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By Jan Strupczewski BRUSSELS (Reuters) -Euro zone finance ministers will discuss on Thursday how they can support the development of euro-denominated stablecoins so as not to leave the rapidly growing market only to the United States, a senior euro zone official said. Stablecoins are digital tokens that have stable value against a regular currency and are backed by reserves like the currency itself or other assets. The stablecoin market is now around $300 billion, but is forecast to grow tenfold over the next decade, the official said. Almost all stablecoins now are denominated in U.S. dollars and U.S. legislation called the Genius Act from July aims to keep that dominance by requiring stablecoin issuers to base them on U.S. dollars or U.S. treasuries. "So the discussion is basically how should we position ourselves towards all this," said the official, who has taken part in the preparations for the ministerial meeting. Last month, a consortium of nine European banks, including heavyweights ING and UniCredit launched a euro-denominated stablecoin to counter U.S. digital market dominance. But euro stablecoins still account only for around $620 million out of the $300 billion total issuance. Europe has its own legislation on stablecoins, called Markets in Crypto-Assets Regulation (MiCA), and the ministers will discuss if it needs to be changed to help create euro-denominated stablecoins. "(The ministers will discuss) whether we have got the right balance between risk mitigation and promoting financial innovations, whether we should be more supportive, if there are some regulatory issues that we need to fix to better nurture the development of high quality European stable points and also discuss how all this links together with the digital euro," the official said. "This is very much an early engagement. It is mainly about putting this issue in the hands of finance ministers, getting their attention, first reactions, and we will then see where it takes us later," the official said. (Reporting by Jan Strupczewski; Editing by Toby Chopra)

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(Reuters) -Dell on Tuesday nearly doubled its annual profit growth target for the next four years, betting on robust demand for its servers that power artificial intelligence workloads. The company, whose customers include Elon Musk's AI startup xAI and CoreWeave, lifted its expectations for annual growth in adjusted earnings per share to at least 15% from around 8%. Its shares surged nearly 3% in early trading after the company also said it expects compounded annual revenue growth between 7% and 9% for the next four years, up from its prior view of 3% to 4%. Insatiable demand for servers that provide the computing power needed to run services such as ChatGPT has turned Dell into one of the biggest winners of the generative AI boom. Its strong profit growth expectation may also ease investor concerns about the margin hit from competition in AI servers and the high costs of building the products. Dell also reiterated its third-quarter and annual forecasts. It had raised its expectation for AI server shipments in August to $20 billion for fiscal 2026. "Customers are hungry for AI and the compute, storage and networking we provide to deploy intelligence at scale," CEO Michael Dell said, adding that the company was in the early stages of AI adoption despite two years of progress. Dell expects long-term compounded annual revenue growth of 11% to 14% for the infrastructure solutions group – home to its storage, software and server offerings. That compares with its earlier expectations of 6% to 8%. The company continues to expect revenue growth of 2% to 3% for its client solutions group, which includes personal computers. Strong competition in the consumer market has hit the business in recent years, even as Dell keeps a strong position among enterprise clients. The company is expected to benefit from a PC refresh cycle after Microsoft ends support for Windows 10 next week, as users and companies seek to maintain security and access to the latest features. (Reporting by Jaspreet Singh in Bengaluru; Editing by Arun Koyyur)

(The article has been published through a syndicated feed. Except for the headline, the content has been published verbatim. Liability lies with original publisher.)

(Reuters) -Dell on Tuesday nearly doubled its annual profit growth target for the next four years, betting on robust demand for its servers that power artificial intelligence workloads. The company, whose customers include Elon Musk's AI startup xAI and CoreWeave, lifted its expectations for annual growth in adjusted earnings per share to at least 15% from around 8%. Its shares surged nearly 3% in early trading after the company also said it expects compounded annual revenue growth between 7% and 9% for the next four years, up from its prior view of 3% to 4%. Insatiable demand for servers that provide the computing power needed to run services such as ChatGPT has turned Dell into one of the biggest winners of the generative AI boom. Its strong profit growth expectation may also ease investor concerns about the margin hit from competition in AI servers and the high costs of building the products. Dell also reiterated its third-quarter and annual forecasts. It had raised its expectation for AI server shipments in August to $20 billion for fiscal 2026. "Customers are hungry for AI and the compute, storage and networking we provide to deploy intelligence at scale," CEO Michael Dell said, adding that the company was in the early stages of AI adoption despite two years of progress. Dell expects long-term compounded annual revenue growth of 11% to 14% for the infrastructure solutions group – home to its storage, software and server offerings. That compares with its earlier expectations of 6% to 8%. The company continues to expect revenue growth of 2% to 3% for its client solutions group, which includes personal computers. Strong competition in the consumer market has hit the business in recent years, even as Dell keeps a strong position among enterprise clients. The company is expected to benefit from a PC refresh cycle after Microsoft ends support for Windows 10 next week, as users and companies seek to maintain security and access to the latest features. (Reporting by Jaspreet Singh in Bengaluru; Editing by Arun Koyyur)

(The article has been published through a syndicated feed. Except for the headline, the content has been published verbatim. Liability lies with original publisher.)