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The trillion-dollar investment cycle into generative artificial intelligence is only just beginning, and is already starting to pay off, according to John Belton, portfolio manager at Gabelli Funds. Tech companies are set to invest roughly $1 trillion in capital expenditures into AI infrastructure over the coming years, causing some investors to worry the businesses may…
A sign is posted in front of a Broadcom office in San Jose, California, on Dec. 12, 2024. Justin Sullivan | Getty Images Broadcom reported second-quarter earnings on Thursday that beat Wall Street expectations, and the chipmaker provided robust guidance for the current period. Here’s how the chipmaker did versus LSEG consensus estimates: Earnings per share:…
HANGZHOU, CHINA – JUNE 3, 2024 – The NVIDIA logo and the Apple logo are pictured in Hangzhou city, Zhejiang province, China, June 6, 2024. On June 5, Eastern time, Nvidia’s stock market value exceeded $3 trillion, officially surpassing Apple’s market value and becoming the world’s second largest technology giant by market value. It is…
Nvidia CEO Jensen Huang delivers the keynote for the Nvidia GPU Technology Conference (GTC) at the SAP Center in San Jose, California, U.S. March 18, 2025. Brittany Hosea-Small | Reuters Technology stocks were on pace for a winning week Friday on the heels of a volatile stretch spurred by ongoing tariff uncertainty and economic fears….
CEO of Apple Tim Cook speaks at an event in 2022. Jerod Harris | Getty Images Entertainment | Getty Images Technology stocks surged, with Apple and Nvidia rallying more than 10% after Trump announced a 90-day pause on tariffs for some countries. Stocks skyrocketed across the board following a multi-day selloff spurred by an aggressive…
Intel shares rallied 13% on Tuesday following a Wall Street Journal report that both Broadcom and Taiwan Semiconductor Manufacturing are potentially weighing bids that could result in splitting the embattled chipmaker. The stock was on pace for its best day since March 2020. The Wall Street Journal reported that Broadcom may consider a play for…
Nvidia and other U.S. technology firms plunged on Monday, part of a global sell-off as Chinese startup DeepSeek sparked concerns over competitiveness in artificial intelligence and America’s leadership in the sector. Nvidia, the chip designer who has been a major beneficiary of the AI hype, slid around 11%. With that, the megacap tech stock was…
Every weekday, the CNBC Investing Club with Jim Cramer releases the Homestretch — an actionable afternoon update, just in time for the last hour of trading on Wall Street. Markets: Wall Street surged Wednesday thanks to the second encouraging inflation report this week and a batch of strong bank earnings. The consumer price index, excluding…
President Donald Trump introduces Broadcom CEO Hock Tan prior to Tan announcing the repatriation of his company’s headquarters to the United States from Singapore during a ceremony in the Oval Office of the White House, in Washington, DC, November 2, 2017. Getty Images When Broadcom tried to buy rival Qualcomm for $120 billion in 2018,…
Broadcom CEO Hock Tan. Lucas Jackson | Reuters Broadcom reported better-than-expected fourth-quarter earnings on Thursday and said artificial intelligence revenue for the year more than tripled. The chipmaker’s stock jumped after Broadcom CEO Hock Tan said the company is developing custom AI chips with three large cloud customers. The shares were up 13% in extended…
