Japan’s central bank lifted its benchmark interest rate to “around 0.25%” from the previous range of 0% to 0.1%.
This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Like what you see? You can subscribefrom the previous range of 0% to 0.1%, narrowing the rate differential with the U.S. Federal Reserve which had pressured the yen.
for the second quarter, helped by robust demand for its advanced memory chips, which are essential for AI training. Revenue climbed 23.42% year-over-year to 74.07 trillion Korean won, or around $53.45 billion. Operating profit increased 15 times to 10.44 trillion Korean won. The South Korean tech giant said sales of high-end memory chips used in servers will continue to be strong.ahead of Wednesday's rate decision.
Nvidia's dominance in the high-end chips used to train and deploy AI systems may be weakening, judging by Advanced Micro Device's latest results and news that Apple had trained its AI models on Google-designed chips., and said sales in its data center segment, which includes AI chips, soared 115% on year to $2.8 billion during the quarter.
"We now expect data center GPU revenue to exceed $4.5 billion in 2024, up from the $4 billion we guided in April," CEO Lisa Su said on a call with analysts. AI models underpinning Apple Intelligence, its AI system, were pretrained on processors designed by Google
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