By Arsheeya Bajwa TAIPEI (Reuters) – Advanced Micro Devices unveiled its latest artificial intelligence processors on Monday and detailed its plan to develop AI chips over the next two years in a bid to challenge industry leader Nvidia. At the Computex technology trade show in Taipei, AMD CEO Lisa Su introduced the MI325X accelerator, which…
(Reuters) – Nvidia led global companies in market cap gains in May, buoyed by a stunning rally as its bumper revenue forecast reinforced investor confidence in the AI-driven surge in chip demand. Nvidia’s market cap soared to $2.69 trillion at the end of May, marking a nearly 25% increase during the month, as the announcement…
(Reuters) – A Tesla shareholder filed a lawsuit on Thursday accusing CEO Elon Musk of insider trading when he sold over $7.5 billion of shares of the electric car maker in late 2022, saying the billionaire entrepreneur sold the shares before potentially disappointing production and delivery numbers were made public. Shareholder Michael Perry, in the…
By Lisa Barrington DUBAI (Reuters) – Delta Air Lines is still committed to the Boeing 737 MAX 10 model that it has on order for deliveries beginning next year, even though it does not anticipate receiving the aircraft for some time, CEO Ed Bastian said on Saturday. Delta, one of the largest U.S. airlines, operates…
(Reuters) – Dell Technologies shares tumbled about 14% in premarket trading on Friday, as the PC and server maker expects sizeable AI investments to dent its quarterly profit. Dell is on track to lose more than $17 billion in market value, if premarket losses hold. The stock has more than doubled this year. Companies, including…
By Kanchana Chakravarty and Arsheeya Bajwa (Reuters) -Salesforce shares slumped about 18% on Thursday, after its lowest-ever quarterly revenue growth forecast raised fears that high interest rates and rival AI offerings were hampering demand at the cloud-based software firm. The company could lose more than $48 billion in market value if losses hold, as it…
(Reuters) -Costco Wholesale beat third-quarter revenue expectations on Thursday, as cash-strapped consumers flocked to its warehouses to grab low-priced groceries and discretionary items. The membership-only retailer saw resilient demand for its groceries and bakery items as consumers grappling with still-high cost of living preferred cooking more meals at home. With consumers trading down to shop…
(Reuters) -Gap raised its annual sales forecast and its first-quarter results beat market expectations, boosted by strength in its Old Navy and Gap brands as budget-strained Americans snap up its trendy denim bottoms and active wear apparel. Shares of the company surged 21% after the bell as the Banana Republic owner saw strong spring shopping,…
(Reuters) -Dell Technologies beat Wall Street estimates for first-quarter revenue on Thursday, ending a streak of six-quarters of decline, but its results fail to impress investors, sending its shares down more than 13% in extended trading. A surge in demand for high-performance computing and large-scale data centers to support growing adoption of generative AI has…
(Reuters) – Merck on Wednesday agreed to acquire privately held biotech EyeBio for as much as $3 billion, the latest in a string of deals by the US drugmaker to bolster its future growth. It agreed to pay $1.3 billion in cash and another $1.7 billion in future milestone-based payments for EyeBio, and will gain…
