Category: 3. Business

  • Inflation jumps to 3.2%, dashing hopes of a Melbourne Cup day rate cut for homeowners | Australian economy

    Inflation jumps to 3.2%, dashing hopes of a Melbourne Cup day rate cut for homeowners | Australian economy

    Inflation has jumped to 3.2% in the year to September, from 2.1% in June, as waning government subsidies feed through to higher household power bills.

    Any lingering chance of a rate cut next Tuesday was squashed after the new Australian Bureau of Statistics figures also confirmed a troubling rise in underlying inflation.

    The Reserve Bank’s preferred trimmed mean measure – which removes the impact of large, temporary price moves – climbed by 1% in the three months to September and far ahead of the RBA’s predicted rate of 0.6%.

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    That left inflation on this trimmed mean measure at 3% in the year, against 2.7% in June.

    Michele Bullock, the RBA’s governor, this week made it clear that a quarterly rise in underlying inflation of 0.9% would be a “material miss”, signalling the monetary policy board would not be prepared to deliver a fourth rate cut.

    While Australians will feel the bite of higher electricity prices, what has been more concerning for the central bank is the unexpected and unwelcome lift in underlying inflation.

    Bullock this week made it clear that the central bank is, for now, more worried about the prospect of resurgent inflation than a recent jump in unemployment.

    Bullock said the labour market was not about to “fall off a cliff” and that the jobless measure was “still pretty low”.

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  • Australia’s inflation tops forecasts at 3.2%, highest in over a year

    Australia’s inflation tops forecasts at 3.2%, highest in over a year

    Tourists sit on a bollard at the Sydney Opera House.

    Afp Contributor | Afp | Getty Images

    Australia’s inflation accelerated in the third quarter, with consumer prices rising 3.2% from a year earlier — the fastest pace in more than a year — the Australian Bureau of Statistics said Wednesday.

    The increase topped the 2.1% rise in the second quarter and came in above the 3% forecast by economists polled by Reuters.

    The ABS said the most significant price rises were in housing, recreation and culture, and transport.

    Trimmed mean inflation rate, which excludes extreme price changes in consumer goods and services, rose to 3%, up from 2.7% last quarter. It was the first increase in trimmed mean inflation since December 2022, the bureau said.

    The 3.2% headline rate pushed inflation beyond the Reserve Bank of Australia’s 2%–3% target band for the first time since the second quarter of 2024, underscoring the challenge policymakers face in taming persistent price pressures.

    Following the data release, the Australian S&P/ASX 200 fell 0.76%, while the Australian dollar strengthened 0.21% against the greenback to 0.6596.

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    The latest inflation figure means that expectations of RBA rate cuts will be “almost certainly” pushed back, Josh Gilbert, market analyst at market services firm eToro said in a note.

    He added that the RBA’s goal of bringing inflation under control will take longer than anticipated, and that further rate relief may still be some way off for investors.

    “This reinforces that the disinflation process is stalling while bringing stagflation concerns into the conversation, especially if unemployment keeps picking up,” Gilbert added.

    The RBA had cautioned in its September Statement on Monetary Policy that inflation for the quarter could come in “higher than expected,” citing sticky prices in housing and market services.

    RBA Governor Michelle Bullock said last month that inflation in those areas was “a little higher than we were expecting,” though she stressed that it did not indicate that inflation was “running away.”

    In August, the central bank had forecast that underlying inflation would continue to moderate to around the midpoint of the 2%–3% range, with the cash rate assumed to follow a “gradual easing path.”

    Recent headline CPI readings for July and August came in above expectations for both months, at 2.8% and 3% respectively. September inflation figures stood at 3.5%, its highest since July 2024.

    Australia’s central bank kept its policy rate steady at its last meeting, noting that inflation remained stubborn in some parts of the economy.

    The country’s economy outperformed expectations in the second quarter, growing 1.8% from a year earlier, marking the fastest pace of growth since September 2023. It was higher than the 1.6% expected by economists polled by Reuters and the 1.3% seen in the previous quarter.

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  • Tata Group – the divided empire facing boardroom drama

    Tata Group – the divided empire facing boardroom drama

    Nikhil InamdarBBC News, Mumbai

    Getty Images Natarajan Chandrasekaran, Chairperson of Tata Sons in a suit, at the listing ceremony of Tata Capital Limited in Mumbai, India, on October 13, 2025. Getty Images

    The Tata Group, headed by N Chandrasekaran, is facing severe business headwinds

    A year after the death of Ratan Tata, the Tata Group – a gigantic Indian salt-to-steel conglomerate which he steered into a global, modern, technologically advanced enterprise – finds itself facing a plethora of crises.

    The business empire, which owns iconic British brands such as Jaguar Land Rover (JLR) and Tetley Tea and makes the iPhone for Apple in India, is, yet again, a divided house.

    For months, a boardroom power battle between trustees has exposed internal rifts that forced the government to step in and prevent a repeat of the very public legal tangle that engulfed the Tata empire in 2016, when its former chairman Cyrus Mistry was ousted from the group.

    While ministers in Delhi appeared to have brokered an uneasy truce weeks ago, latest reports suggest that Mehli Mistry, a close confidant of Ratan Tata and a trustee on the board of Tata Trusts, has been ousted from his position. The BBC has not been able to independently verify this.

    Prof Mircea Raianu of the University of Maryland who’s written a seminal history of the corporation, views the tussle as a “resurfacing of unresolved business” – or the core question of who runs the show at Tata, and how much control majority shareholders (the philanthropic arm Tata Trusts which owns 66% of the parent company, Tata Sons) can wield in making business decisions.

    The Tata Group is uniquely structured, with controlling shares of the unlisted commercial holding company (Tata Sons) vested in a philanthropic organisation (Tata Trusts). While this has given the group tax and regulatory advantages, and allows it to carry out charitable activities, experts say it has also led to governance issues given its dual non-profit and commercial objectives.

    The latest rift comes at a time when the Tatas are facing severe business headwinds while trying to expand into new growth areas like semiconductors and electric vehicles, as well as attempting to revive Air India – the ailing carrier they bought from the government in 2021 – following a tragic crash earlier this year.

    So, what’s gone wrong?

    AFP via Getty Images Tata Group chairman Ratan Tata (R) looks on as Cyrus Mistry (L) walks past at the 2012 India Auto Expo in New Delhi on January 5, 2012. Behind them is a showroom model of the Tata Safari car. AFP via Getty Images

    A legal dispute engulfed the Tata empire in 2016, when its former chairman Cyrus Mistry (left) was ousted from the group

    The Tatas have not publicly commented on the discord, but it is widely reported to stem from differences among trustees over board nominations, funding approvals and the public listing of Tata Sons – the holding company of 26 publicly listed Tata firms with a market capitalisation of some $328bn.

    A source close to the Tata Group told the BBC on condition of anonymity that some of the trustees’ desire for greater influence in making strategic decisions at Tata Sons and picking nominees on its board is at the centre of the tussle. Tata Trusts has three nominees on the Tata Sons board.

    “The Tata Trusts nominees have a veto right in major company decisions, but it is understood that theirs is basically a supervisory role, not an assertive one,” said the source. “However now, some of the trustees want more power to make commercial decisions.”

    Another more significant point of contention is the desire of the SP Group – the largest minority shareholder in Tata Sons, with an 18% stake – to take the company public. While the former has been pushing hard for it, most Tata trustees are against the idea.

    “There is fear that going public would dilute the trust’s decision-making capacity and long-term focus and expose Tata Sons to quarterly market pressures,” said the source. “This is especially because there are so many new businesses at a very nascent stage.”

    But the SP Group has called its prospective public listing a “moral and social imperative” that would unlock value for Tata shareholders and improve transparency and governance at the company.

    Neither Tata Sons not Tata Trusts have responded to detailed questions from the BBC. But according to Prof Raianu, the tussle highlights a very real dilemma for the group.

    A public listing, he says, would be counter to what many giant conglomerates in the United States and Europe are increasingly doing – “opting for foundation ownership to promote stability and sustainability”, ironically, by looking to the Tatas as an example.

    “But at the same time, private or closely held companies are indeed subject to less outside scrutiny, which can fuel conflict and harm reputation,” Prof Raianu adds.

    Hindustan Times via Getty Images Wreckage of the Air India plane at the crash site in Ahmedabad, India. The Air India flight, which was bound for London, crashed shortly after taking off from Ahmedabad Airport. Hindustan Times via Getty Images

    The Air India crash in June occurred as the Tatas are trying to revive the ailing carrier

    The conflict has already raised governance concerns and hit the brand image of what is arguably one of India’s oldest and most revered business houses, says publicist Dilip Cherian, who once worked closely with former Tata Sons chairman Cyrus Mistry.

    “This just adds to the series of blows the Tata image has taken recently,” Mr Cherian told the BBC, referring to the devastating Air India crash earlier this year and the cyber-attack on a key unit of JLR which plunged the UK’s car production to a 70-year-low this September.

    Further, TCS, the flagship software outsourcing company that contributes to nearly half the group’s revenues, has been plagued with its own set of challenges, including mass layoffs and the recent ending of a $1bn contract by retailer Marks & Spencer.

    “These boardroom battles create further confusion. There will not only be anxiety about share performance, but questions among investors about who exactly they are dealing with at the Tatas,” said Mr Cherian.

    Bloomberg via Getty Images Drone image of a Jaguar Land Rover vehicle manufacturing plant in Castle Bromwich, UK. Bloomberg via Getty Images

    A cyber attack in September led to a five-week shutdown of Jaguar Land Rover’s (JLR) factories

    Amid this turmoil, the tenure of N Chandrasekaran, the chairman of Tata Sons, has reportedly been extended.

    “The chairman can continue doing his work, since this is not a rift within the board, but between the trustees. But it is an unnecessary distraction for him,” the source close to Tata Sons said.

    But the Tatas are not new to firefighting crises. The group saw fierce battles in the 90s after Ratan Tata took over the group and attempted to modernise its operating structure. The conflict that broke out after Mistry’s ouster a few years ago is still fresh in many people’s memory.

    There is however, a major difference this time, says Prof Raianu.

    “Underperforming companies at the time were held afloat by TCS, which facilitated continuity. Before TCS, this role was played by Tata Steel.”

    Right now – with TCS’s business model in a flux and its contribution to overall Tata group revenues coming under pressure – a similar “anchor” to the group is yet to emerge, making it harder for the group to fight such internal divisions.

    “It is obviously destabilising and potentially destructive in the short term, but it is possible that a new and more transparent and accountable structure can emerge when the dust settles,” says Prof Raianu.

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  • Visa earnings offer an upbeat read on consumer-spending habits

    Visa earnings offer an upbeat read on consumer-spending habits

    By Emily Bary

    Volume growth picked up in the latest quarter, suggestive of healthy payment activity

    Visa’s revenue exceeded expectations in the September quarter.

    Volume growth picked up in Visa’s latest quarter, signaling a robust spending landscape.

    The company on Tuesday reported 9% growth in payment volume for its September quarter, up from the 8% growth rate posted in the June quarter.

    The “continued healthy consumer spending,” as described by Chief Executive Ryan McInerney, drove Visa (V) to beat revenue expectations for the latest quarter. The company posted $10.7 billion on the top line, up 12% from a year earlier and above the $10.6 billion that analysts tracked by FactSet were forecasting.

    Adjusted earnings per share came in at $2.98, topping estimates by a penny.

    Read: SoFi’s business is on fire, and these earnings numbers show what’s clicking

    Visa benefited from 12% growth in cross-border volume, which is largely seen as a proxy for spending related to international travel but also includes things like e-commerce transactions conducted between a merchant and buyer each based in different countries. Cross-border volume tends to be more profitable than domestic volume.

    Shares of Visa were edged 0.4% higher in the extended session, with the company’s outlook potentially encouraging as well. Visa just began its new fiscal year and expects a low-single-digit revenue growth rate for fiscal 2026. Analysts tracked by FactSet were looking for $44.2 billion in annual revenue, implying expectations for 10.5% growth.

    “As technologies like AI-driven commerce, real-time money movement, tokenization and stablecoins converge to reshape commerce, our focus on innovation and product development positions Visa to lead this transformation,” McInerney said in his statement.

    Investors will get another look at the payment-technology landscape on Thursday morning, when Mastercard Inc. (MA) reports its September-quarter results.

    See also: PayPal partners with OpenAI – and its stock is rewarded

    -Emily Bary

    This content was created by MarketWatch, which is operated by Dow Jones & Co. MarketWatch is published independently from Dow Jones Newswires and The Wall Street Journal.

    (END) Dow Jones Newswires

    10-28-25 2025ET

    Copyright (c) 2025 Dow Jones & Company, Inc.

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  • Microsoft shares once again surpass $4 trillion valuation, joining Nvidia

    Microsoft shares once again surpass $4 trillion valuation, joining Nvidia

    Microsoft Corp. once again surpassed $4 trillion in valuation, joining artificial intelligence chipmaker Nvidia in the exclusive club that also briefly included Apple on Tuesday. The sky-high valuations highlight the investor frenzy around artificial intelligence.

    Earlier in the day, OpenAI said it has reorganized its ownership structure and converted its business into a public benefit corporation after two crucial regulators, the Delaware and California attorneys general, said they would not oppose the plan. It also said has signed a new agreement with its longtime backer Microsoft that gives the software giant a roughly 27% stake in OpenAI’s new for-profit corporation.

    The news gave Microsoft’s shares a boost as the stock closed up 2% at $542.07, valuing the technology giant at $4.04 trillion. Microsoft’s valuation previously passed $4 trillion in July, making it the second company after Nvidia to reach the milestone.

    Apple’s shares, meanwhile, crossed the $4 trillion line earlier Tuesday before closing up slightly at $269 and a total valuation of $3.99 trillion. Thanks to the iPhone’s success, Apple was the the first publicly traded company to valued at $1 trillion, $2 trillion and eventually, $3 trillion.

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  • Solar boom eases Pak energy crisis

    Solar boom eases Pak energy crisis

    Solar panel. Photo: ANADOLU AGENCY


    KARACHI:

    The roof of a sprawling rice mill in the eastern district of Pakistan’s commercial capital Karachi is covered with sky blue solar panels soaking rays under the broiling midday sun.

    The mill is one of thousands of industrial units across Pakistan that have shifted to solar energy to counter rising electricity tariffs and frequent power outages in recent years.

    The South Asian country of around 255 million people has witnessed a solar uptake, particularly over the past two years, after an International Monetary Fund (IMF) bailout forced Pakistan to sharply raise power and gas tariffs to support struggling suppliers in the heavily indebted energy sector.

    From pharmaceuticals to cement manufacturers in Karachi, to textile units in Faisalabad, and from supermarkets to mosques in Lahore, solar panels paired with lithium batteries have been adopted as an alternative to electricity from the national grid.

    “We were left with no other choice but to go for solar energy, as the power bills had literally become unpayable for industrialists,” Rafique Suleman, the owner of the mill, told Anadolu.

    Suleman said that turning to solar has “really” helped him mitigate the tariff challenge, saving up to 50% of his monthly power-related expenses.

    “The current power tariffs and Pakistan’s industry cannot survive together. Solar energy is the only viable option that local industrialists have to run their businesses,” added Suleman, a former chairman of the country’s rice exporters association.

    Mehwish Salman Ali, chief executive officer of Data Vault Pakistan, a leading data provider and management solutions company, views solar solutions as a “game-changer” that helps the country tackle chronic energy deficits by providing affordable and reliable power to homes and businesses.

    “From crippling blackouts and insane sky-high bills, we’ve seen solar’s share in electricity generation triple to 14% by 2025, with rural areas hitting 25% in the early months alone, filling the gaps where the grid fails us,” Ali told Anadolu.

    Pakistan’s solar penetration ranks it among Asia’s leaders for solar-only share, surpassing nations like China (9%) and India (6%), according to Ember, a UK-based energy think tank.

    Environmental challenges

    Although solar solutions have contributed significantly to reducing energy gaps, environmentalists warn that electronic waste is adding to a long list of environmental challenges already plaguing the country.

    Pakistan ranks among the top 10 countries most affected by climate change.

    The country’s solar adoption has accelerated rapidly since 2015 due to rising electricity tariffs, frequent power shortages, falling panel prices, and net-metering incentives.

    Currently, Pakistan is estimated to have around 3 million consumers using solar systems, including off-grid, according to the Seventh Population & Housing Census 2023. China exported 16.6 gigawatts of solar capacity to Pakistan in 2024, about five times higher than in 2022.

    “While solar energy is a clean and renewable power source, the electronic waste (e-waste) generated from its components – particularly solar panels, inverters and batteries – is an emerging environmental challenge in Pakistan and worldwide,” Rafiul Haq, a Karachi-based environmentalist, told Anadolu.

    Most systems use lead-acid, lithium-ion, or gel batteries and panels with lifespans between 10 and 25 years. When these reach the end of their life, they become electronic waste, often unmanaged, Haq added.

    Endorsing the view, Ali said that without affordable solar options, the energy gap widens, increasing dependence on fossil fuels, which harms the environment and hinders progress toward sustainable development. A 2023 United Nations Development Program (UNDP) report estimated that over 80% of Pakistan’s lead-acid battery recycling is unregulated, exposing workers and nearby communities to neurotoxic lead.

    Pakistan currently has no dedicated solar or battery recycling facility, according to Haq.

    He said the first wave of solar panels installed between 2010 and 2015 is now approaching end-of-life. Without a recycling system, millions of panels could generate thousands of tons of e-waste annually over the next decade.

    “The solution lies in strong recycling legislation, formal waste collection systems, and producer responsibility frameworks – turning clean energy into a truly sustainable system,” Haq maintained, calling for the establishment of a “National Solar E-Waste Management Framework.”

    Mustafa Amjad, an Islamabad-based energy expert, said the existing power system “isn’t really ready for all of that solar. It does not mean it does not have to be ready. It will still have to make that journey, a bit earlier than initially thought out,” he told Anadolu.

    “And it would need new regulatory structures.”

    Social division

    Waqar Phulpoto, director general of the Sindh Environment Protection Authority (SEPA), contended that the electronic waste issue is not alarming for now.

    “This is a reality, and it is for sure going to be an environmental challenge. But at the moment, its extent is not huge, as Pakistan has logged a boom in solar adoption over the past five years,” Phulpoto told Anadolu.

    SEPA is considering introducing legislation and guidelines “soon” to tackle the electronic waste issue, he said, adding: “It will be done well before this issue (electronic waste) becomes an actual challenge,” Phulpoto said.

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  • Nikkei 225, Nifty 50, CSI 300

    Nikkei 225, Nifty 50, CSI 300

    Mount Fuji and the Shinjuku skyline in Tokyo, Japan, on Friday, Feb. 14, 2025. Photographer: Kiyoshi Ota/Bloomberg via Getty Images

    Bloomberg | Bloomberg | Getty Images

    Asia-Pacific markets were set for a higher open Wednesday as investors awaited the Federal Reserve’s interest rate decision, widely believed to bring a second straight 25 basis point cut.

    Markets are assigning a nearly 100% probability that another quarter-point reduction, on the heels of September’s cut, would bring the federal funds rate to a range between 3.75%-4.00%.

    “If [Fed chair Jerome Powell] comes off dovish, bets for future Fed cuts will increase and provide more fuel to market momentum,” veteran investor Louis Navellier wrote in a daily note.

    The federal funds rate, set by the Federal Open Market Committee, is the interest rate banks charge each other for overnight loans. While it doesn’t directly affect consumers, the Fed’s moves often influence borrowing costs for mortgages, credit cards and other loans.

    Japan’s Nikkei 225 futures pointed to a stronger open, with the contract in Chicago at 50,745 and its counterpart in Osaka at 50,660, compared to the previous close of 50,219.18.

    Australia’s S&P/ASX 200 started the day flat.

    Hong Kong markets are closed for the holidays.

    Overnight in the U.S., all three major averages closed higher. The S&P 500 rose 0.23% to close at 6,890.89. It had surpassed the 6,900 level for the first time on an intraday basis earlier in the day.

    The Nasdaq Composite advanced 0.80% to finish at 23,827.49, while the Dow Jones Industrial Average gained 161.78 points, or 0.34%, to settle at 47,706.37. In addition to their closing highs, the tech-heavy Nasdaq and 30-stock Dow scored new all-time intraday highs alongside the broad market S&P 500.

    —CNBC’s Jeff Cox, Sean Conlon and Pia Singh contributed to this report.

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  • More than mining, building generations of impact.

    More than mining, building generations of impact.

    Meet Fernanda Maldonado, Principal Planning & Technical in our Non-Operated Joint Ventures team. As a fourth-generation mining engineer, mining runs deep in her family – nearly 100 years of history. 

    Since joining BHP seven years ago, Fernanda has worked across regions from the Ecuadorian jungle to remote Canada, discovering the global impact of mining and the role BHP plays in shaping its future. 

    “I can only imagine my great-grandfather digging rocks in a remote polymetallic mine in Andean Peru back in the 20´s being told his great granddaughter was not only working in mining but also part of the biggest mining company in the world!”

    Fernanda is proud to be part of a company that provides resources to develop the world and the investments that help build communities around it.

    Our 140th anniversary is not just a celebration of the past; it’s a launchpad for the future. We’re investing in the resources, relationships, and innovations that will shape a more sustainable and inclusive world.

    Each chapter in the BHP story is driven by meeting the changing needs of the world.

    But it’s the character of our people that will continue to make all the difference.

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  • Nvidia-supplier SK Hynix third-quarter profit jumps 62% to a record high

    Nvidia-supplier SK Hynix third-quarter profit jumps 62% to a record high

    A man walks past a logo of SK Hynix at the lobby of the company’s Bundang office in Seongnam on January 29, 2021.

    Jung Yeon-Je | AFP | Getty Images

    South Korea’s SK Hynix, one of the world’s largest memory chipmakers, on Wednesday posted record quarterly revenue and profit, boosted by a strong demand for its high bandwidth memory used in generative AI chipsets.

    Here are SK Hynix’s third-quarter results versus LSEG SmartEstimates, which are weighted toward forecasts from analysts who are more consistently accurate:

    • Revenue: 24.45 trillion won ($17.13 billion) vs. 24.73 trillion won
    • Operating profit: 11.38 trillion won vs. 11.39 trillion won

    Revenue rose about 39% in the September quarter compared with the same period a year earlier, while operating profit surged 62%, year on year.

    On a quarter-on-quarter basis, revenue was up 10%, while operating profit grew 24%.

    SK Hynix makes memory chips that are used to store data and can be found in everything from servers to consumer devices such as smartphones and laptops.

    The company has benefited from a boom in artificial intelligence as a key supplier of high-bandwidth memory or HBM chips used to power AI data center servers. 

    “As demand across the memory segment has soared due to customers’ expanding investments in AI infrastructure, SK Hynix once again surpassed the record-high performance of the previous quarter due to increased sales of high value-added products,” SK Hynix said in its earnings release. 

    HBM falls into the broader category of dynamic random access memory, or DRAM — a type of semiconductor memory used to store data and program code that can be found in PCs, workstations and servers.

    SK Hynix has set itself apart in the DRAM market by getting an early lead in HBM and establishing itself as the main supplier to the world’s leading AI chip designer, Nvidia

    However, its main competitors, U.S.-based Micron and South Korean-based tech giant Samsung, have been working to catch up in the space.

    “With the innovation of AI technology, the memory market has shifted to a new paradigm and demand has begun to spread to all product areas,” SK Hynix Chief Financial Officer Kim Woohyun said in the earnings release.

    “We will continue to strengthen our AI memory leadership by responding to customer demand through market-leading products and differentiated technological capabilities,” he added.

    The HBM market is expected to continue to boom over the next few years to around $43 billion by 2027, giving strong earnings leverage to memory manufacturers such as SK Hynix, MS Hwang, research director at Counterpoint Research, told CNBC.

    “[F]or SK Hynix to continue generating profits, it’ll be important for the company to maintain and enhance its competitive edge,” he added.

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  • Celestica CEO explains the company’s role in the AI boom

    Celestica CEO explains the company’s role in the AI boom

    Celestica CEO Rob Mionis explained how his company designs and manufactures infrastructure that enables artificial intelligence in a Tuesday interview with CNBC’s Jim Cramer.

    “If AI is a speeding freight train, we’re laying the tracks ahead of the freight train,” Mionis said.

    He pushed back against the notion that the AI boom is a bubble, saying that the technology has gone from a “nice to have” to a “must have.”

    Celestica reported earnings Monday after close, managing to beat estimates and raise its full-year outlook. The stock hit a 52-week high during Tuesday’s session and closed up more than 8%. Celestica has had a huge run over the past several months, and shares are currently up 253.68% year-to-date.

    Mionis described some of Celestica’s business strategies, including how the Canadian outfit chose to move away from commodity markets and into design and manufacturing. He told Cramer that choice “has paid off in spades” for his company.

    Celestica’s focus on design and manufacturing enables the company to “consistently execute at scale,” he added.

    He detailed Celestica’s data center work, saying the company makes high-speed networking and storage system for hyperscalers, digital native companies and other enterprise names.

    Mionis praised the company’s partnership with semiconductor maker Broadcom, saying Celestica uses Broadcom’s silicon in a lot of its designs.

    “What it means for us is when they launch a new piece of silicon — so the Tomahawk 6 is their 1.6 terabyte silicon — when they launch that into the marketplace, they’ll work with us to develop products, and those products end up in the major hyperscalers.”

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