Latest Technology News and Reviews

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Microchip Says It Will Shut Arizona Plant, Updates Outlook

(Bloomberg) -- Microchip Technology Inc., a maker of chips for cars, consumer devices and other products, said it would close a plant in Tempe, Arizona, affecting about 500 employees.Most Read from BloombergRiyadh Metro Partially Opens in Bid to Ease City’s Traffic JamsAs Wars Rage, Cities Face a Dark New Era of Urban DestructionThe company also said that orders have been slower than anticipated and it was revising the December quarter’s outlook to near the low end of its original forecast of ab

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Intel CEO Forced Out by Board Frustrated With Slow Progress

(Bloomberg) -- Intel Corp. Chief Executive Officer Pat Gelsinger was forced out after the board lost confidence in his plans to turn around the iconic chipmaker, adding to turmoil at one of the pioneers of the technology industry.Most Read from BloombergRiyadh Metro Partially Opens in Bid to Ease City’s Traffic JamsAs Wars Rage, Cities Face a Dark New Era of Urban DestructionThe clash came to a head last week when Gelsinger met with the board about the company’s progress on winning back market s

Amazon is giving its data centers a facelift for the generative AI age

Amazon is redesigning its data centers for the AI age.

US LNG exports to Europe surge in November on higher prices

U.S. LNG exports to Europe surged in November as the world's largest producer of the superchilled gas sent more cargoes to the continent and fewer to Asia and Latin America, according to preliminary data from financial firm LSEG. European natural gas prices climbed in November to their highest levels in two years on fears remaining Russian pipeline supplies to Europe will be halted or face further curtailment. European natural gas prices averaged $12.90 per mmbtu in November, more than a dollar higher than $11.79 in October and higher than $12.32 in September, with the benchmark front-month contract at the Dutch TTF hub reaching 49.03 euros per megawatt hour on Nov. 22, equivalent to $14.97 ...

US Tightens Curbs on China’s Access to AI Memory, Chip Tools

(Bloomberg) -- The US unveiled new restrictions on China’s access to vital components for chips and AI, escalating a campaign to contain Beijing’s technological ambitions but stopping short of earlier proposals that would have sanctioned more key Chinese firms.Most Read from BloombergRiyadh Metro Partially Opens in Bid to Ease City’s Traffic JamsAs Wars Rage, Cities Face a Dark New Era of Urban DestructionThe Department of Commerce slapped fresh curbs on the sale of high-bandwidth memory chips m

Fidelity Fund Boosts Value of Elon Musk’s X Social Network

(Bloomberg) -- A Fidelity Investments mutual fund increased the value of its equity stake in Elon Musk’s X by more than 32% in October, its largest monthly increase since making the investment in late 2022. Most Read from BloombergRiyadh Metro Partially Opens in Bid to Ease City’s Traffic JamsAs Wars Rage, Cities Face a Dark New Era of Urban DestructionFidelity’s Blue Chip Growth Fund valued its stake in X Holdings Corp., the parent of the social network, at $5.53 million at the end of October,

Better drugs through AI? Insitro CEO on what machine learning can teach Big Pharma

Artificial intelligence is changing the way companies do business — helping programmers write code and fielding customer service calls with chatbots. Founded in 2018, Insitro is part of a growing field of AI companies promising to accelerate drug discovery by using machine learning to analyze huge datasets of chemical and biological markers. The South San Francisco-based company has signed deals with drugmakers like Eli Lilly and Bristol Myers Squibb to help develop medicines for metabolic diseases, neurological conditions and degenerative disorders.

Duke pauses assessment of US energy loan program ahead of Trump administration

Duke Energy is pausing its assessment of certain U.S. energy infrastructure improvement loans, citing uncertainty over the future of funding under the Trump administration, according to a filing from last week. The electric utility told North Carolina regulators in a letter on Nov. 27 that it would put on hold its work to determine the costs and benefits of tapping into the federal Energy Infrastructure Reinvestment Program. "It is in the best interest of customers to pause any further efforts or expenditures until February, following the appointment of the new administration to gain clarity on the future of the EIR Program," Duke said in its filing with the North Carolina Utilities Commission.

MicroStrategy Is Halfway Through Share Sales to Buy Bitcoin

(Bloomberg) -- Just over a month after announcing plans to raise $21 billion through stock sales to help fund additional purchases of Bitcoin, MicroStrategy Inc. is already almost halfway to its goal.Most Read from BloombergRiyadh Metro Partially Opens in Bid to Ease City’s Traffic JamsAs Wars Rage, Cities Face a Dark New Era of Urban DestructionThe company sold 3.7 million shares over the past week and used the proceeds to buy another $1.5 billion worth of Bitcoin, the fourth consecutive weekly

PG&E shares fall after launching $2.4 billion equity capital raise

Shares of PG&E Corp fell about 7% on Monday after the power and natural gas company announced that it planned to raise $2.4 billion from investors via a stock offering. PG&E said it had launched a $1.2 billion common stock offering and a $1.2 billion mandatory convertible preferred stock offering, according to a regulatory filing on Monday. The company plans to use the proceeds from the offering for general corporate purposes, which includes funding its five-year capital investment plan, the filing said.

Super Micro Finds No Evidence of Fraud; Will Replace CFO

(Bloomberg) -- Super Micro Computer Inc. said an independent review of its business found no evidence of misconduct but recommended that the server maker appoint new top financial and legal leadership.Most Read from BloombergRiyadh Metro Partially Opens in Bid to Ease City’s Traffic JamsAs Wars Rage, Cities Face a Dark New Era of Urban DestructionA review by a special board committee, alongside attorneys from Cooley LLP and forensic accounting firm Secretariat Advisors, found “no evidence of mis