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Will Switch Successor Save Nintendo?
The Japanese giant [7974:T] reported results Tuesday, posting an operating profit of ¥64.5bn, below an analysts’ average estimate of ¥74.7bn. The company also said it expects operating income will fall 24% to ¥400bn in the year to March 2025, and Switch sales to total 13.5 million units over the same period, down from a previous estimate of 15.7 million. A silver lining was the announcement of a successor to the Switch, with details coming later this year.
EU Start-ups Target Microsoft
The Asociación Española de Startups represents 700 Spanish companies and has partnerships with Alphabet’s [GOOGLE] Google and Amazon [AMZN] Web Services (AWS). On Monday it filed a formal complaint against Microsoft [MSFT] with the country’s competition regulator, saying that technical and contractual barriers imposed by the tech giant are “significantly affecting both cloud providers and cloud customers within the startup ecosystem in Spain and their international growth”.
In-House Apple AI Chip?
The Cupertino giant [AAPL] is developing its own artificial intelligence (AI) chip, the Wall Street Journal reported on Monday. Building on successes with previous in-house chips for iPhones, Macs and other devices, the project is known internally as Project ACDC, which stands for ‘Apple Chips in Data Center’. Apple is preparing to unveil a new AI strategy at its Worldwide Developers Conference next month.
Amazon Cloud in Singapore
“Cloud service providers like AWS play an important role in improving the digital economy ecosystem,” said Tan Kiat How, Senior Minister of State at Singapore’s Ministry of Communications and Information, at the Tuesday announcement of a $8.9bn investment in the country on the part of Amazon’s AWS. The funds will be used over the next five years to expand its cloud infrastructure and services there, CNBC reported.
Big SoftBank AI Bet
In Europe’s largest AI deal so far, Japan’s Softbank [9984:T] is leading an investment round of more than $1bn into UK self-driving car start-up Wayve. Nvidia [NVDA] was also part of the round, while Microsoft already invested in the London-based company. Prime Minister Rishi Sunak said the deal “anchors the UK’s position as an AI superpower”, according to the Financial Times. Founded in 2017, Wayve’s AI system allows vehicles to learn while driving.
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