Shares of technology companies post modest gains helped by strength in shares of Microsoft and Alphabet.
Alibaba Group previewed its new artificial-intelligence model that it says is second only to Anthropic's Fable 5, the latest sign that China is fast closing the gap with the U.S. for global technological dominance. The preview version of the Qwen3.8 Max, the company's latest flagship large language model, boasts 2.4 trillion parameters, and is available on Alibaba's coding platforms, the Hangzhou-based company said in a post on X.
Koch-owned Molex struck an up to $6.29 billion deal for the supply of data-center cables from Italy's Prysmian which seeks to bolster its fiber capacity in the U.S. with a potential listing in the cards. The Italian cable maker's 10-year agreement with Molex to supply optical fiber for data centers is part of a string of new agreements it will make with infrastructure providers, Prysmian said. These deals could bring an additional cumulative value of more than 10 billion euros ($11.44 billion) on an incremental basis up to 2035, compared with the 2025 baseline, according to Prysmian.
Write to Patrick Sheridan at patrick.sheridan@wsj.com
(END) Dow Jones Newswires
