Shares of the Chinese memory-chip company surged in their trading debut, buoying Beijing’s campaign to become a global force in semiconductors that power AI.
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Nio received about 18.24 million CXMT shares, though the stake is subject to an 18-month lockup.
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Shares of CXMT, China's largest memory chipmaker, soared Monday after they began trading in Shanghai in mainland China’s biggest initial public stock offering in recent years. CXMT's shares surged 472% and were trading up 462% by early afternoon. It has become the most valuable company listed on a mainland Chinese exchange, with a market capitalization of about 3.3 trillion yuan (more than $487 billion).
(Bloomberg) -- China’s memory-chip bellwether CXMT Corp. can extend its blockbuster stock market debut to rally 1,239% from its initial public offering price as it wins market share over time, according to Nomura Holdings Inc.Most Read from BloombergDeepSeek Suspends Fundraising After Viral US-China PostsSpaceX at $100 Would Imply Zero AI Value, Morgan Stanley SaysUS, Iran Extend Pause in Strikes as Oman Holds Hormuz TalksTrump Seethes as Iran War Spirals Anew With No End in SightAwakened Indian
Strategy has not bought Bitcoin in four weekly filings. Q2 earnings on July 30 will test whether the pause continues.
(Bloomberg) -- Moonshot AI is poised to make its Kimi K3 model available for public download, expanding its reach and influence in the global open software community at a time of growing US concern about Chinese encroachment into the top echelons of AI development.Most Read from BloombergDeepSeek Suspends Fundraising After Viral US-China PostsSpaceX at $100 Would Imply Zero AI Value, Morgan Stanley SaysUS, Iran Extend Pause in Strikes as Oman Holds Hormuz TalksTrump Seethes as Iran War Spirals A
Iran and Oman are also in talks that center around having Iran run vessel transit through the Strait of Hormuz with fewer restrictions on ships.
Shares of South Korean internet and cloud service giant Naver jumped more than 10% on Monday after it said Nvidia would acquire $1 billion of its new shares to finance a project to expand an AI data centre. The investment comes after the two firms and investment group Brookfield announced on Friday plans to expand Naver's AI data centre in South Korea with up to $10 billion in funding. Naver said on Monday it will place 7.2 million new shares with Nvidia for 204,500 won each, or a 1% discount to its closing price on Friday, as part of the agreement.
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SEOUL, July 25 (Reuters) - South Korea's Samsung Electronics and SK Hynix will pursue memory chip supply partnership with U.S. big tech companies including Nvidia worth $950 billion overall, South
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Paramount on Friday agreed to delay closing its $81 billion buyout of Warner Bros. Discovery well into next year, as a judge continues to consider a challenge from 12 states seeking to block the deal altogether. In a court filing, Paramount said it wouldn’t close the merger until either a court ruling is made on the merits of the states’ lawsuit or June 1, 2027. The move arrives just days after U.S. District Judge Araceli Martínez-Olguín granted a temporary restraining order to freeze the transaction for several weeks, ruling that the states had raised some “serious questions” and a strong case about the merger's potential to “substantially lessen competition.”
Every quarter, Wall Street fixates on whether hyperscalers will blink and cut their AI budgets, and every quarter the order books tell a completely different story. Here is the basic economic principle that keeps one investor hitting buy on NVDA ahead of August earnings.
Investing.com -- Uber Technologies (NYSE: UBER) shares skidded 4% on Friday, with losses accelerating in the final hour of trading following a revealing Financial Times report that Alphabet’s Waymo is eyeing the exit ramp on their alliance. According to the report, the self-driving car company is holding internal discussions about terminating its current agreements with the ride-hailing giant, which presently include joint operations in Austin and Atlanta. The Breakdown Uber has confirmed the fr
After years of decline, the stock rallied by almost 50% in the first half of 2026.
The company late Thursday posted adjusted earnings of 35 cents a share, from 2 cents a year ago and above Wall Street’s 33 cents expectation. Revenue grew 55% to $168.8 million, beating the analyst consensus view of $164.6 million, according to FactSet. The earnings and revenue growth were due to strong momentum in the company’s optical artificial-intelligence date center business, and management expects that demand to continue.
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