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Cerebras set for debut in stock market gripped by AI mania
Reuters85d agoneutral
Cerebras set for debut in stock market gripped by AI mania

Chipmaker Cerebras is set to make its U.S. market debut later on Thursday, as it looks to ride a wave of investor euphoria for companies that ‌are at the heart of the artificial intelligence boom. The firm's IPO is the largest this year ‌and comes as AI-linked stocks push broader markets to record highs despite challenges to global growth stemming from the Middle East conflict. The ​Sunnyvale, California-based chipmaker, which is a competitor to industry juggernaut Nvidia, raised $5.55 billion in an upsized offering, implying a valuation of $56.43 billion on a fully diluted basis.

Bitcoin Edges Higher But Recovery Limited
Barrons.com85d agoneutral
Bitcoin Edges Higher But Recovery Limited

The price of Bitcoin was rising slightly but stayed below $80,000 after falling to a one-week low in the previous session. Higher-than-expected U.S. inflation data for April on Tuesday reduced the prospect of interest-rate cuts by the Federal Reserve, denting risk appetite and boosting the dollar.

Foxconn Posts Strong Results on AI Hardware Sales
The Wall Street Journal85d agoneutral
Foxconn Posts Strong Results on AI Hardware Sales

Foxconn Technology Group reported robust first-quarter revenue and profit as it ramped up production of server racks, other advanced equipment and consumer devices for the global artificial-intelligence buildout.

Xi Tells US CEOs Accompanying Trump That China Will Open Up More
Bloomberg85d agoneutral
Xi Tells US CEOs Accompanying Trump That China Will Open Up More

(Bloomberg) -- Xi Jinping signaled China is moving toward greater openness, striking an upbeat note during his meeting with US business leaders accompanying Donald Trump as the two presidents wrapped up morning talks that featured more divisive issues like trade and Taiwan.Most Read from BloombergIran’s Kharg Island Oil Jetties Empty Again Yesterday, Satellite ShowsAmbani’s Cola War With Coke, Pepsi Spurs Fridge Bonanza in IndiaNvidia’s CEO Joins Trump in China With AI in the SpotlightTrump Land

Bloomberg85d agoneutral
What to Expect From the Trump-Xi Summit in Beijing

(Bloomberg) -- President Donald Trump became the first US leader in almost a decade to visit China when he landed in Beijing on Wednesday. His much-anticipated two-day summit with President Xi Jinping — delayed from March due to the Iran war — offers the leaders of the world’s two largest economies a chance to reset personal ties and look for common ground on trade, technology and a range of other contentious topics. Most Read from BloombergIran’s Kharg Island Oil Jetties Empty Again Yesterday,

Taiwan's Foxconn reports forecast-beating 19% jump in Q1 profit on AI demand
Reuters85d agobullish
Taiwan's Foxconn reports forecast-beating 19% jump in Q1 profit on AI demand

Net profit for January-March for Nvidia's ​biggest server maker and Apple's top iPhone assembler was T$49.92 billion ($1.58 billion), versus a LSEG consensus estimate of T$48.88 billion. In an earnings release, it stuck to its previous forecast of "strong" growth for revenue this year ‌and said it also ⁠saw strong demand for AI servers. Foxconn, formally called Hon Hai Precision ⁠Industry, in April reported a 30% on-year jump in first-quarter revenue.

AEye Q1 Earnings Call Highlights
MarketBeat86d agoneutral
AEye Q1 Earnings Call Highlights

AEye (NASDAQ:LIDR) reported higher first-quarter revenue and emphasized expanding commercial engagement across defense, transportation, automotive and infrastructure markets, while management said the lidar company remains focused on converting evaluations and proofs of concept into deployments. On

Trump Lands in China for Xi Trade Summit With Iran War in Limbo
Bloomberg86d agoneutral
Trump Lands in China for Xi Trade Summit With Iran War in Limbo

(Bloomberg) -- President Donald Trump arrived in Beijing for the first state visit to China by a US leader in nine years, as the world’s two largest economies look to stabilize ties with a summit playing out against the backdrop of the Iran war.Most Read from BloombergAmbani’s Cola War With Coke, Pepsi Spurs Fridge Bonanza in IndiaNvidia’s CEO Joins Trump in China With AI in the SpotlightMamdani Scraps Property Tax Hike, Counts Second-Home RevenueTrump Lands in China for Xi Trade Summit With Ira

Alibaba Targets Big AI Gains Even as Business Growth Falls Short
Bloomberg86d agoneutral
Alibaba Targets Big AI Gains Even as Business Growth Falls Short

(Bloomberg) -- China’s twin technology leaders reported revenue that fell short of estimates, signaling the challenges in translating higher AI spending into profits. Yet investors piled into Alibaba Group Holding Ltd. after the company declared it’s on track to triple revenue from artificial intelligence services.Most Read from BloombergAmbani’s Cola War With Coke, Pepsi Spurs Fridge Bonanza in IndiaNvidia’s CEO Joins Trump in China With AI in the SpotlightMamdani Scraps Property Tax Hike, Coun