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Uber to Acquire 85% Stake in Turkey’s Trendyol GO for $700 Million

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Uber announced on Tuesday that it will acquire an 85% controlling stake in Trendyol GO, Turkey’s fast-growing food and grocery delivery platform, in a $700 million deal. The move marks a strategic push into high-growth international markets as Uber faces market saturation in North America.

Trendyol GO, a subsidiary of Turkish e-commerce giant Trendyol Group, currently delivers food and groceries across the country, partnering with over 90,000 restaurants and markets and utilizing a fleet of 19,000 couriers. The platform fulfilled more than 200 million orders in 2024, with gross bookings of approximately $2 billion, representing a 50% year-on-year growth, Uber said.

The acquisition is expected to close in the second half of 2025. Following the deal, Trendyol GO will retain its independent branding and operations, while Uber plans to gradually integrate elements from its global food delivery platform, Uber Eats.

This expansion comes shortly after Uber dropped its $950 million bid for Delivery Hero’s Foodpanda in Taiwan, citing regulatory issues. Uber’s broader strategy includes expanding its delivery business and exploring self-driving vehicle partnerships to diversify revenue beyond its ride-hailing core.

Meanwhile, competition in the food delivery space is intensifying. DoorDash announced on the same day that it will acquire UK-based Deliveroo for $3.85 billion, aiming to strengthen its European presence and compete more effectively with Uber Eats and Just Eat.

Uber will release its Q1 earnings report on Wednesday, and analysts are watching closely to see how international investments like Trendyol GO might bolster its global growth outlook.

Gartner Hikes 2025 Profit Outlook Despite Revenue Trim, Citing Cost Discipline

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Gartner Inc. (IT.N) on Tuesday raised its 2025 profit forecast after posting better-than-expected Q1 earnings, thanks to strict cost-cutting measures and resilient demand for its subscription research services. The company now expects adjusted EPS of at least $11.70, up from its prior estimate of $11.45.

The technology research and advisory firm, which serves clients like Accenture and Cognizant, reported Q1 adjusted earnings of $2.98 per share, surpassing analyst expectations of $2.72, according to LSEG. Despite macroeconomic headwinds such as tariff-driven volatility, Gartner’s research segment, its largest, grew 4.2% year-on-year, helping cushion softness in other areas.

Total Q1 revenue came in at $1.53 billion, a 4.2% year-over-year increase but slightly below analysts’ forecast of $1.54 billion. The company revised its full-year 2025 revenue guidance slightly downward to $6.53 billion, from the earlier $6.56 billion estimate.

Costs rose by just 4.7%, a marked slowdown from the 8.8% increase in the prior quarter, signaling effective cost management. Gartner operates in three core business units:

  • Research (subscription-based insights)

  • Consulting (custom advisory services)

  • Conferences (networking and executive events)

While the company anticipates modest revenue growth, its higher earnings guidance highlights confidence in margin stability driven by efficiency improvements and robust retention in recurring services.

Broadcom Shares Surge on Strong AI Chip Demand and Positive Forecast

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Broadcom’s shares surged in after-hours trading on Thursday, jumping 14% following a solid second-quarter forecast that alleviated investor concerns over AI chip demand. The surge came after the company reported better-than-expected revenue and a strong outlook, especially in its AI semiconductor segment. The upbeat forecast contrasts with Marvell Technology’s disappointing outlook earlier in the week, which had spooked the market.

Broadcom expects revenue of approximately $14.90 billion for the second quarter, surpassing analyst estimates of $14.76 billion, according to data compiled by LSEG. CEO Hock Tan reassured investors that demand for its custom AI chips is robust, particularly from cloud computing companies seeking alternatives to Nvidia’s expensive processors. Broadcom anticipates second-quarter revenue from its AI semiconductors to reach $4.4 billion, driven by significant investments from hyperscale customers for data center expansion.

Broadcom is increasingly benefiting from the trend of large tech companies moving away from off-the-shelf chips toward custom-made processors to meet the growing complexity of AI tasks. CEO Tan revealed that the company now has four additional hyperscale customers working closely with it to develop custom chips, joining the three existing customers using its AI processors. This growing customer base has contributed to Broadcom’s estimated revenue potential of $60 billion to $90 billion by 2027.

Notably, Broadcom is working with OpenAI to finalize the first custom chip design to reduce its reliance on Nvidia. Analysts like Anshel Sag from Moor Insights & Strategy have noted that Broadcom is positioning itself as a key player for hyperscalers and other companies wanting to control their AI designs and costs by developing their own custom AI accelerators.

In terms of manufacturing, Broadcom is exploring Intel’s most advanced process, 18A, through test wafers. Summit Insights analyst Kinngai Chan highlighted that Broadcom is better positioned than many of its peers due to its diversified exposure to the AI market, with multiple AI-specific customers for its chips.

In its first-quarter earnings report, Broadcom posted revenue of $14.92 billion, surpassing analysts’ expectations of $14.61 billion. The company’s AI revenue saw a remarkable 77% increase, reaching $4.1 billion, driven by the growing adoption of its custom accelerators. Broadcom’s infrastructure software segment also experienced strong growth, with revenue rising by over 47% to $6.70 billion, beating the $6.49 billion anticipated by analysts.