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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…
Next week’s inflation data could derail a market that appears to be priced for perfection, ahead of the Federal Reserve’s meeting later this month. The November consumer price index set to release Wednesday is expected to show an increase of 0.2% and 2.6% month on month and year over year, respectively, according to FactSet. If…
