DELL FORECAST AI DEMAND
Samsung Electronics forecasts major Q2 profit jump
Samsung Electronics said Friday it expects second-quarter operating profits to rise more than 15-fold on-year as chip prices bounce back and demand for generative AI continues to grow. The world's largest memory chip maker said in a regulatory filing that its April-June operating profits were expected to rise to 10.4 trillion won ($7.54 billion), up 1,452.2 percent from 670 billion won a year earlier.
Micron Tech beats revenue estimates on AI chip demand; shares fall after run-up
Benefiting from the high demand for memory chips, Micron Technology's revenue exceeded expectations in the third quarter. However, the company's forecast for the fourth quarter fell short of optimistic investor expectations, leading to a stock price decline. Micron's unique position in the semiconductor market is driven by the widespread usage of its high-bandwidth memory chips in advanced AI systems.
Nvidia loses top spot to Microsoft after 3% drop
Nvidia's shares declined, losing its title as the world's most valuable company to Microsoft. Nvidia's market capitalization dropped by $91 billion to $3.34 trillion, while Microsoft's value also decreased to $3.30 trillion.
Broadcom soars as demand for AI chips powers forecast raise
Broadcom surged about 15% on Thursday as its upbeat annual forecast highlighted insatiable demand for chips used in powering AI-focused technology, while its announcement of a stock split added to the euphoria.
Japan's Advantest says AI demand boosting memory tester business
HBM, a type of high performance memory where chips are stacked to save space and reduce power consumption, is used when processing the large amount of data needed for AI tasks.
Nvidia hitting $3 trillion propels Jensen Huang’s wealth above Michael Dell’s
On Friday, Huang reached another milestone, surpassing personal computer pioneer Michael Dell to become the world's 13th-richest person with a net worth of $106.1 billion, according to the Bloomberg Billionaires Index. His wealth has increased by more than $62 billion this year, driven by the insatiable demand for Nvidia chips used in artificial intelligence tasks.
Nvidia's market cap hits $3 trillion briefly, overtaking Apple as second most valuable company
The latest rally in Nvidia comes as it prepares to split its stock ten-for-one, effective on June 7, a move that could increase its appeal to individual investors.
Hewlett Packard surges over 12% as AI-server demand powers strong results
Analysts at Bernstein said this suggests potential for HPE and peer Dell Technologies to have "very strong shipments over the next quarter or two as they deliver on backlog", but it depends upon customers being willing to take deliveries earlier.
Sinking profits bring reality check to AI-driven rally in emerging market stocks
Unilever Plc’s Indian unit reported a 5.5% drop in net income for the first quarter, missing analyst estimates. Behind the decline was sluggish rural demand combined with high net-worth urban consumers pivoting to other brands. Similar trends can be seen elsewhere, with Chilean retailer Cencosud SA, restaurant chain operator Yum China Holdings Inc. and Swiss-South African jeweler Compagnie Financiere Richemont SA all delivering weaker-than-expected results.
Nvidia set to overtake Apple as world's second-most valuable company at $2.68 trillion
Nvidia could soon surpass Apple to become the world's second-most valuable company, benefitting from the surge in adoption of AI applications. Nvidia's high-end chips power virtually all AI applications, propelling its stock value to $2.68 trillion.
Dell shares slump 18% as heavy AI investments expected to dent margin
Dell's stock is projected to lose over $21 billion in market value, despite having experienced a remarkable 80% surge earlier this year. The company, like many others, has made significant investments in advanced server hardware to accommodate the growing demand for complex artificial intelligence processing.
WienerAI price prediction – Next 100x meme coin?
WienerAI, a meme coin featuring a Wiener dog and AI, is gaining popularity with its presale exceeding $3.1 million. The project includes an AI-powered trading bot, offering an edge in the crypto market.
Salesforce plummets 18% as weak forecast sparks concerns of AI competition
Salesforce shares slumped about 18% on Thursday, after its lowest-ever quarterly revenue growth forecast raised fears that high interest rates and rival AI offerings were hampering demand at the cloud-based software firm.
Nvidia CEO Huang expects AI-generated videos to drive more demand for its chips
After riding a demand surge sparked by Big Tech's rush to roll out chatbots, Nvidia now expects new AI models that are capable of creating video and engaging in human-like voice interactions to spur more orders for its graphics processors.
Nvidia adds over $200 billion in market value in post-earnings rally
Nvidia's shares surged over 9% on Thursday, adding $218 billion in market value, the second-largest single-day gain in history on Wall Street, fueled by a bumper revenue forecast reinforcing investor confidence in the AI-driven chip demand boom.
Nvidia's blowout forecast adds fresh fuel to AI rally; stock jumps 9%
Nvidia rallied 9% on Thursday as its bumper revenue forecast reinforced investor confidence in the AI-driven boom in chip demand, lifting shares across the semiconductor sector.
Arm shares fall 6% as tepid forecast takes shine off AI optimism
Shares of Arm Holdings fell 6% on Thursday as the chip designer's downbeat annual revenue forecast cooled some of the enthusiasm around the stock following its AI-powered jump in recent months.
Palantir raises 2024 forecast on robust AI demand
Palantir said it conducted 660 boot camps in the first quarter and closed 87 deals worth $1 million or more across the business, with its customer count increasing by 42%. It did not specify how many customers were converted through the boot camp.
Intel shares slump over 12% as AI competition hurts forecast
Intel shares slumped more than 12% on Friday after a downbeat forecast signaled that the boom in AI was diverting enterprise spending away from its traditional data center chips.
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