व्यापार

(Reuters) – Wall Street's main indexes opened higher on Monday following Friday's pullback, as investors returned to risk assets after President Donald Trump's softer tone eased concerns over renewed U.S.-China trade tensions. The Dow Jones Industrial Average rose 218.9 points, or 0.48%, at the open to 45,698.46. The S&P 500 rose 70.0 points, or 1.07%, to 6,622.53​, while the Nasdaq Composite rose 374.2 points, or 1.69%, to 2,2578.674. (Reporting by Sukriti Gupta in Bengaluru; Editing by Maju Samuel)

(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) -OpenAI has partnered with Broadcom to produce its first in-house artificial intelligence processors, the latest chip tie-up for the ChatGPT maker as it races to secure the computing power needed to meet surging demand for its services. Shares of Broadcom rose more than 7% in early trading. The companies said on Monday that OpenAI would design the chips, which Broadcom will develop and deploy starting in the second half of 2026. They will roll out 10 gigawatts' worth of custom chips, whose power consumption is roughly equivalent to the needs of more than 8 million U.S. households or five times the electricity produced by the Hoover Dam. The agreement is the latest in a string of massive AI chip investments that have highlighted the technology industry's surging appetite for computing power as it races to build systems that meet or surpass human intelligence. OpenAI last week unveiled a 6-gigawatt AI chip supply deal with AMD that includes an option to buy a stake in the chipmaker, days after disclosing that Nvidia plans to invest up to $100 billion in the startup and provide it with data-center systems with at least 10 gigawatts of capacity. "Partnering with Broadcom is a critical step in building the infrastructure needed to unlock AI's potential," OpenAI CEO Sam Altman said in a statement. Financial details of the agreement were not disclosed and it was not immediately clear how OpenAI would fund the deal. CUSTOM CHIP BOOM The tie-up with Broadcom, first reported by Reuters last year, places OpenAI among cloud-computing giants such as Alphabet-owned Google and Amazon.com that are developing custom chips to meet surging AI demand and reduce dependence on Nvidia's costly processors that are limited in supply. The approach is not a sure bet. Similar efforts by Microsoft and Meta have run into delays or failed to match the performance of Nvidia chips, according to media reports, and analysts believe custom chips do not pose a threat to Nvidia's dominance in the short term. The rise of custom chips has, however, turned Broadcom – long known for its networking hardware – into one of the biggest winners of the generative AI boom, with its stock price rising nearly six-fold since the end of 2022. The company unveiled a blockbuster $10 billion custom AI chip order in September from an unnamed new customer that some analysts and market watchers speculated was OpenAI. Broadcom and OpenAI said on Monday that the deployment of the new custom chips would be completed by the end of 2029, building on their existing co-development and supply agreements. The new systems will be scaled entirely using Broadcom's Ethernet and other networking gear, giving the company an edge over smaller rivals such as Marvell Technology and challenging Nvidia's InfiniBand networking solution. (Reporting by Max Cherney in San Francisco and Arsheeya Bajwa in Bengaluru; Editing by Shinjini Ganguli)

(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) -Cloud software provider Salesforce said on Monday it would invest $15 billion in San Francisco over the next five years to support artificial intelligence innovation and workforce development in the city. The investment will support a new AI incubator hub on Salesforce's San Francisco campus and help companies adopt AI agents, which can perform tasks on behalf of the users, the company said. "This $15 billion investment reflects our deep commitment to our hometown — advancing AI innovation, creating jobs and helping companies and our communities thrive," Chief Executive Marc Benioff said in a statement. (Reporting by Jaspreet Singh in Bengaluru; Editing by Shilpi Majumdar)

(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) -OpenAI has partnered with Broadcom to produce its first in-house artificial intelligence processors, the latest chip tie-up for the ChatGPT maker as it races to secure the computing power needed to meet surging demand for its services. Shares of Broadcom rose more than 12% in premarket trading. The companies said on Monday that OpenAI would design the chips, which Broadcom will develop and deploy starting in the second half of 2026. They will roll out 10 gigawatts' worth of custom chips, whose power consumption is roughly equivalent to the needs of more than 8 million U.S. households or five times the electricity produced by the Hoover Dam. The agreement is the latest in a string of massive AI chip investments that have highlighted the technology industry's surging appetite for computing power as it races to build systems that meet or surpass human intelligence. OpenAI last week unveiled a 6-gigawatt AI chip supply deal with AMD that includes an option to buy a stake in the chipmaker, days after disclosing that Nvidia plans to invest up to $100 billion in the startup and provide it with data-center systems with at least 10 gigawatts of capacity. "Partnering with Broadcom is a critical step in building the infrastructure needed to unlock AI's potential," OpenAI CEO Sam Altman said in a statement. Financial details of the agreement were not disclosed and it was not immediately clear how OpenAI would fund the deal. CUSTOM CHIP BOOM The tie-up with Broadcom, first reported by Reuters last year, places OpenAI among cloud-computing giants such as Alphabet-owned Google and Amazon.com that are developing custom chips to meet surging AI demand and reduce dependence on Nvidia's costly processors that are limited in supply. The approach is not a sure bet. Similar efforts by Microsoft and Meta have run into delays or failed to match the performance of Nvidia chips, according to media reports, and analysts believe custom chips do not pose a threat to Nvidia's dominance in the short term. The rise of custom chips has, however, turned Broadcom – long known for its networking hardware – into one of the biggest winners of the generative AI boom, with its stock price rising nearly sixfold since the end of 2022. The company unveiled a blockbuster $10 billion custom AI chip order in September from an unnamed new customer that some analysts and market watchers speculated was OpenAI. Broadcom and OpenAI said on Monday that the deployment of the new custom chips would be completed by the end of 2029, building on their existing co-development and supply agreements. The new systems will be scaled entirely using Broadcom's Ethernet and other networking gear, giving the company an edge over smaller rivals such as Marvell Technology and challenging Nvidia's InfiniBand networking solution. (Reporting by Max Cherney in San Francisco and Arsheeya Bajwa in Bengaluru; Editing by Shinjini Ganguli)

(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) -First Brands said on Monday founder Patrick James had stepped down as CEO and will be succeeded by Chief Restructuring Officer Charles Moore on an interim basis, as the auto parts maker advances its Chapter 11 bankruptcy process. The Ohio-based company, which makes filters, brakes and lighting systems, filed for bankruptcy protection in late September, disclosing liabilities of about $11.6 billion. On Friday, a spokesperson for James said that he was considering leaving his position as CEO. His brother, Edward, stepped down from his senior position in the company, the Financial Times reported. Moore, who has served as the distressed auto parts company's chief restructuring officer since September, will oversee stabilization initiatives and facilitate a court-supervised sale process. He brings more than 30 years of leadership experience in restructuring and performance improvement across the automotive supply chain, the company said. First Brands racked up most of its long-term debt by acquiring other parts suppliers and auto repair services over the past 15 years. (Reporting by Aishwarya Jain in Bengaluru; Editing by Sahal Muhammed and Sriraj Kalluvila)

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

By Giulio Piovaccari MILAN (Reuters) -Stellantis is set to delay the unveiling of its new strategic plan to the second quarter of next year to give CEO Antonio Filosa more time to address major uncertainties in the carmaker's key markets. The decision, which Stellantis flagged in an analyst call on Friday, underscores the challenges facing Filosa, who took over in June, as the French-Italian-American automaker grapples with rising trade barriers in the U.S. and evolving regulation in the European Union. "While we had initially indicated Q1 2026, it would now be more accurate to say H1 2026," Stellantis global head of investor relations Ed Ditmire told analysts late on Friday, according to a transcript of the call. The delay will give the automaker a chance to better address "critical exogenous factors" such as U.S. tariffs and "the robust engagement of our industry with policymakers in Europe", the transcript showed. Filosa warned in July of a 1.5 billion euro ($1.73 billion) hit from U.S. tariffs in 2025. Last year more than 40% of the 1.2 million vehicles the company sold in the U.S., its main market, were imports, mostly from Mexico and Canada, on which Washington has imposed tariffs of 25%. The CEO, who in recent weeks has reshuffled the group's top management ranks, promoting close associates to key positions, said last month he did not yet see the U.S. tariff scenario as final. He has pledged new vehicle launches to reconnect with customers as he aimed to get the automaker back on track after a dismal 2024. "We expect to make final decisions on timing relatively soon and communicate it promptly," Ditmire said. In Europe, Filosa needs to wait for the outcome of the EU Commission's review of its 2035 zero-emission regulation for the auto industry, due at the end of this year. Stellantis shares closed down 7.3% on Friday after a positive first half of the session in which the company released preliminary sales data for the third quarter. Shares had rebounded 2.9% by 1237 GMT on Monday. Barclays analysts said Friday's share drop had followed the call and highlighted "another nervous reaction (by the market) – and again on limited new news." In a note on Monday Barclays said there had been "strongly increasing investor interest in Stellantis", pointing to positive elements recently such as U.S. September market share and comments on order momentum. However, Barclays also sounded a note of caution. "We think it still seems premature to fully re-engage while adjusted operating income and free cash flow visibility remain limited and the all-new management team is performing a significant strategic pivot," the broker said.   Stellantis is due to release its third-quarter shipment and revenue data on October 30. ($1 = 0.8646 euros) (Reporting by Giulio Piovaccari; Editing by Valentina Za, Alexander Smith and Jan Harvey)

(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) -Salesforce said on Monday its artificial intelligence platform "Agentforce 360" would be available globally across its suite of cloud-based tools to help clients automate routine tasks. Software firms are racing to enhance their products with advanced features as competition intensifies in an industry where clients are increasingly turning to AI agents, which can take actions on behalf of users, to help rein in costs. "Agentforce 360 connects humans, agents and data on one trusted platform," Salesforce CEO Marc Benioff said. Agentforce 360 has 12,000 customers, including social media company Reddit, restaurant reservation platform OpenTable and employment services firm Adecco, the cloud software provider said. Salesforce also said its workplace messaging tool Slack would allow employees to use conversational AI in chats to gather data and complete tasks, with enterprise controls and security guardrails. (Reporting by Jaspreet Singh in Bengaluru; Editing by Shilpi Majumdar)

(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 News) -Shares of Beyond Meat tumbled more than 60% on Monday after the plant-based meat maker announced an early settlement of an exchange offer for convertible bonds as it seeks to reduce debt following years of struggling sales. Nearly 97% of its bondholders agreed to swap their old debt for new notes and shares, the company said in a filing on Monday. It will issue new debt and stock to settle the deal early, aiming to reduce its financial burden. Beyond Meat had launched an exchange offer for convertible bonds in September to cut more than $800 million in debt. According to its latest annual filing, the company had about $1.3 billion in debt, as of December 31, 2024. (Reporting by Juveria Tabassum in Bengaluru; Editing by Shilpi Majumdar)

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

By Toby Sterling AMSTERDAM (Reuters) -The Dutch government has taken control of Chinese-owned computer chipmaker Nexperia, ratcheting up tensions with Beijing as a global fight brews over technology intellectual property, especially around semiconductors. The government said late on Sunday that it has intervened in Nijmegen-headquartered Nexperia, which manufactures chips for cars and consumer electronics. It cited worries about the possible transfer of technology to Nexperia's Chinese parent company, Wingtech.  Amsterdam invoked never-before-used powers under a Dutch law known as the "Availability of Goods Act". The decision led to a 10% fall in Wingtech's shares in Shanghai on Monday. The Dutch government will not take ownership of Nexperia, but it will now have the power to reverse or block management decisions it considers harmful. The company's regular production is continuing. WINGTECH SAYS DECISION DRIVEN BY 'GEOPOLITICAL BIAS' U.S. President Donald Trump is ratcheting up pressure on Chinese tech firms as part of a broader trade war that saw him threaten 100% tariffs on China's exports last week. The U.S. and the Netherlands typically cooperate closely on computer chip industry export controls. A Dutch Economic Affairs Ministry spokesperson, however, said there was no U.S. involvement in its decision regarding Nexperia and the timing was "purely coincidental". Washington last month expanded a list of blacklisted firms seen as threats to national security to include subsidiaries. Wingtech had already been placed on the United States' "entity list" in December 2024 for its alleged role "in aiding China's government's efforts to acquire entities with sensitive semiconductor manufacturing capability." Nexperia, which is 100%-owned by Wingtech, said at the time that it would comply with the U.S. rules, though it said its operations were kept at arm's length from its Chinese parent. Wingtech called the Dutch government's intervention in Nexperia, once part of Dutch electronics group Philips, "excessive interference driven by geopolitical bias". Wingtech also alleged that non-Chinese Nexperia executives had tried to forcibly alter the company's equity structure through legal proceedings in a "cloaked power grab" on the company. Wingtech said in a statement that it was consulting with lawyers and seeking government support to "protect the legitimate rights and interests of the company". Nexperia, which Wingtech bought for $3.63 billion in 2018, said it complied with all relevant laws and regulations. COURT ORDERED WINGTECH CHAIR SUSPENDED FROM NEXPERIA BOARD In its statement, the Dutch government cited issues around "crucial technological knowledge" without elaborating. "The loss of these capabilities could pose a risk to Dutch and European economic security," it said. Nexperia is one of the world's largest makers of simple computer chips such as diodes and transistors, though it also develops more advanced technologies such as "wide gap" semiconductors used in electrical settings and useful for electric cars, chargers and AI data centres. Wingtech said in a filing to the Shanghai stock exchange on Monday that its control over Nexperia would be temporarily restricted due to the Dutch order and court rulings, affecting decision making and operational efficiency.  Wingtech said its chairman Zhang Xuezheng was suspended from Nexperia's boards by an Amsterdam court order on October 6, and an independent non-Chinese person with a "deciding vote" would be appointed in his place. In addition to the United States, Wingtech has had run-ins before with other Western governments over its operations, with Britain ordering it to divest ownership of a facility in Newport. The Netherlands scrutinised Nexperia's purchase of startup Nowi in 2023. (Reporting by Toby Sterling; additional reporting by Samuel Shen and Brenda Goh in Shanghai. Editing by Diane Craft, Edmund Klamann, Michael Perry and Joe Bavier)

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

By Florence Tan SINGAPORE (Reuters) -The latest U.S. sanctions on a major Chinese crude oil terminal have forced refining group Sinopec to divert a supertanker and ask some plants to cut crude processing rates, according to ship tracking data and Chinese consultancies. A supertanker carrying oil to the Chinese port of Rizhao in Shandong province changed its destination over the weekend after the U.S. imposed sanctions on an import terminal at the port on Friday, LSEG data showed. Shortly after the U.S. announcement, Sinopec told about half a dozen subsidiary refineries that receive crude oil from the designated terminal to cut operation rates to 80% for the rest of October, Chinese consultancy Sublime China Information wrote in a market update late on Friday. Another consultancy, JLC, estimated on Saturday that Sinopec's October runs may drop 3.36% from earlier plans to about 5.16 million barrels per day. Sinopec did not immediately respond to requests for comment. LSEG data showed the supertanker New Vista, chartered by Sinopec's trading arm Unipec and originally scheduled to discharge at Rizhao on Sunday, had switched its destination to the ports of Ningbo and Zhoushan for arrival on October 15. The New Vista can carry 2 million barrels of crude and is currently carrying Abu Dhabi's Upper Zakum crude grade. The Rizhao Shihua Crude Oil Terminal, half-owned by a Sinopec logistics unit, was among the entities listed by the U.S. Treasury in a round of sanctions that also includes ships transporting Iranian crude oil and liquefied petroleum gas. The terminal, in the city of Lanshan in Shandong province, a major Chinese oil refining hub, was sanctioned for receiving Iranian oil on board sanctioned vessels, the U.S. said. One-fifth of Sinopec's crude oil imports pass through the Rizhao terminal, according to industry executives and analysts. (Reporting by Florence Tan and Trixie Yap; Additional reporting by Chen Aizhu; Editing by Christian Schmollinger and Jan Harvey)

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