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WSJ Tech News Briefing

TNB Tech Minute: Dell Shares Surge on Strong AI-Server Demand

WSJ Tech News Briefing

The Wall Street Journal

News, Tech News

4.61.6K Ratings

🗓️ 30 August 2024

⏱️ 2 minutes

🧾️ Download transcript

Summary

Plus, defense company RTX agrees to pay $200 million to settle export control violations. And Elon Musk’s Starlink says Brazil has frozen its finances. Zoe Thomas hosts. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0

Here's your TnB Tech Minute for Friday, August 30th.

0:05.0

I'm Zoe Thomas for the Wall Street Journal.

0:08.0

Shares of Dell Technologies climbed over 4%.

0:12.0

It comes off the back of strong earnings the company released yesterday,

0:15.6

showing searching demand for its artificial intelligence servers. The company's overall

0:20.5

server revenue blew away Wall Street expectations, increasing 80% compared to last year

0:27.0

to nearly 7.7 billion dollars.

0:29.8

Sh shipments of AI servers in particular nearly doubled from last quarter.

0:35.0

Defense Company RTX has agreed to pay $200 million to settle allegations from the U.S. State Department

0:41.8

that it violated U.S. export controls.

0:44.0

These include transferring some of the technology behind Air Force One and U.S. military aircraft to China.

0:51.0

The company voluntarily disclosed violations at several of its business units,

0:55.2

according to the State Department. The State Department said it would suspend collecting half

0:59.7

of the penalty if RTX spends that money on compliance measures.

1:04.0

RTX said the settlement was in line with expectations.

1:08.0

And satellite internet business, Starlink, says Brazil has frozen its finances. In posts on X, Starlink, which is part

1:16.8

of Elon Musk's SpaceX, said the order was issued in secret and without due process.

1:23.0

The business says it plans to address the matter legally.

1:26.5

Yesterday on X, Musk said Starlink would provide free service to its users in Brazil

1:31.7

until the situation is resolved.

1:34.1

The move escalates tensions between Musk and Brazil's Supreme Court, which earlier this week

1:39.2

threatened to ban Musk's social media platform X if the company did not appoint a new legal

...

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