(Reuters) – Nvidia’s stock market value hit $3 trillion for the first time on Wednesday as the chipmaker benefited from a race between Wall Street’s heavyweights to dominate AI technology. Shares of the maker of specialized AI chips were last up 4.75%. Nvidia shares touched an intra-day record high of $1,219.93, giving it a market…
(Reuters) – GameStop is back in the limelight after a hiatus of three years with the return of social media influencer “Roaring Kitty” Keith Gill, a key figure in the Reddit-driven “meme stock” rally of 2021. Here is a timeline of the key developments for the struggling video game retailer: July 27, 2020- “Roaring Kitty”…
(Reuters) -Tesla will likely spend between $3 billion and $4 billion on its purchases of chip company Nvidia’s hardware this year, CEO Elon Musk said in a post on X on Tuesday. Musk also said that out of the $10 billion in artificial intelligence-related capital expenditure this year, around half would be internal spend. “For…
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…
By David Shepardson WASHINGTON (Reuters) – American Airlines told an appeals court Monday would consider a new arrangement with JetBlue Airways if it wins a ruling reversing a May 2023 decision requiring it to end an alliance. U.S. District Judge Leo Sorokin ruled in the airlines’ “Northeast Alliance” (NEA) that allowed the two carriers to…
By Yousef Saba, Hadeel Al Sayegh and Maha El Dahan DUBAI (Reuters) -Saudi Arabia’s sale of shares in oil giant Aramco drew more demand than the stock on offer within hours of kicking off on Sunday, a landmark deal that could raise up to $13.1 billion in a major test of international appetite for the…
By Ahmad Ghaddar, Alex Lawler and Maha El Dahan LONDON/DUBAI (Reuters) -OPEC+ will likely agree on Sunday to prolong its deep oil output cuts into 2024 and possibly 2025, two OPEC+ sources said as the group seeks to shore up the market amid tepid global demand growth, high interest rates and rising rival U.S. production….
(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 Stephen Nellis (Reuters) – Trend Micro on Sunday said it is working with Nvidia to create new cybersecurity tools that use artificial intelligence and are designed to protect the data centers where AI work happens. The tools, which Trend Micro planned to show at the Computex conference in Taiwan beginning on Sunday, will be…
(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…
