1 hour ago
Stock prices of EV players Lucid and Rivian fall
Lucid Group shares fell nearly 7% in after-hours trading as the electric car company missed out on profits due to widening losses. Lucid reported revenue of $157 million in its most recent quarter, below LSEG’s (formerly Refinitiv) estimate of $180 million.
Rivian Automotive shares plunged 13% after the company reported steep losses and announced it would cut 10% of its salaried workforce. Rivian expects EV production this year to be far lower than Wall Street expected, hurt by downtime for factory upgrades and a slowdown in EV demand due to high interest rates.
— Yun Lee
1 hour ago
Nvidia’s data center business grows by more than 400%
Nvidia’s high-profile data center business posted revenue of $18.4 billion in the fourth quarter, up 409% from the same period last year.
This segment includes the company’s H100 graphics card, which is widely used to power generative artificial intelligence apps such as OpenAI’s ChatGPT.
Nvidia’s data center division has blossomed, especially over the past three quarters. The company is the current market leader in supplying computer chips used in AI research and products.
— Yun Lee, Jonathan Vanian
