Nvidia, a company at the forefront of generative artificial intelligence, saw its shares surge by 5% to $1,224.40 on Wednesday, reaching a remarkable milestone of a market cap above $3 trillion for the first time. This achievement comes as investors eagerly seek to invest in a company that has been driving the boom in AI
Development
Australia recently announced that it had decided to drop its legal battle against Elon Musk’s company, X, concerning the posting of graphic footage of a church stabbing in Sydney. The controversy surrounding this issue was widely viewed as a test case for the Australian government’s ability to enforce online safety standards on social media platforms.
Financial technology startup Nium recently announced a $50 million fundraising round, with plans to go public within the next 18 months. The round was led by a Southeast Asian sovereign wealth fund and supported by venture capital firms BOND, NewView Capital, and Tribe Capital. Despite the significant amount raised, Nium’s valuation now stands at $1.4
Scorpion Capital’s recent investigative report on Lasertec Corp (TYO:6920) has sent shockwaves through the investing world. The report boldly accuses Lasertec of engaging in fraudulent activities to inflate revenue, margins, and earnings. According to Scorpion Capital, Lasertec’s accounting practices represent one of the largest corporate frauds in Japanese history, with a market cap of $23
The Asian stock market experienced a boost on Wednesday. This was mirrored by a stable performance of the dollar amidst concerns about a potential interest rate cut by the Federal Reserve in September. Despite this positive trend, apprehensions about a slowdown in the U.S. economy limited risk appetite among investors. In Asia, the focus was
The recent report showing a fall in job openings to a three-year low has caused a shift in the U.S. stock market. As of late, the Dow Jones Industrial Average rose by 203 points, reflecting a 0.5% increase, the S&P 500 gained 0.3%, and the NASDAQ Composite added 0.3%. This unexpected decline in job openings
Bath & Body Works recently experienced a significant drop in their stock price, with a 14% decline marking their worst day since 2021. This decline followed the release of first-quarter earnings and revenue that beat estimates, however, the company offered a disappointing outlook for the second quarter. With earnings expected to be lower than anticipated,
Cisco’s ThousandEyes internet monitoring unit recently introduced cutting-edge artificial intelligence-powered capabilities designed to significantly enhance the prediction and diagnosis of internet outages and disruptions. The latest AI technology, known as Digital Experience Assurance (DXA), equips customers utilizing Cisco’s networking technology with the ability to proactively address network quality issues automatically. This marks a significant shift
As global investors continue to monitor economic data around the world, Asian share markets have seen mild weakening. This shift comes as manufacturing activity in the United States, the world’s largest economy, has shown signs of further deterioration. While MSCI’s index of Asia-Pacific shares outside Japan experienced a slight decline of 0.1%, it is important
Moderna and Merck recently shared positive three-year data on their experimental vaccine in combination with Keytruda for patients with the most deadly form of skin cancer. The combination of the vaccine and Keytruda showed significant improvements in survival rates and exhibited long-lasting efficacy in a midstage study presented at the American Society of Clinical Oncology
The pre-market trading session has revealed a significant surge in GameStop’s stock, with a remarkable over 77% increase. This surge comes amid speculation that Keith Gill, famously known as Roaring Kitty, holds a stake in GameStop worth $116 million. On the other hand, AMC Entertainment has also seen a notable rise of about 25% in
The currency market kicked off the week on a cautious note, with the dollar showing a slight decline on Monday. This came after data from the previous week indicated that U.S. inflation had stabilized in April. The market sentiment revolves around the possibility of the Federal Reserve cutting interest rates later in the year, as
Recently, Skydance Media made a revised offer to Paramount Global to purchase a specific number of non-voting Paramount shares at $15 each. This new proposal represents a significant premium of approximately 26% to the closing price on Friday. Following the revised offer from Skydance Media, a special committee of Paramount’s board has agreed to recommend
In a surprising move, Nvidia CEO Jensen Huang unveiled the company’s next generation of artificial intelligence chips, named “Rubin,” just months after the announcement of the “Blackwell” model. The announcement took place ahead of the COMPUTEX tech conference in Taipei, marking a significant advancement in AI chip technology by Nvidia. With the introduction of Rubin,