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Cerebras shares drop on earnings debut, with margins below AI chip rivals
June 23 : Cerebras Systems on Tuesday forecast 2026 revenue that beat Wall Street estimates, but shares sank as the company’s gross margin forecast confirmed it will be an uphill battle to challenge AI chip leader Nvidia in key markets.Cerebras shares fell 7.8 per cent in extended trading.Cerebras, wh
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Chip stocks plunge, but bargain-hunters stem losses in other tech names
June 23 : U.S. chip stocks stumbled on Tuesday, but the broader market’s initial slump brought out bargain-hunting investors, stemming the falloff in other companies central to the AI infrastructure rally that have powered the market over the last few years.The tech-heavy Nasdaq Composite index was still down
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Stocks drop as Fed rate bets hit tech royalty; dollar gains
LONDON, June 23 : Global stocks fell on Tuesday, led by broad-based declines in technology shares, including SpaceX, as growing expectations for the Federal Reserve to be more aggressive in tackling inflation drove investors into bonds and the dollar.Futures on the Nasdaq were down more than 2.5 per cent, sug
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SpaceX extends losses after $600 billion wipeout, tech stocks slide again
June 23 : Shares of Elon Musk’s SpaceX slipped further on Tuesday following a three-session selloff that wiped out more than $600 billion from the company’s market value, with the highly valued technology sector on track to extend the rout.The rocket and AI company’s shares fell 1.9 per cent to $151.6 earlie
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French mid-sized firms adopt AI but see few gains, survey shows
June 23 : Generative AI use is spreading quickly among French mid-sized companies, but most have yet to report clear productivity benefits, according to a survey by state-backed investment bank Bpifrance.Bpifrance said in its annual barometer of Entreprises de Taille Intermédiaire, or ETIs, that 77 per cent
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Fed hike could push yen to 165 per dollar, ex-BOJ policymaker says
BENGALURU, June 23 – The Japanese yen could weaken to 165 per dollar if the Federal Reserve raises interest rates this year, former Bank of Japan policymaker Sayuri Shirai said on Tuesday, as wide U.S.-Japan rate differentials and doubts about Tokyo’s appetite for intervention maintain pressure on the currency.
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Nasdaq 100 set to shed over $1 trillion as tech selloff deepens; SpaceX slides
June 23 : The Nasdaq 100 index was on pace to erase more than $1 trillion in market value on Tuesday as technology heavyweights and chip stocks tumbled, while Elon Musk’s SpaceX dropped below $2 trillion in market cap for the first time since its U.S. debut.SpaceX, which is expected to join the Nasdaq 100,…
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Stocks hit by Fed rate reality check; oil slips
LONDON, June 23 : Global stocks fell on Tuesday, led by broad-based declines in technology stocks, as investors expect the Federal Reserve to take more aggressive action to tackle inflation, even after a 16 per cent drop in oil prices this month.The STOXX 600 fell 1.2 per cent, under pressure from declines in
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EV demand powers Europe car market in May, Chinese rivals expand share
June 23 : Demand for electrified cars continued to underpin growth in Europe’s auto market in May, offsetting a sharp decline in petrol and diesel sales and allowing Chinese brands to expand their footprint, data from the European Automobile Manufacturers’ Association (ACEA) showed on Tuesday.Total car regi
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Kadokawa, Japan’s ‘Elden Ring’ powerhouse, faces battle over CEO at shareholder meeting
TOKYO, June 23 : Kadokawa, the Japanese firm behind the dark epic “Elden Ring” video game franchise, is now facing a nightmare of its own: an activist shareholder who wants its CEO gone, wielding a big stake and proxy advisor support.The showdown will take place at Wednesday’s annual general meeting and is be
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