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SAN JOSE, Calif., Dec. 10, 2024 (GLOBE NEWSWIRE) -- Nutanix, Inc. (“Nutanix”) (Nasdaq: NTNX), a leader in hybrid multicloud computing, today announced its intention to offer, subject to market conditions and other factors, $750 million aggregate principal amount of convertible senior notes due 2029 (the “notes”) in a private placement (the “offering”) to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”). Nutanix also expects to grant the initial purchasers of the notes an option to purchase up to an additional $112.5 million aggregate principal amount of the notes within a 13-day period from, and including, the initial issuance date of the notes. The notes will be unsecured senior obligations of Nutanix. Interest will be payable semi-annually in arrears. The notes will mature on December 15, 2029, unless earlier converted, redeemed, or repurchased. The notes will be convertible at the option of holders, subject to certain conditions and during certain periods. Upon conversion, the notes may be settled in cash, shares of Nutanix’s Class A common stock or a combination of cash and shares of Nutanix’s Class A common stock, at Nutanix’s election. The interest rate, initial conversion rate and other terms of the notes are to be determined at the time of the pricing of the offering. Nutanix intends to use the net proceeds from the offering to (i) repurchase a portion of its outstanding 0.25% Convertible Senior Notes due 2027 (the “2027 notes”) concurrently with the pricing of the offering in separate and privately negotiated transactions with certain holders of its 2027 notes (the “concurrent note repurchases”) effected through one of the initial purchasers of the notes or its affiliate, acting as Nutanix’s agent, and (ii) repurchase up to $200.0 million of shares of Nutanix’s Class A common stock in privately negotiated transactions with institutional investors effected through one of the initial purchasers of the notes or its affiliate, acting as Nutanix’s agent, at a price per share equal to the last reported sale price of Nutanix’s Class A common stock on the Nasdaq Global Select Market on the date of the pricing of the notes (the “Share Repurchase”). Any such Share Repurchase would not reduce the amount available for future repurchases under Nutanix’s existing share repurchase program. Nutanix intends to use the remaining net proceeds from the offering for general corporate purposes, including working capital, capital expenditures and potential acquisitions. From time to time, Nutanix evaluates potential acquisitions of businesses, technologies or products. Currently, however, Nutanix does not have any understandings or agreements with respect to any acquisitions. The terms of the concurrent note repurchases are anticipated to be individually negotiated with each holder of the 2027 notes participating in the concurrent note repurchases, and will depend on several factors, including the market price of Nutanix’s Class A common stock and the trading price of the 2027 notes at the time of each such concurrent note repurchase. Certain holders of any 2027 notes that Nutanix agrees to repurchase may have hedged their equity price risk with respect to such 2027 notes and may, concurrently with the pricing of the notes, unwind all or part of their hedge positions by buying Nutanix’s Class A common stock and/or entering into or unwinding various derivative transactions with respect to Nutanix’s Class A common stock. Any repurchase of the 2027 notes, and the potential related market activities by holders of the 2027 notes participating in the concurrent note repurchases, together with the repurchase by Nutanix of any of its Class A common stock concurrently with the pricing of the notes, could increase (or reduce the size of any decrease in) the market price of Nutanix’s Class A common stock, which may affect the trading price of the notes at that time and the initial conversion price of the notes. Nutanix cannot predict the magnitude of such market activity or the overall effect it will have on the price of the notes or its Class A common stock. No assurance can be given as to how much, if any, of the 2027 notes or the Class A common stock will be repurchased or the terms on which they will be repurchased. Neither the notes nor the shares of Nutanix’s Class A common stock potentially issuable upon conversion of the notes, if any, have been, or will be, registered under the Securities Act or the securities laws of any other jurisdiction, and unless so registered, may not be offered or sold in the United States, except pursuant to an applicable exemption from, or in a transaction not subject to, such registration requirements. This announcement is neither an offer to sell nor a solicitation of an offer to buy any of these securities and shall not constitute an offer, solicitation, or sale in any jurisdiction in which such offer, solicitation, or sale is unlawful. About Nutanix Nutanix is a global leader in cloud software, offering organizations a single platform for running applications and managing data, anywhere. With Nutanix, companies can reduce complexity and simplify operations, freeing them to focus on their business outcomes. Building on its legacy as the pioneer of hyperconverged infrastructure, Nutanix is trusted by companies worldwide to power hybrid multicloud environments consistently, simply, and cost-effectively. Forward-Looking Statements This press release includes forward-looking statements within the meaning of Section 27A of the Securities Act and Section 21E of the Securities Exchange Act of 1934, as amended, including statements regarding Nutanix’s financing plans, Nutanix’s ability to complete the offering, the timing and size of the offering, the concurrent note repurchases and the Share Repurchase, Nutanix’s intended use of the net proceeds of the offering. These statements involve risks and uncertainties that could cause actual results to differ materially, including, but not limited to, whether Nutanix will be able to consummate the offering, the final terms of the offering, the satisfaction of customary closing conditions with respect to the offering of the notes, prevailing market conditions, the anticipated use of the net proceeds of the offering of the notes, which could change as a result of market conditions or for other reasons, and the impact of general economic, industry or political conditions in the United States or internationally. Forward-looking statements may be identified by the use of the words “may,” “will,” “expect,” “intend,” and other similar expressions. These forward-looking statements are based on estimates and assumptions by Nutanix’s management that, although believed to be reasonable, are inherently uncertain and subject to a number of risks. Actual results may differ materially from those anticipated or predicted by Nutanix’s forward-looking statements. All forward-looking statements are subject to other risks detailed in Nutanix’s Annual Report on Form 10-K for the fiscal year ended July 31, 2024, and the risks discussed in Nutanix’s other filings with the Securities and Exchange Commission. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. All forward-looking statements are qualified in their entirety by this cautionary statement, and Nutanix undertakes no obligation to revise or update this news release to reflect events or circumstances after the date hereof, except as required by applicable law. © 2024 Nutanix, Inc. All rights reserved. Nutanix, the Nutanix logo, and all Nutanix product and service names mentioned herein are registered trademarks or unregistered trademarks of Nutanix, Inc. (“Nutanix”) in the United States and other countries. Other brand names or marks mentioned herein are for identification purposes only and may be the trademarks of their respective holder(s). This press release is for informational purposes only and nothing herein constitutes a warranty or other binding commitment by Nutanix. Investor Contact: Richard Valera ir@nutanix.com Media Contact: Lia Bigano pr@nutanix.com
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The anticipation is building as AI agents are expected to dominate the tech landscape and stock market discussions in 2025. Emerging as pivotal growth catalysts, these smart technologies are positioned to drive major advancements for leading companies such as Microsoft, Nvidia, Google, Salesforce, and Amazon. What Are AI Agents? These intelligent systems are designed to streamline laborious tasks like extracting data from emails and auto-filling applications, significantly enhancing efficiency across various operations. Tech giants see immense potential in these innovations, with Microsoft and Nvidia at the forefront of the conversation. Leading the Charge: Microsoft and Nvidia Microsoft’s Charles Lamanna has highlighted noteworthy improvements within the company, citing faster resolutions in HR cases and a notable increase in IT self-help success rates by 36%. Additionally, they’ve experienced a 9.4% rise in income per seller, showcasing the transformative impact of AI on business processes. In parallel, Nvidia’s CEO Jensen Huang emphasized the significant role AI agents can play in nurturing commercial and consumer-driven innovations, suggesting they’re a critical step forward in technological advancement. Challenges and Considerations While the future seems promising, experts like Bob O’Donnell from TECHnalysis Research advise caution. The success of AI agents will depend heavily on their ability to consistently deliver accurate and effective outcomes. As excitement builds, the industry must ensure these agents can meet the high expectations set for them. The full potential of AI agents is yet to be realized, but their potential to revolutionize industries is undeniable. As 2025 nears, the tech world eagerly awaits this new chapter of innovation. AI Agents: Game-Changers or Just Hype? Insights into Their Future Impact As the tech world looks toward 2025, AI agents are anticipated to become key players in both technological advancement and stock market dynamics. These intelligent systems are not only fostering innovation in powerful companies like Microsoft, Nvidia, Google, Salesforce, and Amazon but are also set to revolutionize various industries by automating complex tasks with precision. Unfolding Innovations and Use Cases AI agents are transforming the business landscape by automating routine tasks such as data extraction from emails and auto-filling applications, thereby boosting operational efficiency. This advancement is pivotal for companies that are always on the lookout for optimizing time and resources. Notably, Microsoft has reported enhanced performance metrics in HR and IT departments, while Nvidia sees AI as instrumental in sparking both commercial and consumer-driven innovations. Specification and Features These systems are designed to interact intelligently with both structured and unstructured data, streamlining tasks that previously required human intervention. With the ability to learn and adapt, AI agents are becoming proficient at pattern recognition, predictive analytics, and decision-making processes that were traditionally human-led. Customizable workflows and scalability are key features appealing to tech giants investing in these technologies. Market Trends and Predictions By 2025, the market for AI-driven solutions is expected to witness substantial growth. The increasing demand for automation and intelligent analytics in sectors like finance, healthcare, and retail underscores the critical role AI agents will play. Companies investing in these technologies today are likely to gain a competitive edge in the near future. Challenges: Accuracy and Reliability Despite the promising outlook, the success of AI agents hinges on their ability to consistently provide accurate and effective results. Industry specialists, such as Bob O’Donnell from TECHnalysis Research, emphasize the importance of reliability and precision in AI operations. These systems must meet high performance standards to gain trust and traction in various applications. Security Aspects and Sustainability Security remains a significant concern as AI systems become more integrated into business operations. Companies are urged to implement robust security measures to protect sensitive data and prevent cyber threats. Additionally, sustainable AI practices are being prioritized, ensuring that AI development not only drives technological growth but also adheres to environmental considerations. Comparative Analysis: Microsoft vs. Nvidia Microsoft’s and Nvidia’s commitment to AI advancements highlights different strategic approaches. Microsoft focuses on improving internal efficiencies and increasing sales productivity, whereas Nvidia is leveraging AI to drive innovation across different consumer and commercial applications. Both companies illustrate the diverse potential and applicability of AI agents across industry sectors. Conclusion As we approach 2025, AI agents are poised to become fundamental components in the technological ecosystem. Given their transformative potential, stakeholders in technology and beyond are investing in these intelligent systems to future-proof operations and maximize growth opportunities. Whether they deliver on their potential remains to be seen, but the foundation for groundbreaking changes has been firmly set. For more insights into the evolving world of AI and tech innovations, visit Microsoft and Nvidia .
China's Leading DC Molded Case Circuit Breaker Manufacturer: W9 Group Technology Electronic Co., Ltd. 12-26-2024 06:00 PM CET | Industry, Real Estate & Construction Press release from: ABNewswire In the heart of Yueqing, Wenzhou-dubbed the "city of electrical appliances" in China-a new force in the electrical industry has emerged. W9 Group Technology Electronic Co., Ltd., founded in 2024, has quickly established itself as a pioneering manufacturer of DC molded case circuit breakers (MCCBs). With a modern manufacturing facility that encompasses trading, manufacturing, research and development, and design, W9 is dedicated to enhancing the reputation of high-standard Chinese manufacturing. The Importance of DC Molded Case Circuit Breakers [ https://www.w9-group.com/dc-mccb/ ] DC molded case circuit breakers play a crucial role in electrical systems by providing protection against overcurrents, such as overloads and short circuits. They are essential components in various applications, including renewable energy systems, industrial automation, and transportation networks. By selecting the right MCCB, system designers can ensure the reliability, safety, and efficiency of their electrical systems. Image: https://ecdn6.globalso.com/upload/p/1205/image_other/2024-11/a-5.png W9's Commitment to Quality and Innovation At W9 Group Technology Electronic Co., Ltd., we understand the importance of quality and innovation in the electrical industry. Our team of experienced engineers and technicians is constantly researching and developing new products that meet the evolving needs of our customers. Our commitment to excellence is reflected in every aspect of our operations, from raw material selection to final product testing. Comprehensive Product Range [ https://www.w9-group.com/product/ ] W9 offers a comprehensive range of DC molded case circuit breakers to cater to different applications and requirements. Our product line includes breakers with frame currents ranging from 125A to 2000A, and poles configurations of 1P, 2P, 3P, and 4P. We also provide a variety of voltage ratings, including 250V, 500V, 750V, 1000V, and 1500V, to ensure compatibility with various electrical systems. Image: https://ecdn6.globalso.com/upload/p/1205/image_other/2024-11/b-2.png Advanced Features and Benefits Our DC MCCBs are designed with advanced features that enhance their performance and reliability. Some of the key benefits of our products include:Adjustable Thermal Settings: Our adjustable thermal MCCBs, offer a range of thermal settings that can be customized to match the specific load requirements of the application. This ensures optimal protection against overloads without compromising system performance.Electronic Trip Units: Our electronic MCCBs, feature sophisticated trip units that provide accurate and reliable protection against short circuits and ground faults. These units can be programmed to meet specific application needs, offering flexibility and convenience.High Interrupting Capacity: Our breakers are designed with high interrupting capacities (ICU) to handle severe fault currents. This ensures that the breaker can safely interrupt the fault current and prevent damage to the electrical system and equipment.Compact Design: Our MCCBs feature a compact and robust design that is suitable for installation in confined spaces. This makes them ideal for applications where space is limited, such as in renewable energy systems and industrial automation equipment. Applications and Industries W9's DC molded case circuit breakers are widely used in various industries and applications. Some of the key areas where our products are deployed include:Renewable Energy: Our breakers are ideal for protecting solar and wind power generation systems. They provide reliable protection against overcurrents and ensure the continuous operation of the renewable energy systems.Industrial Automation: In industrial automation applications, our MCCBs offer robust protection against faults and overloads, ensuring the reliability and efficiency of automation equipment. Image: https://ecdn6.globalso.com/upload/p/1205/image_other/2024-11/c-3.png Transportation: Our breakers are used in transportation systems, such as electric buses and trains, to protect the electrical systems and ensure safe operation. Commercial and Residential Buildings: Our products are also used in commercial and residential buildings to provide protection for electrical circuits and ensure the safety of occupants. Customized Solutions In addition to our standard product range, W9 Group Technology Electronic Co., Ltd. offers customized solutions to meet the unique needs of our customers. Our team of experienced engineers can work closely with customers to design and manufacture MCCBs that meet specific application requirements. This ensures that our customers receive the optimal protection for their electrical systems, tailored to their specific needs. The W9 Advantage Choosing W9 Group Technology Electronic Co., Ltd. as your DC molded case circuit breaker manufacturer offers several advantages: Quality Assurance: We adhere to strict quality control procedures to ensure that every product meets the highest standards of quality and reliability. Competitive Pricing: We offer competitive pricing without compromising on quality, making our products accessible to a wider range of customers. Excellent Customer Service: Our dedicated customer service team is committed to providing timely and efficient support to our customers. We are always available to answer questions, provide technical assistance, and ensure that our customers are satisfied with their purchases. Ongoing Research and Development: We invest heavily in research and development to stay ahead of the latest trends and innovations in the electrical industry. This ensures that our products remain cutting-edge and competitive in the market. Conclusion In summary, W9 Group Technology Electronic Co., Ltd. is a leading manufacturer of DC molded case circuit breakers in China. With a comprehensive product range, advanced features, and a commitment to quality and innovation, we are dedicated to providing our customers with the best possible protection for their electrical systems. Our customized solutions and excellent customer service make us the ideal partner for anyone looking for reliable and efficient MCCBs. About W9 Group Technology Electronic Co., Ltd. [ https://www.w9-group.com/company/ ] W9 Group Technology Electronic Co., Ltd. is a modern manufacturing company headquartered in Yueqing, Wenzhou, China. Our factory area totals [insert total factory area here] square meters, equipped with state-of-the-art machinery and equipment to ensure the precision and quality of our products. With a focus on research and development, we continuously strive to innovate and improve our offerings to meet the evolving needs of the electrical industry. Trust W9 Group Technology Electronic Co., Ltd. for your DC molded case circuit breaker needs and experience the difference that quality and innovation make. Media Contact Company Name: W9 group Technology Electronic Co,. Ltd. Email:Send Email [ https://www.abnewswire.com/email_contact_us.php?pr=chinas-leading-dc-molded-case-circuit-breaker-manufacturer-w9-group-technology-electronic-co-ltd ] Phone: +8615906878798 Address:No. 36, Punan Second Road, Yueqing Economic Development Zone City: Wenzhou State: Zhejiang Country: China Website: https://www.w9-group.com/ This release was published on openPR.
Michael Cole , who played Pete Cochran, one of the three hip young cops on “ The Mod Squad ,” died Tuesday. He was 84. Cole’s reps said he died “peacefully this morning, surrounded by loved ones, after living a full and vibrant life.” Born on July 3, 1940, in Madison, Wisc., Cole guested on shows like “Gunsmoke” before breaking through on “The Mod Squad.” The series aired from 1968 to 1973, co-starring Peggy Lipton and Clarence Williams III. Cole’s character Pete Cochran had been a troubled youth who found redemption through his work on the squad, and the show often tackled contemporary social issues. After “The Mod Squad,” Cole continued to work on shows including “Murder, She Wrote,” “Fantasy Island” and “The Love Boat” and in movies like “Grave Misconduct.” His memoir was called “I Played the White Guy,” and offered a candid and heartfelt account of his experiences in Hollywood. He is survived by his wife Shelley and his children.Pride, bragging rights and more than $115M at stake when final college playoff rankings come out
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President-elect on Monday held a wide-ranging news conference in which he said he would preserve access to the polio vaccine but equivocated on other vaccines, pledged to look at bringing down the costs of pharmaceuticals and expressed doubts that his daughter-in-law might be Florida's next senator. Trump held forth for over an hour, the first time he took questions from reporters since winning the election. The event harkens back to his long-winding news conferences from his first term and is a stark contrast from President , who doesn't often take questions from reporters. Here's a look at some of what he touched on: Trump defended his choice for health secretary, prominent vaccine skeptic , but said he personally is a “big believer” in the polio vaccine and would preserve access to it. “You’re not going to lose the polio vaccine," he said. “That’s not going to happen.” Over the weekend, Senate Republican Leader Mitch McConnell, who had polio as a child, after a recent report disclosed that one of Kennedy's advisers filed a petition to revoke approval for the polio vaccine in 2022. Kennedy has long advanced the debunked idea that vaccines cause autism. Trump seemed to question whether there’s a link, saying “We’re looking to find out,” and remarked on the rising cases of autism being diagnosed. “There’s something wrong, and we’re going to find out about it,” he said. There are no blood or biological tests for autism; instead, a doctor bases the diagnosis on a child’s behavior. While the autism diagnosis has been available for at least 80 years, the definition gradually expanded to include milder cases, which are more common. A study last year found that about a quarter of kids with autism — about 110,000 in the U.S. — have the most severe version of the developmental disability, which has left them unable to speak or with an IQ below 50 or both. Of Kennedy, “He’s going to be much less radical than you would think," he said. "I think he’s got a very open mind, or I wouldn’t have put him there.” Trump described a dinner he had this month with Kennedy; Dr. , a celebrity heart surgeon turned talk show host and lifestyle guru whom he's tapped to run the Centers for Medicare and Medicaid Services; and top pharmaceutical executives in which they discussed drug prices. Trump heaped praise on the companies — the same ones that Kennedy has routinely argued profit off of Americans unfairly — but said the high cost of health care was a focus of their dinner. “What came out of that meeting is that we’re paying far too much,” Trump said. Trump also hit pharmaceutical benefits managers, calling them “horrible middlemen” who drive up the cost of drugs. Pharmaceutical companies have been aggressively lobbying Congress to restrict the role of pharmaceutical benefit managers, which help health insurance companies’ biggest clients decide how and what prescription drugs will be covered in their insurance plans. “I don’t know who these middlemen are, but they are rich as hell," Trump said. The press conference was Trump’s most extensive public appearance since his victory six weeks ago — a rare absence from the public stage for the former reality star. But it also underscored how even while president-elect, Trump has seized the spotlight from Biden, who still has a month left on his term in office. Biden has not held a press conference in months and has had a limited public schedule. While Trump was addressing some of the top-of-mind issues of the day -- including sightings of drones flying over the Northeast -- Biden himself has been silent, leaving it to aides to try to calm the public. Trump seemed skeptical that Florida Gov. Ron DeSantis would appoint his daughter-in-law to be a Florida senator, taking the seat held by Marco Rubio, who has been nominated for secretary of state. Asked whether he expected DeSantis to name Lara Trump to replace Rubio, Trump said, “I probably don’t, but I don’t know.” Trump recently spoke with DeSantis at a memorial for Florida law enforcement officers. Trump's allies have been Lara Trump, who is married to Trump's son, Eric, and served as co-chair of the Republican National Committee this year. “Ron’s doing a good job with his choice," Trump said, without elaborating. He lavished praise on Lara Trump, including for her work at the RNC, where part of her duties involved focusing on “election integrity,” a priority of Trump's after he falsely claimed fraud in the 2020 presidential election. Trump indicated he would look at intervening in the in the U.S. The popular social media platform must cut ties with its China-based parent company or be banned by mid-January under a federal law. He didn't offer specifics, but Trump credited the platform with helping him win the election. His campaign saw it as a bridge to reach younger, less politically engaged voters, particularly when clips circulated showing him with celebrities at UFC fights. “We’ll take a look at TikTok,” he said. “You know, I have a warm spot in my heart for TikTok." Trump tried to ban TikTok during his first term but changed his mind and pledged to “save” TikTok. Once he takes office, his Justice Department would be tasked with enforcing the new federal law against TikTok. Trump on Monday was meeting with TikTok CEO Shou Chew at his Mar-a-Lago club, according to two people familiar with the president-elect’s plans who were not authorized to speak publicly about them and spoke to AP on condition of anonymity. Trump noted the differences between the first time he was to take office eight years ago and today, saying executives now want to meet with him. He said they were “hostile” back then. “Everybody was fighting me,” he said about his first term. “This term, everybody wants to be my friend. I don’t know. My personality changed or something.” While he left office in 2021 ostracized and angry, Trump has had a stunning turnaround leading to his election win. Last week, he was honored by being named Time magazine’s Person of the Year and ringing the opening bell at the New York Stock Exchange. His meeting with the TikTok executive was part of a string of meetings he's had with Silicon Valley billionaires and other technology leaders since becoming president-elect. Facebook founder Mark Zuckerberg, Apple CEO Tim Cook and Google CEO Sundar Pichai have all flown to Trump's club to meet with him. He revealed Monday that he had also met with Google co-founder Sergey Brin. Amazon founder Jeff Bezos will meet with him this week, Trump said. “We have a lot of great executives coming in — the top executives, the top bankers, they’re all calling," he said. "It’s like a complete opposite from the first one.” With multiple wars going on, Trump has sought to insert himself back on the world stage. He said he is working to get Israeli hostages held by Hamas in Gaza to be released and had a “very good talk” with Israeli Prime Minister Benjamin Netanyahu. But on Monday he seemed to buffer expectations about his promise to solve the even before taking office, describing the conflict as a “tough one” and a “nasty one." “We are trying to get that war stopped, that horrible, horrible war” he said. “It’s a tough one. It’s a nasty one. It’s nasty. People are being killed at levels that nobody’s ever seen.” Russia's invasion of Ukraine is Europe’s biggest armed conflict since World War II and has cost tens of thousands of lives on both sides. Trump declined to say whether he's spoken to Russian President Vladimir Putin since winning the election. He this month when he visited for the reopening of Notre Dame Cathedral. Trump's incoming press secretary has said that to his Jan. 20 inauguration, but Trump said Monday that Zelenskyy was not among them. “If he'd like to come, I'd like to have him," Trump said. Trump said Xi has not yet said whether he is coming. He described the Chinese leader as “a friend of mine” and “an amazing guy” but acknowledged that the COVID-19 pandemic had affected their relationship. “It was a bridge too far for me,” he said. Associated Press writers Zeke Miller and Amanda Seitz in Washington and Colleen Long in Palm Beach, Florida, contributed to this report.