NVIDIA SUPPLIER
South Korean shares hit over 29-month high, Samsung Electronics shines
South Korean financial markets experience a surge, with shares hitting a 29-month high driven by Samsung Electronics' expected profit increase. Auto and financial sectors also see gains due to dividend policy measures. Bank of Korea suggests structural reforms for addressing high living costs. Foreign investors show interest with net share purchases. Market yields decline notably.
Nasdaq ends higher on tech strength; Dow pulls back
Tech stocks like Nvidia led the market surge as investors awaited crucial inflation data. Retailers weighed down the Dow, but the S&P 500 rebounded. FedEx projected profit growth, while Carnival Corp raised its annual forecast. Spirit AeroSystems attracted attention amid acquisition talks with Boeing.
Nvidia, megacaps power strong Nasdaq recovery; Dow pulls back
AI chip firm Nvidia soared 6%, recovering some of the steep losses it had notched in three consecutive declining sessions. At current levels, the stock is still 12% away from last week's record high. The Dow pulled back from a one-month high hit on Monday, while the small-cap Russell 2000 index also lost some steam.
Former OpenAI cofounder launches new AI company
Ilya Sutskever, cofounder of OpenAI, launched Safe Superintelligence Inc (SSI) shortly after leaving OpenAI, joined by Jan Leike who now leads at Anthropic. Sutskever emphasised SSI's singular focus on advancing AI capabilities while prioritizing safety, aiming for rapid and secure scaling.
Nasdaq ends lower as Nvidia drags the tech sector for second day
S&P 500 and Nasdaq closed slightly lower on Friday, impacted by Nvidia's decline. Market volatility was observed due to triple witching, with positive PMI data.
Nvidia boss, top chip CEOs to lay out AI plans at Taiwan expo
The world's biggest heavyweights in chipmaking and artificial intelligence will converge this week for Taiwan's premier tech expo, with Nvidia CEO Jensen Huang expected to get a rockstar reception at his keynote speech on Sunday. That is thanks in large part to Nvidia becoming the undisputed global leader in the specialised chips and hardware needed for cutting-edge AI. A day before his speech at the National Taiwan University, Huang threw the opening pitch before a baseball game in Taipei.
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The business ties that bind the U.S. and China are strong but fraying
Many big U.S. companies depend on China for a substantial part of their income and rely on Chinese suppliers and factories for their products.
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 plans to launch AI chips in 2025: report
Arm Holdings to launch AI chips in 2025, with SoftBank's involvement. TSMC negotiations ongoing. Investors anticipate SoftBank's earnings report for growth investment clues amid a surge in AI computing interest.
Wall Street closes up, another weekly gain ahead of inflation data
Atlanta Fed President Raphael Bostic acknowledged recent clues the economy is slowing, but added the timing of rate cuts remains uncertain.
US stocks gain ahead of Fed officials' remarks; Dow nears 40,000 mark
Indexes were inching closer to record highs following a selloff last month, as a slew of economic data pointed to a cooling US labour market, raising expectations that the Fed will cut borrowing costs more than once this year. A much better-than-expected earnings season has also helped put the benchmark S&P 500 and the tech-heavy Nasdaq Composite on track for their third consecutive week of gains.
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.
Nvidia supplier SK Hynix says HBM chips almost sold out for 2025
Chief executive officer Kwak Noh-Jung said the Nvidia supplier and the world's second-largest memory chipmaker will begin sending samples of the latest version of HBM chips, called 12-layer HBM3E, in May and begin mass producing them in the third-quarter.
China acquired recently banned Nvidia chips in Super Micro, Dell servers, tenders show
Chinese entities obtained advanced Nvidia chips through resellers post U.S. ban expansion. The servers contained Nvidia's most advanced chips and were made by various manufacturers. Potential diversions to China were highlighted.
What are GPUs? Why is India scrambling for them?
Since GPUs are scarce and very expensive, the Indian government has two options: let businesses and industry solve its own GPU problem or spend public money to make GPUs more accessible to startups, research bodies and key industries, just as it has done with the PLI scheme to promote key industries for its Make in India mission.
GPU access: Govt may chip in with Nvidia deal
India plans Nvidia deal for GPUs under AI Mission to offer subsidised units to startups. Global trend shows China, US securing AI infrastructure with Nvidia GPUs. Indian companies seek GPUs for AI competitiveness.
NPCI’s nudge to new UPI players; govt’s Nvidia deal
Happy Wednesday! The National Payments Corporation of India (NPCI) is pushing new payments apps on UPI to drive more incentives to consumers to help increase their market share. This and more in today’s ETtech Morning Dispatch.
Marvell wins new AI chip business, but at lower margins
Marvell said it expects the AI chip business to hit $2.5 billion in sales by its fiscal 2026. Marvell helps customers such as Amazon.com design custom chips for their cloud units and competes against rivals such as Alphabet supplier Broadcomm, which has said it expects $10 billion in AI chip sales this year.
Meta debuts new generation of AI chip
Meta planned to deploy a new version of a custom data center chip to address the swelling amount of computing power necessary to run AI products in Facebook, Instagram and WhatsApp.
Mukesh Ambani's RIL in spotlight as world's biggest fund managers hunt for AI winners beyond the US
Major investment firms worldwide are seeking the next generation of artificial intelligence (AI) leaders beyond the borders of the United States. Despite the significant rise in the valuation of Nvidia Corp. and a notable increase in a key American semiconductor index, propelled by global enthusiasm for AI, investors are now turning their attention to emerging markets for greater value and a wider array of investment opportunities. Reliance Industries Ltd., led by billionaire Mukesh Ambani, stands out among these emerging players
Nvidia supplier SK Hynix to invest $3.87 billion in US chip packaging plant
The new plant will include an advanced chip production line to mass-produce next-generation high bandwidth memory (HBM) chips, currently used in graphic processing units that train artificial intelligence systems, the Nvidia supplier said in a statement.
AI titan Nvidia ramps up collaboration with Chinese auto giants
Nvidia on Monday announced a major expansion of its collaboration with world-leading BYD and other Chinese electric car makers, including on the development of autonomous AI-boosted vehicles. Nvidia said other major Chinese EV firms, including XPeng, Li Auto, ZEEKR and GAC Aion have also adopted the Thor platform, which was first announced in 2022.
Nvidia offers developers a peek at new AI chip next week
Nvidia's market capitalisation topped $2 trillion in late February, and it is now a "mere" $400 billion away from eclipsing Apple as Wall Street's second-most valuable company, behind stock market leader Microsoft.
Wall Street hunts for more AI gold after Nvidia's soaring rally
Shares of Nvidia - whose chips are the gold standard in the AI industry - are up about 60% this year after tripling in 2023. The run has pushed its market value to roughly $2 trillion, making it the third-largest U.S. company by market cap after Microsoft and Apple.
Micron starts mass production of memory chips for use in Nvidia's AI semiconductors
Micron Technology has started mass production of its high-bandwidth memory (HBM) semiconductors for use in Nvidia's latest chip for artificial intelligence, sending its shares up more than 5% on Monday.
Nvidia shares surge 15%, set off rally on Wall Street
Nvidia's earnings were a major test for the AI-fueled rally on Wall Street that first pushed the S&P 500 above the 5,000 point mark earlier this month. Some analysts had cautioned that disappointing results could spark a steep selloff among technology stocks.
Nvidia nears $2 trillion mark as AI mania rekindles Wall St tech rally
Nvidia's market value surpasses $2 trillion as AI chip demand skyrockets. It leads S&P 500, plays a vital role in the tech revolution. Shares surge, adding over $230 billion to market cap. China imposes chip sales restrictions. Analysts' earnings estimates increase.
Nvidia stock surges after results, lifts other AI shares
Nvidia added over $129 billion in stock market value late on Wednesday after the chipmaker's hotly anticipated quarterly report beat estimates and sparked gains in other AI hardware stocks.
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