GYEONGJU, South Korea (Reuters) -Amazon Web Services will invest at least $5 billion in South Korea by 2031 to build new artificial intelligence data centres in the Asian country, South Korea's presidential office said on Wednesday. (Reporting by Heejin Kim; Editing by Himani Sarkar)
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By Milana Vinn NEW YORK (Reuters) -Private equity firm Francisco Partners is close to a deal to buy device management software provider Jamf, two people familiar with the matter said, taking the company private a little more than five years after its market debut. Vista Equity Partners, which owns 34% of Jamf, is expected to exit its position as part of the transaction, the sources said, asking not to be identified since the deal is confidential. The deal is expected to receive final approval on Tuesday and could be announced as early as Wednesday, one of the sources added. Jamf, Francisco Partners and Vista Equity did not immediately respond to requests for comment. The sources did not give details on the terms of the deal. Jamf had a market capitalization of approximately $1.5 billion as of Tuesday's close. The deal would end a tough run for Jamf shareholders. The company's stock has plunged 65% since its July 2020 IPO and is down roughly 32% over the past 12 months. Minneapolis-based Jamf provides device management and security solutions that enable IT teams to remotely manage Apple devices including MacBooks, iPads, and iPhones at scale. Despite posting 15% year-over-year revenue growth to $175.5 million in the second quarter and raising guidance for the year, Jamf has struggled to achieve profitability. (Reporting by Milana Vinn in New York; Editing by Dawn Kopecki and Edmund Klamann)
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By Wen-Yee Lee TAIPEI (Reuters) -Foxconn, the world's largest electronics maker and Nvidia's key AI server maker, said on Tuesday it will deploy humanoid robots at its Houston plant that produces AI servers for Nvidia. Reuters first reported in June that Foxconn and Nvidia were in talks to use humanoid robots at the Houston factory, targeting the first quarter of 2026. "The factory will also be among the first to deploy humanoid robots powered by the NVIDIA Isaac GR00T N model on its production lines, as Foxconn and Nvidia aim to build a world-leading benchmark AI smart factory," the company said in a statement released during Nvidia’s developers' conference in Washington, D.C. Foxconn, formally known as Hon Hai Precision Industry Co, said it will also continue scaling up AI server production in Texas, Wisconsin and California to meet rising demand. “Our team is bringing the most advanced AI data center solutions to the United States, which will help our leading customers stay ahead in the AI race,” Foxconn Chairman Young Liu said in the release. (Reporting by Wen-Yee Lee; Editing by Sonali Paul)
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By Wen-Yee Lee TAIPEI (Reuters) -Foxconn, the world's largest electronics maker and Nvidia's key AI server maker, said on Tuesday it will deploy humanoid robots at its Houston plant that produces AI servers for Nvidia. Reuters first reported in June that Foxconn and Nvidia were in talks to use humanoid robots at the Houston factory, targeting the first quarter of 2026. "The factory will also be among the first to deploy humanoid robots powered by the NVIDIA Isaac GR00T N model on its production lines, as Foxconn and Nvidia aim to build a world-leading benchmark AI smart factory," the company said in a statement released during Nvidia’s developers' conference in Washington, D.C. Foxconn, formally known as Hon Hai Precision Industry Co, said it will also continue scaling up AI server production in Texas, Wisconsin and California to meet rising demand. “Our team is bringing the most advanced AI data center solutions to the United States, which will help our leading customers stay ahead in the AI race,” Foxconn Chairman Young Liu said in the release. (Reporting by Wen-Yee Lee; Editing by Sonali Paul)
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By Milana Vinn NEW YORK (Reuters) -Private equity firm Francisco Partners is close to a deal to buy device management software provider Jamf, two people familiar with the matter said, taking the company private a little more than five years after its market debut. Vista Equity Partners, which owns 34% of Jamf, is expected to exit its position as part of the transaction, the sources said, asking not to be identified since the deal is confidential. The deal is expected to receive final approval on Tuesday and could be announced as early as Wednesday, one of the sources added. Jamf, Francisco Partners and Vista Equity did not immediately respond to requests for comment. The sources did not give details on the terms of the deal. Jamf had a market capitalization of approximately $1.5 billion as of Tuesday's close. The deal would end a tough run for Jamf shareholders. The company's stock has plunged 65% since its July 2020 IPO and is down roughly 32% over the past 12 months. Minneapolis-based Jamf provides device management and security solutions that enable IT teams to remotely manage Apple devices including MacBooks, iPads, and iPhones at scale. Despite posting 15% year-over-year revenue growth to $175.5 million in the second quarter and raising guidance for the year, Jamf has struggled to achieve profitability. (Reporting by Milana Vinn in New York; Editing by Dawn Kopecki and Edmund Klamann)
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(Reuters) -Australia's corporate regulator said on Wednesday the federal court has barred failed cryptocurrency exchange firm Blockchain Global's director, Ryan Xu, from leaving the country until December 20. The Australian Securities and Investments Commission (ASIC) applied for the court orders on an ex parte basis, which means that Xu has not yet had the opportunity to be heard by the court or respond to ASIC's application. "The matter is next due before the court on October 30, 2025, for an inter partes hearing," the regulator added in its statement. The ASIC is currently investigating Xu's connection with Blockchain Global's operation of a cryptocurrency exchange platform, ACX Exchange, which collapsed around December 2019, and began facing issues withdrawing funds or cryptocurrency from their accounts. The regulator had started an investigation into the firm in January 2024, following receipt of a report from the firm's liquidators, which said that Blockchain Global owed around A$58 million ($37.3 million) to unsecured creditors as of October 2, 2023. Xu is the third person from the firm under investigation by ASIC, according to the regulator's website. Blockchain Global had no published contact information and could not immediately be reached for comment. (Reporting by Jasmeen Ara Shaikh in Bengaluru; Editing by Rashmi Aich)
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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) -Nvidia CEO Jensen Huang said on Tuesday he expects to make announcements with South Korean companies that will please U.S. President Donald Trump and South Korea when he visits the country this week. Huang plans to meet global leaders and top Korean executives when he attends the Asia-Pacific Economic Cooperation CEO Summit in South Korea, the U.S. artificial intelligence chip giant said earlier. "Samsung, SK, Hyundai, LG, Naver, if you just look across the entire Korean ecosystem, every one of the companies are deep friends of mine and very good partners," he told reporters on the sidelines of the Nvidia developers' conference held in Washington on Tuesday. "And so when I go hopefully we'll have some announcements that will be really, really delightful to the people of Korea and really delightful to President Trump, but I'll save it for a few more days," he said. He said Nvidia is partnering with Samsung Electronics and Hyundai "in many ways," saying the two companies are "going to invest in AI factories." Trump is due to address a summit of CEOs and meet with South Korean President Lee Jae Myung in Gyeongju on Wednesday. (Reporting by Hyunjoo Jin in Seoul and Stephen Nellis in Washington; Editing by Sonali Paul)
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SEOUL (Reuters) -South Korea's SK Hynix posted on Wednesday a record quarterly profit, spurred by an artificial intelligence boom that has driven up demand for both advanced chips and conventional products. The Nvidia supplier reported an 11.4 trillion won ($8.02 billion) operating profit for the July-September period, up 62% from a year earlier. The figure was in line with an 11.4 trillion won forecast by LSEG SmartEstimate, which is weighted toward analysts who are more consistently accurate. Quarterly revenue for the South Korean firm rose 39% in the third quarter to 24.4 trillion won. ($1 = 1,421.4800 won) (Reporting by Heekyong Yang, Hyunjoo Jin and Joyce Lee; Editing by Leslie Adler and Jamie Freed)
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By Stephen Nellis WASHINGTON (Reuters) -Nvidia and Palantir Tech on Tuesday announced a deal in which Palantir will tap Nvidia's chips and software to help its customers speed up decision making in complex fields such as logistics. Well-known as a defense contractor, Palantir's shares have risen this year, driven by increased defense spending on its military-grade AI tools. But the Denver-based company is also pursuing corporate customers, where its platform can ingest data from many different corporate systems, such as staffing and inventory software, to give executives a real-time view of business performance. Under the deal struck Tuesday and announced at a conference in Washington, Nvidia's software will be available on Palantir's platforms. The two said they would help companies with logistics problems, such as when shipments of products from Asia to the U.S. are delayed by storms. Nvidia technology can generate potential new shipping routes around the storms and its AI agents can then compare multiple options based on product costs and customer demand in different regions to help select the best one. "Because of the speed that you do these optimizations, you can then run them hourly to re-optimize your supply chain and rethink changes," Justin Boitano, vice president of enterprise AI at Nvidia, told Reuters in an interview. The companies did not disclose the financial terms of the deal. Kevin Kawasaki, global head of business development at Palantir, said that AI systems on their own can struggle to understand vast streams of corporate data. Palantir's systems organize the data streams to reflect business conditions in a way that both humans and AI systems powered by Nvidia can use. "It's got to be tethered in reality," Kawasaki told Reuters, referring to how AI systems can help in decision making. "It's not overly predictive, so much as it's just it's very good at recognizing the present. And that's when you can start making better next-second decisions." (Reporting by Stephen Nellis in Washington; Editing by Sam Holmes)
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