Category: Top Story
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Micron unveils $10 billion U.S. research lab focused on memory and AI
Micron Technology (NASDAQ:MU) has announced the creation of Micron Research Labs, a new U.S.-based research institution backed by a planned $10 billion investment over the next decade. Headquartered in Boise, Idaho, the initiative will concentrate on next-generation memory technologies, advanced memory and computing architectures, semiconductor packaging and manufacturing. Micron describes the project as the first…
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Wall Street set for lower open as surging oil prices revive inflation concerns: Dow Jones, S&P, Nasdaq, Futures
U.S. stocks were poised to open lower on Thursday, threatening to reverse part of the previous session’s modest rebound as a sharp rise in crude oil prices renewed concerns about the economic consequences of the continuing conflict in the Middle East. U.S. crude futures surged more than 3% to their highest level in almost a…
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Bernstein upgrades Analog Devices after Q3 beat strengthens growth outlook
Bernstein upgraded Analog Devices (NASDAQ:ADI) to Outperform from Market Perform and raised its price target to $465 from $430 after the semiconductor group delivered stronger-than-expected fiscal third-quarter results and issued an upbeat outlook for the fourth quarter. Analog Devices reported quarterly revenue of $4.022 billion, ahead of Wall Street expectations of $3.922 billion, while earnings…
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CoreWeave signs multi-year AI infrastructure agreement with Hudson River Trading
CoreWeave, Inc. (NASDAQ:CRWV) has entered into a multi-year agreement with quantitative trading firm Hudson River Trading (HRT) to supply cloud computing infrastructure for its artificial intelligence research and model development activities. The partnership will give HRT access to CoreWeave’s specialised AI cloud platform as the trading firm expands its use of machine learning and large-scale…
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Meta emerges as major Microsoft Azure AI customer
Meta Platforms Inc. (NASDAQ:META) has become one of Microsoft Corp.’s (NASDAQ:MSFT) largest customers for artificial intelligence services, according to a Bloomberg News report, highlighting the substantial infrastructure spending required to support the technology sector’s AI expansion. The Facebook and Instagram parent is reportedly spending hundreds of millions of dollars each year to access artificial intelligence…
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Walmart shares slide as slower U.S. comparable sales overshadow earnings beat
Walmart Inc. (NASDAQ:WMT) shares fell around 6% in premarket trading on Thursday after the retail giant reported stronger-than-expected second-quarter earnings and revenue, but disappointed investors with weaker comparable sales growth at its U.S. stores. Adjusted earnings came in at $0.81 per share, beating the analyst consensus of $0.74 by $0.07. Revenue increased 5.9% year on…
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Deere shares rise as fiscal Q3 earnings and revenue beat forecasts
Deere & Co. (NYSE:DE) shares gained more than 3% in premarket trading on Thursday after the agricultural equipment manufacturer delivered fiscal third-quarter results that exceeded Wall Street expectations on both revenue and earnings. The company reported earnings of $5.10 per share, comfortably ahead of the analyst consensus of $4.69. Revenue increased 5% year on year…
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Alibaba shares slip as Q2 profit miss overshadows accelerating AI cloud growth
Alibaba (NYSE:BABA) shares fell around 4% in U.S. premarket trading on Thursday after the Chinese e-commerce and cloud computing group reported second-quarter earnings below market expectations, despite stronger revenue and rapid growth across its artificial intelligence cloud operations. The company posted earnings per share of RMB8.52, falling short of the analyst consensus of RMB10.72. Quarterly…
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Moderna shares slide as investors lock in gains after historic cancer vaccine rally
Moderna (NASDAQ:MRNA) shares fell sharply in premarket trading on Thursday as investors took profits following the biggest one-day rally in the biotechnology company’s history, while concerns over valuation added to the selling pressure. The stock dropped 13.0% to $151.78 before the opening bell, having closed the previous session at $174.38 following an extraordinary surge triggered…
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Stallion Uranium: How Drilling is “Delivering the Goods”
Matt Schwab is a proven mine-finder who now believes that he has another major discovery in his sights. This accomplished geologist has considerable credibility to back up his confidence: he led the exploration team that made the multi-billion-dollar Arrow uranium deposit in 2014 in the remote southwestern portion of Saskatchewan’s famed Athabasca Basin. This allowed…