(Reuters) – Hewlett Packard Enterprise Co missed Wall Street estimates for second-quarter revenue on Tuesday, as clients scale down spending on tech, including cloud services, amid an economic slowdown. Shares of the Texas-based IT company fell 4% after the bell. The stock has declined nearly 3% so far this year. For some of the largest…
By Carolina Mandl NEW YORK (Reuters) – Nvidia Corp’s debut in the club of U.S. companies valued at $1 trillion on Tuesday may have given a boost to a number of portfolio managers who bought in to the stock, according to data revealed in first-quarter hedge fund filings, such as Australia listed boutique investment firm…
By Supantha Mukherjee and Martin Coulter STOCKHOLM/LONDON (Reuters) – Top artificial intelligence (AI) executives including OpenAI CEO Sam Altman on Tuesday joined experts and professors in raising the “risk of extinction from AI”, which they urged policymakers to equate at par with risks posed by pandemics and nuclear war. “Mitigating the risk of extinction from…
By Caroline Valetkevitch NEW YORK (Reuters) – Short sellers in shares of Nvidia Corp were down $4.1 billion in mark-to-market losses in three trading days, according to financial data firm S3 Partners, as the chipmaker’s market capitalization hit $1 trillion on Tuesday. Nvidia’s shares were up about 31% combined over Thursday, Friday and trading so…
By Sam Tobin and Paul Sandle LONDON (Reuters) – Microsoft on Tuesday accused Britain’s anti-trust regulator of being a global “outlier” in blocking its $69 billion takeover of “Call of Duty” maker Activision Blizzard. The Competition and Markets Authority (CMA) vetoed the deal in April, saying it could hurt competition in the nascent cloud gaming…
(Reuters) – Nvidia Corp on Tuesday became the first chipmaker to join Wall Street’s trillion-dollar club dominated by technology heavyweights such as Apple Inc and Microsoft Corp. The boom in artificial intelligence (AI) technology has driven a threefold surge in Nvidia’s stock valuation in less then eight months, helping the chipmaker hit the trillion-dollar mark…
By Paul Lienert DETROIT (Reuters) -Michigan-based Shyft Group, a multi-brand manufacturer of medium-duty specialty vehicles, is preparing to launch production this fall of a new line of electric trucks and vans under the Blue Arc brand. “That’s our wheelhouse – it’s a segment we know and understand,” Chief Executive Daryl Adams said in an interview….
By David Shepardson WASHINGTON (Reuters) -More than 8.3 million U.S. homes and businesses lack access to high-speed broadband internet, the Federal Communications Commission said Tuesday in unveiling its revised national broadband access map. The FCC said it has increased its estimates of homes and businesses without access by nearly 330,000 locations. The data is crucial…
BILLY-BERCLAU, France (Reuters) – France will inaugurate on Tuesday a battery-making gigafactory, the first of four such plants European and Asian companies plan to build in the north of the country. The development by Automotive Cells Company, a joint-venture between Stellantis, Mercedes and TotalEnergies, involves total investment of 2 billion euros ($2.20 billion) – with…
(Reuters) – Nvidia Corp soared to a trillion-dollar market value on Tuesday as shares continued to surge after a bumper earnings report that forced Wall Street to reassess the potential windfall for the chipmaker from an artificial intelligence boom. Here’s an explainer on Nvidia and its role in AI boom. HOW BIG IS NVIDIA IN…
