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☆ Report warns U.S. chip design market share to plunge without government support
▼ + stars: | 2022-11-30 | by ( Jane Lanhee Lee | ) www.reuters.com time to read: +2 min

The U.S. share of chip design revenue has been slipping in recent years, dropping to 46% in 2021 from over 50% in 2015. The United States has already lost its lead in chip manufacturing, prompting the Biden administration to pass the CHIPS and Science Act this year. An earlier report by SIA and BCG in 2020 showed the U.S. share of modern global chip manufacturing capacity had fallen to 12% by that year, down from 37% in 1990. The report also said government support is helping companies in countries like China and South Korea to gain market share in chip designing as well. It said federal investment in semiconductor design and R&D of $20 billion-$30 billion through 2030, including a $15 billion-$20 billion investment tax credit for chip design, would be needed to maintain U.S. leadership in the long-run.

S&P 500 stocksAll 11 S&P 500 sector indexes declined, led by real estate (.SPLRCR), down 2.81%, and a 2.74% loss in energy (.SPNY). The S&P 500 declined 1.54% to end the session at 3,963.95 points. With two trading days left in November, the S&P 500 is on track for a gain of 2.4% for the month. Trading was mixed in other heavyweight growth stocks, including Microsoft Corp (MSFT.O), Meta Platforms Inc (META.O), Nvidia Corp (NVDA.O) and Tesla Inc (TSLA.O). The S&P 500 posted 12 new highs and two new lows; the Nasdaq recorded 93 new highs and 174 new lows.

S&P 500 stocksAll 11 S&P 500 sector indexes declined, led by real estate (.SPLRCR), down 2%, followed by a 1.91% loss in energy (.SPNY). In afternoon trading, the S&P 500 (.SPX) was down 1.20% at 3,977.86 points. Trading was mixed in other heavyweight growth stocks, including Microsoft Corp (MSFT.O), Meta Platforms Inc (META.O), Nvidia Corp (NVDA.O) and Tesla Inc (TSLA.O). Declining stocks outnumbered rising ones within the S&P 500 (.AD.SPX) by a 7.7-to-one ratio. The S&P 500 posted 11 new highs and two new lows; the Nasdaq recorded 75 new highs and 120 new lows.

Rare protests in major Chinese cities over the weekend against the country's strict zero-COVID curbs have hit growth expectations in the world's second-largest economy. U.S.-listed shares of Chinese companies such as Bilibili Inc , Alibaba Group Holding Ltd , JD.com Inc , Baidu Inc and Nio Inc , however, eked out gains, rising between 1% and 2.2%. Declining issues outnumbered advancers for a 2.47-to-1 ratio on the NYSE and for a 1.95-to-1 ratio on the Nasdaq. The S&P index recorded 11 new 52-week highs and two new lows, while the Nasdaq recorded 74 new highs and 102 new lows. Reporting by Ankika Biswas and Shreyashi Sanyal in Bengaluru; Editing by Shounak Dasgupta and Anil D'SilvaOur Standards: The Thomson Reuters Trust Principles.

☆ Wall St set to open lower on China's anti-lockdown protests; Apple slips
▼ + stars: | 2022-11-28 | by ( Ankika Biswas | ) www.reuters.com time to read: +3 min

As China's strict zero-COVID policy aimed at stamping out COVID-19 with lockdowns and quarantines has become a lightning rod for frustrations, protests erupted over the weekend as a show of solidarity with rare displays of defiance. Although there were no signs of new protests in Beijing or Shanghai on Monday, the curbs so far have led to concerns over China's economic growth and its trickle-down effect on global companies. ET, Dow e-minis were down 216 points, or 0.63%, S&P 500 e-minis were down 33.75 points, or 0.84%, and Nasdaq 100 e-minis were down 99 points, or 0.84%. On Friday, the Nasdaq closed lower, weighed down by Apple in a subdued holiday-shortened trading session for Wall Street. Reporting by Ankika Biswas and Shreyashi Sanyal in Bengaluru; Editing by Savio D'Souza and Shounak DasguptaOur Standards: The Thomson Reuters Trust Principles.

☆ Chip Maker Nvidia Issues Tepid Earnings Forecast as Videogaming Business Slows
▼ + stars: | 2022-11-17 | by ( Asa Fitch | ) www.wsj.com time to read: 1 min

Nvidia Corp., America’s largest chip company by value, announced its revenue fell 17% to $5.93 billion. Graphics chip maker Nvidia Corp. issued a muted outlook and reported a sharp decline in quarterly sales, driven by waning consumer demand for its videogaming chips after a pandemic-fueled boom. America’s largest chip company by value on Wednesday said revenue fell 17% to $5.93 billion after gaming-segment sales more than halved in its fiscal third quarter. Net profit was $680 million. The sales were above expectations in a survey of analysts by FactSet , but net profit fell short.

☆ Futures slip as investors assess mixed economic data
▼ + stars: | 2022-11-17 | by ( ) www.reuters.com time to read: +2 min

SummarySummary Companies Futures off: Dow 0.12%, S&P 0.12%, Nasdaq 0.07%Nov 17 (Reuters) - U.S. stock index futures edged lower on Thursday following mixed economic data this week, while chip designer Nvidia rose after reporting better-than-expected quarterly revenue. Peers Advanced Micro Devices Inc (AMD.O) and Intel Corp (INTC.O) added 1.2% and 0.4%, respectively. "Wall Street was rattled by a conflicting retail picture," said Susannah Streeter, senior investment and markets analyst at Hargreaves Lansdown. This has added to expectations that higher rates will have to linger for a lot longer to make a difference." ET, Dow e-minis were down 41 points, or 0.12%, S&P 500 e-minis were down 4.75 points, or 0.12%, and Nasdaq 100 e-minis were down 8.75 points, or 0.07%.

Nov 16 (Reuters) - Chip designer and computing firm Nvidia Corp (NVDA.O) beat expectations for third-quarter revenue on Wednesday, thanks to strong demand in its data center business on the back of rising cloud adoption. Data center revenue in the third quarter rose 31% from a year ago, while gaming revenue was down 51% from a year ago. Cloud companies are increasingly using Nvidia chips in their systems. read moreAnd Nvidia Chief Financial Officer Colette Kress said while the export restrictions impacted third-quarter revenue, the decline was "largely offset by sales of alternative products into China." Nvidia forecast current-quarter revenue at $6 billion, plus or minus 2%, versus expectation of $6.09 billion.

Nov 16 (Reuters) - Chip designer and computing firm Nvidia Corp (NVDA.O) beat expectations for third-quarter revenue on Wednesday, thanks to strong demand in its data center business on the back of rising cloud adoption. Nvidia's A100 data center chip and ramp-up in its latest "Hopper" series H100 chip will help the company maintain momentum in the data center space, analysts said. Data center revenue in the third quarter rose 31% from a year ago, while gaming revenue was down 51% from a year ago. Analysts on average expect revenue of $6.09 billion, according to Refinitiv data. Analysts on average had expected revenue of $5.77 billion, according to Refinitiv data.

REUTERS/Brendan McDermid/File PhotoSummarySummary Companies October retail sales rise more than expectedTarget's dull outlook weighs on retailersMicron's supply cut triggers chip selloffIndexes: Dow up 0.05%, S&P down 0.51%, Nasdaq down 1.10%Nov 16 (Reuters) - The S&P 500 and Nasdaq fell on Wednesday as a grim outlook from Target spurred fresh concerns for retailers heading into the crucial holiday season, while Micron's supply cut triggered a selloff in the chip sector. Target Corp (TGT.N) tumbled as much as 17% in early trading as a pullback in consumer spending despite heavy discounting cut its third-quarter profit by half. Despite the sales warning from Target, data showed U.S. retail sales increased more than expected in October, boosted by purchases of motor vehicles and suggesting that consumer spending remained stable. Declining issues outnumbered advancers for a 1.73-to-1 ratio on the NYSE and for a 2.23-to-1 ratio on the Nasdaq. The S&P index recorded three new 52-week highs and two new lows, while the Nasdaq recorded 50 new highs and 104 new lows.

☆ Nvidia says it is working with Microsoft to build 'massive' cloud AI computer
▼ + stars: | 2022-11-16 | by ( Jane Lanhee Lee | ) www.reuters.com time to read: +2 min

OAKLAND, Calif, Nov 16, (Reuters) - U.S. chip designer and computing firm Nvidia Corp (NVDA.O) on Wednesday said it is teaming up with Microsoft Corp (MSFT.O) to build a “massive” computer to handle intense artificial intelligence computing work in the cloud. The AI computer will operate on Microsoft’s Azure cloud, using tens of thousands of graphics processing units (GPUs), Nvidia’s most powerful H100 and its A100 chips. “We're seeing a broad groundswell of AI adoption ... and the need for applying AI for enterprise use cases.”In addition to selling Microsoft the chips, Nvidia said it will partner with the software and cloud giant to develop AI models. Buck said Nvidia would also be a customer of Microsoft’s AI cloud computer and develop AI applications on it to offer services to customers. This is important as heavy AI computing work requires thousands of chips to work together across several servers.

☆ Nvidia's quarter fails to excite but offers enough hope that October's bottom can hold
▼ + stars: | 2022-11-16 | by ( Zev Fima | ) www.cnbc.com time to read: +12 min

That said, encouragingly, the team expects Gaming inventory levels to approach normal levels as we enter calendar year 2023. Fourth quarter guidance was underwhelming, but it was encouraging to hear management say they expect to see sequential growth in Data Center, Gaming, and Automotive. Segment Q3 sales Data Center revenue grew 31% to $3.83 billion, a tad short versus the $3.84 billion consensus. Gaming revenue fell 51% to $1.57 billion, but it was better than expectations of $1.33 billion. Capital Allocation In its fiscal third quarter, Nvidia returned a total of $3.75 billion to shareholders via dividends and buybacks.

☆ A conversation with Shark Tank's Kevin O'Leary on FTX, Sam Bankman-Fried, and crypto regulation.
▼ + stars: | 2022-11-16 | by ( Phil Rosen | ) www.businessinsider.com time to read: +6 min

Top of mind, inevitably, was last week's implosion of FTX, as O'Leary was a spokesperson and investor with the exchange. It was our third conversation together, and O'Leary shared candid thoughts on his FTX investments going to zero, as well as details from a phone call he had with Sam Bankman-Fried just before FTX declared bankruptcy. O'Leary, a paid spokesperson for FTX, said he had initially gained trust in the company and its 30-year-old CEO, Sam Bankman-Fried, a little over two years ago. The Shark Tank star told me that he was on the phone with Sam Bankman-Fried the day before FTX declared bankruptcy to discuss a price for potential buyers to rescue FTX. "He confirmed that it was $8 billion, and that's the number I took forward," O'Leary explained.

☆ Futures tick higher as investors await retail sales data, earnings
▼ + stars: | 2022-11-16 | by ( ) www.reuters.com time to read: +2 min

Wall Street ended Tuesday higher despite geopolitical worries, after slower U.S. producer price growth data added to improved inflation outlook for the world's largest economy. Investors awaited key retail sales figures due at 8:30 am ET on Wednesday for further cues on the strength of the U.S. economy. Retailer Walmart Inc (WMT.N) jumped 6.5% in the previous session on lifting its annual sales and profit forecasts, helped by steady demand for groceries despite higher prices. ET, Dow e-minis were up 65 points, or 0.19%, S&P 500 e-minis were up 8 points, or 0.2%, and Nasdaq 100 e-minis were up 20.25 points, or 0.17%. Other megacap growth and technology companies such as Amazon.com (AMZN.O) gained 0.3%, while Apple (AAPL.O) and Alphabet (GOOGL.O) were subdued.

☆ The future of FTX and Sam Bankman-Fried is now in the hands of these 3 lawyers who have worked for Enron, Michael Milken, and Elon Musk
▼ + stars: | 2022-11-11 | by ( Jack Newsham | ) www.businessinsider.com time to read: +7 min

A senior Paul Weiss lawyer has been hired to defend FTX founder and ex-CEO Sam Bankman-Fried. FTX said on Twitter that a sprawling group of companies founded by Bankman-Fried, known as SBF, filed for Chapter 11 bankruptcy in Delaware. The new CEO of FTX is John J. Ray III, a lawyer-turned-executive with a colorful past leading troubled companies, most notably Enron. The firm Paul Weiss and its lawyer Martin Flumenbaum, who represented the junk-bonds king Michael Milken, are representing Bankman-Fried personally. John J. Ray IIIRay joined FTX as CEO just in time to sign its bankruptcy filing.

"It takes off the table the risk that the Fed will have to overtighten and break the economy." The inflation data prompted traders to adjust their rate hike bets, with odds of a 50-basis point rate hike in December jumping to more than 80% from 52% before the data was released. The CBOE volatility index (.VIX), also known as Wall Street's fear gauge, fell to a near two-month low of 23.4 points. Wall Street's main indexes have suffered sharp losses this year as investors feared the U.S. central bank's aggressive rate hikes to tame decades-high inflation will tip the economy into recession. The S&P index recorded 13 new 52-week highs and no new low, while the Nasdaq recorded 70 new highs and 93 new lows.

Every line of the report shows sequential improvement," said Art Hogan, chief market strategist at B. Riley Financial. The report prompted traders to adjust their rate hike bets, with bets of a 50-basis point rate hike in December jumping to more than 70% from 45% before the data was released. Following last week's Fed policy meeting, some U.S. central bank officials have made comments that pointed to slower rate rises over coming meetings. The Fed's policy rate is currently in a range of 3.75%-4.00%. The CBOE volatility index (.VIX), also known as Wall Street's fear gauge, fell to a near two-month low of 23.94.points.

[1/2] Handout image shows 4th Gen AMD EPYC processor, launched by AMD on November 10, 2022, in this undated handout image. AMD/Handout via REUTERSNov 10 (Reuters) - Advanced Micro Devices Inc (AMD.O) launched its latest data center chip on Thursday and said Microsoft Corp's (MSFT.O) Azure, Alphabet-owned (GOOGL.O) Google Cloud and Oracle Corp would be some of its customers. "What that means for enterprises and for cloud data centers is that it translates into lower capex, lower opex and lower total cost of ownership," she said. Genoa launches at a time when rival Intel Corp's (INTC.O) latest data center chip, code named Sapphire Rapids, has struggled with delays. "IDC expects AMD will stay on track, continue building up market share in public cloud deployments," said Ashish Nadkarni, datacenter and cloud analyst at IDC.

Nvidia’s new chip is a response to the Biden administration’s new rules restricting exports of American chip technology to China. HONG KONG— Nvidia Corp. has begun offering an alternative to a high-end chip hit with U.S. export restrictions to customers in China, after the new rules threatened to cost the American company hundreds of millions of dollars in lost revenue. Nvidia said the new graphics-processing chip, branded the A800, meets U.S. restrictions on chips that can be exported to China under new rules rolled out last month. The chip went into production in the third quarter, the company said.

☆ EXCLUSIVE Nvidia offers new advanced chip for China that meets U.S. export controls
▼ + stars: | 2022-11-08 | by ( Jane Lanhee Lee | ) www.reuters.com time to read: +3 min

OAKLAND, Calif., Nov 7 (Reuters) - U.S. chip maker Nvidia Corp (NVDA.O) said on Monday it is offering a new advanced chip in China that meets recent export control rules aimed at keeping cutting-edge technology out of China's hands. In late August, Nvidia and Advanced Micro Devices Inc AMD.O both said that their advanced chips, including Nvidia's data center chip A100, were added to the export control list by the Commerce Department. The Nvidia A800 can be used in place of the A100, and both are GPUs, or graphics processing units. "The Nvidia A800 GPU, which went into production in Q3, is another alternative product to the Nvidia A100 GPU for customers in China. At least two Chinese websites by major server makers offer the A800 chip in their products.

☆ Exclusive: Nvidia offers new advanced chip for China that meets U.S. export controls
▼ + stars: | 2022-11-08 | by ( Jane Lanhee Lee | ) www.reuters.com time to read: +3 min

OAKLAND, Calif., Nov 7 (Reuters) - U.S. chip maker Nvidia Corp (NVDA.O) is offering a new advanced chip in China that meets recent export control rules aimed at keeping cutting-edge technology out of China's hands, the company confirmed on Monday. In late August, Nvidia and Advanced Micro Devices Inc AMD.O both said that their advanced chips, including Nvidia's data center chip A100, were added to the export control list by the U.S. Commerce Department. The Nvidia A800 can be used in place of the A100 and both are GPUs, or graphics processing units. "The Nvidia A800 GPU, which went into production in Q3, is another alternative product to the Nvidia A100 GPU for customers in China. At least two Chinese websites by major server makers offer the A800 chip in their products.

Nonpartisan forecasters and opinion polls suggested a strong chance of Republicans winning a House majority and a tight race for Senate control. Shares in healthcare, energy and defense sectors could see more volatility in the wake of the election. "A Republican victory is seen as removing either current regulations, like in the energy sector, or potential future regulations like in the pharmaceutical sector." The S&P 500 (.SPX) is up nearly 9% from its recent October lows, but has still posted steep losses this year on worries that aggressive monetary policy tightening would tip the U.S. economy into a recession. Among S&P 500 sectors, energy (.SPNY) and consumer discretionary (.SPLRCD) fell the most, down 1% and 0.5%, respectively.

☆ Cramer's lightning round: I'm sticking with Nvidia
▼ + stars: | 2022-11-03 | by ( Krystal Hur | ) www.cnbc.com time to read: +1 min

I think a year from now, the stock's going to be higher, and I'm sticking with Nvidia." Loading chart...Actinium Pharmaceuticals Inc : "I don't like hyping phase 1, but I do think they have some interesting formulations." I don't recommend stocks that are losing money." Loading chart...SoFi Technologies Inc : "I'm willing to back [CEO Anthony Noto] right here, right now." Disclaimer: Cramer's Charitable Trust owns shares of Nvidia.

☆ AI chip startup SiMa.ai launches auto business with former Bosch, Mercedes executive
▼ + stars: | 2022-11-03 | by ( Jane Lanhee Lee | ) www.reuters.com time to read: +2 min

OAKLAND, Calif., Nov 3 (Reuters) - Silicon Valley-based AI chip startup SiMa.ai on Thursday said it is entering the automotive industry and has recruited Harald Kroeger, a former executive at top tier auto supplier Bosch and Mercedes Benz (MBGn.DE), to lead that business. Kroeger, who is on the board of electric pickup truck firm Rivian (RIVN.O), will join SiMa.ai’s board, which includes top chip industry executives Moshe Gavrielov, a Taiwan Semiconductor Manufacturing Co. (2330.TW) board member, and Lip‑Bu Tan, an Intel (INTC.O) board member. The announcement comes as chip makers' competition in the automotive industry intensifies with Nvidia Corp (NVDA.O), Qualcomm Inc (QCOM.O), and Intel’s recently listed Mobileye (MBLY.O) all vying for car makers. SiMa.ai’s main product called MLSoC, short for machine learning system on chip, processes video and images, an important technology for assisted and self-driving technology. "I was on the knife's edge," said Krishna Rangasayee, CEO of SiMa.ai about the decision to enter the automotive market which he noted can take years to generate revenue from.

☆ AMD shares rise as chipmaker sees data center strength cushioning PC slowdown
▼ + stars: | 2022-11-02 | by ( ) www.reuters.com time to read: +2 min

"We expect AMD's share gains to continue, as the company's upcoming, next-generation server CPUs are expected to outperform Intel’s lineup across price/performance metrics," YipitData analyst Nathaniel Harmon said. Reuters GraphicsThe PC industry, reeling from a downturn after its pandemic boom, pressured AMD's earnings and the company also lost market share there to Intel. A recovery in the business seems distant, with Chief Executive Lisa Su saying that AMD expects the PC market will decline by another 10% in 2023. Some analysts, however, said the company was undershipping products even in a weak market and could see some upside next year. Reporting by Akash Sriram and Chavi Mehta in Bengaluru; Editing by Maju SamuelOur Standards: The Thomson Reuters Trust Principles.

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