Category: Latest News
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Goldman Sachs Cuts Global Smartphone Shipment Forecasts for 2026-28
Goldman Sachs has reduced its global smartphone shipment forecasts for 2026 through 2028, citing continued cost pressures and a growing share of premium devices that the bank expects to be less sensitive to price changes. The investment bank lowered its shipment estimates by 1 million units for 2026, 8 million for 2027 and 0.2 million…
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Akamai Shares Rise 21.3% After $11.6 Billion Anthropic Cloud Services Agreement
Akamai Technologies (NASDAQ:AKAM) shares rose 21.3% in premarket trading after the company announced a seven-year cloud services commitment with artificial intelligence company Anthropic valued at $11.6 billion. The agreement is intended to support Anthropic’s CPU computing workloads across Akamai Cloud’s distributed infrastructure. The arrangement also includes provisions under which the relationship could expand by as…
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People Incorporated Shares Rise 6.5% Following Report of Potential MGM Takeover Bid
People Incorporated (NASDAQ:PPLI) shares rose 6.5% in premarket trading following a Wall Street Journal report that MGM Resorts International (NYSE:MGM) is considering a potential takeover bid for the company. According to the report, a possible offer could emerge within days. No transaction has been announced, and the reported discussions do not establish that MGM will…
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ArcelorMittal to Halt Ukraine Plant Operations and Record About $1 Billion Impairment
ArcelorMittal (NYSE:MT) said on Friday it will halt operations at its Kryvyi Rih plant in Ukraine and record a non-cash impairment charge of approximately $1 billion following a series of missile strikes at the site. The steelmaker said four missile strikes over a five-week period resulted in the deaths of five employees and injuries to…
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Tesla Begins High-Volume Semi Production at Nevada Factory, Musk Says
Tesla Inc (NASDAQ:TSLA) has begun “high volume production” of its electric Semi truck at a new factory in Nevada, chief executive Elon Musk said on Thursday, with the company targeting annual production of 50,000 units. Tesla formally inaugurated the facility in Sparks, Nevada, at an event on Thursday evening. Production began at the site in…
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Novo Nordisk Licenses Nanexa Drug-Delivery Technology in Deal Worth Up to €1.17 Billion
Novo Nordisk (NYSE:NVO) has agreed to license drug-delivery technology from Swedish biotechnology company Nanexa in an agreement potentially worth up to €1.165 billion. The exclusive global licensing agreement covers Nanexa’s PharmaShell platform and up to five development programmes targeting obesity, type 2 diabetes and other cardiometabolic conditions. The technology could potentially allow treatments that are…
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Musk Says Colossus 2 Plans to Add Nvidia AI Chips by End of 2026
Elon Musk said SpaceXAI (NASDAQ:SPCX) plans to increase the number of advanced Nvidia (NASDAQ:NVDA) artificial intelligence chips used at its Colossus 2 data centre in Memphis, Tennessee, by the end of 2026. In a post on X early Friday, Musk said the facility has used 110,000 Nvidia GB200 chips and 440,000 GB300 chips. Musk, chief…
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Costco Q4 Revenue Reaches $95.7 Billion as Digital Sales Rise 19.5%
Costco Wholesale Corporation (NASDAQ:COST) reported fiscal fourth-quarter earnings and revenue above analyst estimates, with higher comparable sales and growth in digitally enabled transactions. The warehouse retailer reported earnings per share of $6.75 for the quarter, compared with the consensus estimate of $6.55. Revenue reached $95.7 billion, exceeding the analyst estimate of $94.85 billion. Net sales…
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BMO Sees AI Development Continuing Despite Security Concerns
Artificial intelligence security concerns are substantive, but major AI developers currently show limited signs of slowing the pace of model development, according to a BMO note published Friday. Citing its AI expert, BMO said concerns expressed by industry leaders about AI security reflected the importance of aligning advanced systems with human interests before potential problems…
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Gold Heads for Weekly Decline as Markets Assess Fed Rate Outlook and Dollar Strength
Gold prices moved higher on Friday but remained on course for a weekly decline as investors assessed the US dollar, Treasury yields and expectations for further Federal Reserve interest-rate increases. At 04:59 ET, spot gold was up 0.5% at $4,293.56 an ounce, while gold futures gained 0.7% to $4,329.97 an ounce. The US dollar index,…