Nvidia Races Towards $1tn Club As Ai Frenzy Drives Chip Stocks Higher
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AMD says it will sell $4 billion in AI chips this year; stock drops on in-line forecast
AMD sells AI chips that compete with Nvidia, but it makes most of its money from PC chips.CNBC - Business -
Big Tech caught up in AI frenzy
Also in this newsletter: Houthis expand attacks, England and Wales go to the polls, warning on global povertyFinancial Times - World -
Nvidia is chip sector’s only hope after AMD and Super Micro disappoint
Investors better hope that Nvidia Corp. exceeds Wall Street’s current expectations, after Tuesday’s disappointments by two other favored AI-related companies, Advanced Micro Devices and Super Micro Computer.MarketWatch - Business -
Nvidia launches tech update for ChatRTX AI chat
A new update for Nvidia ChatRTX is available for download today.VentureBeat - Tech - Artificial Intelligence -
Grumbling Greek cabbies drive towards tax-compliant future
Taxi drivers now obliged to join other professions in accepting card paymentsFinancial Times - World -
Pinterest Stock Jumps on Higher Revenue, Narrower Loss
Pinterest shares jumped after the social-media platform reported higher quarterly revenue and a narrower loss.The Wall Street Journal - World -
Stocks Turn Higher After Powell Comments
Stocks were turning higher following the Federal Reserve’s widely expected decision to keep rates steady.The Wall Street Journal - World -
AMD boosts its outlook for AI revenue, but stock still falls
AMD lifted its outlook for its MI300 AI accelerator product, which is now expected to drive upwards of $4 billion in revenue this year.MarketWatch - Business -
Amazon Gets More Fuel for AI Race
Capital spending under CEO Andy Jassy will go up “meaningfully,” but record operating margins driven by retail, cloud and advertising will ease the pain.The Wall Street Journal - World - Amazon -
Sam's Club now using AI to check receipts at more than 120 stores. Here's how it works
Sam's Club is now using artificial intelligence and a new camera system to scan customers' receipts at the door, instead of having employees check them.The Hill - Politics -
Garmin’s stock soars toward best day in four years as fitness-tracker sales boom
Garmin Ltd.’s stock soared12% Wednesday to put it on track for its biggest one-day gain in more than four years, after the maker of navigation devices and fitness trackers swept past earnings estimates for the first quarter.MarketWatch - Business -
Reasons why the AI stock correction may be overdone
Recent sharp moves highlight the hypersensitivity of the sector to relatively benign cyclical movesFinancial Times - Business -
Trump could drive inflation higher with his second-term economic agenda, analysts say
Donald Trump has blamed President Joe Biden for stubbornly high inflation during Biden's presidency.CNBC - Business - Donald Trump -
A Yeast-Like Bacteria Can Cut Carbon Emissions While Creating Sustainable Aviation Fuel and Sneakers
LanzaTech’s technology can cut steel plants’ CO2 output by a third while also creating ethanol for environmentally friendly plastics and fuel.The Wall Street Journal - World -
The Last Stock Photographers Await Their Fate Under Generative AI
They survived the disruptive advent of digital cameras and online sales. Now stock photographers are bracing themselves for the next great tech shock: generative AI.The Wall Street Journal - World -
Samsung's Net Profit Quadruples as Chip Business Rebounds
The South Korean tech giant’s flagship semiconductor business swung to profit on higher memory-chip prices amid the artificial-intelligence boom.The Wall Street Journal - Tech -
Manchester United’s interim CEO and chief financial officer to leave club
Patrick Stewart and Cliff Baty will leave at end of seasonJean-Claude Blanc will be interim CEO until 13 JulyManchester United have announced that their interim chief executive, Patrick Stewart, and chief financial officer, Cliff Baty, will leave ...The Guardian - World -
Man Utd executives to depart as Ratcliffe puts his stamp on club
Patrick Stewart and Cliff Baty leaving ‘by mutual consent’ prior to arrival of Omar Berrada from rivals Manchester CityFinancial Times - Business -
Nvidia-backed GPU cloud provider CoreWeave surges to $19 billion valuation
CoreWeave intends to set up more of its clouds full of graphics processing units in more places around the world as it goes up against Amazon and Google.CNBC - Business -
UNRWA chief: Gaza supplies better but not enough to reverse trend towards famine
Yahoo News - World -
Senate advances House-passed foreign aid package toward final passage
Politico - Politics -
CNN's Dana Bash: Rhetoric toward Jewish students on college campuses 'unacceptable'
CNN anchor Dana Bash opened her "Inside Politics" program Wednesday by blasting demonstrations by pro-Palestinian protesters on college campuses across American universities and colleges in recent weeks. "We start with destruction, violence and ...The Hill - Politics -
Metals Fall Ahead of Fed Policy Decision
Metal prices traded lower, with gold falling back below $2,300, as traders further temper expectations on the timing of U.S. interest-rate cuts this year.The Wall Street Journal - World - Federal Reserve -
Pinterest Records Higher Revenue, Narrower Loss
The social-media platform surpassed half a billion monthly active users and reporting 23% revenue growth, its fastest user and revenue growth since 2021. Shares rose 16% premarket.The Wall Street Journal - World -
Fed chair Powell signals that rates will remain higher for longer
US central bank says there has been a ‘lack of further progress’ towards 2% inflation goalFinancial Times - Business - Federal Reserve