BlackRock bets on ‘pick and shovel’ trade as AI spending frenzy still has legs

BlackRock bets on ‘pick and shovel’ trade as AI spending frenzy still has legs

Ben Powell, chief strategist for Middle East and Asia Pacific at BlackRock Investment Institute, at the Abu Dhabi Finance Week (ADFW) conference. Bloomberg | Getty Images The wave of capital pouring into artificial intelligence infrastructure is far from peaking, said Ben Powell, chief investment strategist for APAC at BlackRock, arguing the sector’s “picks and shovels”…

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Glastonbury mixed pop and politics long before the Bob Vylan controversy

Glastonbury mixed pop and politics long before the Bob Vylan controversy

LONDON — The Glastonbury Festival is making headlines for controversy rather than music. The likes of Olivia Rodrigo, Rod Stewart, Neil Young, Charli XCX, Busta Rhymes and Doechii played to tens of thousands onsite, and millions more on TV, during Britain’s biggest and most famous music extravaganza. But it’s little-known rap-punk duo Bob Vylan attracting…

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TSMC posts record profits on continued AI demand

TSMC posts record profits on continued AI demand

Taiwan Semiconductor Manufacturing Company’s logo is seen in the background beside a printed circuit board. Sopa Images | Lightrocket | Getty Images Taiwan Semiconductor Manufacturing Company on Thursday reported a 58% increase in first-quarter profit, beating estimates and hitting a fresh record as demand for artificial intelligence chips stayed strong. Here are the company’s results…

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