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By Rashika Singh (Reuters) -Intel shares surged as much as 7.8% in early trading on Friday, hitting an 18-month high, as investors rallied behind CEO Lip-Bu Tan's aggressive cost-cutting measures that helped the chipmaker surpass quarterly profit estimates and regain stability amid a flurry of high-stakes bets on future growth. The results mark a turning point for Intel, which has struggled to maintain relevance in the face of fierce competition and manufacturing setbacks. After a bruising 2024 that saw its first annual loss in nearly four decades, the company is now leaning on strategic investments and operational discipline to rebuild investor confidence. STEADYING THE SHIP Intel also drew support during the quarter from multi-billion-dollar investments by Nvidia and Japan's SoftBank as well as a U.S. government stake, moves that offered a financial cushion as it works to revive growth. These investments, along with Tan's turnaround efforts, have offered a lifeline to the stock, which has rebounded by more than 90% in 2025, through last close, outperforming AI chip leaders Nvidia and AMD. Intel trades at a 12-month forward price-to-earnings ratio of 71.51 versus 30.49 for Nvidia and 40.14 for AMD. "Intel has turned a corner and is steadying the ship," said Ben Bajarin, CEO of Creative Strategies. "It feels like a strong setup for 2026." Intel shares were last up nearly 2% in morning trading. TURNAROUND FAR FROM OVER Intel said demand for its chips was outpacing supply, particularly in data centers where operators are upgrading central processing units (CPUs) to support AI workloads. However, finance chief Dave Zinsner cautioned that yields for its advanced 18A manufacturing process will remain below industry standards and won't reach "acceptable levels" until 2027. Tan has also sold a majority stake in Altera and shifted Intel's capital strategy to rely more on external commitments, following criticism of his predecessor's spending-heavy approach. He has pared back Intel's manufacturing ambitions and cut over 20% of the workforce. "We understand the desire to claim victory for the embattled company, but this fight is far from over; perhaps it's better to call it a draw for now," analysts at Bernstein said. (Reporting by Rashika Singh and Arsheeya Bajwa in Bengaluru; additional reporting by Alun John in London; Editing by Joice Alves and Saumyadeb Chakrabarty)

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By Naomi Rovnick LONDON (Reuters) -Major investors, spooked by AI exuberance yet wary of betting against it, are shifting from hyped-up stocks into potential next-in-line winners, reviving a strategy from the 1990s dotcom era that helped some sidestep the crash. As U.S. stocks have hit successive records and AI chipmaker Nvidia's valuation has surged beyond $4 trillion, professional investors have been trying to find ways to make money from the bull market while avoiding excessive risk. Some are looking back to the 1990s internet boom, which spread from startups to telecoms and tech, and where hedge funds rode the wave by flipping out of highly-valued stocks before they peaked and picking others that had room to rise. "What we are doing is what worked from 1998 to 2000," said Francesco Sandrini, multi-asset head and Italy CIO at Europe’s largest asset manager Amundi. He highlighted signs of irrational exuberance on Wall Street, such as frenzied trading in risky options pegged to the share prices of big AI stocks. But he said he expected the new tech enthusiasm to continue and hoped to bank gains via bets on reasonably valued assets that might rally next. Sandrini said this involved trying to find "the highest growth opportunities that so far the market had failed to spot", with moves into software groups, robotics and Asian tech. Other investors also expected to edge out of Wall Street's Magnificent Seven stocks after shares in Nvidia more than tripled in two years, but want to keep their diversification within the AI sphere. ASSET MANAGERS NEED TO BE NIMBLE TO RIDE THE WAVE "The odds of this (AI boom) being a bust are very high because you've got companies spending trillions and all fighting for the same market that does not yet exist," said Goshawk Asset Management CIO Simon Edelsten, who worked on telecom IPOs at stockbroker Dresdner Kleinwort Benson in London in 1999. He expected the next phase of AI fever to spread from Nvidia and others like Microsoft and Alphabet into related sectors. Timing the phases of a bubble has historically been a way to play it without the risk of trying to call the peak too early. A study by economists Markus Brunnermeir and Stefan Nagel showed that hedge funds mostly did not bet against the dotcom bubble, but rode it skillfully enough to beat the market by about 4.5% per quarter from 1998-2000 and avoid the worst of the downturn. They shed high-priced internet stocks in time to recycle profits into others before they caught the attention of less sophisticated investors. "There were good profits to be made for the fleet of foot even during 2000 when the top came," Edelsten at Goshawk said, adding the current market environment was similar to 1999. He favoured IT consultants and Japanese robotics groups that can potentially pick up revenues from AI heavyweights, in what he said was the typical chronology of a market gold rush. "When someone strikes gold, (you) buy the local hardware store where the prospectors will buy all their shovels." INVESTORS TRY TO STAY IN AI WITHOUT EXCESSIVE RISK Investors are also attempting to benefit from the trillions of dollars so-called hyperscalers such as Amazon, Microsoft and Alphabet are committing to AI data centres and advanced chips without taking on more direct exposure to these companies. Fidelity International multi-asset manager Becky Qin said uranium was her favoured new AI trade because power-hungry AI data centres could gobble up nuclear energy. Kevin Thozet, investment committee member at asset manager Carmignac, was taking profits on Magnificent Seven stocks and building up a position in Taiwan's Gudeng Precision, which makes delivery boxes for AI chipmakers including TSMC. Asset managers are also concerned that the rush to build data centres could result in overcapacity, as in the fiber-optic cable boom in the telecoms industry. "In any new technological paradigm we don't get from A to B without excesses along the way," said Pictet Asset Management senior multi-asset strategist Arun Sai. Even though top AI stocks like Microsoft, Amazon, and Alphabet are being powered by strong earnings, he still sees "the building blocks of a bubble" and favours Chinese stocks as a hedge if rapid AI advancements in China sap Wall Street's AI enthusiasm. Some investors, though, do not favour this relative value approach to AI investing as a way to mitigate future losses. Oliver Blackbourn, portfolio manager at Janus Henderson, said he was hedging his U.S. tech positions with European and healthcare assets lest an AI stock crash takes the U.S. economy down with it. He said it was impossible to forecast how long the AI craze would roll on because calling the peak was usually only possible with hindsight. "We're in 1999 until the bubble pops." (Reporting by Naomi Rovnick; editing by Dhara Ranasinghe and Jane Merriman)

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(Corrects headline and paragraph one to reflect that the algorithm performs error correct and not quantum computing; corrects Jay Gambetta's title in paragraph 5) By Stephen Nellis SAN FRANCISCO (Reuters) -IBM said on Friday it is able to run a key quantum computing error correction algorithm on commonly available chips from Advanced Micro Devices, in a step toward commercializing super-powerful computers. The U.S. stalwart is racing to develop quantum computing against Microsoft and Alphabet's Google, which announced a breakthrough algorithm this week. Quantum computers use what are known as qubits to tackle problems that would take conventional computers thousands of years to crack – problems such as how trillions of atoms react over time. However, qubits are prone to errors that can quickly overwhelm the useful computing work of a quantum chip. In June, IBM said it had developed an algorithm to run alongside quantum chips that can address such errors. In a research paper seen by Reuters to be published Monday, IBM will show that it can run those algorithms in real time on a type of chip called a field programmable gate array manufactured by AMD. Jay Gambetta, director of IBM research, said the work showed that IBM's algorithm not only works in the real world, but can operate on a readily available AMD chip that is not "ridiculously expensive."  "Implementing it, and showing that the implementation is actually 10 times faster than what is needed, is a big deal," Gambetta said in an interview. IBM has a multi-year plan to build a quantum computer called Starling by 2029. Gambetta said the algorithm work disclosed Friday was completed a year ahead of schedule. (Reporting by Stephen Nellis in San Francisco; Editing by Christopher Cushing)

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By Benoit Van Overstraeten and Alessandro Parodi BRUSSELS (Reuters) -U.S. tech giant Meta and Chinese-owned social media app TikTok breached their legal obligation to grant researchers adequate access to public data, the European Commission said in preliminary findings of an investigation released on Friday. The European Union has cracked down on Big Tech using the Digital Services Act, which requires large platforms such as social media sites and search engines to have robust measures in place to mitigate the spread of illegal and harmful content. A Meta spokesperson told Reuters the company disagreed with the suggestion that it breached the DSA. TikTok, meanwhile, said it was committed to transparency. "Allowing researchers access to platforms' data is an essential transparency obligation under the DSA, as it provides public scrutiny into the potential impact of platforms on our physical and mental health," the Commission said in a statement. The Commission added that Meta's Facebook and Instagram did not appear to provide a user-friendly and easily accessible mechanism for flagging illegal content, such as child sexual abuse material and terrorist content. "The Commission's preliminary findings show that Facebook, Instagram and TikTok may have put in place burdensome procedures and tools for researchers to request access to public data", the EU executive said. Meta currently has mechanisms that impose several unnecessary steps and additional demands on users and use "deceptive interface designs", it said. "Such practices can be confusing and dissuading. Meta's mechanisms to flag and remove illegal content may therefore be ineffective," it said. COMPANIES CAN REMEDY BREACHES, RISK LARGE FINES The companies now have the possibility of examining the Commission's findings and taking measures to remedy the breaches, it said, adding that the preliminary findings do not prejudge the final outcome of the investigation. The Meta spokesperson said the company would continue to negotiate with the Commission. "We have introduced changes to our content reporting options, appeals process, and data access tools since the DSA came into force and are confident that these solutions match what is required under the law in the EU," they said. A TikTok spokesperson said it was reviewing the findings. "But requirements to ease data safeguards place the DSA and GDPR in direct tension," spokesperson said, referring to the General Data Protection Regulation, the EU's regulation on information privacy. "If it is not possible to fully comply with both, we urge regulators to provide clarity on how these obligations should be reconciled," the spokesperson added. If the findings of the Commission are confirmed by relevant consultations, it may impose a fine on the companies of as much as 6% of their annual global sales. (Reporting by Benoit Van Overstraeten and Alessandro Parodi, additionnal reporting by Supantha Mukherjee; Editing by 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 Benoit Van Overstraeten and Alessandro Parodi BRUSSELS (Reuters) -U.S. tech giant Meta and Chinese-owned social media app TikTok breached their legal obligation to grant researchers adequate access to public data, the European Commission said in preliminary findings of an investigation released on Friday. The European Union has cracked down on Big Tech using the Digital Services Act, which requires large platforms such as social media sites and search engines to have robust measures in place to mitigate the spread of illegal and harmful content. A Meta spokesperson told Reuters the company disagreed with the suggestion that it breached the DSA. TikTok, meanwhile, said it was committed to transparency. "Allowing researchers access to platforms' data is an essential transparency obligation under the DSA, as it provides public scrutiny into the potential impact of platforms on our physical and mental health," the Commission said in a statement. The Commission added that Meta's Facebook and Instagram did not appear to provide a user-friendly and easily accessible mechanism for flagging illegal content, such as child sexual abuse material and terrorist content. "The Commission's preliminary findings show that Facebook, Instagram and TikTok may have put in place burdensome procedures and tools for researchers to request access to public data", the EU executive said. Meta currently has mechanisms that impose several unnecessary steps and additional demands on users and use "deceptive interface designs", it said. "Such practices can be confusing and dissuading. Meta's mechanisms to flag and remove illegal content may therefore be ineffective," it said. COMPANIES CAN REMEDY BREACHES, RISK LARGE FINES The companies now have the possibility of examining the Commission's findings and taking measures to remedy the breaches, it said, adding that the preliminary findings do not prejudge the final outcome of the investigation. The Meta spokesperson said the company would continue to negotiate with the Commission. "We have introduced changes to our content reporting options, appeals process, and data access tools since the DSA came into force and are confident that these solutions match what is required under the law in the EU," they said. A TikTok spokesperson said it was reviewing the findings. "But requirements to ease data safeguards place the DSA and GDPR in direct tension," spokesperson said, referring to the General Data Protection Regulation, the EU's regulation on information privacy. "If it is not possible to fully comply with both, we urge regulators to provide clarity on how these obligations should be reconciled," the spokesperson added. If the findings of the Commission are confirmed by relevant consultations, it may impose a fine on the companies of as much as 6% of their annual global sales. (Reporting by Benoit Van Overstraeten and Alessandro Parodi, additionnal reporting by Supantha Mukherjee; Editing by 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.)

BRUSSELS (Reuters) -The European Commission said on Friday that U.S. Big Tech giant Meta and Chinese-owned social media app TikTok breach their obligation to grant researchers adequate access to public data under the Digital Services Act (DSA) according to its preliminary findings. In a statement, the Commission also said that Meta's Facebook and Instagram do not appear to provide a user-friendly and easily accessible mechanism for users to flag illegal content, such as child sexual abuse material and terrorist content. The EU has cracked down on Big Tech companies with the Digital Services Act, which requires large platforms such as social media sites and search engines to have robust measures to mitigate the spread of illegal and harmful content. "The Commission's preliminary findings show that Facebook, Instagram and TikTok may have put in place burdensome procedures and tools for researchers to request access to public data", the EU executive said about the transparency issue. "Allowing researchers access to platforms' data is an essential transparency obligation under the DSA, as it provides public scrutiny into the potential impact of platforms on our physical and mental health." On Meta hindering the reporting of illegal content, the Commission said the company currently has mechanisms that impose several unnecessary steps and additional demands on users and use "deceptive interface designs". "Such practices can be confusing and dissuading. Meta's mechanisms to flag and remove illegal content may therefore be ineffective. Under the DSA, 'Notice and Action' mechanisms are key to allowing EU users … to inform online platforms that certain content does not comply with EU or national laws", it said. The Commission added the companies now have the possibility to examine its findings and take measures to remedy the breaches, adding that the preliminary findings do not prejudge the outcome of the investigation. But if the findings of the Commission are confirmed by relevant consultations, it may impose a fine on the companies of as much as 6% of their annual global sales. (Reporting by Benoit Van Overstraeten; Editing by Alessandro Parodi)

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

BRUSSELS (Reuters) -The European Commission said on Friday that U.S. Big Tech giant Meta and Chinese-owned social media app TikTok breach their obligation to grant researchers adequate access to public data under the Digital Services Act (DSA) according to its preliminary findings. In a statement, the Commission also said that Meta's Facebook and Instagram do not appear to provide a user-friendly and easily accessible mechanism for users to flag illegal content, such as child sexual abuse material and terrorist content. The EU has cracked down on Big Tech companies with the Digital Services Act, which requires large platforms such as social media sites and search engines to have robust measures to mitigate the spread of illegal and harmful content. "The Commission's preliminary findings show that Facebook, Instagram and TikTok may have put in place burdensome procedures and tools for researchers to request access to public data", the EU executive said about the transparency issue. "Allowing researchers access to platforms' data is an essential transparency obligation under the DSA, as it provides public scrutiny into the potential impact of platforms on our physical and mental health." On Meta hindering the reporting of illegal content, the Commission said the company currently has mechanisms that impose several unnecessary steps and additional demands on users and use "deceptive interface designs". "Such practices can be confusing and dissuading. Meta's mechanisms to flag and remove illegal content may therefore be ineffective. Under the DSA, 'Notice and Action' mechanisms are key to allowing EU users … to inform online platforms that certain content does not comply with EU or national laws", it said. The Commission added the companies now have the possibility to examine its findings and take measures to remedy the breaches, adding that the preliminary findings do not prejudge the outcome of the investigation. But if the findings of the Commission are confirmed by relevant consultations, it may impose a fine on the companies of as much as 6% of their annual global sales. (Reporting by Benoit Van Overstraeten; Editing by Alessandro Parodi)

(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 Stephen Nellis SAN FRANCISCO (Reuters) -IBM said on Friday it is able to run a key quantum computing algorithm on commonly available chips from Advanced Micro Devices, in a step toward commercializing super-powerful computers. The U.S. stalwart is racing to develop quantum computing against Microsoft and Alphabet's Google, which announced a breakthrough algorithm this week. Quantum computers use what are known as qubits to tackle problems that would take conventional computers thousands of years to crack – problems such as how trillions of atoms react over time. However, qubits are prone to errors that can quickly overwhelm the useful computing work of a quantum chip. In June, IBM said it had developed an algorithm to run alongside quantum chips that can address such errors. In a research paper seen by Reuters to be published Monday, IBM will show that it can run those algorithms in real time on a type of chip called a field programmable gate array manufactured by AMD. Jay Gambetta, the IBM vice president running the firm's quantum efforts, said the work showed that IBM's algorithm not only works in the real world, but can operate on a readily available AMD chip that is not "ridiculously expensive."  "Implementing it, and showing that the implementation is actually 10 times faster than what is needed, is a big deal," Gambetta said in an interview. IBM has a multi-year plan to build a quantum computer called Starling by 2029. Gambetta said the algorithm work disclosed Friday was completed a year ahead of schedule. (Reporting by Stephen Nellis in San Francisco; Editing by Christopher Cushing)

(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 Stephen Nellis SAN FRANCISCO (Reuters) -IBM said on Friday it is able to run a key quantum computing algorithm on commonly available chips from Advanced Micro Devices, in a step toward commercializing super-powerful computers. The U.S. stalwart is racing to develop quantum computing against Microsoft and Alphabet's Google, which announced a breakthrough algorithm this week. Quantum computers use what are known as qubits to tackle problems that would take conventional computers thousands of years to crack – problems such as how trillions of atoms react over time. However, qubits are prone to errors that can quickly overwhelm the useful computing work of a quantum chip. In June, IBM said it had developed an algorithm to run alongside quantum chips that can address such errors. In a research paper seen by Reuters to be published Monday, IBM will show that it can run those algorithms in real time on a type of chip called a field programmable gate array manufactured by AMD. Jay Gambetta, the IBM vice president running the firm's quantum efforts, said the work showed that IBM's algorithm not only works in the real world, but can operate on a readily available AMD chip that is not "ridiculously expensive."  "Implementing it, and showing that the implementation is actually 10 times faster than what is needed, is a big deal," Gambetta said in an interview. IBM has a multi-year plan to build a quantum computer called Starling by 2029. Gambetta said the algorithm work disclosed Friday was completed a year ahead of schedule. (Reporting by Stephen Nellis in San Francisco; Editing by Christopher Cushing)

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(Corrects formatting of company ticker symbol in first paragraph) By Rashika Singh (Reuters) -Intel shares surged nearly 9% in premarket trading on Friday as investors rallied behind CEO Lip-Bu Tan's aggressive cost-cutting measures that helped the chipmaker surpass quarterly profit estimates and regain stability amid a flurry of high-stakes bets on future growth. The results mark a turning point for Intel, which has struggled to maintain relevance in the face of fierce competition and manufacturing setbacks. After a bruising 2024 that saw its first annual loss in nearly four decades, the company is now leaning on strategic investments and operational discipline to rebuild investor confidence. STEADYING THE SHIP Intel also drew support during the quarter from multi-billion-dollar investments by Nvidia and Japan's SoftBank as well as a U.S. government stake, moves that offered a financial cushion as it works to revive growth. These investments, along with Tan's turnaround efforts, have offered a lifeline to the stock, which has rebounded by more than 90% in 2025, outperforming AI chip leaders Nvidia and AMD. Intel trades at a 12-month forward price-to-earnings ratio of 71.51 versus 30.49 for Nvidia and 40.14 for AMD. "Intel has turned a corner and is steadying the ship," said Ben Bajarin, CEO of Creative Strategies. "It feels like a strong setup for 2026." TURNAROUND FAR FROM OVER Intel said demand for its chips was outpacing supply, particularly in data centers where operators are upgrading central processing units (CPUs) to support AI workloads. However, finance chief Dave Zinsner cautioned that yields for its advanced 18A manufacturing process will remain below industry standards and won't reach "acceptable levels" until 2027. Tan has also sold a majority stake in Altera and shifted Intel's capital strategy to rely more on external commitments, following criticism of his predecessor's spending-heavy approach. He has pared back Intel's manufacturing ambitions and cut over 20% of the workforce. "We understand the desire to claim victory for the embattled company, but this fight is far from over; perhaps it's better to call it a draw for now," analysts at Bernstein said. (Reporting by Rashika Singh and Arsheeya Bajwa in Bengaluru; additional reporting by Alun John in London; Editing by Joice Alves and Saumyadeb Chakrabarty)

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