Samsung profit surges over eight-fold to beat estimates as AI boom fuels memory chip crunch

Samsung profit surges over eight-fold to beat estimates as AI boom fuels memory chip crunch

The Samsung exhibition stand features the prominent ”A new era of mobile agentic AI” slogan by the South Korean company Samsung Electronics. Joan Cros | Nurphoto | Getty Images Samsung Electronics reported an over eight-fold increase in first-quarter operating profits on Thursday, hitting a new record and beating analysts’ estimates on the explosive growth of…

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Oil extends gains with Brent at 0 as fears of an extended U.S.-Iran conflict rise

Oil extends gains with Brent at $120 as fears of an extended U.S.-Iran conflict rise

Alexander Manzyuk | Reuters Oil extended gains Thursday on signs of a prolonged U.S. blockade of Iranian exports and stalled nuclear negotiations, stoking fears that supplies will remain tight for longer. The gains come as Axios reported that Trump had rejected Tehran’s proposal to reopen the Strait of Hormuz, signaling the naval blockade will remain…

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Alphabet increases AI spending but gets rewarded for further proof that it’s paying off

Alphabet increases AI spending but gets rewarded for further proof that it’s paying off

Alphabet reported a monster quarter, with revenue more than $2.5 billlion ahead of expectations and earnings nearly doubling the Street estimate. Revenue in the first quarter increased 22% year-over-year to $109.9 billion, well ahead of the $107.2 billion expected, according to LSEG data. Earnings per share surged 82% to $5.11, well ahead of the LSEG-compiled…

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Cultural groups urge federal judge to block Kennedy Center renovations

Cultural groups urge federal judge to block Kennedy Center renovations

WASHINGTON — A group of cultural and historic preservation organizations pressed a federal judge Wednesday to block President Donald Trump from making major renovations to the Kennedy Center, the art and cultural venue that has seen rapid transformation since the president returned to office last year. The groups want U.S. District Judge Christopher Cooper to…

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