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By Supantha Mukherjee and Louise Rasmussen STOCKHOLM (Reuters) -Nvidia will pay $1 billion for a stake of 2.9% in Nokia as part of a deal focused on AI and data centers, the Finnish telecom equipment maker said on Tuesday as its shares hit their highest level in nearly a decade. Nokia said the companies will collaborate on artificial intelligence networking solutions and explore opportunities to include its data center communications products in Nvidia's future AI infrastructure plans. Capital expenditure on data center infrastructure is expected to exceed $1.7 trillion by 2030, consulting firm McKinsey estimates, largely because of the expansion of AI. Nvidia has a near-monopoly in supplying chips for data centers and has partnered with companies ranging from OpenAI to Microsoft. Nvidia CEO Jensen Huang said the deal would help make the U.S. the center of the next revolution in 6G. "Thank you for helping the United States bring telecommunication technology back to America," Huang said in a speech in Washington, addressing Nokia CEO Justin Hotard. "The key thing here is it's American technology delivering the base capability, which is the accelerated computing stack from Nvidia, now purpose-built for mobile," Hotard told Reuters in an interview. He expects the new equipment to start contributing to revenue from 2027 as it goes into commercial deployment, first with 5G, followed by 6G. "This is a strong endorsement of Nokia's capabilities," said PP Foresight analyst Paolo Pescatore, adding: "Next-generation networks, such as 6G, will play a significant role in enabling new AI-powered experiences." Nokia's shares closed up 20.86% after the deal announcement, a high last touched in late January 2016. NEW NOKIA CEO BETS ON AI GROWTH, DATA CENTER BUSINESS  Since joining Nokia in April, Hotard, who earlier led Intel's data centers and AI group, has focused on expanding its data center business. While Nvidia and Nokia have been talking about the technology since last year, Hotard sped up the discussions. "Jensen and I have been talking for a little bit and I love the pace at which Nvidia moves," Hotard said. "It's a pace that I aspire for us to move at Nokia." The nonexclusive partnership and the investment will make Nvidia the second-largest shareholder in Nokia. Nokia, which uses Marvell chips for many of its products, and its Swedish rival Ericsson both make equipment for connectivity inside data centers and between data centers and have been benefiting from increased AI use. While Nvidia chips are likely to be more expensive, said Mads Rosendal, analyst at Danske Bank Credit Research, the proposed partnership would be mutually beneficial, given Nvidia's large share in the U.S. data center market. Separately, the two companies will also partner with T-Mobile U.S. to develop AI radio technologies for developing 6G and start trials from next year, Nokia said.  Nokia said it will issue 166,389,351 new shares for Nvidia, which the U.S. company will subscribe to at $6.01 per share. (Reporting by Supantha Mukherjee and Johan Ahlander in Stockholm, Louise Rasmussen in Copenhagen and Gianluca Lo Nostro in Gdansk; Editing by Alexander Smith and Matthew Lewis)

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By Deepa Seetharaman, Stephen Nellis and Deborah Mary Sophia (Reuters) -Microsoft and OpenAI announced a restructuring deal on Tuesday that frees the ChatGPT maker to move away from its nonprofit roots and likely go public so it can finance CEO Sam Altman's ambitious plans to develop data centers and cutting-edge technology.  The deal refashions the $500 billion company as a public benefit corporation that is controlled by a nonprofit with a stake in OpenAI's financial success. In a livestream broadcast, Altman said an initial public offering was the most likely path for the company's future, given how much money is needed to train and build AI systems like the one that supports ChatGPT.  Altman and chief scientist Jakub Pachocki opened the livestream by outlining plans to shift OpenAI from a product company into a platform that lets others build their own tools, services, and businesses on top of its technology. "We can now take this technology and this user base and this sort of framework we've built and get the whole world to build amazing new companies and services and applications on top of it," Altman said. The restructuring has been one of many initiatives under way at OpenAI, which is betting that its generative AI technology will ultimately transform the global economy. The moves have heartened OpenAI's investors and business partners, including Nvidia's CEO Jensen Huang, who was asked about the news at a developer conference on Tuesday.  "I wish back in the earlier days that we had invested a lot more," Huang said. "If you told me that OpenAI is going to go public next year, I'm not surprised, and in a lot of ways, I think this can be one of the most successful public offerings in history."  CAPITAL CONSTRAINTS CAUSED TENSIONS Tuesday's agreement removes major constraints on OpenAI's ability to raise capital and secure computing resources from Microsoft that have been in place since the two companies forged their agreement in 2019. Once AI assistant ChatGPT exploded in popularity three years ago, those limitations sparked tensions between the firms. The discussions to restructure OpenAI started after Altman was pushed out of OpenAI temporarily. The episode in late 2023 highlighted how the startup's unusual structure limited the power of its investors and business partners, including Microsoft.  Altman will not get equity in the restructured company, an OpenAI spokesperson said, in a reversal from discussions last year that would have given him a stake. The spokesperson added there will be no changes to his compensation from OpenAI, which pays him some $76,000 a year.  Altman said OpenAI has financial obligations of $1.4 trillion to help build roughly 30 gigawatts of data-center infrastructure over the next few years.  Eventually, OpenAI would like to build a data center that can produce one new gigawatt of power per week, Altman said, without offering more details. Each gigawatt costs as much as $50 billion to build, and Altman said he would like to help bring the cost down to $20 billion.   MICROSOFT TO KEEP 27% STAKE The new OpenAI Group PBC will function more like a traditional company, cementing Altman's power and giving him more leeway to strike deals, raise money and shape the broader AI industry. Microsoft will not have rights to any consumer hardware produced by OpenAI, and no longer has the right of first refusal to be OpenAI's compute provider.  Even so, Microsoft will hold a 27% stake in OpenAI and remain a significant player in its future. OpenAI will continue to share about 20% of its revenue with Microsoft for years to come, people familiar with the matter said.   Microsoft's previous 2019 agreement had many provisions that rested on when OpenAI reached artificial general intelligence, and the new deal requires an independent panel to verify OpenAI's claims that it has reached AGI, the point at which AI systems can match a well-educated human adult. Microsoft will still hold a stake of about $135 billion in OpenAI Group PBC, which will be controlled by the nonprofit OpenAI Foundation, the companies said.  The Redmond, Washington-based firm has invested $13.8 billion in OpenAI, with Tuesday's deal implying that Microsoft had generated a return of nearly 10 times its investment. Microsoft shares rose 2%, sending its market value above $4 trillion again.   The deal keeps the two firms intertwined until at least 2032, with a massive cloud computing contract and with Microsoft retaining some rights to OpenAI products and AI models until then, even if OpenAI reaches AGI. OpenAI and Microsoft expect to end the revenue-share agreement once an independent panel declares AGI, but OpenAI can also make those payments later. Both companies declined to say when they expect those commitments to end.  With some 800 million weekly users as of October, ChatGPT has exploded in popularity to become the face of AI for many consumers after OpenAI's founding as a nonprofit AI safety group. As the company grew, the Microsoft deal constrained OpenAI's ability to raise funds from outside investors and secure computing contracts as the crush of ChatGPT users and its research into new models caused its computing needs to skyrocket. The requirement that OpenAI exclusively rely on Microsoft for computational resources was among the largest sources of tension.  "OpenAI has completed its recapitalization, simplifying its corporate structure," Bret Taylor, the OpenAI Foundation's board chair, said in a blog post. "The nonprofit remains in control of the for-profit, and now has a direct path to major resources before AGI arrives." Taylor and other board members – including Altman – have the power to appoint and remove members of the PBC's board. The OpenAI Foundation has a 26% stake in OpenAI Group and a warrant to receive additional shares if the company hits certain milestones.  "OpenAI still faces ongoing scrutiny around transparency, data usage, and safety oversight. But overall, this structure should provide a clearer path forward for innovation and accountability," said Adam Sarhan, CEO of 50 Park Investments. Microsoft also said that it has secured a deal with OpenAI where the ChatGPT maker will purchase $250 billion of Azure cloud computing services. In exchange, Microsoft will no longer have the right of first refusal to provide computing services to OpenAI. (Reporting by Deborah Sophia in Bengaluru and Stephen Nellis in Washington; additional reporting by Krystal Hu; Editing by Devika Syamnath, Franklin Paul, Rod Nickel)

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By Supantha Mukherjee and Louise Rasmussen STOCKHOLM (Reuters) -Nvidia will pay $1 billion for a stake of 2.9% in Nokia as part of a deal focused on AI and data centers, the Finnish telecom equipment maker said on Tuesday as its shares hit their highest level in nearly a decade. Nokia said the companies will collaborate on artificial intelligence networking solutions and explore opportunities to include its data center communications products in Nvidia's future AI infrastructure plans. Capital expenditure on data center infrastructure is expected to exceed $1.7 trillion by 2030, consulting firm McKinsey estimates, largely because of the expansion of AI. Nvidia has a near-monopoly in supplying chips for data centers and has partnered with companies ranging from OpenAI to Microsoft. Nvidia CEO Jensen Huang said the deal would help make the U.S. the center of the next revolution in 6G. "Thank you for helping the United States bring telecommunication technology back to America," Huang said in a speech in Washington, addressing Nokia CEO Justin Hotard. "The key thing here is it's American technology delivering the base capability, which is the accelerated computing stack from Nvidia, now purpose-built for mobile," Hotard told Reuters in an interview. He expects the new equipment to start contributing to revenue from 2027 as it goes into commercial deployment, first with 5G, followed by 6G. "This is a strong endorsement of Nokia's capabilities," said PP Foresight analyst Paolo Pescatore, adding: "Next-generation networks, such as 6G, will play a significant role in enabling new AI-powered experiences." Nokia's shares closed up 20.86% after the deal announcement, a high last touched in late January 2016. NEW NOKIA CEO BETS ON AI GROWTH, DATA CENTER BUSINESS  Since joining Nokia in April, Hotard, who earlier led Intel's data centers and AI group, has focused on expanding its data center business. While Nvidia and Nokia have been talking about the technology since last year, Hotard sped up the discussions. "Jensen and I have been talking for a little bit and I love the pace at which Nvidia moves," Hotard said. "It's a pace that I aspire for us to move at Nokia." The nonexclusive partnership and the investment will make Nvidia the second-largest shareholder in Nokia. Nokia, which uses Marvell chips for many of its products, and its Swedish rival Ericsson both make equipment for connectivity inside data centers and between data centers and have been benefiting from increased AI use. While Nvidia chips are likely to be more expensive, said Mads Rosendal, analyst at Danske Bank Credit Research, the proposed partnership would be mutually beneficial, given Nvidia's large share in the U.S. data center market. Separately, the two companies will also partner with T-Mobile U.S. to develop AI radio technologies for developing 6G and start trials from next year, Nokia said.  Nokia said it will issue 166,389,351 new shares for Nvidia, which the U.S. company will subscribe to at $6.01 per share. (Reporting by Supantha Mukherjee and Johan Ahlander in Stockholm, Louise Rasmussen in Copenhagen and Gianluca Lo Nostro in Gdansk; Editing by Alexander Smith and Matthew Lewis)

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By Stephen Nellis, Alexandra Alper and Arsheeya Bajwa WASHINGTON (Reuters) -Nvidia CEO Jensen Huang said on Tuesday that the artificial intelligence chip leader will build seven new supercomputers for the U.S. Department of Energy, and said the company has $500 billion in bookings for its AI chips. But Huang said the Chinese government has shut Nvidia out of its market, and that the company had not applied for U.S. export licenses of its newest chips because of the Chinese position. "They've made it very clear that they don't want Nvidia to be there right now," he said at a news conference during the company's GTC event. "I hope that will change in the future because I think China is a very important market." The world's most valuable company, worth close to $5 trillion, Nvidia is at the core of the global rollout of AI. It is striking deals around the world while also navigating a U.S.-China trade war that could determine which country's technology is most used around the world. Investors have been looking for clarity on what chips the tech company will be able to sell to the vast Chinese market, but Huang did not offer a timeline. He kicked off a keynote address at the company's GTC event in the U.S. capital by praising policy by U.S. President Donald Trump while announcing new products and deals. These included network technology that will let Nvidia AI chips work with quantum computers. The supercomputers Nvidia is building for the Energy Department will in part help the United States maintain and develop its nuclear weapons arsenal. The supercomputers will also be used to research alternative energy sources such as nuclear fusion. The largest of the supercomputers for the Department of Energy will be built with Oracle and contain 100,000 of Nvidia's Blackwell chips. "Putting the weight of the nation behind pro-energy growth completely changed the game," Huang said. "If this didn't happen, we could have been in a bad situation, and I want to thank President Trump for that." Nvidia shares closed 5% higher at $201.03 on Tuesday. Nvidia also announced new details with Finnish telecom equipment maker Nokia to target the AI communications market. Nvidia will invest $1 billion for a 2.9% stake in Nokia and it also introduced a new product line called Arc, designed to work with telecommunications equipment. Huang said Nvidia will work with Nokia to improve the power efficiency of the company's base stations for 6G, the next generation of wireless data technology. “We're going to take this new technology and we’ll be able to upgrade millions of base stations around the world,” Huang said. Altogether the company has $500 billion in bookings for its Blackwell and Rubin chips over the next five quarters, the CEO said. Nvidia also announced a partnership with Palantir Technologies, a company that works closely with the U.S. government. However, the focus of Nvidia's partnership was on Palantir's commercial business, where Nvidia will help it speed up solving logistics problems for companies such as home improvement retailer Lowe's. Such corporate work was a longtime stronghold of Intel. Nvidia announced a new self-driving car technology platform called Hyperion. Huang said that Nvidia is partnering with Uber to create a network of robotaxis. “This is going to be a new computing platform for us, and I'm expecting it to be quite successful,” Huang said. "These announcements all show Nvidia's ability to extend its reach beyond its core data center customers," said Gil Luria, an analyst at D.A. Davidson. "While these projects pale in comparison to the capex by the hyperscalers such as Microsoft, Amazon, Google and Meta, they could create new markets for Nvidia down the line." Huang took the stage in a packed conference hall as Trump continued his tour of Asia this week ahead of his expected meeting with Chinese President Xi Jinping on Thursday. The flow of advanced technology between the two nations is likely to be at the center of trade discussions, with access to Nvidia's chips a key issue. Nvidia's developer event is being held for the first time in Washington, D.C., a sign that the company is pursuing work with the government and contractors clustered around the capital. At its last GTC in California in March, Nvidia laid out its chip road map for the next year. Former President Joe Biden clamped down on sales of Nvidia's most advanced chips to China, but Trump has wavered in his policy in his second term, at first restricting exports of Nvidia's AI chips designed for the China market before reversing course in July.  Huang has argued that Nvidia needs access to some $50 billion in potential sales from the Chinese market to fund U.S.-based research and development to maintain his company's edge. Reuters has previously reported that Chinese developers still want Nvidia's chips, despite pressure from Beijing to purchase domestic chips from Huawei Technologies Co. Nvidia outlined how it is making chips in Arizona at TSMC's facilities, and assembling servers in Texas and networking gear in California. “We are manufacturing in America again – it is incredible. The first thing that President Trump asked me is, 'bring manufacturing back,'" Huang said. (Reporting by Stephen Nellis and Alexandra Alper in Washington; Additional reporting by Arsheeya Bajwa in Bengaluru; Editing by Peter Henderson and Matthew Lewis)

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By Johann M Cherian (Reuters) -Apple briefly topped $4 trillion in market value for the first time on Tuesday, the third Big Tech company to hit the milestone, as robust demand for its latest iPhone models allayed fears over its slow progress in the AI race. Its stock briefly reached $269.89, giving Apple a market value of $4.005 trillion, before receding and ending the day up 0.1%, giving the company a value of $3.992 trillion. Apple's shares have gained about 13% since the new launches on September 9, in a turnaround that pushed the stock into positive territory for the first time this year.  "The iPhone accounts for over half of Apple's profit and revenue and the more phones they can get into the hands of people, the more they can drive people into their ecosystem," said Chris Zaccarelli, chief investment officer for Northlight Asset Management, ahead of the milestone.      Apple shares had struggled earlier this year on concerns over tough competition in China and uncertainties around how the company would navigate high U.S. tariffs on Asian economies such as China and India, its major manufacturing hubs.  The latest smartphones, including the iPhone 17 line-up and the iPhone Air, wooed back customers from Beijing to Moscow within the first few weeks of launch, while the company has swallowed the high costs from the tariffs. Analysts said the iPhone Air's slim design could help fend off rivals such as Samsung Electronics, while early sales of the iPhone 17 outperformed its predecessor by 14% in the U.S. and China, data from research firm Counterpoint showed. Brokerage Evercore ISI expects the strong demand for Apple's latest iPhones to help it surpass market expectations for the three-month period ending in September and issue upbeat forecasts for the quarter ending in December.     Apple is the third company to hit the $4 trillion mark after Nvidia and Microsoft. Nvidia currently tops the table with a market value of almost $5 trillion.  Apple's cautious approach to AI had fueled concerns it could lose out on what could be the industry's biggest growth catalyst in decades. Recent reports also indicate that the company is losing a number of its senior artificial intelligence executives to Meta.  The company was slow to roll out its Apple Intelligence suite, including a ChatGPT integration, while an AI upgrade to its voice assistant Siri has been delayed until next year.  Apple has explored several tie-ups with Alphabet's Gemini AI, Anthropic and OpenAI, according to reports. "The lack of a well-understood artificial intelligence strategy is clearly one of the things that is an overhang for the stock. If they could figure out how to incorporate artificial intelligence in a way that would excite consumers and the market, you'd see a whole different company," Zaccarelli said. Apple reported its strongest quarterly results in years during the April-June period, with double-digit growth across key segments and its forecasts were better than analysts' expectations. The company is expected to announce its fourth-quarter results on October 30. The iPhone maker's shares recently traded at 33 times earnings projected for the next 12 months, higher than the 27 for Nasdaq 100, according to data compiled by LSEG. Apple shares have gained 7% this year, widely underperforming the tech-heavy Nasdaq's 23% gain. (Reporting by Johann M Cherian and Shashwat Chauhan in Bengaluru; Editing by Sriraj Kalluvila)

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(Reuters) -Seagate Technology forecast second-quarter revenue and profit above analysts' estimates on Tuesday, betting on robust demand for its storage devices as cloud providers expand investments in hardware to support generative AI development.  Shares of the company rose over 3% in extended trading.  Cloud providers are pouring hundreds of billions of dollars into hardware that aids in the data-intensive process of training and running GenAI applications. Seagate, which supplies disk drives used to store vast amounts of data, has benefited from this.  Seagate expects second-quarter revenue of $2.70 billion, plus or minus $100 million, compared with analysts' average estimate of $2.66 billion, according to data compiled by LSEG. It expects adjusted profit of about $2.75 per share in the current quarter, above estimates of profit of $2.62 apiece. Boosted shipments of its products are being driven by "demand for existing use cases such as social media video platforms as well as growth driven by new AI applications," CEO Dave Mosley said in a statement. The optimistic forecast represents further normalization in memory device inventory levels, after a supply glut over the last two years drove cloud providers to cut back on orders in a bid to clear existing inventory. The addition of AI features to personal electronics has boosted the memory requirements of such devices. This will help Seagate, whose hard disk drives and other storage devices are employed in personal electronics.  Seagate reported revenue of $2.63 billion for the first quarter ended October 3, compared with the consensus estimate of $2.55 billion. The company posted adjusted earnings of $2.61 per share versus analysts' expectations of profit of $2.37 apiece. (Reporting by Arsheeya Bajwa; Editing by Alan Barona)

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(Reuters) -Electronic Arts missed Wall Street expectations for second-quarter bookings on Tuesday, weighed down by uncertain spending on its core sports portfolio and difficult growth comparisons to a strong launch of "College Football 25" last year. The results are EA's first since announcing its decision to be acquired by a group of private investors, including Saudi Arabia's Public Investment Fund, for $55 billion. EA is betting heavily on its core action and sports titles to weather an uncertain gaming market marked by high console prices, and gamers sticking to proven franchises amid a highly competitive year-end period. EA launched "College Football 25" last year, reviving the franchise after a long hiatus and attracting strong spending from core fans, becoming one of the best-selling games. The take-private deal was announced just before EA was set to launch the latest installment in its best-selling "Battlefield" franchise, which went on to sell over seven million copies during the first three days. With "Battlefield 6" off to a strong start and close rival "Call of Duty" seeing player fatigue, investors are now focused on the game's long-term financial prospects as EA plans to release regular content updates to keep players engaged and spending. Some analysts expect "Battlefield 6" to sell over 15 million units in EA's fiscal 2026 and could even reach 20 million. EA said bookings for its prominent soccer title "FC 26" were up mid-single digits compared to the title's predecessor, despite some analyst warnings of softer performance. The company's second-quarter bookings fell 13% to $1.82 billion, compared with the average estimate of $1.88 billion, according to data compiled by LSEG. The company reported net income of $137 million in the second quarter, compared with $294 million a year earlier. (Reporting by Zaheer Kachwala in Bengaluru; Editing by Anil D'Silva and Alan Barona)

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By Noel Randewich (Reuters) -Nvidia was on the verge of becoming the first company worth $5 trillion on Tuesday after the heavyweight chipmaker said it had $500 billion in bookings for its artificial intelligence processors and that it will build seven new supercomputers for the U.S. Department of Energy. Nvidia's stock closed almost 5% higher, adding over $230 billion in market value, bringing its total value to $4.89 trillion after briefly touching $4.94 trillion. CEO Jensen Huang kicked off a keynote address at a developer conference in the U.S. capital on Tuesday by praising policy by U.S. President Donald Trump while announcing new products and deals. Nvidia is at the core of the global rollout of AI, and is striking deals while navigating a U.S.-China trade war that could determine which technology from the two countries is most used around the world. The Santa Clara, California, company's stock has surged 50% in 2025. Its market capitalization closed above $4 trillion for the first time in July. Microsoft, the world's second most valuable company, rose 2%, lifting its market capitalization to $4.03 trillion. It and OpenAI announced a restructuring deal that frees the ChatGPT maker to move away from its nonprofit roots and likely go public. The supercomputers Nvidia is building for the Energy Department will in part help the U.S. maintain and develop its nuclear weapons arsenal. The largest of the supercomputers will be built with Oracle and contain 100,000 of Nvidia's high-end Blackwell AI chips. (Reporting by Noel Randewich; Editing by Richard Chang)

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(Reuters) -Seagate Technology forecast second-quarter revenue and profit above analysts' estimates on Tuesday, betting on robust demand for its storage devices as cloud providers expand investments in hardware to support generative AI development.  Shares of the company rose over 3% in extended trading.  Cloud providers are pouring hundreds of billions of dollars into hardware that aids in the data-intensive process of training and running GenAI applications. Seagate, which supplies disk drives used to store vast amounts of data, has benefited from this.  Seagate expects second-quarter revenue of $2.70 billion, plus or minus $100 million, compared with analysts' average estimate of $2.66 billion, according to data compiled by LSEG. It expects adjusted profit of about $2.75 per share in the current quarter, above estimates of profit of $2.62 apiece. Boosted shipments of its products are being driven by "demand for existing use cases such as social media video platforms as well as growth driven by new AI applications," CEO Dave Mosley said in a statement. The optimistic forecast represents further normalization in memory device inventory levels, after a supply glut over the last two years drove cloud providers to cut back on orders in a bid to clear existing inventory. The addition of AI features to personal electronics has boosted the memory requirements of such devices. This will help Seagate, whose hard disk drives and other storage devices are employed in personal electronics.  Seagate reported revenue of $2.63 billion for the first quarter ended October 3, compared with the consensus estimate of $2.55 billion. The company posted adjusted earnings of $2.61 per share versus analysts' expectations of profit of $2.37 apiece. (Reporting by Arsheeya Bajwa; Editing by Alan Barona)

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By John Revill ZURICH (Reuters) -Logitech on Tuesday reported better-than-expected sales and earnings for the second quarter as the computer peripherals maker sold more of its artificial intelligence-enabled products. The Swiss-American company said its sales rose 6% to $1.19 billion for the three months ended September 30. The figure came in slightly ahead of the analyst estimate of $1.18 billion, according to Visible Alpha. Meanwhile, non-GAAP operating income rose 19% to $230 million, beating analysts' estimates of $196 million. Logitech said it was being helped by increased sales to businesses, which were investing more in products such as video conferencing equipment and computer peripherals to help with hybrid work. Sales of computer keyboards rose 12%, while those of mice jumped 13% in the quarter. Sales of video collaboration devices rose 5%. Gaming product sales rose 8%, helped by 12 new launches, including steering wheels and special mice aimed at computer gamers. "We delivered another strong quarter, driving growth and excellent profitability," CEO Hanneke Faber said in a statement. The company saw strong demand from businesses and consumers, Faber added. Logitech – which is based in Lausanne, Switzerland, and San Jose, California – has recently been shifting production lines from China to lessen the impact of U.S. tariffs, while its plant in Suzhou will continue to supply China. Logitech also increased prices by 10% in the U.S. in April to counter the tariff impact. For the coming quarter, Logitech expects sales of $1.38 billion to $1.42 billion, an increase of 3%-6% when converted to U.S. dollars. It also said it expected non-GAAP operating income of $270 million to $290 million. (Reporting by John Revill; Editing by Anil D'Silva)

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