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☆ Blackstone's data-center bets have climbed 10-fold to $100 billion in just 3 years. And it's just the start, Steve Schwarzman says.
▼ + stars: | 2024-04-18 | by ( Daniel Geiger | ) www.businessinsider.com time to read: +4 min

Schwarzman said QTS was now "the largest data center company in North America" and that data centers were one of Blackstone's "highest conviction investment themes today." Jon Gray, Blackstone's president, suggested Blackstone's data center portfolio would continue to grow. The size of Blackstone's investments in data centers reflect an astonishing rise for a once-obscure industry that's gaining importance in the race to develop and commercialize artificial intelligence. Around the country, there has been a boom of data center construction. Late last year, QTS won local approval to build one of the country's largest new data center projects in Virginia.

Persons: Steve Schwarzman, Schwarzman, Blackstone's, Blackstone, QTS, Jon Gray, Gray, Michael Chae, We've Organizations: Business, Blackstone, Google, Income Trust, Digital Realty Trust Locations: North America, QTS, Virginia, Frankfurt, Paris

☆ Why experts are studying how to improve tablets for parrot use
▼ + stars: | 2024-04-11 | by ( Taylor Nicioli | ) edition.cnn.com time to read: +7 min

By designing a balloon-popping tablet game and collecting data from 20 pet parrots, the researchers found that birds’ interest in the game indicated mental stimulation could be a potential benefit. Each parrot popped virtual balloons by using its tongue and beak, with eyes often very close to the screen. Rébecca KleinbergerResearchers designed the tablet game to be used by a parrot in collaboration with the bird's caretaker. One bird showed more interest in playing the game after researchers adjusted the tablets to only account for one tap per 300 milliseconds, she added. Mobile games for parrot enrichmentIf a parrot owner is looking to introduce tablets into a pet’s schedule, it’s important to remember that the activity should be collaborative between the owner and the bird, Pepperberg said.

Persons: Rébecca Kleinberger, ”, Kleinberger, Irene Pepperberg, Pepperberg, Rébecca, ” Kleinberger, Gabriel Miller, Kurt Sladky, Sladky Organizations: CNN, ACM, of Computing Machinery, Computing Systems, Northeastern University, Boston University, University of Wisconsin, Madison’s, of Veterinary Medicine, Mobile Locations: Boston

☆ What to know about the AI company Amazon is betting billions on
▼ + stars: | 2024-03-28 | by ( Aaron Mok | ) www.businessinsider.com time to read: +4 min

Earlier this week, Amazon said it'd commit a further $2.75 billion to the San Francisco-based company as part of its efforts to get ahead of other Big Tech competitors in the AI arms race. AdvertisementSo, what's the deal behind the company Amazon is betting billions on? Related storiesDuring its early days, Anthropic focused on research, training, and testing efforts to ensure its AI model acted in a way that aligned with human values. Since the initial launch, Anthropic has released a slate of new AI models. Moving forward, Anthropic plans to release more updates to its Claude 3 model family and make its AI more suitable for companies.

Persons: —, Amazon, Claude, OpenAI's ChatGPT, it'd, Anthropic, Dario Amodei, Daniela Amodei, OpenAI, Amodei, Face's, Sam Bankman, what's, Swami Sivasubramanian, Anthropic didn't Organizations: Service, San, Big Tech, Business, New York Times, Google, CNBC Locations: Anthropic, San Francisco

☆ Polar ice is melting and changing Earth’s rotation. It’s messing with time itself
▼ + stars: | 2024-03-27 | by ( Laura Paddison | Rachel Ramirez | ) edition.cnn.com time to read: +5 min

Exactly when that will happen is being influenced by humans, according to a new study, as melting polar ice alters the Earth’s rotation and changes time itself. The hours and minutes that dictate our days are determined by Earth’s rotation. But after a long trend of slowing, the Earth’s rotation is now speeding up. Melting polar ice is slowing the impact on Earth’s rotation and has delayed the date by three years, pushing it from 2026 to 2029, the report found. Changes in Earth’s rotation over the long term have been dominated by the friction of the tides on the ocean floor — which has slowed down its rotation.

Persons: Patrizia, ”, Duncan Agnew, Agnew, Ted Scambos, ” Agnew, “, Olivier Morin, Scambos Organizations: CNN, Time Department, International Bureau, University of California San, University of Colorado Boulder Locations: France, University of California San Diego, Scoresby Fjord, Greenland, AFP

☆ Step aside Nvidia, this global supercomputing stock is up 95% this year — and it's betting big on AI
▼ + stars: | 2024-03-18 | by ( Ganesh Rao | ) www.cnbc.com time to read: +4 min

ParTec , a developer of supercomputing systems, has surged over 95% year-to-date as investors have started to take notice of its potential. Hendrik Leber, fund manager at Acatis Datini Valueflex Fonds, owns ParTec shares and says he sees the company as a "very clear" investment opportunity. While competitors like Hewlett Packard can also bid on supercomputing projects, Lago Mascato said ParTec's middleware gives them a "unique selling point." Due to the thin trading volumes, Leber noted that even a 2 million euro stock placement took about a month to complete. Future opportunities with AI ParTec sees significant opportunities beyond traditional supercomputing by providing systems tailored to train large AI models.

Persons: Hendrik Leber, ParTec, Leber, Miguel Lago, Montega, Lago Mascato, Hewlett Packard, Bernhard Frohwitter, Frohwitter Organizations: supercomputing, Frankfurt Stock Exchange, Karlsruhe Institute of Technology, Valueflex Fonds, CNBC Pro Locations: Germany, Valueflex, Europe, physicals

☆ Crucial ocean current system could be on course to collapse with catastrophic impacts on global weather
▼ + stars: | 2024-02-09 | by ( Laura Paddison | ) edition.cnn.com time to read: +6 min

This new study provides an “important breakthrough,” said René van Westen, a marine and atmospheric researcher at the University of Utrecht in the Netherlands and study co-author. It’s the first time a collapse has been detectable using these complex models, representing “bad news for the climate system and humanity,” the report says. “But we can at least say that we are heading in the direction of the tipping point under climate change,” van Westen said. The AMOC’s collapse could also cause sea levels to surge by around 1 meter (3.3 feet), van Westen said. “(It) adds significantly to the rising concern about an AMOC collapse in the not too distant future,” he said.

Persons: ”, René van Westen, van Westen, ” van Westen, Stefan Rahmstorf, Rahmstorf, Joel Hirschi, Jeffrey Kargel, Hirschi, “ Organizations: CNN, Northern, University of Utrecht, Southern, Potsdam University, National Oceanography, Planetary Science Institute Locations: Atlantic, Netherlands, Europe, Germany, Arizona

☆ Taiwan’s Foxconn to build ‘AI factories’ with Nvidia
▼ + stars: | 2023-10-18 | by ( Eric Cheung | ) edition.cnn.com time to read: +5 min

Taipei CNN —Taiwan’s Foxconn says it plans to build artificial intelligence (AI) data factories with technology from American chip giant Nvidia, as the electronics maker ramps up efforts to become a major global player in electric car manufacturing. Foxconn Chairman Young Liu and Nvidia CEO Jensen Huang jointly announced the plans on Wednesday in Taipei. The duo said the new facilities using Nvidia’s chips and software will enable Foxconn to better utilize AI in its electric vehicles (EV). Nearly 14 million electric cars will be sold in 2023, it projected. REUTERS/Ann Wang Ann Wang/ReutersDuring last year’s tech day, Liu told reporters that the company hoped to build 5% of the world’s electric cars by 2025.

Persons: Taipei CNN — Taiwan’s Foxconn, Young Liu, Jensen Huang, ” Huang, “, ” Liu, Foxconn, ”, Kylie Huang, Ann Wang Ann Wang, Liu, Chiang Shang, TSMC, Jun Seki, Bill Russo, Automobility, Tesla, ‘ I’m, ’, ” Hanna Ziady Organizations: Taipei CNN, Nvidia, Foxconn, Global, International Energy Agency, Hai Technology Group, Daiwa, Tech, REUTERS, Reuters, Lordstown Motors, General Motors, EV, Nissan Motor, Infineon Technologies Locations: Taipei, Taiwan, Kaohsiung, EVs, Ohio, Chiang, German, Shanghai

The French competition authority (FCA) said on Wednesday it conducted the dawn raid a day earlier on a company in the "graphics cards sector", it said. French newspaper Challenges and the Wall Street Journal identified the company as Nvidia (NVDA.O). While GPU prices start from over $1,000, the ones favoured by AI companies can cost well over $10,000. Nvidia has a presence in both sectors, and if any startup is planning to create an AI company, they would need to depend on Nvidia for the chips. Various French authorities have looked at Big Tech companies previously, including issuing a fine to Google in 2021 for infringing EU competition law.

Persons: Dado Ruvic, Charlotte Colin, Dubuisson, Colin, Supantha Mukherjee, Dominique Vidalon, Emelia Sithole Organizations: NVIDIA, REUTERS, Rights, Nvidia, Big Tech, Wall Street Journal, Intel, AMD, Tesla, Oracle, Google, Microsoft, Thomson Locations: Rights STOCKHOLM, FRANCE, France, Stockholm, Paris

REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsBENGALURU, Sept 8 (Reuters) - U.S. chip firm Nvidia and telecom-to-retail giant Reliance on Friday announced an AI partnership to create language models, generative apps and a cloud infrastructure platform for AI development in the South Asian nation. "Reliance will create AI applications and services for their 450 million Jio (telecom) customers and provide energy-efficient AI infrastructure to scientists, developers and startups across India," Nvidia said. Nvidia globally has a near-monopoly on the computing systems used to power services like ChatGPT, OpenAI's blockbuster generative AI chatbot. Reliance said the new AI infrastructure will speed up a range of India's key AI projects, including chatbots, drug discovery, and climate research. Separately, India's Tata Group too is set to announce an AI partnership with Nvidia later during Friday, a source with direct knowledge of the matter told Reuters.

Persons: Dado Ruvic, Mukesh Ambani, Grace Hopper Superchip, Reliance, Neil Shah, Munsif, Aditya Kalra, Sharon Singleton, Kim Coghill, David Evans Organizations: NVIDIA, REUTERS, Rights, Nvidia, Reliance, Counterpoint Research, Reuters, India's Tata Group, Thomson Locations: India, Bengaluru, Dhwani Pandya, Mumbai, New Delhi

The logo of Nvidia Corporation is seen during the annual Computex computer exhibition in Taipei, Taiwan May 30, 2017. Nvidia's stock price, though, has more than tripled this year and was set to hit an all-time high after Wednesday's results. The company has a near-monopoly on the computing systems used to power services like ChatGPT, OpenAI's blockbuster generative AI chatbot. Huang declined to comment on whether the AI boom will last past next year. The company said the biggest sales driver this quarter was its HGX system, which is an entire computer built around Nvidia's chip.

Persons: Tyrone Siu, Huang, Jensen Huang, quashing, Kinngai Chan, Chan, Dylan Patel, SemiAnalysis, Patel, We're, Stephen Nellis, Max Cherney, Chavi Mehta, Sonali Paul Organizations: Nvidia Corporation, REUTERS, Nvidia, Reuters, Microsoft, Summit, Thomson Locations: Taipei, Taiwan, OpenAI, San Francisco

☆ Nvidia Revenue Doubles on Demand for A.I. Chips, and Could Go Higher
▼ + stars: | 2023-08-23 | by ( Don Clark | ) www.nytimes.com time to read: +1 min

They also sharply raised the interest in what Nvidia might say the next time about chip demand for its current quarter, which ends in October. Nvidia projected third-quarter sales of $16 billion, nearly triple the level a year ago and $3.7 billion more than analysts’ average expectations of around $12.3 billion. Other tech companies like Google and Microsoft are spending billions and making little on A.I., but Nvidia is cashing in. Jensen Huang, Nvidia’s chief executive, said major cloud services and other companies were investing to bring Nvidia’s A.I. Until recently, Nvidia got the biggest share of its revenue from sales of GPUs for rendering images in video games.

Persons: Jensen Huang, Nvidia’s, ” Organizations: Nvidia, Google, Microsoft

☆ Applied Digital confident on annual revenue as AI drives up data center demand
▼ + stars: | 2023-07-24 | by ( ) www.reuters.com time to read: +1 min

July 24 (Reuters) - Applied Digital (APLD.O) forecast annual revenue above market estimates on Monday, as the rise of artificial intelligence drives up demand for its data center services, sending the company's shares 18% higher in early trading. "We will accelerate our focus on non-crypto use cases and leverage capabilities of our next-generation proprietary data center assets for HPC applications," said CEO Wes Cummins. The company expects annual revenue in the range of $385 million to $405 million, compared with analysts' average expectations of $308.8 million, according to Refinitiv data. The company reported revenue of $22 million for the three months to May 31, compared with analysts' average estimate of $26.4 million. Its loss per share was 7 cents, compared with 4 cents a year earlier.

Persons: Wes Cummins, Jaspreet Singh, Shilpi Majumdar Organizations: Applied Digital, Thomson Locations: Bengaluru

[1/2] A view of Condor Galaxy supercomputing systems for artificial intelligence work made by Cerebras Systems, in Santa Clara, California, U.S., in this undated handout photo received on July 19, 2023. Abu Dhabi-based G42, a tech conglomerate with nine operating companies that include datacenter and cloud service businesses, says it plans to use the Cerebras systems to sell AI computing services to health care and energy companies. G42 has raised $800 million from U.S. tech investment firm Silver Lake, which has backing from Mudabala, the UAE's soverign wealth fund. "Cerebras has what they call a 'white glove' service that made it easy for us" to build AI systems on its machines, G42 Cloud CEO Talal AlKaissi told Reuters. G42 Cloud's AlKaissi declined to comment on the terms of the deal.

Persons: Rebecca Lewington, Cerebras, Andrew Feldman, Feldman, Talal AlKaissi, Stephen Nellis, Krystal Hu, Rashmi Organizations: Condor Galaxy supercomputing, Cerebras Systems, REUTERS, Systems, United Arab, Nvidia Corp, Nvidia, Condor Galaxy, Cerebras, UAE, Mudabala, Reuters, Thomson Locations: Santa Clara , California, U.S, United Arab Emirates, Abu Dhabi, Silver, San Francisco, New York

[1/2] A view of Condor Galaxy supercomputing systems for artificial intelligence work made by Cerebras Systems, in Santa Clara, California, U.S., in this undated handout photo received on July 19, 2023. Courtesy of Rebecca Lewington of Cerebras Systems/Handout via REUTERSJuly 20 (Reuters) - Cerebras Systems on Thursday said that it has signed an approximately $100 million deal to supply the first of three artificial intelligence (AI) supercomputers to the United Arab Emirates-based technology group G42. "Cerebras has what they call a 'white glove' service that made it easy for us" to build AI systems on its machines, G42 Cloud CEO Talal AlKaissi told Reuters. The contract to complete the first of the three systems announced on Thursday is worth about $100 million, Cerebras CEO Andrew Feldman said. "What we're saying is that the $100 million contract takes us through Condor Galaxy 1... That's the unit, the building block."

Persons: Rebecca Lewington, Cerebras, Talal AlKaissi, Andrew Feldman, Stephen Nellis, Krystal Hu, Rashmi Organizations: Condor Galaxy supercomputing, Cerebras Systems, REUTERS, Systems, United Arab, Nvidia Corp, Nvidia, Condor Galaxy, Mudabala, Reuters, Thomson Locations: Santa Clara , California, U.S, United Arab Emirates, Abu Dhabi, Silver, San Francisco, New York

☆ Microsoft says new computing service for chemicals can slash R&D time
▼ + stars: | 2023-06-21 | by ( Stephen Nellis | ) www.reuters.com time to read: +1 min

June 21 - Microsoft Corp (MSFT.O) on Wednesday introduced a new computing service aimed at helping chemical companies speed up the research and development of new materials. Azure Quantum Elements, as the service is called, relies on computing power to help chemical companies simulate huge numbers of possible combinations of atoms. In a press release, Microsoft said that the system has helped some early customers speed up their development processes by as much as six months. Microsoft said that BASF (BASFn.DE), AkzoNobel (AKZO.AS), AspenTech, Johnson Matthey (JMAT.L), SCGC and 1910 Genetics have been testing the system. Microsoft said it was also publishing a scientific paper on the milestone but gave few other details ahead of its announcement.

Persons: Johnson Matthey, Satya Nadella, Stephen Nellis, Kim Coghill Organizations: Microsoft Corp, Microsoft, BASF, Thomson Locations: San Francisco

☆ Nvidia CEO feels safe relying heavily on Taiwan manufacturing
▼ + stars: | 2023-06-01 | by ( ) www.reuters.com time to read: +1 min

TAIPEI, June 1 (Reuters) - Nvidia Corp (NVDA.O), a major supplier of chips and computing systems for artificial intelligence, feels "perfectly safe" about relying heavily on Taiwan for manufacturing, its chief executive Jensen Huang said on Thursday. Huang, speaking on the sidelines of a technology event in Taipei, said he planned to meet executives from chip manufacturer Taiwan Semiconductor Manufacturing Co Ltd (2330.TW) and electronics maker Foxconn (2317.TW) on Friday. He had not yet decided if he would visit China after his Taiwan trip, he added. Huang said Nvidia, the world's most valuable listed semiconductor company, had a lot of "diversity" and "resilience" built into its supply chain and described TSMC's process of diversifying in different geographies as an excellent strategy. Reporting by Ben Blanchard; Editing by Anne Marie Roantree, Jacqueline Wong and Christina FincherOur Standards: The Thomson Reuters Trust Principles.

Persons: Jensen Huang, Huang, selfies, Ben Blanchard, Anne Marie Roantree, Jacqueline Wong, Christina Fincher Organizations: Nvidia Corp, Taiwan Semiconductor Manufacturing Co, Nvidia, Thomson Locations: TAIPEI, Taiwan, Taipei, China, U.S

May 30 (Reuters) - Jensen Huang, the chief of chipmaker Nvidia Corp (NVDA.O), has joined an elite list of tech executives to head a company worth $1 trillion. Nvidia shares have been on a tear, rising on stellar sales projections from a boom in artificial-intelligence workloads and components. Huang was born in Taiwan but moved to the United States as a child, earning engineering degrees at Oregon State University and Stanford University. In 1993 he founded Nvidia along with Curtis Priem and Chris Malachowsky, securing backing from Silicon Valley's Sequoia Capital and others. As companies further adopt AI, Nvidia could be one of the key beneficiaries.

Persons: Jensen Huang, Huang, Inc's, Jeff Bezos, ChatGPT, Curtis Priem, Chris Malachowsky, Andrew Ng, Yuvraj Malik, Samrhitha, Stephen Nellis, Matthew Lewis Organizations: Nvidia Corp, Nvidia, Oregon State University, Stanford University, Valley's Sequoia Capital, BET, INTEL, Taiwan Semiconductor Manufacturing, Intel Corp, Logic Corp, Devices Inc, Alphabet Inc, Baidu Inc, HK, San, Thomson Locations: Taiwan, United States, Taipei, Bengaluru, San Francisco

☆ AI means everyone can now be a programmer, Nvidia chief says
▼ + stars: | 2023-05-29 | by ( ) www.reuters.com time to read: +2 min

Nvidia has surged to become the world's most valuable listed semiconductor company as a major supplier of chips and computing systems for artificial intelligence. "Every single computing era you could do different things that weren't possible before, and artificial intelligence certainly qualifies," Huang added. Everyone is a programmer now - you just have to say something to the computer," he said. Huang demonstrated what AI could do, including getting a programme to write a short pop song praising Nvidia with only a few words of instruction. Nvidia has strained to meet demand for its AI chips, with Tesla Inc TSLA.O CEO Elon Musk, who is reportedly building out an artificial-intelligence startup, last week telling an interviewer that the graphics processing units (GPUs) are "considerably harder to get than drugs".

☆ Intel gives details on future AI chips as it shifts strategy
▼ + stars: | 2023-05-22 | by ( Stephen Nellis | ) www.reuters.com time to read: +2 min

May 22 (Reuters) - Intel Corp (INTC.O) on Monday provided a handful of new details on a chip for artificial intelligence (AI) computing it plans to introduce in 2025 as it shifts strategy to compete against Nvidia Corp (NVDA.O) and Advanced Micro Devices Inc (AMD.O). At a supercomputing conference in Germany on Monday, Intel said its forthcoming "Falcon Shores" chip will have 288 gigabytes of memory and support 8-bit floating point computation. Intel, by contrast, has essentially no market share after its would-be Nvidia competitor, a chip called Ponte Vecchio, suffered years of delays. Intel on Monday said it has nearly completed shipments for Argonne National Lab's Aurora supercomputer based on Ponte Vecchio, which Intel claims has better performance than Nvidia's latest AI chip, the H100. But Intel's Falcon Shores follow-on chip won't be to market until 2025, when Nvidia will likely have another chip of its own out.

☆ Meta Platforms scoops up AI networking chip team from Graphcore
▼ + stars: | 2023-05-05 | by ( Katie Paul | ) www.reuters.com time to read: +4 min

May 5 (Reuters) - Meta Platforms Inc (META.O) has hired an Oslo-based team that until late last year was building artificial-intelligence networking technology at British chip unicorn Graphcore. "We recently welcomed a number of highly-specialized engineers in Oslo to our infrastructure team at Meta. Meta, which owns Facebook and Instagram, has become increasingly reliant on AI technology to target advertising, select posts for its apps' feeds and purge banned content from its platforms. The 10 employees' job descriptions on LinkedIn indicated the team had worked on AI-specific networking technology at Graphcore, which develops computer chips and systems optimized for AI work. A new category of network chip has emerged to help keep data moving smoothly within those computing clusters.

☆ Meta Platforms scoops up A.I. networking chip team from Graphcore
▼ + stars: | 2023-05-05 | by ( ) www.cnbc.com time to read: +2 min

Meta Platforms Inc. has hired an Oslo-based team that until late last year was building artificial-intelligence networking technology at British chip unicorn Graphcore. "We recently welcomed a number of highly-specialized engineers in Oslo to our infrastructure team at Meta. They bring deep expertise in the design and development of supercomputing systems to support AI and machine learning at scale in Meta's data centers," said Jon Carvill, the Meta spokesperson. Meta, which owns Facebook and Instagram, has become increasingly reliant on AI technology to target advertising, select posts for its apps' feeds and purge banned content from its platforms. The 10 employees' job descriptions on LinkedIn indicated the team had worked on AI-specific networking technology at Graphcore, which develops computer chips and systems optimized for AI work.

☆ Nvidia releases software tools to help chatbots watch their language
▼ + stars: | 2023-04-25 | by ( Stephen Nellis | ) www.reuters.com time to read: +2 min

April 25 (Reuters) - Nvidia Corp (NVDA.O), a major supplier of chips and computing systems for artificial intelligence, on Tuesday released a set of software tools aimed at helping chatbots watch their language. But the chatbots can still be unpredictable and say things their creators wish they did not. Nvidia's software tools, provided free of charge, are designed to help companies guard against unwanted responses from chatbots. U.S. lawmakers have called for regulations around AI systems as apps like ChatGPT have surged in popularity. Few legal rules or industry standards exist on how to make AI systems safe.

☆ Moderna teams up with IBM to put AI, quantum computing to work on mRNA technology used in vaccines
▼ + stars: | 2023-04-20 | by ( Annika Kim Constantino | ) www.cnbc.com time to read: +3 min

Moderna and IBM are teaming up to use generative artificial intelligence and quantum computing to advance mRNA technology, the development at the core of the company's blockbuster Covid vaccine, the companies announced Thursday. The companies said they signed an agreement for Moderna to access IBM's quantum computing systems. IBM will also provide experts who can help Moderna scientists explore the use of quantum technologies, the companies added. Unlike traditional computers, which store information as either zeroes or ones, Quantum computing hinges on quantum physics. The companies said Moderna will use IBM's model to understand "the characteristics of potential mRNA medicines" and design a new class of vaccines and therapies.

☆ Huawei launches in-house software system after being cut off from US services
▼ + stars: | 2023-04-20 | by ( David Kirton | ) www.reuters.com time to read: +2 min

ERP software is used by companies to manage key business operations ranging from accounting to supply chain management. "We were cut off from the old ERP system and other core operation and management systems three years ago," said Tao Jingwen, a Huawei board member and president of its quality, business process and IT management department. The in-house Meta-ERP has been rolled out across 80% of the company's business, Huawei said in a news release. The cut off was a "massive crisis" for Huawei, Tao said in his speech, saying that the old system had been core to the company's operations for over two decades. Huawei's 'meta-ERP' system is a 'cloud-native' product, which uses the company's cloud-computing systems for greater efficiency than traditional ERP products, the person said.

☆ Stocks making the biggest moves midday: Tesla, IBM, American Express, AT&T and more
▼ + stars: | 2023-04-20 | by ( Alex Harring | ) www.cnbc.com time to read: +6 min

American Express posted earnings per share of $2.40 for the first quarter, below an estimate of $2.66, per Refinitiv. On Wednesday, the casino and resort company posted a beat on first-quarter earnings. The decline comes a day after Zions missed earnings expectations in the first quarter. The company posted earnings of $2.73 per share on revenue of $7.97 billion. The downgrade comes ahead of the defense firm's first quarter earnings report, which is set to release April 25.

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