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(Reuters) -Spain's Cellnex said on Friday that it has signed a put option agreement to sell all its 99.99% share capital in Towerlink France to Vauban Infra Fibre for 391 million euros ($458 million). The deal, made through the French subsidiary of Europe's largest mobile phone tower operator, will be fully paid in cash on the closing date of the transaction. In September, Reuters reported – citing people familiar with the matter – that Cellnex was discussing with advisers a potential sale of its data center business in France to focus on its core business as it shifts strategy from acquisitions to bolstering its finances. Towerlink France is the company responsible for Cellnex's main data center operations in France. Earlier this year, Cellnex sold its Austrian business for an enterprise value of 803 million euros and its Irish unit for 971 million euros. ($1 = 0.8538 euros) (Reporting by Joao Manuel Mauricio in GdanskEditing by Tomasz Janowski)

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By Gianluca Lo Nostro (Reuters) -Shares in Ray-Ban maker EssilorLuxottica hit an all-time high on Friday, surging over 10% after the eyewear giant's record quarter showed sales of its Ray-Ban Meta smart glasses gaining momentum. The Franco-Italian group reported on Thursday third-quarter sales growth of 11.7% from a year ago to 6.9 billion euros ($8.1 billion), beating expectations and marking its best quarterly performance ever. The AI-powered glasses contributed over four percentage points to sales growth, said Chief Financial Officer Stefano Grassi, with demand prompting EssilorLuxottica to accelerate production capacity plans for the glasses ahead of schedule. EssilorLuxottica's shares were up 11.7% by 0754GMT, trading up to 308 euros, and were on track to rise the most in over eight years. That would translate to almost 15 billion euros in value added to the company's 126.1 billion market capitalization. J.P. Morgan analysts said in a note to investors the smart glasses were now a "material growth driver" while the company's core business remained resilient. The latest Ray-Ban Meta models, priced from $379 to $799 for a new flagship version with built-in display, are currently sold in limited physical stores with expansion to Canada, France, Italy and Britain planned for early 2026. Barclays analysts predict smart glasses could become the most disruptive innovation since mobile phones, forecasting 60 million units sold globally by 2035. Equita analysts said in a research note they have upgraded their annual revenue forecast for wearables, and now expect an impact on the group's sales of about one billion euro this year. "The acceleration in third-quarter revenues and the level of confidence expressed on fourth-quarter and mid-term prospects are an important indicator of the success of the group’s strategic drivers," they said. EssilorLuxottica shares have gained 17% since January as of Thursday's session. ($1 = 0.8540 euros) (Reporting by Gianluca Lo Nostro, additional reporting by Laura Contemori; Editing by Milla Nissi-Prussak and Matt Scuffham)

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By Josh Smith SEONGNAM, South Korea (Reuters) -South Korea kicked off its largest-ever arms fair on Friday, with firms expected to show off new unmanned and artificial intelligence-enhanced weapons from howitzers to suicide drones, as Seoul seeks to strengthen its military and pursues more global defence sales. Organisers said a record 600 companies from 35 countries were scheduled to participate in the Seoul International Aerospace & Defense Exhibition (ADEX) 2025. This year's ADEX kicked off with three days of public air shows at an air base, including flights by its newly developed KF-21 fighter jet. The festivities will be followed next week by business exhibitions at a sprawling conference centre. Earlier this month, South Korean President Lee Jae Myung said that the country's defence budget for next year would rise 8.2% to 66.3 trillion won ($47.1 billion) as it faces more tensions around the region and a nuclear-armed North Korea. Foreign dignitaries were invited to Pyongyang earlier in October to tour North Korea's arms exhibition, which included drones and nuclear-capable ballistic missiles, followed by a grand military parade. Arms have become one of South Korea's fastest-growing exports, as it has inked multibillion-dollar deals selling everything from howitzers and ammunition to missiles and warships around the world. At this year's ADEX, Hanwha Aerospace said it would unveil next-generation versions of its popular self-propelled K9 howitzer that use automation and AI to reduce or eliminate the need for a crew. In addition, the company said it would showcase its L-PGW, a missile-launched loitering munition – also known as suicide drone – which can circle an area before using AI to identify and destroy a target. Unmanned weapons and AI will provide more capabilities and help South Korea maintain its defences, despite a shrinking population that will reduce the number of available soldiers, Hanwha said in a statement. Seok Jong-gun, the minister for the Defense Acquisition Program Administration, told parliament on Friday that its focus included developing and modernizing manned and unmanned weapons systems, while expanding its defence export markets in cooperation with the U.S., Canada, Saudi Arabia and others. “We will pursue entry into the global supply chain by expanding cooperation with the U.S. in defence shipbuilding," he said. South Korea's shipbuilding cooperation with the U.S. has become a flashpoint with China, which unveiled sanctions on Hanwha Ocean's U.S.-linked affiliates earlier this week. (Reporting by Josh Smith; Additional reporting by Jack Kim; Editing by Thomas Derpinghaus.)

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By Josh Smith SEONGNAM, South Korea (Reuters) -South Korea kicked off its largest-ever arms fair on Friday, with firms expected to show off new unmanned and artificial intelligence-enhanced weapons from howitzers to suicide drones, as Seoul seeks to strengthen its military and pursues more global defence sales. Organisers said a record 600 companies from 35 countries were scheduled to participate in the Seoul International Aerospace & Defense Exhibition (ADEX) 2025. This year's ADEX kicked off with three days of public air shows at an air base, including flights by its newly developed KF-21 fighter jet. The festivities will be followed next week by business exhibitions at a sprawling conference centre. Earlier this month, South Korean President Lee Jae Myung said that the country's defence budget for next year would rise 8.2% to 66.3 trillion won ($47.1 billion) as it faces more tensions around the region and a nuclear-armed North Korea. Foreign dignitaries were invited to Pyongyang earlier in October to tour North Korea's arms exhibition, which included drones and nuclear-capable ballistic missiles, followed by a grand military parade. Arms have become one of South Korea's fastest-growing exports, as it has inked multibillion-dollar deals selling everything from howitzers and ammunition to missiles and warships around the world. At this year's ADEX, Hanwha Aerospace said it would unveil next-generation versions of its popular self-propelled K9 howitzer that use automation and AI to reduce or eliminate the need for a crew. In addition, the company said it would showcase its L-PGW, a missile-launched loitering munition – also known as suicide drone – which can circle an area before using AI to identify and destroy a target. Unmanned weapons and AI will provide more capabilities and help South Korea maintain its defences, despite a shrinking population that will reduce the number of available soldiers, Hanwha said in a statement. Seok Jong-gun, the minister for the Defense Acquisition Program Administration, told parliament on Friday that its focus included developing and modernizing manned and unmanned weapons systems, while expanding its defence export markets in cooperation with the U.S., Canada, Saudi Arabia and others. “We will pursue entry into the global supply chain by expanding cooperation with the U.S. in defence shipbuilding," he said. South Korea's shipbuilding cooperation with the U.S. has become a flashpoint with China, which unveiled sanctions on Hanwha Ocean's U.S.-linked affiliates earlier this week. (Reporting by Josh Smith; Additional reporting by Jack Kim; Editing by Thomas Derpinghaus.)

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(Reuters) -Shares of Ray-Ban maker EssilorLuxottica surged more than 9% in early trading on Friday after the Franco-Italian group reported better than expected quarterly revenue a day earlier, helped by strong demand for its Meta AI glasses. The eyewear giant's stock exceeded 300 euros per share in early Paris trading, its highest price ever. (Reporting by Gianluca Lo Nostro; Editing by Milla Nissi-Prussak)

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(Reuters) -Spain's Cellnex said on Friday that it has signed a put option agreement to sell all its 99.99% share capital in Towerlink France to Vauban Infra Fibre for 391 million euros ($458 million). The deal, made through the French subsidiary of Europe's largest mobile phone tower operator, will be fully paid in cash on the closing date of the transaction. In September, Reuters reported – citing people familiar with the matter – that Cellnex was discussing with advisers a potential sale of its data center business in France to focus on its core business as it shifts strategy from acquisitions to bolstering its finances. Towerlink France is the company responsible for Cellnex's main data center operations in France. Earlier this year, Cellnex sold its Austrian business for an enterprise value of 803 million euros and its Irish unit for 971 million euros. ($1 = 0.8538 euros) (Reporting by Joao Manuel Mauricio in GdanskEditing by Tomasz Janowski)

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By Hyunjoo Jin and Brenda Goh SEOUL/SHANGHAI (Reuters) -Micron plans to stop supplying server chips to data centres in China after the business failed to recover from a 2023 government ban on its products in critical Chinese infrastructure, two people briefed on the decision said. Micron was the first U.S. chipmaker to be targeted by Beijing – a move that was seen as retaliatory for a series of curbs by Washington aimed at impeding tech progress by China's semiconductor industry. Since then, both Nvidia and Intel chips have similarly fielded accusations from Chinese authorities and an industry group of posing security risks, though there has not been any regulatory action. LENOVO TO REMAIN A CUSTOMER Micron will continue to sell to two Chinese customers that have significant data centre operations outside China, one of which is laptop maker Lenovo, the people said. The U.S. company, which made $3.4 billion or 12% of its total revenue from mainland China in its last business year, will also continue to sell chips to auto and mobile phone sector customers in the world's second-largest economy, one person said. Asked about the exit from its China data centre business, Micron said in a statement to Reuters that the division had been impacted by the ban, and it abides by applicable regulations where it does business. Lenovo did not immediately respond to a request for comment. U.S.-Sino trade tensions and tech rivalry have only escalated since 2018, when U.S. President Donald Trump began imposing tariffs on Chinese goods during his first term. That same year, Washington ramped up accusations against Chinese tech giant Huawei, accusing it of representing a national security risk, imposing sanctions a year later. Huawei has denied those charges. Nvidia and Intel have also denied charges that their products pose risks to Chinese national security. Micron also said in 2023, before the conclusion of China's probe, that it stood by the security of its products. Currently, the U.S. has sanctioned hundreds of Chinese entities. China, which is more reliant on imported tech, has taken far fewer regulatory actions. LOSING OUT ON CHINA'S AI BOOM The ban on Micron products in critical infrastructure by China – the world's second-largest market for server memory – has meant the company has missed out on the country's data centre expansion boom. That's benefited rivals Samsung Electronics and SK Hynix, as well as Chinese companies YMTC and CXMT, which have been aggressively expanding with the support of the Chinese government. Investment by data centres used in computing in China surged ninefold to 24.7 billion yuan ($3.4 billion) last year, according to a Reuters review of government procurement documents. That said, Micron's challenges in China have been offset by huge demand for data centres and related tools elsewhere, thanks to the global adoption of artificial intelligence. That's helped the company report record quarterly revenue. According to a third source, Micron's data centre team in China employs over 300 people. Reuters was not able to immediately establish how many jobs may be affected. Micron has been downsizing in other areas in China. In August, it laid off a few hundred people in its universal flash storage programme after deciding to cease development of future mobile NAND products globally, according to the South China Morning Post. Areas where it has continued to expand in China include its chip packaging facility in the city of Xian. "We have a strong operating and customer presence in China, and China remains an important market for Micron and the semiconductor industry in general," Micron said in its statement to Reuters. ($1 = 7.1224 Chinese yuan) (Reporting by Hyunjoo Jin in Seoul, Brenda Goh in Shanghai and Liam Mo in Beijing; Editing by Miyoung Kim and Edwina Gibbs)

(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 Hyunjoo Jin and Brenda Goh SEOUL/SHANGHAI (Reuters) -Micron plans to stop supplying server chips to data centres in China after the business failed to recover from a 2023 government ban on its products in critical Chinese infrastructure, two people briefed on the decision said. Micron was the first U.S. chipmaker to be targeted by Beijing – a move that was seen as retaliatory for a series of curbs by Washington aimed at impeding tech progress by China's semiconductor industry. Since then, both Nvidia and Intel chips have similarly fielded accusations from Chinese authorities and an industry group of posing security risks, though there has not been any regulatory action. LENOVO TO REMAIN A CUSTOMER Micron will continue to sell to two Chinese customers that have significant data centre operations outside China, one of which is laptop maker Lenovo, the people said. The U.S. company, which made $3.4 billion or 12% of its total revenue from mainland China in its last business year, will also continue to sell chips to auto and mobile phone sector customers in the world's second-largest economy, one person said. Asked about the exit from its China data centre business, Micron said in a statement to Reuters that the division had been impacted by the ban, and it abides by applicable regulations where it does business. Lenovo did not immediately respond to a request for comment. U.S.-Sino trade tensions and tech rivalry have only escalated since 2018, when U.S. President Donald Trump began imposing tariffs on Chinese goods during his first term. That same year, Washington ramped up accusations against Chinese tech giant Huawei, accusing it of representing a national security risk, imposing sanctions a year later. Huawei has denied those charges. Nvidia and Intel have also denied charges that their products pose risks to Chinese national security. Micron also said in 2023, before the conclusion of China's probe, that it stood by the security of its products. Currently, the U.S. has sanctioned hundreds of Chinese entities. China, which is more reliant on imported tech, has taken far fewer regulatory actions. LOSING OUT ON CHINA'S AI BOOM The ban on Micron products in critical infrastructure by China – the world's second-largest market for server memory – has meant the company has missed out on the country's data centre expansion boom. That's benefited rivals Samsung Electronics and SK Hynix, as well as Chinese companies YMTC and CXMT, which have been aggressively expanding with the support of the Chinese government. Investment by data centres used in computing in China surged ninefold to 24.7 billion yuan ($3.4 billion) last year, according to a Reuters review of government procurement documents. That said, Micron's challenges in China have been offset by huge demand for data centres and related tools elsewhere, thanks to the global adoption of artificial intelligence. That's helped the company report record quarterly revenue. According to a third source, Micron's data centre team in China employs over 300 people. Reuters was not able to immediately establish how many jobs may be affected. Micron has been downsizing in other areas in China. In August, it laid off a few hundred people in its universal flash storage programme after deciding to cease development of future mobile NAND products globally, according to the South China Morning Post. Areas where it has continued to expand in China include its chip packaging facility in the city of Xian. "We have a strong operating and customer presence in China, and China remains an important market for Micron and the semiconductor industry in general," Micron said in its statement to Reuters. ($1 = 7.1224 Chinese yuan) (Reporting by Hyunjoo Jin in Seoul, Brenda Goh in Shanghai and Liam Mo in Beijing; Editing by Miyoung Kim and Edwina Gibbs)

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By Joice Alves LONDON (Reuters) -The boom in investment in artificial intelligence is starting to be felt for the first time in currency markets across Europe, and analysts reckon the Swedish crown and sterling stand to benefit the most. Trading in the almost $10 trillion-a-day FX markets this year has been driven by broad dollar weakness given tariff-related concerns and U.S. rate cut expectations. But dig deeper and the impact of AI, which has helped drive stocks to record highs, is rippling across to currencies. According to JPMorgan, the resilience of the Swedish crown, or krona, and sterling in recent months may be partially attributable to tech as Sweden and Britain stand out on measures of AI investment and their currencies are receiving a tailwind from this dynamic, even if only a small one. By one measure, the UK and Sweden received just over $4 billion each last year in private AI investments, ranking third and fourth in a Stanford University AI index of biggest beneficiaries of such investments, behind the United States and China.  Sweden's krona is the strongest-performing major European currency against a weak dollar so far this year, having climbed almost 15%. Sterling has rallied 7%.     Dissecting the exact impact of AI on currency moves is hard, analysts say, given other factors at play such as interest rate expectations or fiscal unease, especially with sterling. "Large AI investments have been announced for both countries," said Rabobank's head of FX strategy Jane Foley. "The inward investment could certainly have created some demand for sterling and Swedish crown respectively and created some resilience".  The crown is also up against the euro and other Scandinavian currencies. Sterling, hurt by fiscal worries, is down against the euro and Swiss franc, however. Investments in Swedish AI companies, which bring higher demand for crowns, would cause a visible spike in the currency, while the impact of such investments on sterling would be less visible because it is already so heavily traded, Rabobank's Foley said.   Sterling is the world's fourth most-traded currency, accounting for just over 10% of all trades, while Sweden's crown accounts for less than 2%, according to the Bank for International Settlements. BIG PROMISES Britain and the United States last month agreed a technology pact, with top U.S. firms led by Microsoft pledging 31 billion pounds ($42 billion) in UK investments. AI giant Nvidia plans to provide its data centre platform to Swedish companies including telecoms gear maker Ericsson, and drug developer AstraZeneca. Microsoft, Facebook's owner Meta, Google's owner Alphabet and Canada's Brookfield Asset Management plan data centres in Sweden given the country's reliable electricity supplies and infrastructure. While it's too soon to say what impact AI will have on economic growth or unemployment, which could potentially add to strains on public finances, the announcements offered a favourable backdrop for the krona and sterling, analysts said. A report by SEB released earlier this year looking at major Swedish participants in the FX market showed their net overweight position in the crown was close to record highs. Societe Generale head of corporate research for FX and rates Kenneth Broux said U.S. tech investment pledges can diminish pessimism ahead of Britain's November budget, when taxes are expected to rise, lifting sterling's appeal. Latest CFTC positioning shows investors are neither heavily in favour nor against sterling. Speculators have eroded bullish dollar positions against the pound from August's almost three-year high of $3.3 billion to just $165 million, reflecting waning conviction that the greenback will rally against sterling. "What AI does potentially change is the outlook for productivity growth, the Achilles' heel of the UK economy", said Broux.  An aging population in the West opens the door to “reskilling and upskilling” which can help keep a lid on welfare payments and potential unemployment benefits caused by AI, he added.  Some are broadly positive on sterling. Investment firm St James's Place has an overweight position. Deutsche Bank expects sterling to rise to $1.45 over the next couple of years, compared with roughly $1.34 currently.  And HSBC Private Bank's global CIO Willem Sels said that while his near-term view on sterling was not too positive given the looming budget, he sensed that investor sentiment towards the UK was more "constructive" than it appears. "One of the reasons for that is that people see the UK as a relatively interesting destination for AI-related investment," Sels said.   "This is why we also saw (Nvidia CEO) Jensen Huang sitting next to the Prime Minister (Keir Starmer earlier this year) and talking about the strength of the UK." (Reporting by Joice Alves; Editing by Dhara Ranasinghe and Hugh Lawson)

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By Kane Wu and Yantoultra Ngui HONG KONG/SINGAPORE (Reuters) -DayOne, a global data centre operator affiliated with GDS Holdings, one of China's largest data centre operators, is seeking to raise more than $1 billion in a new funding round, four people with knowledge of the matter said. DayOne, formerly known as GDS International, has tapped new and existing shareholders for the series C fundraising, which will support its growth plans in Southeast Asia and Europe, said the people, who declined to be named as the information was confidential. DayOne could be valued at $4 billion to $5 billion in the funding round before new capital is injected, two of the sources said. New investors, including major global infrastructure funds and Middle Eastern sovereign wealth funds, were approached for the new round, the sources said. DayOne confirmed the equity fundraising via email late on Thursday, clarifying that the effort was independent of GDS. Reuters previously reported that GDS was raising capital for DayOne, its international unit. DayOne did not comment on the fundraising details. GDS did not respond to requests for comment. DAYONE SEPARATED FROM GDS Shanghai-based GDS established GDS International in Singapore in 2022, which was rebranded as DayOne in January after its separation from the parent company. The international business has raised a total of about $1.8 billion from two funding rounds in 2024, according to GDS statements. Singapore-based DayOne's current investors include Hillhouse Investment, Boyu Capital, U.S. investment firm Coatue Management and the SoftBank Vision Fund, the statements said. GDS was seeking to build up DayOne and list it separately in the mid- to long-term, said one of the sources and a separate person with knowledge of its plans. In its email on Thursday, DayOne said GDS is one of its founding investors but DayOne is not part of GDS's corporate structure and it operates under a distinct ownership and governance framework, with its own management team, board and investors. GDS founder, chairman and chief executive William Huang is also chairman of DayOne, according to DayOne's website. After the $1.2 billion series B funding round in December 2024, GDS's stake in DayOne was diluted to 35.6% from 52.7%, which valued it at around $1.3 billion, equivalent to about $6.75 per American Depositary Share of GDS, it said at the time. GDS deconsolidated the international unit following that round for accounting purposes, recognising it as an equity investee, it said, adding that it would not have the right to appoint the majority of its board directors. DayOne's portfolio of assets included some 480 megawatts of data centre capacity that are in service or under construction and an additional 590 MW reserved for future development across strategic locations in Hong Kong, Singapore, Malaysia, Indonesia and Japan, GDS has said. In August, DayOne unveiled a 1.2 billion euro ($1.4 billion) investment in a hyperscale data centre campus in Lahti, Finland, marking its first entry into Europe. (Reporting by Kane Wu in Hong Kong and Yantoultra Ngui in Singapore; Editing by Joe Bavier and Thomas Derpinghaus.)

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