UBS's investment bank achieved $4 billion in quarterly revenue, fueled by unprecedented gains in equities and foreign exchange trading.
Quantum computers have the potential to tackle problems beyond the reach of classical machines. Industry leaders like Nvidia and Microsoft are already developing the necessary infrastructure to support this emerging technology.
Porsche, a Volkswagen subsidiary, experienced a 20% drop in profits in the first quarter as sales fell by 15%. The company also faced a €200 million loss due to U.S. import tariffs, impacting overall financial results.
Microsoft reported a 40% year-over-year increase in Azure revenue, surpassing analyst predictions. The company's total quarterly revenue grew by 18%, reaching $82.9 billion, highlighting robust cloud services growth fueled largely by AI business expansion.
The European Commission has raised concerns over Google's practice of limiting critical Android features exclusively to its AI service, Gemini. Authorities emphasize that Google should offer rival AI services the same level of access to Android capabilities to ensure fair competition.
Luxury retail spending increased by 18% this quarter, significantly boosting American Express's revenue by 10% to $18.9 billion and raising profit to $4.28 per share.
Microsoft is set to make its largest investment in Australia, committing $18 billion to enhance AI infrastructure. This funding will boost Azure cloud capacity by over 140% and aims to train 3 million Australians in AI skills by 2028, marking a significant step in the country's technological development.
Eli Lilly is set to acquire Kelonia Therapeutics for $3.25 billion upfront, aiming to strengthen its oncology and genetic medicines pipeline beyond its existing GLP-1 offerings.
Over the next three years, the Rockefeller Foundation will invest $100 million to support up to 250 communities facing economic hardships, aiming to improve job access and benefit up to 20 million people across the country amidst AI-driven workforce changes.
Starting this fall, advertisers will have the unique opportunity to purchase guaranteed audio ad impressions targeting YouTube audiences directly through SiriusXM Media for the first time.