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Meta to build C$13 billion Alberta data center, its first in Canada
Reuters38d agoneutral
Meta to build C$13 billion Alberta data center, its first in Canada

Tech giant Meta announced Wednesday it will build a massive data center in central Alberta, the company's first in Canada, as it rapidly ‌builds out computing capacity to support the global AI boom. The 1-gigawatt data center will ‌be located in Sturgeon County and represents a total investment of C$13 billion, or $9.17 billion, Meta said. Meta has doubled down on ​AI, pledging hundreds of billions of dollars to build large AI data centers in the U.S. The Alberta announcement represents the company's 33rd data center globally.

Bloomberg39d agoneutral
Nvidia’s $1 Trillion Slide Sends Valuation to Pre-AI Boom Levels

(Bloomberg) -- After losing roughly $1 trillion in market value in less than two months, Nvidia Corp.’s stock is the cheapest it’s been since before the AI boom kicked off and sent the shares into the stratosphere.Most Read from BloombergGreece Offers Bounty to Catch Ravenous Fish Lured by Warming SeaChip Stocks Sink After Blistering Run as Oil Jumps: Markets WrapUS Strikes Iran and Blocks Oil Sales in New Test of TruceTwo Millennium Trading Pods Made About $3.7 Billion Last MonthChina Sentences

EU court rejects Apple's challenge against EU rules reining in Big Tech
Reuters39d agoneutral
EU court rejects Apple's challenge against EU rules reining in Big Tech

Europe's second-highest court on Wednesday dismissed Apple's challenge against landmark ‌EU rules labelling its app stores and ‌operating system iOS as gatekeepers subject to strict obligations. "The General ​Court dismisses Apple's actions regarding its designation as a gatekeeper in relation to the App Store and iOS," the Luxembourg-based tribunal said. It also said ‌that Apple's actions ⁠regarding the iMessage service are inadmissible.

Amazon's $25 Billion Bond Sale Weighs On Hyperscaler Bonds
The Wall Street Journal39d agoneutral
Amazon's $25 Billion Bond Sale Weighs On Hyperscaler Bonds

The flood of new bonds to fund the artificial-intelligence build-out seems to finally be getting a little bit much for investors. The extra yield, or spread, investors demand to hold bonds backed by AI hyperscalers moved broadly higher on Tuesday as Amazon issued $25 billion of bonds, returning to the U.S. debt market just four months after it completed a $37 billion bond sale. The spread on Amazon’s 5.8% notes due in 2036 jumped to 0.7 percentage point from 0.63 percentage point on Monday, according to MarketAxess.

CoreWeave stock sinks as mag 7 move rattles investors
TheStreet39d agoneutral
CoreWeave stock sinks as mag 7 move rattles investors

Shares of CoreWeave took a hard hit after news broke that Meta Platforms is building a cloud business to sell spare AI computing power. The tech stock fell sharply over two trading sessions last week, and is currently valued at a market cap of $64.4 billion. Notably, Meta (META) is one of ...

Eli Lilly price target boost, Vertex-Crinetics deal, Meta's new social media lawsuit
Yahoo Finance Video39d agobearishVIDEO
Eli Lilly price target boost, Vertex-Crinetics deal, Meta's new social media lawsuit

Market Domination Host Josh Lipton tracks several of the day's top trending stock tickers, including JPMorgan analysts raising their price target on Eli Lilly (LLY) stock, Vertex Pharmaceuticals' (VRTX) acquisition of Crinetics (CRNX), and the possible $1.4 trillion lawsuit that multiple states are now suing Meta Platforms (META) for.

Bloomberg39d agoneutral
Meta Debuts New AI Image-Generation Model Inside Chatbot, Instagram

(Bloomberg) -- Meta Platforms Inc. debuted a new image-generation artificial intelligence model, its first such release since the company spent billions to rebuild its AI lab under Chief AI Officer Alexandr Wang a year ago.Most Read from BloombergGreece Offers Bounty to Catch Ravenous Fish Lured by Warming SeaChip Stocks Slide on Worries Rally Has Run Too Far: Markets WrapTwo Millennium Trading Pods Made About $3.7 Billion Last MonthMicrosoft’s Xbox to Cut 3,200 Jobs, Divest Five Studios in Majo

Bloomberg39d agoneutral
Traders Are Dumping Tech Bonds to Make Room for Amazon Debt Deal

(Bloomberg) -- Amazon.com Inc.’s massive bond sale dragged down outstanding hyperscaler debt on Tuesday as investors sold existing securities to fund the new issue, signaling growing fatigue over the barrage of artificial intelligence financings.Most Read from BloombergGreece Offers Bounty to Catch Ravenous Fish Lured by Warming SeaChip Stocks Slide on Worries Rally Has Run Too Far: Markets WrapTwo Millennium Trading Pods Made About $3.7 Billion Last MonthMicrosoft’s Xbox to Cut 3,200 Jobs, Dive

Bloomberg40d agobearish
Behind Xbox’s Big Layoffs, a Streaming Strategy That Failed

(Bloomberg) -- Microsoft Corp.’s Xbox spent nearly $80 billion in the last decade on deals that would give it popular video game titles like Call of Duty and Skyrim, betting that gamers would flock to its Netflix-like subscription service offering hundreds of options for endless play.Most Read from BloombergGreece Offers Bounty to Catch Ravenous Fish Lured by Warming SeaTwo Millennium Trading Pods Made About $3.7 Billion Last MonthNasdaq 100 Falls 2% in Chip-Led Rout as Oil Climbs: Markets WrapM

Amazon to Issue at Least $25 Billion of New Bonds
The Wall Street Journal40d agoneutral
Amazon to Issue at Least $25 Billion of New Bonds

Another day, another massive bond sale from a company borrowing heavily to invest in artificial-intelligence infrastructure. Amazon is expected to issue at least $25 billion of new U.S.-dollar bonds today, just four months after it issued $37 billion of bonds in the U.

Amazon aims to raise $25 billion from bond sale, Bloomberg News reports
Reuters40d agoneutral
Amazon aims to raise $25 billion from bond sale, Bloomberg News reports

Amazon.com is looking to raise at least $25 billion through a U.S. dollar bond sale, Bloomberg ‌News reported on Tuesday, in the company's latest push ‌to fund its hefty AI investments. Tech companies have been tapping debt markets and ​launching equity sales to fund their costly AI infrastructure build-out. Big Tech, including Amazon, Alphabet, Microsoft and Meta, are expected to spend more than $700 billion on AI this year.

Bloomberg40d agoneutral
Mag 7 Loses Market Swagger as AI Trade Spreads Beyond Behemoths

(Bloomberg) -- For years, the Magnificent Seven tech giants commanded investors’ attention, dominating the S&P 500 Index and determining which way the overall stock market was headed. Those days are over.Most Read from BloombergGreece Offers Bounty to Catch Ravenous Fish Lured by Warming SeaMicrosoft’s Xbox to Cut 3,200 Jobs, Divest Five Studios in Major OverhaulTwo Millennium Trading Pods Made About $3.7 Billion Last MonthSaudis Slash Main Oil Price to Rare Discount as Market DivesChina Sentenc

The S&P 500 Looks Pricey at 22x Earnings. On Cash Flow, It’s a Terrifying 32x.
24/7 Wall St.40d agoneutral
The S&P 500 Looks Pricey at 22x Earnings. On Cash Flow, It’s a Terrifying 32x.

On a recent episode of Barron’s Streetwise, host Jack Hough answered a listener named William who was nervous about how much money he had made in AI-adjacent names like Dell (NYSE:DELL) and HPE (NYSE:HPE). Hough’s answer had a number in it that should probably make everyone else nervous too. “You can look at the S&P 500 right now ... The S&P 500 Looks Pricey at 22x Earnings. On Cash Flow, It’s a Terrifying 32x.

Microsoft joins AI-driven tech layoff wave with 4,800 job cuts
Reuters41d agoneutral
Microsoft joins AI-driven tech layoff wave with 4,800 job cuts

Microsoft is cutting about 2.1% of its workforce, or roughly 4,800 jobs, the latest in a wave of tech layoffs as the Windows maker spends heavily ‌on AI infrastructure and uses the technology to improve efficiency across its business. Big Tech's ‌historic AI outlays, set to top $700 billion this year, are piling pressure on companies to show returns from the technology and ​offset the rising cost of rolling it out across their businesses. Microsoft announced the cuts on Monday following a rough stretch, with its shares falling nearly 23% in the first six months of 2026, their worst first-half performance since 2022.

AI investors may pivot to hyperscalers from chipmakers, Morgan Stanley says
Reuters41d agoneutral
AI investors may pivot to hyperscalers from chipmakers, Morgan Stanley says

Morgan Stanley said the recent weakness in U.S. semiconductor stocks is a sign that the market ‌gains are broadening, with investors likely to turn toward ‌AI "hyperscalers" as well as consumer discretionary, transport and biotechnology shares. In a note dated ​Monday, the brokerage said hyperscalers — an industry term for tech companies that are spending big on data centers — could benefit from a rotation away from semiconductor stocks as the AI cycle shifts. Although the ‌likes of Alphabet ⁠and Amazon have committed billions to scale up their AI infrastructure, skyrocketing the share prices of semiconductor ⁠companies, clear evidence that AI products can generate returns that justify the spending is yet to be seen.

Bloomberg41d agobullish
Broadcom, Apple Expand Partnership to 2031 With Custom Chips

(Bloomberg) -- Broadcom Inc. said Monday that it will provide custom chips for Apple Inc. in an expanded deal that runs through 2031.Most Read from BloombergGreece Offers Bounty to Catch Ravenous Fish Lured by Warming SeaOil, Gas Tankers Cross Hormuz Via Oman-Side Route After U-TurnsThe Tanker Tycoon Making Millions on Hormuz Shuttle RunsModi’s Flagship Biofuel Push Faces Backlash From MotoristsFIFA Allows Balogun to Play After Trump Call Sparking UproarThe companies have signed a new multi-year

Bloomberg41d agoneutral
Morgan Stanley’s Wilson Sees Rotation From Chips to Hyperscalers

(Bloomberg) -- US stocks will struggle to reach new highs as investors rotate out of some of this year’s biggest winning technology trades, according to Morgan Stanley strategists.Most Read from BloombergOil, Gas Tankers Cross Hormuz Via Oman-Side Route After U-TurnsGreece Offers Bounty to Catch Ravenous Fish Lured by Warming SeaThe Supertanker Tycoon Making Millions on Hormuz Shuttle RunsModi’s Flagship Biofuel Push Faces Backlash From MotoristsOil’s Supply Wave, Tumbling Prices Rekindle Fears

Top Analyst strongly resets AMD stock price target
TheStreet41d agoneutral
Top Analyst strongly resets AMD stock price target

Wall Street just picked a new favorite in the AI chip race, and it isn't the company most investors expect. According to Investing.com, Cantor Fitzgerald analyst C.J. Muse raised his price target on Advanced Micro Devices (AMD) to $700 from $500 on June 29, keeping his Overweight rating. That ...