DIRS.INFO The most relevant business & tech news

☆ Nvidia's forecast lifts AI stocks and Nasdaq futures
▼ + stars: | 2023-08-23 | by ( Noel Randewich | ) www.reuters.com time to read: +2 min

S&P 500 E-Mini futures rose 0.5% and Nasdaq E-Mini futures climbed 0.9%, suggesting Wall Street is likely to open with gains on Thursday. Investors this week had anticipated Nvidia's results report as a potential spark to reignite gains in a sluggish U.S. stock market. Nvidia's forecast added to investor optimism. Big Tech and AI-related stocks saw their stock market values increase by over $70 billion, on top of Nvidia's increased value, as their shares climbed following the report. Nvidia forecast third-quarter revenue of about $16 billion, plus or minus 2%.

Persons: Ann Wang, Jacob Bourne, Noel Randewich, Chavi Mehta, David Gregorio, Bill Berkrot Organizations: REUTERS, Santa, Nasdaq, Nvidia, Intelligence, Big Tech, Microsoft, Google, Palantir Technologies, Devices, Broadcom, Marvell Technology, Micro, Refinitiv, Thomson Locations: Taipei, Taiwan, U.S, Santa Clara , California, Oakland, Calif, Bangalore

☆ Jim Cramer says this stock is ‘sitting on a gold mine’ because of its AI potential
▼ + stars: | 2023-08-22 | by ( Morgan Chittum | ) www.cnbc.com time to read: +1 min

Marvell Technology (MRVL) rose Tuesday after Goldman Sachs analysts listed the tech name as a long-term beneficiary of artificial intelligence adoption. CNBC's Jim Cramer echoed the Wall Street firm's sentiments, adding Marvell is "sitting on a gold mine" as its semiconductors and other equipment are essential to building out the nascent AI tech. Marvell used to be in the Trust. If you like this story, sign up for Jim Cramer's Top 10 Morning Thoughts on the Market email newsletter for free. The analysts at Goldman also think Club names like Nvidia (NVDA), Microsoft (MSFT), Salesforce (CRM) and Meta Platforms (META) will get a further boost from AI.

Persons: Goldman Sachs, CNBC's Jim Cramer, Marvell, Cramer, Jim Cramer's, Goldman, David Kostin Organizations: Marvell Technology, Marvell, CNBC, Trust, Club, Nvidia, Microsoft, Goldman's

☆ Cramer says AI hype is hurting this group of stocks that should benefit from recession worries
▼ + stars: | 2023-08-22 | by ( Kevin Stankiewicz | In Kevinstankiewicz | ) www.cnbc.com time to read: +2 min

The hype around artificial intelligence has crushed investor appetite for so-called recession stocks like Campbell Soup (CPB), CNBC's Jim Cramer said Tuesday. The broad-based S&P 500 index, for comparison, has climbed almost 15% in 2023, driven in large part by tech stocks. Cramer's Charitable Trust, the portfolio used for the CNBC Investing Club, owns six of the Magnificent Seven stocks. In addition Nvidia, Meta and Microsoft, the list includes Apple (AAPL), Alphabet (GOOGL) and Amazon (AMZN). "They just want AI and Magnificent Seven."

Persons: Campbell, CNBC's Jim Cramer, Cramer, Jim Cramer's Organizations: Nvidia, Microsoft, Consumer, Charitable Trust, CNBC, Club, Meta, Apple, Adobe, Marvell Technology, Broadcom

☆ Here are Monday's biggest analyst calls: Apple, Amazon, Nvidia, Disney, Salesforce, Palo Alto & more
▼ + stars: | 2023-08-21 | by ( Michael Bloom | ) www.cnbc.com time to read: +5 min

Goldman Sachs reiterates Palo Alto Networks as buy Goldman said it's standing by its buy rating on the stock following its earnings report on Friday evening. Citi reiterates Snowflake as buy Citi said it's sticking with its buy rating heading into earning later this week. Bank of America reiterates Amazon as buy Bank of America said Amazon continues to gain share. Bank of America reiterates Walmart as buy Bank of America said Walmart is better positioned in the current environment over Target. Bank of America reiterates Salesforce as buy Bank of America said Salesforce is the "next quality GARP stock."

Persons: Goldman Sachs, Goldman, Snowflake, Morgan Stanley, Jefferies, Read, Tim Hortons, Burger King, Patrick Doyle, Salesforce, Baird, it's, Raymond James, Marvell, Scott Mlyn Organizations: Credit Suisse, Disney, Networks, Citi, Taiwan Semiconductor, Bank of America, of America, China, Volkswagen, VW, JPMorgan, Brands, Restaurant Brands, " Bank of America, Walmart, Nvidia, Live Nation Entertainment, CNBC Locations: New York

☆ On tap next week: 2 housing reports and 2 Cub earnings releases. Here's what we're looking for
▼ + stars: | 2023-08-19 | by ( Zev Fima | ) www.cnbc.com time to read: +7 min

All three major U.S stock indices pulled back this week, as earnings season wound down and retail earnings painted a mixed picture of the state of the economy. Looking to next week, we'll be watching how shares of Club name Palo Alto Networks (PANW) open on Monday. With mortgage rates hitting the highest level in over two decades this week, affordability remains a major impediment for the housing market. Earnings : Club name Foot Locker (FL) reports quarterly results Wednesday before the opening bell, while Club holding Nvidia (NVDA) releases after the close that same day. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.

Persons: we'll, Locker, Mary Dillon, Lowe's, Jim Cramer's, Jim Cramer, Jim, Kelter Davis Organizations: Nasdaq, Dow Jones, TJX, Walmart, Federal Reserve, U.S, Palo Alto Networks, Palo, Club, Nvidia, Lufax, Baidu, Dick's Sporting, Coty, COTY, Urban Outfitters, Parts, Devices, Sonoma, Body, Abercrombie, Fitch, Autodesk, TD Bank, Royal Bank of Canada, Marvell Technology, Intuit, Nordstrom, Jim Cramer's Charitable, CNBC, Shoppers, Bloomberg, Getty Locations: U.S, China, Friday's, Williams, Burlington, Chicago , Illinois

☆ Here are Friday's biggest analyst calls: CVS, Hawaiian Electric, Peloton, Aflac and more
▼ + stars: | 2023-08-18 | by ( Alex Harring | ) www.cnbc.com time to read: +4 min

Here are Friday's biggest calls on Wall Street: Edward Jones downgrades CVS to hold from buy Edward Jones expressed concern over the company losing part of its Blue Shield of California pharmacy benefit manager contract. TD Cowen initiates Dynatrace at outperform TD Cowen said checks were strong and there's reasons to be excited about the tech company. TD Cowen initiates Datadog at outperform TD Cowen said the software company has strong management and ways to differentiate itself from competitors. Bank of America reiterates Peloton as buy Bank of America kept its bullish rating ahead of the fitness stock's earnings report. Morgan Stanley downgrades Aflac to equal weight from overweight Morgan Stanley said the insurance stock's strong earnings and capital have been hampered by challenges within sales and persistence.

Persons: Edward Jones, TD Cowen, Cowen, Wells, Wells Fargo, Morgan Stanley downgrades Aflac, Morgan Stanley, Riley, there's Organizations: CVS, JPMorgan, Bank of America, Barclays downgrades Keysight Technologies, Barclays, Citi, Materials, Riley Securities, Marvell Technology, MRVL Locations: California

☆ Buy this chip stock to ride a 'wave of AI-led growth,' according to B. Riley Securities
▼ + stars: | 2023-08-18 | by ( Samantha Subin | ) www.cnbc.com time to read: +1 min

Marvell Technology could win big in the next "wave of AI-led growth," according to B. Riley Securities. Analyst Craig Ellis upgraded shares to a buy from neutral rating as enterprise spending reaccelerates and inventory-related headwinds begin to ease. Shares of Marvell are up more than 55% this year as investors buy into the AI trade, and more gains could come. To be sure, some headwinds loom ahead in what B. Riley views as a "still-volatile market." This includes potentially weak server and storage spending within enterprise markets despite some signs of moderation, Ellis said.

Persons: Craig Ellis, Ellis, Riley, — CNBC's Michael Bloom Organizations: Marvell Technology, Riley Securities, Marvell

☆ Analysts are going gaga over Nvidia before its earnings next week
▼ + stars: | 2023-08-16 | by ( Samantha Subin | ) www.cnbc.com time to read: +3 min

Nearly three months after Nvidia shocked Wall Street with blowout earnings and forecast thanks to accelerating AI demand , analysts are still going crazy for the chipmaker. NVDA 3M mountain Nvidia shares over the last three months Curtis justified the run-up in shares this year, noting that more companies are allocating cloud capital expenditure budgets toward AI, and Nvidia shows no signs of a "clear competitor" in the field. Raymond James analyst Srini Pajjuri said that tight supply issues could limit the near-term upside for Nvidia but that the generative AI story remains intact. He also called the steep valuation justified given the Jensen Huang -led company's dominance in AI and machine learning. While Deutsche Bank's Ross Seymore anticipates another "stunning" report and more upside from AI, he retained his hold rating on Nvidia shares.

Persons: Blayne Curtis, Curtis, Piper, Harsh Kumar, Kumar, Raymond James, Srini Pajjuri, Jensen Huang, Pajjuri, Ross Seymore, — CNBC's Michael Bloom Organizations: Nvidia, Barclays, AMD, Deutsche Locations: China

☆ Here are the 9 smartest ways to invest in artificial intelligence right now, according to Bank of America, Morgan Stanley, and UBS
▼ + stars: | 2023-08-02 | by ( James Faris | ) www.businessinsider.com time to read: +7 min

Here's how Bank of America, Morgan Stanley, and UBS recommend investing in AI. Bank of America, Morgan Stanley, and UBS are more optimistic about AI stocks after each expressed hesitations earlier this year as shares of companies tied to the technology exploded higher. In contrast, Morgan Stanley has dismissed concerns that AI stocks are in a bubble. "Inevitably, the market will compare AI to the dot-com boom," wrote Morgan Stanley analyst Shawn Kim in a July report. As for chipmakers, Morgan Stanley agreed with Bank of America that the path forward is bifurcated.

Persons: Morgan Stanley, Marcelli, Art Cashin, Michael Hartnett, Shawn Kim, Mike Wilson, Morgan, Vivek Arya, Wilson Organizations: Wall, Bank of America, UBS, Americas, Nvidia, Marvell Technology, Broadcom, Cadence Design Systems, Bank of, Accenture, Microsoft, Taiwan Semiconductor Manufacturing Company, Consumer Locations: California, Snowflake, OpenAI

For the week, the Nasdaq climbed 2.02%, while the S&P rose 1.01%, and the Dow gained 0.66%. The gains gave the S&P 500 its highest close since April 4, 2022. Barclays said investors flocked to equities this week, with inflows of $10 billion to U.S.-listed stocks, according to a note to clients. Advancing issues outnumbered declining ones on the NYSE by a 2.64-to-1 ratio; on Nasdaq, a 2.81-to-1 ratio favored advancers. The S&P 500 posted 27 new 52-week highs and two new lows; the Nasdaq Composite recorded 83 new highs and 84 new lows.

Persons: Scott Ladner, Win Murray, Diamond Hill, Jerome Powell, Brendan McDermid, Peers, Dow, Jim Farley, Carolina Mandl, Kamdar, Johann M, Maju Samuel, Deepa Babington Organizations: Dow, Nasdaq, Big Tech, Federal Reserve, Horizon Investments, Dow Jones, Barclays, New York Stock Exchange, REUTERS, Peers Nvidia, Marvell Technology, Treasury, Bank of Japan, Procter & Gamble, Ford, Enphase Energy, Juniper Networks, Exxon Mobil, Chevron, Reata Pharmaceuticals, NYSE, Thomson Locations: China, U.S, New York City, New York, Bengaluru

U.S. annual inflation slowed considerably in June, likely pushing the Federal Reserve closer to ending its fastest interest rate hiking cycle since the 1980s, data showed on Friday. Barclays said investors flocked to equities this week, with inflows of $10 billion to U.S.-listed stocks, according to a note to clients. On the earnings front, Intel's (INTC.O) results and forecast pointed to an improving PC market, sending the chipmaker's shares up. The yield on the U.S. 10-year note slipped from 4% hit in the previous session, lifting megacap growth and technology stocks sharply higher. Reata Pharmaceuticals (RETA.O) surged after Biogen (BIIB.O) agreed to buy the rare disease drugmaker for nearly $6.5 billion.

Persons: Scott Ladner, Win Murray, Diamond Hill, Jerome Powell, Peers, Dow, Jim Farley, Carolina Mandl, Kamdar, Johann M, Maju Samuel, Deepa Babington Organizations: Horizon Investments, Federal Reserve, Nasdaq, Dow Jones, Barclays, Peers Nvidia, Marvell Technology, Treasury, Bank of Japan, Procter & Gamble, Ford, Enphase Energy, Juniper Networks, Exxon Mobil, Chevron, Reata Pharmaceuticals, Thomson Locations: China, U.S, New York, Bengaluru

U.S. annual inflation slowed considerably in June, likely pushing the Federal Reserve closer to ending its fastest interest rate hiking cycle since the 1980s. Most of the 11 major S&P 500 sectors posted gains, led by communications services (.SPLRCL), which gained 2.01% as big tech companies kept an upward trend after announcing earnings earlier this week. More than half of the firms listed on the S&P 500 have reported second quarter earnings as of Friday, out of which 78.7% have surpassed analyst expectations, according to Refinitiv data. Advancing issues outnumbered declining ones on the NYSE by a 2.31-to-1 ratio; on Nasdaq, a 2.62-to-1 ratio favored advancers. The S&P 500 posted 26 new 52-week highs and two new lows; the Nasdaq Composite recorded 73 new highs and 69 new lows.

Persons: Win Murray, Diamond Hill, Peers, Dow, Jim Farley, Bansari Mayur Kamdar, Johann M, Maju Samuel, Deepa Babington Organizations: Dow, Nasdaq, Federal Reserve, Peers Nvidia, Marvell Technology, Treasury, Bank of Japan, Big Tech, Dow Jones, Procter & Gamble, Ford, Enphase Energy, Juniper Networks, Exxon Mobil, Chevron, Reata Pharmaceuticals, NYSE, Thomson Locations: China, Bengaluru

Meta Platforms (META.O) gained 8.6% in premarket trading after it also reported a jump in second-quarter advertising revenue, topping Wall Street financial targets. Outsized gains in megacap growth stocks has helped Nasdaq (.IXIC) lead the charge on Wall Street so far this year, but Dow (.DJI) is catching up as investors bet on sectors beyond technology. ET, Dow e-minis were up 48 points, or 0.13%, S&P 500 e-minis were up 26 points, or 0.57%, and Nasdaq 100 e-minis were up 186 points, or 1.19%. Southwest Airlines (LUV.N) tumbled 6.9% after the airline warned of higher labor costs for the year and posted a dip in second-quarter profit. Reporting by Bansari Mayur Kamdar and Johann M Cherian in Bengaluru; Editing by Shinjini GanguliOur Standards: The Thomson Reuters Trust Principles.

Persons: FEDWATCH, Jerome Powell, Powell, David Mericle, Goldman Sachs, Bansari Mayur Kamdar, Johann M, Shinjini Organizations: Netflix, Microsoft, Dow, Nasdaq, Wall, U.S, U.S . Federal, Meta, Facebook, U.S . Federal Reserve, Commerce Department, Dow e, EBay, Nvidia, Micron, Marvell Technology, Lam Research, Citigroup, Bank of America, Southwest Airlines, Thomson Locations: U.S ., U.S, Wells Fargo, Bengaluru

☆ Marvell founders launch $2 bln chips foundry in Singapore
▼ + stars: | 2023-07-20 | by ( Fanny Potkin | ) www.reuters.com time to read: +1 min

[1/3] Silicon Box's chiplets are displayed during the opening of their advanced semiconductor manufacturing foundry in Singapore July 20, 2023. REUTERS/Edgar SuSINGAPORE, July 20 (Reuters) - Singapore-based Silicon Box opened a $2 billion advanced semiconductor manufacturing foundry in the city-state on Thursday, as it seeks to broaden adoption of "chiplet" technology. Silicon Box was created by the founders of U.S chipmaker Marvell (MRVL.O), Sehat Sutardja and wife Weili Dai, along with current CEO BJ Han. CEO Han told Reuters that "customers had been lining up" even before the factory's launch, with artificial intelligence firms driving demand. He said Silicon Box was in talks to supply Canadian AI startup company Tenstorrent.

Persons: Edgar Su SINGAPORE, Sehat Sutardja, Weili Dai, BJ Han, Han, Fanny Potkin, Sam Holmes Organizations: REUTERS, Singapore's Economic, U.S chipmaker Marvell, Reuters, Thomson Locations: Singapore

Bank of America (BAC.N) rose marginally in premarket trading after the lender posted a 20% surge in second-quarter profit, while Morgan Stanley's (MS.N) shares pared early gains after the bank's profit slipped 18%, hurt by a deal-making drought. The S&P 500 banks index (.SPXBK) has fallen 5.2% so far this year, underperforming the S&P 500 index (.SPX) which has notched a 17.8% gain after the biggest banking crisis since 2008 earlier this year took down three lenders and pummeled the sector. Overall earnings across industries are expected to decline 8.1% for the quarter, according to Refinitiv data. ET, Dow e-minis were down 18 points, or 0.05%, S&P 500 e-minis were down 3.75 points, or 0.08%, and Nasdaq 100 e-minis were down 26.25 points, or 0.17%. Pinterest (PINS.N) gained 3.3% as Evercore ISI upgraded its rating on the stock to "outperform" and Marvell Technology (MRVL.O) climbed 1.1% after Bank of America added the chipmaker to its U.S. No.1 list.

Persons: Morgan Stanley, Morgan Stanley's, Sam Stovall, Wells, Lockheed Martin, Bansari Mayur Kamdar, Johann M, Nivedita Bhattacharjee Organizations: Bank of America, Dow, Nasdaq, CFRA Research, JPMorgan Chase, Bank of New York Mellon, PNC Financial Services, Lockheed, Dow e, Federal Reserve, ISI, Marvell Technology, U.S, Thomson Locations: New York, Bengaluru

☆ Here are Tuesday's biggest analyst calls: Apple, Alphabet, Pinterest, Netflix, Amazon, Nvidia & more
▼ + stars: | 2023-07-18 | by ( Michael Bloom | ) www.cnbc.com time to read: +6 min

Here are Tuesday's biggest calls on Wall Street: Jefferies reiterates Apple as buy Jefferies said it's expecting a "quiet quarter" when the company reports earnings Aug. 3. Wells Fargo reiterates Netflix as overweight Wells said it's bullish heading into the company's earnings report Wednesday. Jefferies reiterates Alphabet as buy Jefferies said it's bullish heading into Alphabet earnings next week. Bank of America downgrades Lumentum to neutral from buy Bank of America called the stock an "overstated" AI beneficiary. JPMorgan reiterates Amazon as overweight JPMorgan said the e-commerce giant is its top pick heading into earnings. "

Persons: Jefferies, it's, Wells, Truist, Piper Sandler, Dave, Buster's, Piper, Bernstein, Goldman Sachs, Goldman, Max, Roth, Uber, Roth MKM, it's bullish, Morgan Stanley, Evercore, Marvell, Williams Deutsche, Sherwin Williams, JPMorgan Organizations: Apple, Netflix, Argus, Warner Brothers Discovery, Citi, Polaris Citi, 2Q, Bank of America, Nvidia, American Express, Digital, Marvell Technology Inc, Global, Inc, Deutsche Bank, Sherwin, JPMorgan Locations: capex

☆ Nasdaq leads Wall St to higher close as CPI report lifts sentiment
▼ + stars: | 2023-07-12 | by ( Caroline Valetkevitch | ) www.reuters.com time to read: +4 min

Shares of big tech-related companies, which tend to be sensitive to higher interest rates, gave the S&P 500 its biggest boost. The Labor Department report also showed the smallest monthly gain in underlying consumer prices since August 2021. The S&P 500 banks index (.SPXBK) was up 0.6%. Advancing issues outnumbered declining ones on the NYSE by a 3.23-to-1 ratio; on Nasdaq, a 1.93-to-1 ratio favored advancers. The S&P 500 posted 66 new 52-week highs and 2 new lows; the Nasdaq Composite recorded 129 new highs and 42 new lows.

Persons: Michael James, Quincy Krosby, Marvel, Janet Yellen's, Caroline Valetkevitch, Johann M Cherian, Shashwat Chauhan, Shinjini Ganguli, Nick Zieminski, David Gregorio Our Organizations: Nvidia, Broadcom, Dow, Nasdaq, Reserve, CPI, Wedbush Securities, Dow Jones, Labor Department, JPMorgan Chase, chipmaker Broadcom, VMware, Marvell Technology, Treasury, NYSE, Thomson Locations: Los Angeles, North Carolina, U.S, York, China, Beijing, Bengaluru

☆ Broadcom's $61 billion VMware deal wins conditional EU antitrust OK
▼ + stars: | 2023-07-12 | by ( Foo Yun Chee | ) www.reuters.com time to read: +1 min

BRUSSELS, July 12 (Reuters) - U.S. chipmaker Broadcom (AVGO.O) secured EU antitrust approval on Wednesday for its $61 billion proposed acquisition of cloud computing firm VMware (VMW.N) after offering remedies to help rival Marvell Technology (MRVL.O). The deal, Broadcom's largest ever, will help the chipmaker diversify into enterprise software. Broadcom offered Marvell and other rivals interoperability commitments related to its Fibre Channel Host-Bus Adapters (FC HBAs), a kind of storage adapters, the European Commission said, confirming a Reuters story last month. Marvell and other rivals will also have guaranteed access to the source code for all of Broadcom's current and future FC HBA drivers through an irrevocable open source license. "The commitments offered by Broadcom will enable its only rival Marvell, to continue competing on equal footing and ensure a similar protection for any future entrants," EU antitrust chief Margrethe Vestager said in a statement.

Persons: Marvell, Margrethe Vestager, Foo Yun Chee, Jason Neely Organizations: chipmaker Broadcom, VMware, Marvell Technology, Broadcom, Marvell, Fibre, HBAs, European Commission, Reuters, FC HBAs, FC HBA, U.S . Federal Trade Commission, European Union, Thomson Locations: BRUSSELS, Australia, Brazil, Canada, South Africa, Taiwan

☆ EU to green light Broadcom's VMware deal on Wednesday, source says
▼ + stars: | 2023-07-11 | by ( Foo Yun Chee | ) www.reuters.com time to read: +1 min

[1/2] A smartphone with a displayed Broadcom logo is placed on a computer motherboard in this illustration taken March 6, 2023. Broadcom is a leading supplier of FC HBAs, which are storage adapters that connect servers to storage located outside the server on a storage-area network using the fiber channel protocol. The VMware deal is Broadcom's largest-ever acquisition as it looks to diversify into enterprise software. The European Commission declined to comment. The U.S. Federal Trade Commission and the UK competition agency are also examining the deal.

Persons: Dado Ruvic, Foo Yun Chee, Mark Porter Organizations: Broadcom, REUTERS, chipmaker Broadcom, VMware, Reuters, HBAs, Marvell Technology, FC HBAs, European, U.S . Federal Trade Commission, Thomson Locations: BRUSSELS

☆ Morgan Stanley says we are entering a golden age of technology because of A.I. and gives some top stocks to play it
▼ + stars: | 2023-07-10 | by ( Samantha Subin | ) www.cnbc.com time to read: +4 min

Morgan Stanley offered up some of its top ways to play artificial intelligence as the technology enters a "golden age." But even after those significant surges, Morgan Stanley thinks the tailwinds are far from over. Given this setup, Morgan Stanley analysts highlighted 37 stocks as global AI winners with a combined market capitalization of $2.8 trillion. To compile the list, Morgan Stanley searched for areas of the tech supply chain situated for the strongest AI revenue exposure. Morgan Stanley expects the company's dominance to continue in the foreseeable future, calling it the "cleanest story" within AI hardware.

Persons: Morgan Stanley, — CNBC's Michael Bloom Organizations: Nvidia, Meta, Devices, Marvell Technology, Taiwan Semiconductor Manufacturing, U.S, Dell Technologies Locations: U.S, Taiwan, Korea, Europe

☆ S&P 500, Nasdaq futures down as chip stocks fall, focus on Powell
▼ + stars: | 2023-06-28 | by ( ) www.reuters.com time to read: +3 min

Semiconductor stocks including Intel (INTC.O), Marvell Technology (MRVL.O) and Qualcomm (QCOM.O) fell more than 1% each. Investors are focused on a panel discussion of key central bank policymakers including Powell and European Central Bank President Christine Lagarde at the ECB annual forum in Sintra, Portugal. The S&P 500 and Nasdaq hit more than one-year highs last week while the Dow scaled a six-month peak before hawkish comments from Powell sparked a selloff. Investors will also keep an eye on bank stocks, with the Fed scheduled to release 2023 results of its annual stress test of large banks after markets close on Wednesday. ET, Dow e-minis were up 20 points, or 0.06%, S&P 500 e-minis were down 4 points, or 0.09%, and Nasdaq 100 e-minis were down 36 points, or 0.24%.

Persons: Powell, Jerome Powell, Christine Lagarde, Russ Mould, AJ Bell, Dow, General Mills, Sruthi Shankar, Johann M, Vinay Dwivedi Organizations: Nasdaq, Dow, Federal, Nvidia, Devices, Wall Street Journal, Commerce Department, Semiconductor, Intel, Marvell Technology, Qualcomm, European Central Bank, ECB, Traders, Dow e, Boeing, Thomson Locations: China, U.S, Sintra , Portugal, Bengaluru

☆ Chip stocks smacked as U.S. mulls fresh curbs on AI access to China
▼ + stars: | 2023-06-28 | by ( ) www.reuters.com time to read: +2 min

Nvidia fell 4%, Advanced Micro Devices 3.3% and Intel 0.7%, while futures tracking the tech-heavy Nasdaq 100 index edged 0.5% lower. The new restrictions being considered by the Commerce Department would include a ban on the sale of Nvidia's advanced chip called A800 without a special U.S. export license. The Philadelphia chip index (.SOX) has surged more than 44% so far this year, far ahead of the benchmark index's (.SPX) 14% rise. Among other chip stocks, Marvell Technology (MRVL.O), Applied Materials (AMAT.O), Intel (INTC.O), Microchip Technology (MCHP.O) fell between 1.1% and 3% on Wednesday. Across the Atlantic, Nordic Semiconductor (NOD.OL), Dutch chipmaker ASML (ASML.AS), Milan-listed STMicroelectronics , however, gained between 1.2% and 2%.

Persons: chipmakers, Biden, Susannah Streeter, Hargreaves Lansdown, Medha Singh, Arun Koyyur Organizations: Companies, Nvidia, Devices, Intel, U.S ., Commerce Department, Wall Street, AMD, Marvell Technology, Materials, Technology, Nordic Semiconductor, Thomson Locations: China, U.S, Philadelphia, Milan, Bengaluru

☆ 3 stocks set to lead a booming AI networking market that will grow 5x to $10 billion by 2027, according to Bank of America
▼ + stars: | 2023-06-25 | by ( Laila Maidan | ) www.businessinsider.com time to read: +3 min

Bank of America says silicon-based chips are expected to grow to $10 billion by 2027InfiniBand (IB) and ethernet can both be used for AI computer networks. But Bank of America expects the global AI software market to reach $900 billion by 2026, up from just under $600 billion this year. But generative AI isn't like your average search engine. As big-tech cloud providers begin to integrate generative AI into their centers, the demand for things such as networking silicon is set to skyrocket. The investment bank expects ethernet to attract most of the $10 billion market share, growing from $500 million to $6 billion by 2027.

Persons: InfiniBand, Vivek Arya Organizations: of America, Nvidia, Broadcom, Marvell Technology, Nasdaq, Microsoft, Google, Bank of America, IB

☆ Cisco launches new AI networking chips to compete with Broadcom, Marvell
▼ + stars: | 2023-06-20 | by ( ) www.reuters.com time to read: +1 min

June 20 (Reuters) - Cisco Systems (CSCO.O) on Tuesday launched networking chips for AI supercomputers that would compete with offerings from Broadcom (AVGO.O) and Marvell Technology (MRVL.O). The chips are being tested by five of the six major cloud providers, Cisco said, without naming the firms. Cisco is a major supplier of networking equipment including ethernet switches, which connect devices such as computers, laptops, routers, servers and printers to a local area network. "G200 & G202 are going to be the most powerful networking chips in the market fueling AI/ML workloads enabling the most power-efficient network," Cisco fellow and formerly principal engineer Rakesh Chopra said. Cisco said the chips could help in carrying out AI and machine learning tasks with 40% fewer switches and a lesser lag, while being more power efficient.

Persons: Rakesh Chopra, Chavi Mehta, Stephen Nellis, Anil D'Silva Organizations: Cisco Systems, Broadcom, Marvell Technology, Cisco, Amazon Web Services, Microsoft, Google, Bofa Global Research, Thomson Locations: Bengaluru

☆ Cramer lists reasons to book some profits in this lofty market. 'You only need to get rich once'
▼ + stars: | 2023-06-11 | by ( Jim Cramer | ) www.cnbc.com time to read: +10 min

Unlike the ridiculous short squeezes that brought about GameStop 's (GME) meme-stock maina 2½ years ago, the current market is making some sense. That means by Wednesday's Club meeting, right ahead of the Fed rate announcement, we could have a backdrop suggesting that we deserve to broaden. Bottom line Until Wednesday's Club meeting you know my mindset. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio.

Persons: Lisa, Guy, It's, mutt Nvidia, Jerome Powell's, there's, Banks, Nvidia's, Fosforo, Jim Cramer's, Jim Cramer, Jim, Jim Cramer Rob Kim Organizations: CNBC, Club, Nvidia, GameStop, Apple, Microsoft, Federal, Fed, Web Services, Palo Alto Networks, Broadcom, Marvell, Baltic, Wednesday's Club, Wine, Jim Cramer's Charitable Locations: Long, China

Search resuls for: "MRVL"

25 mentions found