The EU General Court has delivered mixed rulings in two antitrust cases against tech giants Google and Qualcomm. Google successfully challenged a €1.49 billion fine imposed by the EU for abusing its dominance in the …
Continue readingTag: Nvidia
AI Chip Startup Groq Raises $640 Million, Valuation Hits $2.8 Billion
Semiconductor startup Groq has secured a significant $640 million Series D funding round, propelling its valuation to a substantial $2.8 billion. The investment round, led by prominent investors including Cisco Investments, Samsung Catalyst Fund, and …
Continue readingIntel Stock Plunges 20% in Worst Selloff Since 2000 Amid Turnaround Struggles
Intel’s stock is set to plummet by nearly 20% in pre-market trading, marking its worst single-day decline since 2000. This dramatic drop comes after the company announced a 15% workforce reduction and the suspension of …
Continue readingTSMC Q2 Revenue Soars 32% on AI Boom
Taiwan Semiconductor Manufacturing Co (TSMC), the world’s largest contract chipmaker, reported a significant revenue increase in the second quarter, driven by the booming demand for chips powering artificial intelligence (AI) applications. This growth far surpassed …
Continue readingxAI and Oracle End $10 Billion Server Deal Talks
Elon Musk’s artificial intelligence startup xAI has ended talks with Oracle for a potential $10 billion server deal, according to The Information. The deal would have expanded on an existing arrangement where xAI rents Nvidia’s …
Continue readingSamsung Q2 Profit Skyrockets on AI Chip Boom, Memory Prices Surge
Samsung Electronics is poised for a record-breaking second quarter, with estimates indicating a staggering 15-fold increase in operating profit. The surge is attributed to the artificial intelligence (AI) boom, which has driven up semiconductor prices …
Continue readingAI Stock Frenzy: Nvidia Downgraded, Pure Storage Slumps, Dell Gets a Boost
The AI sector is witnessing a rollercoaster of stock activity as analysts assess the impact of the burgeoning technology on various companies. Nvidia, the leading GPU maker, received a downgrade from New Street Research, citing …
Continue readingDow Surges to One-Month High on Rotation, Nasdaq Drops as Investors Eye Fed Cuts
The Dow Jones Industrial Average closed at a one-month high on Monday, fueled by a rotation out of AI-linked stocks and into laggards as investors bet on Federal Reserve interest rate cuts later this year. …
Continue reading