Tag: Business
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Jim Cramer says the market’s reaction to Samsung may signal a shift in AI leadership
CNBC’s Jim Cramer said Samsung’s earnings sparked a sell-off in AI hardware stocks, while many tech names that have lagged this year rebounded.
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SpaceXAI plans to launch new model with Cursor as soon as Wednesday, The Information reports
July 7 : SpaceXAI and Cursor plan to launch their first jointly developed AI model as soon as Wednesday, The Information reported, citing a memo sent to staff.The companies pushed back plans to launch the new model earlier this week in order to improve its efficiency, according to the report published on Tue
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Trading Day: A chip on our shoulder: Volatile semis drag US stocks lower, crude jumps
NEW YORK, July 7 : Wall Street stocks followed their European counterparts lower amid a chip-driven tech selloff on Tuesday as a flare-up of Middle East tensions sent crude prices higher.I will go into more detail on today’s market moves below. If you have more time to read, here are a few articles I recommen
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Amazon aims to raise $25 billion from bond sale, source says
July 7 : Amazon.com is looking to raise at least $25 billion through a U.S. dollar bond sale, a source familiar with the matter told Reuters on Tuesday, in the company’s latest push to fund its hefty AI investments. Tech companies have been tapping debt markets and launching equity sales to fund their costly
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Perplexity says it plans to use Nvidia’s new CPU
SAN FRANCISCO, July 7 : AI startup Perplexity on Tuesday confirmed it plans to use Nvidia’s new central processing units, as the chip giant works to broaden its market and take on entrenched players such as Intel and Advanced Micro Devices.Nvidia has said it expects to generate $20 billion in sales from its “
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Oil jumps after settlement as US revokes general license for Iran oil sales
NEW YORK, July 7 : Oil prices settled 3 per cent higher on Tuesday and then extended gains post-settlement, after the U.S. revoked the general license that authorized the sale of Iranian crude oil. Reports of attacks on vessels near the Strait of Hormuz also revived fears of disruptions to tanker shipping.Bre
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Dollar edges higher after data as yen holds near 40-year low
NEW YORK, July 7 : The dollar rose modestly on Tuesday following consecutive sessions of slight declines while the yen held near a four-decade low, as investors continued to watch for signs of possible intervention by Japanese authorities to support the currency.The greenback showed a muted reaction to report
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Meta expands generative AI tools with Muse Image rollout
July 7 : Meta Platforms said on Tuesday it is rolling out Muse Image, its first image-generation model from Meta Superintelligence Labs, as the Facebook owner expands generative AI tools across its apps.The company said Muse Image, which is integrated into its Meta AI chatbot, can interpret complex prompts, u
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Judge approves $46.75 million payout for 23andMe data breach victims
July 7 : A U.S. bankruptcy judge on Tuesday approved a $46.75 million settlement for victims of a 2023 data breach at the genetic testing company 23andMe, which exposed genetic and other personal information of an estimated 6.9 million customers.U.S. Bankruptcy Judge Brian Walsh in St. Louis said the settleme
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US power use to beat record highs in 2026 and 2027 as AI use surges, EIA says
NEW YORK, July 7 : U.S. power consumption, which hit its second straight annual record high in 2025, will rise further in 2026 and 2027, driven by AI-hungry data centers and electrification, the Energy Information Administration (EIA) said in its Short-Term Energy Outlook (STEO) on Tuesday.The EIA projected p
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