Intel shares slumped 20% in extended trade after it announced sweeping job cuts and a suspension of its dividend.
Browsing: Nvidia
Nvidia’s huge rally on Wednesday marks a new record one-day gain for any company on Wall Street.
Investors are beginning to question whether Wall Street’s AI rally may have become overextended.
Intel plans to eliminate thousands of jobs to reduce costs and fund an ambitious turnaround effort.
Amazon is developing its own processors to limit its reliance on costly Nvidia chips – the so-called Nvidia tax.
Meta has debuted a new AI model that CEO Mark Zuckerberg said rivals similar offerings from OpenAI and Google.
AMD will acquire Silo AI for $665-million as it tries to enhance its AI chip capabilities against Nvidia.
TSMC’s shares jumped as much as 4.5% in Taipei on Monday, extending its rally this year to more than 75%.
The resistance to the G42-Microsoft deal could hinder US efforts to help American companies grab a global lead in AI.
A US stock rally supercharged by excitement over AI is drawing comparisons with the dot-com bubble two decades ago.