Tag: Business
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AMD forecasts revenue above estimates on AI chip demand, but shares fall
Aug 4 : AMD forecast quarterly revenue above Wall Street estimates on Tuesday, banking on strong demand for its chips from massive data-center capacity expansions to power AI technologies.Shares of the Santa Clara, California-based company, however, fell over 8 per cent in extended trading.The company
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Match’s weak quarterly revenue forecast clouds improving trends at Tinder
Aug 4 : Match Group forecast third-quarter revenue below Wall Street estimates on Tuesday, overshadowing signs of improvement in its struggling Tinder app and continued growth at its Hinge dating app, sending its shares down 9 per cent in extended trading.The weak outlook stems from the company’s Everyone Eve
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Lucid begins ‘operational reset’ as CEO says EV maker will delay midsize vehicle
The company didn’t provide updated guidance. New CEO Silvio Napoli earlier this year suspended production expectations.
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AI data-centre race builds $1 trillion lease burden for Big Tech
Aug 4 : Microsoft Corp, Meta Platforms Inc, Oracle Corp, Amazon and Alphabet have committed about $1.09 trillion in future payments under leases that have not yet begun, mostly for data centres needed to power the artificial intelligence boom.The commitments show that a substantial part of Big Tech’s AI spend
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Analysis:Oracle Corp goes for high-stakes ratings gamble in AI strategy
LONDON, Aug 4 : Cloud computing giant Oracle Corp is on the cusp of a junk-grade credit rating and its shares have tanked as the artificial intelligence hyperscaler becomes the fall guy of investors’ concerns over the sector’s debt-fuelled spending binge. The U.S. multinational is an outlier among top softwar
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Chipotle stock falls on potential link to salmonella outbreak in Minnesota
Chipotle has pulled the affected supply from restaurants and replaced them with peppers from different growers, according to the company.
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The S&P 500 is back at all-time highs, but technical analysts are eyeing this key level
The broad market index will have to close decisively above the 7,620 resistance level to confirm a breakout.
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Meta, Anthropic, Google, OpenAI to meet with Trump advisers amid rogue AI agent fallout
WASHINGTON, Aug 4 : Meta, Anthropic, Google and OpenAI staff will meet with U.S. President Donald Trump’s advisers on Tuesday about voluntary safety testing for advanced AI models, according to four sources familiar with the meeting, as concerns over rogue AI agents grow.The meeting follows disclosures from
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SK Hynix rises as brokerages launch coverage with bullish ratings
Aug 4 : Recently listed U.S. shares of SK Hynix rose 5 per cent after six brokerages started coverage of the South Korean chipmaker with bullish ratings, citing its dominance in the booming AI memory market and access to a broader global investor base.The American Depositary Receipts of SK Hynix, whose primar
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Yen eases but retains intervention-driven gains
NEW YORK, Aug 4 : The yen eased on Tuesday but held on to most of its gains from last week’s rare coordinated intervention by Tokyo and Washington.The Japanese currency had rallied as much as 5 per cent over the last three trading sessions, with Japan confirming coordinated yen-buying intervention on Friday w
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