Category: Latest News
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Alibaba Shares Rise as Company Unveils Zhenwu V900 AI Chip and Plans Major Data Centre Expansion
Alibaba Group (NYSE:BABA) unveiled a new artificial intelligence processor on Tuesday, describing it as China’s most powerful AI chip, while outlining plans to expand its data centre capacity to more than 20 gigawatts by 2032. Chief Executive Eddie Wu introduced the Zhenwu V900 accelerator at Alibaba’s annual Apsara Conference in Hangzhou, highlighting the company’s investment…
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Novo Nordisk Considers Acquisitions to Expand Weight-Loss Drug Pipeline as Competition Intensifies
Novo Nordisk (NYSE:NVO) is considering acquisitions to strengthen its weight-loss drug pipeline and expand into related therapeutic areas as competition increases, Chief Executive Mike Doustdar said on Tuesday. Speaking to CNBC’s Squawk Box Europe, Doustdar said the Danish pharmaceutical company was examining opportunities to address gaps in its portfolio, including acquiring medicines that could complement…
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DoorDash Retains Lowest-Cost Delivery Position Despite Fee Increases, Wells Fargo Finds
DoorDash (NYSE:DASH) remained the lowest-cost third-party delivery provider in the third quarter, according to a Wells Fargo pricing survey released on Tuesday, despite recording the largest quarterly fee increase among the platforms compared. The survey found that DoorDash’s total basket costs were approximately 2% below those of Uber (NYSE:UBER) and Instacart, even as its fees…
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Meta Partners With Shopify to Introduce AI-Powered Shopping and Checkout in Muse
Meta Platforms (NASDAQ:META) has announced a partnership with Shopify (NASDAQ:SHOP) to integrate shopping and payment capabilities into its recently launched artificial intelligence agent, Muse. Meta CEO Mark Zuckerberg confirmed the agreement on Monday in a post on X, saying the collaboration would “make shopping and checkout easier in Muse.” The partnership will allow users to…
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Gold Prices Fall as Stronger Dollar and Fed Rate Expectations Weigh on Bullion
Gold prices declined on Tuesday as the US dollar strengthened and investors assessed the possibility of further interest rate increases by the Federal Reserve following last week’s hike. At 04:43 ET (08:43 GMT), spot gold fell 0.5% to $4,320.19 an ounce, while gold futures dropped 0.7% to $4,355.90 an ounce. The dollar’s advance added pressure…
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Oil Prices Rebound as Traders Monitor US-Iran Diplomacy and Saudi Supply Flows
Oil prices rose on Tuesday after four consecutive sessions of losses, as investors assessed the possibility of renewed talks between the United States and Iran alongside developments affecting crude supplies from Saudi Arabia and Libya. At 04:18 ET (08:18 GMT), November Brent crude futures were up 1.3% at $101.59 a barrel, while US West Texas…
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US Stock Futures Steady Ahead of Trump’s UN Address as Alibaba Unveils New AI Chip: Dow Jones, S&P, Nasdaq, Wall Street
US stock futures were little changed on Tuesday following a rally in technology shares during the previous session. Investors were monitoring President Donald Trump’s upcoming address to the United Nations, comments from a Federal Reserve official on interest rates and the launch of a new artificial intelligence chip by Alibaba. At 03:09 ET (07:09 GMT),…
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Sorrento Resources: Undervalued and unlocking scale
Since unpegging from the US dollar in 1971, gold has delivered on its promises as a hedge against inflation and economic uncertainty, not only preserving long-term value but building upon it over the period, rising from US$35 per ounce to its current price of more than US$4,300 per ounce, representing a more than 125x return…
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Nasdaq Closes at Record High as Chip Stocks Surge and Oil Retreats
Wall Street kicked off the week on a firmly positive note Monday, with the technology-heavy Nasdaq Composite powering to a record close as a wave of buying in semiconductor stocks lifted the broader market. Falling oil prices and easing Treasury yields added to the upbeat mood, helping stocks recover from a mostly lower performance the…
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Greenland Mines Applies for Sarfartoq Rare Earth License Expansion to 454 km²
Greenland Mines has applied for an additional 262 km² of exploration territory in West Greenland, potentially more than doubling its Sarfartoq project footprint while advancing its existing ST1 rare earth deposit. Key Investor Takeaways Why GRML Stock Is in Focus Greenland Mines has applied for a new exploration license covering approximately 262 km² immediately east…