By Nathan Layne HARRISBURG, Pennsylvania (Reuters) -Former President Donald Trump, the Republican frontrunner in the 2024 presidential race, said on Friday he had firmly protected gun rights while in the White House and vowed if re-elected to undo all restrictions enacted by President Joe Biden. Speaking to thousands of supporters at an event organized by…
By Sinéad Carew and Sruthi Shankar (Reuters) -S&P 500 closed above 5,000 for the first time on Friday and Nasdaq briefly traded above 16,000, with boosts from megacaps and chip stocks, including Nvidia as investors bet on artificial intelligence technology and eyed strong earnings data. Nvidia finished up 3.6% and hit a record high after…
By Blake Brittain (Reuters) – Apple plans to settle a lawsuit that accused tech startup Rivos of stealing its trade secrets related to computer-chip technology, according to a joint court filing on Friday in California federal court. The companies told the U.S. District Court for the Northern District of California that they had “signed an…
By Max A. Cherney and Stephen Nellis SAN FRANCISCO (Reuters) -Nvidia is building a new business unit focused on designing bespoke chips for cloud computing firms and others, including advanced artificial intelligence (AI) processors, nine sources familiar with its plans told Reuters. The dominant global designer and supplier of AI chips aims to capture a…
(Reuters) – Shares of Metagenomi Technologies, a genetic medicines company backed by Bayer Healthcare and Moderna, slumped 32% in their Nasdaq debut on Friday. The stock opened for trading at $10.25 compared with the IPO price of $15 per share. The lukewarm debut, which gives Metagenomi a valuation of $384 million, underscores the unpredictability young…
By David Shepardson WASHINGTON (Reuters) -The White House on Friday touted the U.S. government’s plan to spend $11 billion on semiconductor-related research and development and said it was launching the $5 billion National Semiconductor Technology Center. Congress in August 2022 approved the landmark Chips and Science Act. The law provides that $52.7 billion, including $39…
By Manya Saini and Niket Nishant (Reuters) -Embattled New York Community Bancorp faced its third credit-rating cut on Thursday while default worries from exposure to the beleaguered U.S. commercial real estate (CRE) took its toll on lenders in Europe and Asia. Morningstar DBRS on Thursday downgraded NYCB’s credit rating due to “outsized” exposure to CRE,…
By Dawn Chmielewski (Reuters) -In 2017, Epic Games was among a handful of companies selected to participate in Walt Disney’s Accelerator incubator program, where the game company’s founder held ambitions of incorporating the entertainment giant’s well-known characters into his digital playground. Now, Disney is making a much bigger bet that will make this possible. Disney…
By Brijesh Patel and Polina Devitt (Reuters) – Spot palladium prices fell below those of sister metal platinum for the first time since April 2018 on Thursday, as growing demand concerns and bets on stable supply weighed on the metal. By 1303 GMT palladium was down 2.8% at $869.6 per troy ounce, its lowest in…
By Samrhitha A (Reuters) -Arm Holdings shares surged more than 55% on Thursday, on track for their best day since a blockbuster market debut in September, powered by strong forecasts on demand for its technology to design chips for artificial intelligence features. The surge would put the British chip designer’s market value at more than…
