BUSINESS

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South Korean tech giant Samsung Electronics reported a 32 percent year-on-year increase in third-quarter profits on Thursday, primarily driven by AI-fueled market demand for memory chips. The artificial intelligence industry has significantly boosted both Samsung and SK Hynix, two of the world's leading memory chip manufacturers, as their products have become essential for AI infrastructure. This latest earnings report marks a sharp turnaround for Samsung, whose profits had plunged by over 50 percent in the second quarter due to US restrictions on AI chip exports to China.

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Nvidia, the artificial intelligence chip powerhouse, achieved a historic milestone on Wednesday by becoming the world's first $5 trillion company. This surge reflects continued investor confidence in AI's potential to drive a new era of innovation and economic growth.

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Shell has announced another $3.5 billion share repurchase plan after posting stronger-than-expected third-quarter results, underscoring the oil giant's ability to deliver consistent shareholder returns despite softer energy prices.

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In a media industry long accustomed to disruption, this week stands out as one of the most turbulent in recent memory. Warner Bros. Discovery (WBD), home to Warner Bros., HBO, and CNN, has officially placed itself up for sale after Paramount Skydance made a third, higher bid to acquire the company. The move has triggered a frenzy of speculation, with Netflix, Amazon, Comcast, and even Apple reportedly assessing their options.

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Uber announced Wednesday its plans to launch its own robotaxi service in San Francisco late next year, directly challenging Google-owned Waymo on the rideshare giant's home streets. This development follows a recent alliance between Uber and Nvidia to deploy 100,000 robotaxis starting in 2027. Uber confirmed in an X post that on-road development of more than 100 self-driving Lucid vehicles for the robotaxi program is currently in progress, stating, "The future is on its way.”

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In a move to combat international criminal activity, SpaceX has cut off Starlink satellite internet service to more than 2,500 devices used by scam compounds in Myanmar. These compounds, where people from around the world are trafficked and forced to work in generating tens of billions of dollars annually, are believed to be operating in more than 30 locations along the Thai-Myanmar border.