third quarter

US chip restrictions hinder AI ambitions of China’s top chip foundry, CEO says

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US chip restrictions hinder AI ambitions of China’s top chip foundry, CEO says

The chief executive of China’s top foundry said on Friday that the company cannot take full advantage of surging demand for artificial intelligence (AI) chips because of US restrictions on advanced-node technologies. US sanctions have prevented the Shanghai-based foundry from importing advanced tools needed to upgrade its processing and narrow its technological gap with international … Read more

IBM misses third-quarter revenue estimates as consulting drags; shares fall

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IBM misses third-quarter revenue estimates as consulting drags; shares fall

IBM missed analysts’ estimates for third-quarter revenue on Wednesday, hurt by weakness in its consulting segment as businesses cut back on discretionary expenses, coupled with declines in the infrastructure business. IBM’s shares fell about 4 per cent in extended trading after rising more than 40 per cent this year, as investors bet on the company’s … Read more