The A.I. boom has propelled the South Korean tech giant’s earnings, but its shares sank as investors had even loftier expectations.
They make much of the gear that goes into giant data centers. Demand for their products is shifting the balance of tech power.
'seismic shift taking place'
AI backlash is mounting. Executives are getting booed. Workers are threatening strikes, and protests are frustrating data center development — but that doesn't seem to worry investors who are raining money on companies in the business. Why it matters: AI hate could slow adoption of the technology, posing an underappreciated risk for investors buying into the current frenzy. The latest: Even SpaceX's prospectus — which is threaded with AI hype — warns that the backlash is a real threat: - "If AI technologies are perceived to be significantly disruptive to society, it could lead to governmental or regulatory restrictions or prohibitions on their use, societal concerns or unrest, or, both, any of which could materially and adversely…
Samsung Electronics, a global memory chip supplier, has been a major beneficiary of the A.I boom. It has also become the center of a debate over how to divide its spoils.
Google is reinventing the product that made it one of the richest companies in history: search. Why it matters: Search is the cash cow that funds Google's sprawling empire. But it faces an existential threat from AI chatbots, so the company is moving proactively to upend its own core business before someone else does. - It's also an acknowledgment that describing what you're looking for in conversational language is a better way to find information than guessing the right keywords. Driving the news: In what it billed as the biggest change to the search box since its debut, Google announced Tuesday that it is allowing the box to expand for longer queries and chat-style exchanges. - Google has been headed in this direction for a while.…
Samsung is saying goodbye its namesake texting app