecurity, they're also faced with a profound loss of personal and communal identity.' The Trump administration has made clear it wants to bring jobs and production back to the U.S., especially as foreign competition in the technology space ramps up. Shortly after being sworn into his second term, President Trump repealed former President Biden's 2023 executive order that placed guardrails on artificial intelligence (AI) innovation and signed an executive order to roll back any policies that 'act as barriers to American AI innovation.' Vance acknowledged the persistent concerns over AI technology taking the jobs of Americans but argued the technology might not have as much of an impact as people assume. He used the example of the ATM, which at the time was feared to replace bank tellers. 'In reality, the advent of the ATM made bank tellers more productive, and you have more people today working in customer service in the financial sector than you had when the ATM was created,' he said. 'Now they're doing slightly different jobs.' 'We shouldn't be afraid of artificial intelligence and that, particularly for those of us lucky enough to be Americans, we shouldn't be fearful of productive new technologies,' Vance added. 'In fact, we should seek to dominate them, and that's certainly what this administration wants to accomplish.' Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
