Make earnings with no risk
Automated AI-driven system makes the trades, you earn the money
Join now

Alphabet’s GFiber Looks for External Investment


Last week, Alphabet’s disappointing earnings outlook put a damper on the celebrations for investors, while other Big Tech players enjoyed success. Nevertheless, Alphabet is determined to please investors and has considered partnering with an external investor for its fiber-cable business, GFiber.

Launched in 2010, GFiber aims to install fiber lines that carry high-speed Internet signals. According to Reuters, Alphabet has expressed its intention to seek external investment for this venture. Despite the report, Alphabet has not yet responded to requests for comment.

This strategic move aligns with earlier reports that Alphabet has been pressuring businesses within its Other Bets division to manage costs independently. By securing an external investor, Alphabet can reduce the need for support from its own resources.

The Other Bets division houses various businesses that operate separately from Google, including GFiber and self-driving vehicle operation Waymo. If successful, this external partnership could pave the way for GFiber to achieve complete independence, as reported by Reuters.

Taiwan Semiconductor Manufacturing to Expand Operations in Japan

Taiwan Semiconductor Manufacturing (TSMC), a leading chip manufacturer, announced its plans to build a second semiconductor fabrication plant in Kumamoto, Japan. This strategic move is driven by the growing demand for high-end chip manufacturing. The new plant is expected to be operational by the end of 2027.

TSMC will partner with renowned companies like Sony, Denso, and Toyota Motor, who will make additional investments in the Japanese chipmaking operation. The total investment for this project is estimated to exceed $20 billion, with TSMC holding an 86.5% stake.

As a result of this news, TSMC’s American depositary receipts experienced a 0.7% increase in premarket trading.

Infineon Technologies Faces Challenges in Europe

On the other hand, German chipmaker Infineon Technologies witnessed a 3.6% decline in local trading. This can be attributed to their reduced sales forecast for fiscal 2024. The weakened demand for personal electronics, including computers and smartphones, played a significant role in this revision.

Jochen Hanebeck, the Chief Executive of Infineon Technologies, stated that they do not anticipate a substantial recovery in demand for consumer, communication, computing, and IoT applications until the second half of the calendar year.

Alibaba and Chinese Stocks Bounce Back Amid Government Support Signals

Previous article

A Week of Contradictions in the Market

Next article

You may also like


Leave a reply

Your email address will not be published.

More in News