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Microsoft has announced a $400 million investment in Switzerland aimed at enhancing its cloud computing and artificial intelligence infrastructure. The funding will be directed towards expanding and upgrading four data centers located near Geneva and Zurich. While the company employs 1,000 people in the country, it has not specified how many new jobs this investment will create.
During a recent Microsoft event, CEO Satya Nadella mentioned that Elon Musk interned at Microsoft, which sparked curiosity about the accuracy of this claim. While initial searches found no evidence of such an internship, Walter Isaacson's biography of Musk confirms that he did intern at Microsoft's Toronto office in 1989. This revelation adds context to Musk's relationship with Microsoft amid ongoing tensions and a lawsuit, as the company seeks to expand its AI partnerships.
Netflix, Inc. reported a strong quarterly performance with an EPS of $6.61, surpassing estimates, and revenue of $10.54 billion. The stock opened at $1,177.98, with analysts maintaining a "Moderate Buy" rating and a consensus target price of $1,084.91. Recent insider transactions included significant sales by the CFO and a director, reflecting a decrease in their holdings.
Microsoft reported earnings of $3.46 per share for the quarter, surpassing estimates of $3.22, with revenue of $70.07 billion, exceeding expectations of $68.54 billion. The company announced a quarterly dividend of $0.83 per share, with a yield of 0.73%, and a payout ratio of 25.66%. Analysts predict an EPS of 13.08 for the current year, while the stock has a market cap of $3.37 trillion and a consensus target price of $509.16.
TikTok is set to invest €1 billion (US$1.14 billion) in a new data center in Finland as part of its "Project Clover" initiative, aimed at addressing European data privacy concerns. This investment is part of a larger €12 billion commitment over ten years to enhance data security amid rising regulatory pressures and geopolitical tensions surrounding data sovereignty. Finland is emerging as a key hub for data infrastructure, with significant investments from major tech companies leveraging its favorable climate and renewable energy resources.
Elon Musk's recent revelations at a Wisconsin town hall have sparked controversy, alleging that 5.5 million undocumented immigrants received Social Security numbers under Biden, with many illegally registered to vote. Musk criticized the federal bureaucracy's inefficiencies and outdated systems, advocating for modernization to prevent wasteful spending. His DOGE team, composed of experienced business leaders, aims to streamline government operations, countering accusations from Democrats who are reportedly resorting to vandalism against Tesla as tensions rise.
Microsoft has closed its IoT & AI Insider Lab in Shanghai, marking a significant reduction in its operations in China amid rising geopolitical tensions. The lab, operational since May 2019, supported 258 projects and trained nearly 10,000 professionals but has been inactive since early 2024. Despite its long presence, Microsoft's revenue from China represents only 1.5% of its global earnings.
Elon Musk revealed his plans to cut $1 trillion from government spending by the end of May during an exclusive interview, introducing his DOGE team and outlining their goal to reduce the federal deficit by 15%. He emphasized that these cuts could be achieved without impacting critical services, despite the political challenges ahead. The DOGE office has been a focal point of the Trump administration's early term efforts, aiming to improve efficiency and address perceived waste in federal programs.
Elon Musk hinted at stepping down from the Department of Government Efficiency (DOGE) amid challenges faced by Tesla, including protests and stock declines. Despite criticism over budget cuts, Musk defended his team's efforts to reduce waste, claiming significant savings for taxpayers and expressing confidence in America's financial future. He acknowledged feeling overwhelmed by his multiple roles but reassured Tesla employees about the company's bright prospects.
Elon Musk expressed deep concerns about the declining birth rate in the US, warning that it could lead to civilization's collapse if not addressed. He emphasized America's crucial role in supporting Western civilization, stating that its strength is vital for a stable future. Despite these worries, Musk remains optimistic about the nation's potential as long as it upholds its core values of freedom and opportunity.
Brad Smith
People
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