Adobe surges as AI optimism fuels annual revenue forecast
June 14, 2024 – 7:14 AM PDT (Reuters) – Adobe (ADBE.O) shares soared 16% on Friday, putting the Photoshop-maker on track for its best day in more than four years, after the company raised its annual revenue forecast as more customers turned to its AI-powered editing tools. Advertisement The forecast allayed investor fears that Adobe, […]
Broadcom soars as demand for AI chips powers forecast raise
June 13, 2024 – 7:14 AM PDT The Broadcom Limited company logo is shown outside one of their office complexes in Irvine, California, U.S., March 4, 2021. REUTERS/Mike Blake/File Photo (Reuters) – Broadcom surged about 15% on Thursday as its upbeat annual forecast highlighted insatiable demand for chips used in powering AI-focused technology, while its […]
AI-powered Apple overtakes Microsoft as world’s most valuable company
June 12, 2024 – 7:39 AM PDT Apple CEO Tim Cook attends the annual developer conference event at the company’s headquarters in Cupertino, California, U.S., June 10, 2024. REUTERS/Carlos Barria/File Photo (Reuters) – Apple once again became the world’s most valuable company on Wednesday, dethroning Microsoft from the top spot, as the iPhone maker pushed […]
US Supreme Court to hear Facebook bid to scuttle shareholder lawsuit
June 10, 2024 – 7:17 AM PDT REUTERS/Dado Ruvic/Illustration WASHINGTON (Reuters) – The U.S. Supreme Court agreed on Monday to hear a bid by Meta’s (META.O) Facebook to scuttle a private securities fraud lawsuit accusing the social media platform of misleading investors in 2017 and 2018 about the misuse of its user data by the […]
GameStop spooks investors with share sale, results ahead of “Roaring Kitty” livestream
June 7, 2024 – 8:00 AM PDT A GameStop store is pictured amid the coronavirus disease (COVID-19) pandemic in the Manhattan borough of New York City, New York, U.S., January 27, 2021. REUTERS/Carlo Allegri (Reuters) – GameStop shares slumped 20% on Friday after the video game retailer announced a share sale to raise up to […]
US regulators to open antitrust inquiries of Microsoft, OpenAI and Nvidia
June 6, 2024 – 8:04 AM PDT (Reuters) – The U.S. Justice Department and the Federal Trade Commission have reached a deal that allows them to proceed with antitrust investigations into the dominant roles that Microsoft (MSFT.O), OpenAI and Nvidia (NVDA.O) play in the artificial intelligence industry, according to a source familiar with the matter. […]
Yellen to warn of ‘significant risks’ from use of AI in finance
June 5, 2024 – 7:55 AM PDT WASHINGTON (Reuters) – U.S. Treasury Secretary Janet Yellen will warn that the use of artificial intelligence in finance could lower transaction costs, but carries “significant risks,” according to excerpts from a speech to be delivered on Thursday. Advertisement In the remarks to a Financial Stability Oversight Council and […]
Massachusetts regulator probes ‘Roaring Kitty’s’ GameStop trades
June 4, 2024 – 8:15 AM PDT Keith Gill, an individual online investor in GameStop, testifies during an entirely virtual hearing of the U.S. House of Representatives Committee on Financial Services entitled “Game Stopped? Who Wins and Loses When Short Sellers, Social Media, and Retail Investors Collide?”, in Washington, U.S., February 18, 2021. House Committee […]
AMD launches new AI chips to take on leader Nvidia
June 3, 2024 – 7:03 AM PDT The logo of semiconductor company Advanced Micro Devices Inc (AMD) is seen on a graphics processing unit (GPU) chip in this illustration picture taken February 17, 2023. REUTERS/Florence Lo/Illustration/File photo TAIPEI (Reuters) – Advanced Micro Devices (AMD.O) unveiled its latest artificial intelligence processors on Monday and detailed its […]
Nvidia set to overtake Apple as world’s second-most valuable company
May 31, 2024 – 7:35 AM PDT (Reuters) – Nvidia (NVDA.O) could soon surpass Apple to become the world’s second-most valuable company, as the kingmaker behind the AI revolution takes on the iPhone maker that has ruled Wall Street for decades. Advertisement The reliance of virtually all artificial intelligence applications such as OpenAI’s ChatGPT on […]