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Xpeng boss to head robot unit with humanoid mass production imminent
Reuters74d agoneutral
Xpeng boss to head robot unit with humanoid mass production imminent

The chief executive of Xpeng said on Wednesday he would personally lead the company’s robotics business, ‌as the Chinese electric vehicle maker — emerging as a ‌frontrunner in humanoid robotics among automakers — pushes toward mass production by year-end. "The (robot) industry is ​becoming increasingly hot and competitive, and we have clearly seen the direction and timing of victory, but it still requires more arduous implementation and extremely high decision-making ability," Xpeng CEO He Xiaopeng said in an internal ‌letter reviewed by Reuters. He ⁠said the decision to take on the role of "CEO" of the robotics unit, effective immediately, comes "on the eve ⁠of mass production and commercialisation" of Xpeng's humanlike IRON robots, which debuted last year.

Bloomberg74d agoneutral
TSMC’s Monthly Sales Rise 30% Thanks to Sustained AI Chip Demand

(Bloomberg) -- Taiwan Semiconductor Manufacturing Co. reported a 30% rise in its monthly sales, reflecting continued strength in demand spurred by a global rush to build AI infrastructure. Most Read from BloombergHouse Republican Says Hegseth’s D-Day Remarks ‘Inappropriate’US Strikes Iran After Helicopter Downed, Testing Peace TalksUS Launches Strikes Against Iran After Helicopter Shot DownStocks Pare Tech-Led Drop as Rotation Gains Speed: Markets WrapSurface Naval Drone Rescued Downed US Apache

Oracle Is Reshaping Its Earnings. The Cloud Is How.
Barrons.com74d agoneutral
Oracle Is Reshaping Its Earnings. The Cloud Is How.

Oracle reports fourth-quarter earnings on Wednesday afternoon as it continues to disrupt its own legacy software business with cloud software and services. Wall Street analysts are expecting the company to report $1.96 in adjusted earnings per share, up from $1.70 the year before. With sales of its mature business software stalled, in 2019 Oracle began running the Microsoft cloud-pivot playbook.

SoftBank Attempt to Get $6 Billion OpenAI Margin Loan Stalls
Bloomberg74d agoneutral
SoftBank Attempt to Get $6 Billion OpenAI Margin Loan Stalls

(Bloomberg) -- SoftBank Group Corp.’s talks with potential creditors to raise at least $6 billion from a margin loan backed by its OpenAI stake have stalled, people familiar with the matter said, just weeks after the Japanese conglomerate cut its initial target from $10 billion.Most Read from BloombergHouse Republican Says Hegseth’s D-Day Remarks ‘Inappropriate’US Launches Strikes Against Iran After Helicopter Shot DownUS Strikes Iran After Helicopter Downed, Testing Peace TalksStocks Pare Tech-

Broadcom CEO unnerves biggest AI backers in rattling pivot
TheStreet74d agoneutral
Broadcom CEO unnerves biggest AI backers in rattling pivot

Broadcom (AVGO) just posted the kind of quarter most chipmakers can only dream about. Record revenue, AI sales up triple digits, and a growing roster of marquee customers. Then the stock fell. Shares of Broadcom dropped 12.59% on June 4 to close at $418.91, the steepest one-day fall in over a year. ...

SpaceX IPO nearly four times oversubscribed: sources
Reuters Videos74d agoneutralVIDEO
SpaceX IPO nearly four times oversubscribed: sources

<body><p>STORY: SpaceX is drawing strong investor demand ahead of what could be the largest IPO on record.</p><p>Sources have told Reuters the company has already attracted more than $250 billion in interest—over three times the roughly $75 billion it plans to raise.</p><p>Trading in the stock is set to begin Friday (June 12) on the Nasdaq, with a target price of $135 per share.&nbsp;</p><p>The high demand underscores strong appetite for the offering, even as global markets remain volatile.</p><p>Investor interest is being driven in part by SpaceX’s growth outlook, including its Starlink satellite internet business and its artificial intelligence offerings.&nbsp;</p><p>It also has plans for data centers in space.&nbsp;</p><p>Elon Musk's firm claims in its IPO documents that it is "the only company with a commercially viable path to building orbital AI compute at scale."</p><p>Sources say the company has outlined plans to begin testing space-based AI computing systems by late 2027.</p><p>SpaceX says the approach could help address constraints on Earth, such as power and infrastructure, by moving data-center capacity into orbit.</p><p>The initiative depends on its giant Starship rocket being able to reduce launch costs, though it has faced repeated development delays.&nbsp;</p><p>:: Archive</p><p>SpaceX is targeting a valuation of around $1.75 trillion in this week's offering.</p></body>

Elon Musk's SpaceX is coming for your 401(k)
TheStreet74d agoneutral
Elon Musk's SpaceX is coming for your 401(k)

SpaceX is preparing for one of the most anticipated public market debuts in history. Elon Musk's aerospace and satellite company is expected to begin trading on the Nasdaq on June 12 with a valuation near $1.75 trillion. The offering could raise as much as $86 billion, potentially making it the ...

Meta deepens partnership with Ambani's Reliance with AI data centre
Reuters74d agobullish
Meta deepens partnership with Ambani's Reliance with AI data centre

Meta Platforms will lease an AI-ready data centre to be built by billionaire Mukesh Ambani's Reliance Industries, ‌the U.S. tech major said on Wednesday, deepening ties with the Indian ‌conglomerate. The deal comes at a time when India has seen a surge in hyperscale data centre ​builds led by U.S. cloud majors such as Amazon, Microsoft and Alphabet's Google, as New Delhi seeks to draw in investment in AI. In February, Reliance committed about $110 billion and Adani outlined $100 billion in investments to position India as an AI ‌hub.

OpenAI weighs leasing Ohio data center with Nvidia backing, The Information reports
Reuters74d agoneutral
OpenAI weighs leasing Ohio data center with Nvidia backing, The Information reports

OpenAI is ‌in negotiations ‌to lease a ​proposed 10-gigawatt data center campus on federal ‌land ⁠in Ohio, in a ⁠deal that could include ​financial ​backing ​from Nvidia, ‌The Information reported on Tuesday, citing two people with ‌direct ​knowledge ​of ​the discussions. Reuters ‌could not immediately ​verify ​the report.

SMH ETF Investors: Watch Hyperscaler Capex Guidance at July Earnings Calls
24/7 Wall St.74d agoneutral
SMH ETF Investors: Watch Hyperscaler Capex Guidance at July Earnings Calls

The VanEck Semiconductor ETF (NYSEARCA:SMH) closed Friday at $599, capping a stretch in which SMH has returned roughly 146% over the past year and tacked on nearly 20% in May alone. SMH is up about 66% year to date, and the rally has been driven less by NVIDIA than most holders assume. Because the fund ... SMH ETF Investors: Watch Hyperscaler Capex Guidance at July Earnings Calls

Dollar Tree has an advantage Costco can't match
TheStreet74d agoneutral
Dollar Tree has an advantage Costco can't match

When money is tight for consumers across the board, retailers like Dollar Tree and Costco tend to win out. A good 66% of Americans have reduced their overall spending due to rising prices, according to the Conference Board's May Consumer Confidence Index. April's Consumer Price Index, ...

Elon Musk, after DOGE and politics, bets on SpaceX IPO
AFP74d agoneutral
Elon Musk, after DOGE and politics, bets on SpaceX IPO

Elon Musk has become the most powerful, prolific and bewildering human on earth and is about to become the world's first trillionaire if his latest brainchild -- the IPO of his rocket and AI company SpaceX -- goes as planned.Without Musk, OpenAI would go on to become the dominant AI giant, and this year he lost a blockbuster lawsuit against the company and its CEO Sam Altman over Musk's claims that it had reneged on its original mission of being a non-profit working for AI to benefit humanity.

Best Buy bets big on controversial partner
TheStreet74d agobullish
Best Buy bets big on controversial partner

It wasn’t all that long ago that smart glasses and VR headsets felt like something straight out of an episode of an episode “The Jetsons” or a science fiction novel, not something you could find on store shelves. Now, not only can you buy these wearable computers, but you can actually try them on ...

OpenAI announces plan to go public, SpaceX set to launch IPO this week
CBS News Videos74d agoneutralVIDEO
OpenAI announces plan to go public, SpaceX set to launch IPO this week

Last week, Anthropic, valued at almost a trillion dollars, filed to go public. Yesterday, its chief rival OpenAI confidentially filed for an initial public offering. Later this week, SpaceX is set to go public in what could be the largest IPO ever. Jon Krohn, the co-founder and CEO of Y Carrot, joins CBS News to discuss.

HSBC doubles down on stock market message for 2026
TheStreet74d agoneutral
HSBC doubles down on stock market message for 2026

The week of June 8 handed global markets a sharp reminder of how quickly sentiment can shift. Goldman Sachs removed its 2026 Fed rate cut calls. The Nasdaq fell 5% on the May jobs report. Investors who had been positioned for easing scrambled to recalibrate. The wall of worry that has defined ...

Arqit Quantum Inc. (ARQQ) Reports Q1 Fiscal 2026 Results
Insider Monkey74d agoneutral
Arqit Quantum Inc. (ARQQ) Reports Q1 Fiscal 2026 Results

Arqit Quantum Inc. (NASDAQ:ARQQ) is one of the Best Quantum Computing Stocks. On May 21, 2026, Arqit Quantum Inc. (NASDAQ:ARQQ) reported Q1 fiscal 2026 revenue of $623,000, up sharply from $67,000 a year earlier and $463,000 in the prior half. It also reported eleven contracts as compared to seven in the entire year of 2025. […]