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AMD says it will sell $4 billion in AI chips this year; stock drops on in-line forecast
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GameStop shares fall 20% after it files to sell additional stock, says first quarter sales dropped
GameStop said it plans to sell securities and reported preliminary results that showed a drop in first-quarter sales.CNBC - Business -
AMD supplants Nvidia as this analyst’s top chip stock — but he still likes both
AMD’s stock advances as Wolfe Research writes positively of the company’s AI traction.MarketWatch - Business -
Microsoft’s AI PC unveiling could benefit these chip stocks
Some chip companies stand to benefit from the growth of on-device AI features. One of them is chip designer Arm Holdings, according to BofA.MarketWatch - Business -
Fed’s Mester says forecast of 3 rate cuts this year is now probably too many
“I was on the record before saying I was at the median [forecast] which was three,” Loretta Mester said Monday. “The developments I’ve seen in the economy right now, I would not think that that’s still appropriate.”MarketWatch - Business -
$9 billion travel tech firm Navan on track to hit profitability this year and 'not far' from IPO, CEO says
The boss of travel and expense management platform Navan told CNBC he's preparing the company to get its business into shape for an IPO this year.CNBC - Business -
Intel and AMD take a backset as Qualcomm plays starring role in Microsoft’s AI PCs
When Microsoft Corp. unveiled a line of PCs and software this week designed to make the most of the artificial-intelligence revolution, it showcased a main processing chip — but it wasn’t from the software giant’s usual chip partner.MarketWatch - Business -
Siemens to Sell Innomotics to KPS Capital Partners for $3.8 Billion
Siemens agreed to sell its Innomotics large motors business to private-equity firm KPS Capital Partners, the latest move by the German industrial giant to reshuffle its portfolio.The Wall Street Journal - Business -
Palo Alto Networks’ stock falls after earnings as forecast fails to impress
The stock was down about 9% in after-hours action Monday. It lost 28% in the session after the last earnings report.MarketWatch - Business -
Microsoft announces new PCs with AI chips from Qualcomm
Microsoft wants to deliver Windows PCs that can keep up with Apple's MacBooks on artificial intelligence performance and strong battery life.CNBC - Business - Microsoft -
Samsung replaces semiconductor chief as it chases AI chip rivals
Electronics group trails South Korean peer SK Hynix in high-bandwidth memory chips for artificial intelligenceFinancial Times - Business
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Trump campaign starts taking cryptocurrency donations, vows to build a 'crypto army'
The Trump campaign framed its decision to accept crypto donations as a boycott of "socialistic government control" over the U.S. financial markets.CNBC - Business - Donald Trump -
McDonald's franchisee group says $5 value meal can't last without company investment
The $5 value meal will hit menu boards beginning June 25 and will last roughly a month.CNBC - Business -
Here's where rents are rising — and where they're falling
Of the nation's 20 largest cities, Seattle saw the highest year-over-year increase in single-family rents, followed by New York and Boston.CNBC - Business -
One dead, 30 injured as Singapore Airlines flight encounters severe turbulence
One person has died aboard a Singapore Airlines flight which was diverted to Bangkok due to turbulence.CNBC - Business -
Biden to release 1 million barrels of gasoline to reduce prices at the pump ahead of July 4
The Biden administration will release 1 million barrels of gasoline from reserves held in the Northeast to reduce prices ahead of the July 4 holiday.CNBC - Business - Joe Biden