Super Micro, Dell shares jump as Elon Musk calls them suppliers to xAI supercomputer project
Shares of Dell Technologies and Super Micro Computer jumped Thursday after Elon Musk revealed that the two hardware makers will provide servers to help his artificial intelligence startup xAI develop a supercomputer. “Dell is assembling half of the racks that are going into the supercomputer that xAI is building,” Musk said in an X post, adding that Super Micro will also be […]
Stocks making the biggest moves premarket: Nvidia, Trump Media, Accenture and more
Check out the companies making headlines before the bell: Accenture — The tech stock jumped 8.6%. While Accenture missed earnings and revenue expectations in its latest quarter, according to FactSet, the information technology company posted more than $900 million in new generative AI bookings. Trump Media & Technology Group — Shares tumbled nearly 12% after the company on Tuesday […]
Fitch pushes back China rate cut expectations to next year as Fed holds interest rates steady
BEIJING — Ratings agency Fitch no longer expects China to cut its policy rate this year, and has pushed back its expectations for a reduction to next year as the U.S. Federal Reserve keeps its interest rates high. Fitch now forecasts China will keep its one-year medium-term lending facility (MLF) unchanged this year at 2.5%, […]
Klarna rival Zilch raises $125 million with aim to triple sales and accelerate path to IPO
LONDON — British fintech firm Zilch said Wednesday it’s raised $125 million in debt financing from German banking giant Deutsche Bank in a deal that will help the company triple sales in the next couple of years and move closer toward an initial public offering. The company, which offers shoppers the ability to purchase items and pay […]
Steve Cohen is set to make a big push into investing in AI
Billionaire investor Steve Cohen’s Point72 plans to launch a separate, artificial intelligence-focused hedge fund to capitalize on the boom, according to a person close to the firm’s plans. The new long/short equity fund, to be launched later this year or early 2025, will be focused on AI and AI-related hardware, the person said. The firm is […]
Stocks making the biggest moves midday: La-Z-Boy, Rocket Lab USA, NextEra Energy and more
Check out the companies making headlines in midday trading. La-Z-Boy – The stock soared more than 19% after the furniture company topped Wall Street expectations for the fiscal fourth quarter. La-Z-Boy reported adjusted earnings of 95 cents per share on revenue of $554 million. This is above earnings estimates of 70 cents per share on revenue […]
How to invest in India, the world’s fastest-growing major economy
India has been dubbed the “perfect” emerging market to invest in, but it can be tricky for those outside the country to gain access. CNBC Pro assesses the case for buying into this booming economy, the risks to consider — and how global investors can get involved. India’s stock market has been making headlines this year, and […]
Stocks making the biggest moves premarket: Adobe, Hasbro, GameStop and more
Check out the companies making headlines before the bell. GameStop — The meme stock dipped 1.1% after Keith Gill, known as “Roaring Kitty,” seemingly increased his ownership in GameStop. He appears to be holding 9.001 million GameStop shares and over $6 million in cash, according to a screenshot he posted to Reddit. Adobe — The software company soared 14.2% after posting better-than-expected earnings […]
More than $1 billion in EV tax credits issued upfront to buyers, Treasury and IRS say
The federal government has issued more than $1 billion in tax credits as an upfront cash incentive to buyers of electric vehicles, the U.S. Treasury Department and Internal Revenue Service said Wednesday. The Inflation Reduction Act created a mechanism whereby tax credits for buyers of new and used EVs — worth up to $7,500 and $4,000, respectively — could […]
Roaring Kitty’s GameStop stake grows to 9 million shares after selling his big options position
Meme stock champion Keith Gill, known as “Roaring Kitty” online, seemed to increase his ownership in GameStop’s common stock and appears to be holding more than 9 million shares. Gill posted a new screenshot of his E-Trade portfolio on Reddit’s Superstonk forum after the bell Thursday, showing that he is now holding 9.001 million GameStop shares and more […]