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[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

The executives plan to hold meetings with U.S. officials to talk about market conditions, export controls and other matters affecting their businesses, one of the sources said. Intel and Qualcomm declined to comment, and officials at the White House did not immediately return a request for comment. The sources said other semiconductor CEOs may also be in Washington next week. The chip industry has been warmly received in Washington in recent years as lawmakers and the White House work to shift more production to the U.S. and its allies, and away from China. Many U.S. chip firms get more than one-fifth of their revenue from China, and industry executives have argued that reducing those sales would cut into profits that they reinvest into research and development.

Persons: Arnd, Biden, Pat Gelsinger, Cristiano Amon, Andrea Shalal, Stephen Nellis, Karen Freifeld, Chris Sanders, Edmund Klamann Organizations: Intel Corporation, REUTERS, Intel Corp, Qualcomm Inc, Intel, Qualcomm, White, Huawei Technologies Co, Reuters, Huawei, Nvidia, Nvidia Corp, Thomson Locations: Davos, Switzerland, Washington, China, U.S, Beijing, Many U.S, San Francisco, New York

☆ Teen hacked Uber, Revolut and Grand Theft Auto maker, London court hears
▼ + stars: | 2023-07-11 | by ( Sam Tobin | ) www.reuters.com time to read: +2 min

REUTERS/Arnd Wiegmann/File PhotoLONDON, July 11 (Reuters) - A teenage member of the Lapsus$ hacking group hacked Uber (UBER.N) and fintech firm Revolut then blackmailed the developers of best-selling videogame Grand Theft Auto, prosecutors have told a London court. Arion Kurtaj, 18, is said to have targeted Revolut and Uber in September 2022, accessing around 5,000 Revolut customers' information and causing nearly $3 million of damage to Uber. Prosecutors allege he hacked Rockstar Games days later and threatened to release the planned Grand Theft Auto sequel's source code in a Slack message sent to all Rockstar staff. Kurtaj later embarked on a solo cyber crime spree, Barry said, first targeting Revolut then Uber two days later before hacking Rockstar Games. He has previously pleaded guilty to two offences under the Computer Misuse Act and one count of fraud.

Persons: Arnd, Revolut, Arion Kurtaj, Uber, Kevin Barry, Kurtaj, Barry, Sam Tobin, Nick Macfie Organizations: Economic, REUTERS, Auto, Prosecutors, Rockstar, BT Group, Nvidia Corp, London's, BT, EE, Computer, Nvidia, Thomson Locations: Davos, Switzerland, London, Lapsus, London's Southwark

☆ Apple makes history as first $3 trillion company amid tech stock surge
▼ + stars: | 2023-07-03 | by ( ) www.reuters.com time to read: +2 min

The iPhone maker's advance was among the most eye catching in a month marked by investor interest in the potential of artificial intelligence, with share buyers also particularly favouring companies with strong balance sheets and cash flows. In a similar vein, electric car maker Tesla Inc (TSLA.O) witnessed a 28% jump in its market capitalization in June. The company's shares have soared following a revenue forecast that was more than 50% above the Wall Street estimate in May. Apple and Microsoft Corp (MSFT.O) led the list of top 20 global companies by market capitalization at the end of June. By contrast, Alphabet Inc's (GOOGL.O) market cap dropped 2.3% last month to $1.53 trillion, on rising competitive pressures from Microsoft's Bing which has grown in prominence after the integration of the artificial intelligence behind ChatGPT.

Persons: Bing, Patturaja Murugaboopathy, Gaurav Dogra, David Holmes Organizations: Apple Inc, Federal Reserve, Tesla Inc, Reuters Graphics, Ford Motor, General Motors Co, Nvidia Corp, Apple, Microsoft Corp, Reuters, Thomson Locations: Bengaluru

June 30 (Reuters) - Apple Inc's (AAPL.O) stock market value ended a trading session above $3 trillion for the first time on Friday, lifted by signs of improving inflation and bets that the iPhone maker will successfully expand into new markets. Shares of the world's most valuable company jumped 2.3% to $193.97, giving it a market capitalization of $3.05 trillion, Refinitiv data showed. Reuters Graphics Reuters GraphicsThe Cupertino, California company's market capitalization briefly peaked above $3 trillion in intraday trading on Jan. 3, 2022 before closing the session just below that mark. Apple's $3 trillion milestone follows the June 5 launch of a pricey augmented-reality headset, its riskiest bet since the introduction of the iPhone more than a decade ago. Four other U.S. companies have valuations of more than $1 trillion - Alphabet Inc (GOOGL.O), Amazon.com Inc (AMZN.O), Nvidia and Microsoft Corp (MSFT.O), which follows Apple with a market value of $2.5 trillion.

Persons: Hogan, Riley, Tiyashi Datta, Noel Randewich, Anil D'Silva, Richard Chang Organizations: Apple, Reuters Graphics Reuters, Nvidia Corp, Tesla Inc, Commerce Department, Amazon.com Inc, Nvidia, Microsoft Corp, Tesla, Inc, Thomson Locations: Cupertino , California, Apple's, Bengaluru, Oakland, Calif

☆ Apple's market value breaches $3 trillion mark again
▼ + stars: | 2023-06-30 | by ( Tiyashi Datta | ) www.reuters.com time to read: +2 min

Shares of Apple, which is also the world's most valuable- listed company, were up 1.6% at $192.6, after touching a record high of $193.15 during the day. They have jumped nearly 46% this year and, at the current price, the company's market value stands at around $3.02 trillion. Apple's market value briefly peaked at above $3 trillion in intra-day trading on Jan. 3, 2022, before closing the session just below that mark. Apple's 12-month forward price-to-earnings multiple (P/E), a common benchmark for valuing stocks, is 29.49, well above the sector median of 13.14, according to Refinitiv data. Currently, four other U.S. companies have a valuation of more than $1 trillion - Alphabet Inc (GOOGL.O), Amazon.com Inc (AMZN.O), Nvidia Corp (NVDA.O) and Microsoft Corp (MSFT.O), which is a close second with a market value of $2.49 trillion.

Persons: Atif Malik, Microsoft's, Tiyashi Datta, Anil D'Silva Organizations: Apple, Citigroup, Federal, Amazon.com Inc, Nvidia Corp, Microsoft Corp, Tesla, Nvidia, Reuters, Thomson Locations: Bengaluru

☆ AMD's AI chips could match Nvidia's offerings, software firm says
▼ + stars: | 2023-06-30 | by ( Stephen Nellis | ) www.reuters.com time to read: +3 min

June 30 (Reuters) - Artificial intelligence chips from Advanced Micro Devices (AMD.O) are about 80% as fast as those from Nvidia Corp (NVDA.O), with a future path to matching their performance, according a Friday report by an AI software firm. Nvidia dominates the market for the powerful chips that are used to create ChatGPT and other AI services that have swept through the technology industry in recent months. That prompted MosaicML, an AI startup acquired for $1.3 billion earlier this week, to conduct a test comparing between AI chips from AMD and Nvidia. Tang said that MosaicML used its tools, the PyTorch and AMD software to train a large language model without having to make any changes to its code base. If developers can find AMD's chips at the right price, "you can already switch to these today they're essentially interchangeable" with Nvidia chips, Tang said.

Persons: MosaicML, Hanlin Tang, Tang, OpenAI, Stephen Nellis, Aurora Ellis Organizations: Micro Devices, Nvidia Corp, Nvidia, AMD, MosaicML, Meta, Thomson Locations: San Francisco

☆ Six questions facing US stock investors as 2023's second half nears
▼ + stars: | 2023-06-29 | by ( Lewis Krauskopf | ) www.reuters.com time to read: +5 min

With two days left in the first half, the S&P 500 (.SPX) is up 14% in 2023 - a rebound that surprised many analysts after equities’ brutal 2022 decline. If history is a guide, stocks’ strong start may give them a tailwind in the second half. Here are six key questions investors are posing as they assess the market's prospects:WHERE’S THAT RECESSION? While the S&P 500 has gained 14% this year, the equal-weight version of the index -- a proxy for the average stock -- has gained just 4.2%. The S&P 500 tech sector (.SPLRCT) now trades at 27 times forward earnings, according to Refinitiv Datastream.

Persons: Sam Stovall, Refinitiv, Lewis Krauskopf, Ira Iosebashvili, David Gregorio Our Organizations: YORK, Nasdaq, New York Federal Reserve, Treasury, UBS, CAN, Apple Inc, Nvidia Corp, HSBC, Reuters Graphics, Advisory Services, Reuters, Thomson Locations: U.S, Silicon

☆ TSMC sending more workers to speed up building of new Arizona plant
▼ + stars: | 2023-06-29 | by ( ) www.reuters.com time to read: +2 min

[1/2] U.S. President Joe Biden speaks with Chairman of TSMC Mark Liu during a visit to TSMC AZ's first Fab (Semiconductor Fabrication Plant) in P1A (Phase 1A), in Phoenix, Arizona, U.S. December 6, 2022. The first Arizona chip fabrication facility, or fab, is scheduled to be operational by 2024. TSMC did not disclose how many workers from Taiwan are currently in Arizona. The additions will not impact the 12,000 workers currently on-site every day or U.S.-based hiring, it added. While TSMC has said the bulk of its manufacturing, especially of the most advanced chips, will remain in Taiwan, it is also building a plant in Japan and considering another one in Germany.

Persons: Joe Biden, Mark Liu, TSMC, Jonathan Ernst, Biden, Ben Blanchard, Edwina Gibbs Organizations: REUTERS, Taiwan Semiconductor Manufacturing Co, Apple Inc, Nvidia Corp, TSMC's, Thomson Locations: P1A, Phoenix , Arizona, U.S, TAIPEI, Taiwan, ., Arizona, Japan, Germany, TSMC's Taipei

☆ Oracle spending 'billions' on Nvidia chips this year, Ellison says
▼ + stars: | 2023-06-28 | by ( Stephen Nellis | ) www.reuters.com time to read: +2 min

REUTERS/Mike Blake/File PhotoMENLO PARK, California, June 28 (Reuters) - Oracle Corp (ORCL.N) is spending "billions" of dollars on chips from Nvidia Corp (NVDA.O) as it expands a cloud computing service targeting a new wave of artificial intelligence (AI) companies, Oracle founder and Chairman Larry Ellison said on Wednesday. Oracle is also spending "billions" of dollars on Nvidia chips but even more on central processor units (CPUs) from Ampere Computing, a chip startup it has invested in, and Advanced Micro Device Inc (AMD.O), Ellison said at an Ampere event. "This year, Oracle will buy GPUs and CPUs from three companies," Ellison said. "We will buy GPUs from Nvidia, and we're buying billions of dollars of those. Other companies such as CoreWeave, which earlier this year raised a fresh $200 million of funding, are also targeting AI companies with cloud hardware that relies heavily on Nvidia chips.

Persons: Mike Blake, Larry Ellison, Ellison, Oracle, Stephen Nellis, Richard Chang Organizations: REUTERS, MENLO, Oracle Corp, Nvidia Corp, Oracle, Amazon Web Services, Microsoft Corp, Ampere Computing, Device, Nvidia, Ampere, AMD, Google, Thomson Locations: Los Angeles , California, U.S, , California, Menlo Park , California

The Wall Street Journal on Tuesday reported that the Biden administration was considering new restrictions on exporting AI chips to China. The possible rule tightening would hardest hit Nvidia, whose strong position in the AI chip market helped make it worth $1 trillion earlier this year. The current rule around AI chips involves two restrictions. One restriction focuses on how fast chips can communicate with each other, which is important because AI systems such as ChatGPT require thousands of chips to be chained together. The other restriction focuses on how much computing power the chip can have.

Persons: Florence Lo, Biden, Colette Kress, Nvidia's Kress, Stephen Nellis, Karen Freifeld, Kenneth Li, Chris Sanders, Nick Zieminski Organizations: REUTERS, U.S . Commerce, Nvidia, Nvidia Corp, Devices Inc, Intel Corp, Reuters, Tencent Holdings, Intel, AMD, Thomson Locations: of China, U.S, China, HK, San Francisco, New York

☆ Chinese A.I. stocks fall as U.S. reportedly weighs curbs on chip exports
▼ + stars: | 2023-06-28 | by ( Sheila Chiang | ) www.cnbc.com time to read: +1 min

A Nvidia Corp. HGX H100 artificial intelligence supercomputing graphics processing unit (GPU) at the showroom of the company's offices in Taipei, Taiwan, on Friday, June 2, 2023. China's artificial intelligence stocks fell Wednesday after the Wall Street Journal reported that the U.S. is planning to impose new curbs on shipments of AI chips to China. According to the Journal, U.S. chip makers such as Nvidia will be affected by the move which could happen as early as July. China's CSI artificial intelligence index fell 3% on that news on Wednesday in Asia. The Shenzhen-traded shares of Inspur Electronic Information Industry slumped 10% and Chengdu Information Technology of Chinese Academy of Sciences dropped nearly 8%.

Persons: OpenAI's ChatGPT, Bard chatbots, — Organizations: Nvidia Corp, Wall Street Journal, Journal, Nvidia, CSI, Industry, Chengdu Information Technology, Chinese Academy of Sciences Locations: Taipei, Taiwan, China, Asia, Shenzhen, Chengdu, Hong Kong, U.S

June 27 (Reuters) - U.S. stock indexes rebounded on Tuesday from a recent losing streak as upbeat economic data soothed investor worries about an imminent recession triggered by the Federal Reserve's aggressive interest rate hikes. While the economic data was encouraging, Rhys Williams, chief strategist at Spouting Rock Asset Management, said the market also rose on seasonal factors. "You'd a bad week in the stock market last week and a bad day on Monday. According to preliminary data, the S&P 500 (.SPX) gained 49.25 points, or 1.14%, to end at 4,378.07 points, while the Nasdaq Composite (.IXIC) gained 219.71 points, or 1.65%, to 13,555.49. Signs of U.S. economic resilience also boosted the Dow Transports index (.DJT) and small-cap Russell 2000 index (.RUT).

Persons: Rhys Williams, It's, Williams, Russell, Jerome Powell's, hawkish, Dow, Sinéad Carew, Sruthi Shankar, Johann M, Terence Gabriel, Shinjini Ganguli, Richard Chang Organizations: Federal, Management, Dow, Nasdaq, Dow Jones, Dow Transports, Traders, bps, European Central Bank, Microsoft Corp, Apple Inc, Amazon.com Inc, Tesla Inc, Nvidia Corp, Inc, Citigroup, Nvidia, Walgreens Boots Alliance, CVS Health Corp, Rite Aid Corp, Lordstown Motors Corp, U.S, Thomson Locations: Sintra , Portugal, U.S, New York, Bengaluru

☆ Wall Street extends sell-off as Powell hints at further rate hikes
▼ + stars: | 2023-06-21 | by ( Stephen Culp | ) www.reuters.com time to read: +3 min

All three major U.S. stock indexes notched their third straight daily declines, with megacap tech- and tech-related shares weighing most. Tesla Inc (TSLA.O), along AI-related stocks such as Microsoft Corp (MSFT.O) and Nvidia Corp (NVDA.O) were the heaviest drags. "There could be one more rate hike, but I don’t think anyone's buying the fact that there will be two. "A big portion of today’s weakness is because Tesla had one of its worst days in a while," Detrick added. "After a record win streak some kind of weakness is perfectly acceptable and normal."

Persons: Tesla, Jerome, Ryan Detrick, Powell, Detrick, Stephen Culp, Shubham Batra, Johann M Cherian, Ankika Biswas, Aurora Ellis Organizations: FedEx, Barclays, NEW, Federal, Carson Group, Tesla, Microsoft Corp, Nvidia Corp, . House Financial Services, Nasdaq, Dow Jones, Tesla Inc, United Parcel Service Inc, Thomson Locations: Omaha, Bengaluru

☆ Microsoft, Activision CEOs on witness list for hearing on FTC bid to block merger
▼ + stars: | 2023-06-20 | by ( David Shepardson | ) www.reuters.com time to read: +2 min

The FTC is seeking a preliminary injunction to block Microsoft from completing its $69 billion acquisition of Activision Blizzard. The FTC has argued the transaction would give Microsoft's video game console Xbox exclusive access to Activision games, leaving Nintendo (7974.T) consoles and Sony Group Corp's (6758.T) PlayStation out in the cold. Microsoft's bid to acquire the "Call of Duty" video game maker was approved by the EU in May, but British competition authorities blocked the takeover in April. The FTC is calling Nadella to testify about the video game industry, Microsoft Gaming’s strategy and business and the planned Activision acquisition, while Microsoft is calling him to testify about similar topics. Also testifying are two executives from Nvidia Corp.Microsoft Chief Financial Officer Amy Hood, Microsoft Gaming CEO Phil Spencer and Microsoft Gaming CFO Tim Stuart are also scheduled to testify, as are a number of expert witnesses.

Persons: Satya Nadella, Bobby Kotick, Nadella, James Ryan, Dov Zimring, Amy Hood, Phil Spencer, Tim Stuart, David Shepardson, Chris Reese Organizations: Microsoft, Activision Blizzard, Federal Trade, FTC, Activision, Nintendo, Sony Group, EU, Sony Interactive Entertainment, Google, Nvidia Corp, Thomson

A 1.7% decline in Microsoft Corp (MSFT.O) and a 1.3% dip in Amazon.com Inc (AMZN.O) weighed on the S&P 500 and the Nasdaq. S&P 500 fell 0.36% to end the session at 4,409.77 points. Of the 11 S&P 500 sector indexes, eight declined, led by communication services (.SPLRCL), down 1%, followed by a 0.83% loss in information technology (.SPLRCT). Declining stocks outnumbered rising ones within the S&P 500 (.AD.SPX) by a 1.4-to-one ratio. The S&P 500 posted 24 new highs and no new lows; the Nasdaq recorded 112 new highs and 67 new lows.

Persons: Christopher Waller, Thomas Barkin, Sam Stovall, Morgan Stanley, Sruthi Shankar, Shristi, Noel Randewich, Vinay Dwivedi, Richard Chang Organizations: Microsoft, Nasdaq Adobe, Nasdaq, Dow, Federal, Richmond Fed, CFRA, University of Michigan's, Microsoft Corp, Inc, Nvidia Corp, Dow Jones, Nvidia, Adobe Inc, iRobot Corp, Micron Technology, Thomson Locations: U.S, Bengaluru, Oakland , California

☆ Exclusive: Amazon's cloud unit is considering AMD's new AI chips
▼ + stars: | 2023-06-14 | by ( Stephen Nellis | ) www.reuters.com time to read: +2 min

The remarks came during an AMD event where the chip company outlined its strategy for the AI market, which is dominated by rival Nvidia Corp (NVDA.O). While AWS has not made any public commitments to use AMD's new MI300 chips in its cloud services, Dave Brown, vice president of elastic compute cloud at Amazon, said AWS is considering them. Nvidia does sell its chips piecemeal but is also asking cloud providers if they are willing to offer an entire system designed by Nvidia in a product called DGX Cloud. Brown said AWS had declined to work with Nvidia on the DGX Cloud offering. AWS started selling Nvidia's H100 chip in March, but as part of systems of its own design.

Persons: Nvidia's, Lisa Su, Su, Dave Brown, We're, Brown, Stephen Nellis, Kim Coghill Organizations: FRANCISCO, Web Services, Devices Inc, Reuters, Nvidia Corp, AMD, AWS, Nvidia, Oracle Corp, Thomson Locations: San Francisco

She spoke following a keynote presentation in San Francisco during which Su showed an AI system on the MI300X chip writing a poem about the city. "The more memory that you have, the larger the set of models" the chip can handle, Su said. But unlike past presentations where AMD has talked up a major customer for a new chip, AMD did not say who will adopt the MI300X or a smaller version called the MI300A. Nvidia, whose shares have surged 170% so far this year, dominates the AI computing market with a market share of 80% to 95%, according to analysts. Aside from the AI market, AMD said it has started shipping high volumes of a general purpose central processor chip called "Bergamo" to companies such as Meta Platforms (META.O).

Persons: Lisa Su, Dave Brown, Stephen Nellis, Su, We've, Kevin Krewell, Alexis Black Bjorlin, Nvidia's, Chintala, Sag, Leslie Adler, David Gregorio, Nick Zieminski, Mark Porter Organizations: AMD, Amazon Web, REUTERS, Devices Inc, Nvidia Corp, Reuters, Nvidia, TIRIAS Research, Intel Corp, Systems, SambaNova Systems, Google, Facebook, Nvidia's, Meta, Moor, Thomson Locations: San Francisco , U.S, Santa Clara , California, San Francisco, Bergamo

☆ AMD says Meta is using its cloud chip as it rolls out AI strategy update
▼ + stars: | 2023-06-13 | by ( Stephen Nellis | ) www.reuters.com time to read: +3 min

Chief Executive Lisa Su said AMD has started shipping its "Bergamo" central processor. They spoke at an event in San Francisco where AMD was set to introduce its new artificial intelligence chip. Nvidia dominates the AI computing market with 80% to 95% of market share, according to analysts. Last month, Nvidia's market capitalization briefly touched $1 trillion after the company said it expected a jump in revenue after it secured new chip supplies to meet surging demand. Kevin Krewell, principal analyst at TIRIAS Research, said AMD will have to catch up on both software and research trends.

Persons: Lisa Su, Dave Brown, Stephen Nellis, Alexis Black Bjorlin, Su, Kevin Krewell, Krewell, Leslie Adler, David Gregorio, Nick Zieminski Organizations: AMD, Amazon Web, REUTERS, Devices, Facebook, Nvidia Corp, Nvidia, Intel Corp, Systems, SambaNova Systems, Google, TIRIAS Research, Thomson Locations: San Francisco , U.S, Bergamo, San Francisco

☆ Tech stocks lead European shares higher ahead of Fed rate decision
▼ + stars: | 2023-06-13 | by ( ) www.reuters.com time to read: +1 min

June 13 (Reuters) - European shares opened higher on Tuesday led by the gains in technology stocks, amid growing optimism that the U.S. Federal Reserve would skip raising interest rates in its policy meeting. The pan-European STOXX 600 index (.STOXX) rose 0.5% as of 0715 GMT, with the rate-sensitive tech sector index (.SX8P) up 1.5%. Embracer (EMBRACb.ST) jumped 5.2% to the top of the STOXX 600, after the Swedish games group announced a restructuring programme to slash costs and investments, including in the development of new products. Swedish industrial technology group Hexagon's (HEXAb.ST) shares gained 4.3%, after it announced a collaboration with the world's most valuable chip firm Nvidia Corp (NVDA.O). Reporting by Shreyashi Sanyal in Bengaluru; Editing by Rashmi AichOur Standards: The Thomson Reuters Trust Principles.

Persons: Shreyashi Sanyal, Rashmi Organizations: U.S . Federal, Nvidia Corp, Thomson Locations: Swedish, Bengaluru

OAKLAND, California, June 13(Reuters) - Silicon Valley-based AI chip startup SiMa.ai on Tuesday said it raised an additional $13 million from investors including a key fund in Taiwan called VentureTech Alliance, which has a strong strategic partnership with Taiwan Semiconductor Manufacturing Co (2330.TW). This is at least the third investment in U.S. chip startups by VentureTech Alliance in the past month. British AI chip unicorn Graphcore's struggles have been widely reported. Rangasayee also pointed to one recent benchmark testing result by SiMa.ai that beat AI chip giant Nvidia Corp (NVDA.O) in performance and power of chips used on devices like cameras, drones and robots. The testing data is published by MLCommons, an engineering consortium that maintains testing benchmarks widely used in the AI chip industry.

Persons: VentureTech, Ethernovia, SiMa.ai, Navin Chaddha, Mayfield, Chaddha, they're, Moshe Gavrielov, Krishna Rangasayee, MLCommons, it's, David, Goliath, Jane Lanhee Lee, Lisa Shumaker Organizations: VentureTech, Taiwan Semiconductor Manufacturing, VentureTech Alliance, Ayar Labs, Nvidia Corp, Nvidia, Thomson Locations: OAKLAND, California, Taiwan, British

☆ AMD likely to offer details on AI chip in challenge to Nvidia
▼ + stars: | 2023-06-13 | by ( Stephen Nellis | ) www.reuters.com time to read: +2 min

AMD Chief Executive Lisa Su will give a keynote address at an event in San Francisco on the company's strategy in the data center and AI markets. Analysts expect fresh details about a chip called the MI300, AMD's most advanced graphics processing unit (GPU), the category of chips that companies like OpenAI use to develop products such as ChatGPT. Nvidia dominates the AI computing market with 80% to 95% of market share, according to analysts. Last month, Nvidia's market capitalization briefly touched $1 trillion after the company said it expected a jump in revenue after it secured new chip supplies to meet surging demand. Kevin Krewell, principal analyst at TIRIAS Research, said AMD will have to catch up on both software and research trends.

Persons: Lisa Su, Su, Kevin Krewell, Krewell, Stephen Nellis, Leslie Adler Organizations: Devices, Nvidia Corp, AMD, Nvidia, Intel Corp, Systems, SambaNova Systems, Google, TIRIAS Research, Thomson Locations: San Francisco

The benchmark S&P 500 (.SPX) built on Thursday's 20% rise from its Oct. 12 finishing low, heralding the start of a new bull market as defined by some market participants. The S&P 500 (.SPX) gained 4.93 points, or 0.11%, at 4,298.86, taking this week's advance to 0.38% and extending its winning streak to four weeks, the longest since the July-August 2022 period. The Dow Jones Industrial Average (.DJI) rose 43.17 points, or 0.13%, to 33,876.78, for a weekly gain of 0.33%. Declining issues outnumbered advancing ones on the NYSE by a 1.49-to-1 ratio; on Nasdaq, a 1.84-to-1 ratio favored decliners. The S&P 500 posted 15 new 52-week highs and five new lows; the Nasdaq Composite recorded 84 new highs and 53 new lows.

Persons: Dow Jones, Tim Holland, Brendan McDermid, Rick Meckler, Wells, Sruthi Shankar, Shristi, Vinay Dwivedi, Richard Chang Organizations: Adobe, Citi, Nasdaq, Tesla Inc, General Motors Co, GM, Orion, Dow Jones, Apple Inc, Devices, Nvidia Corp, NYSE, American Stock Exchange, New York Stock Exchange, REUTERS, Brendan McDermid Traders, Cherry Lane Investments, Target Corp, Adobe Inc, Netflix Inc, Thomson Locations: Wells Fargo, New York City, U.S, Bengaluru

☆ Wall Street Week Ahead: Investors rethink recession plays, boosting U.S. stock market laggards
▼ + stars: | 2023-06-09 | by ( David Randall | ) www.reuters.com time to read: +5 min

"There's reason to believe that the pessimism we saw at the start of the year is giving way to a stronger-than-expected market." Murray has increased his allocation to small-cap stocks, which tend to be among the most direct beneficiaries of economic growth. Other rebounding segments in June include the S&P 500 energy sector, which has gained 6% this month and S&P 500 industrials, up 5.7%. Ten of the 11 S&P 500 sectors are firmer for the month to date, compared to only six for the year. Stronger-than-expected jobs growth and robust consumer spending have been among the data points that have bolstered investors' economic outlook.

Persons: Tim Murray, T Rowe Price's, Murray, Russell, Dow, Howard Silverblatt, Goldman Sachs, Saira Malik, Max Wasserman, David Randall, Saqib Iqbal Ahmed, Lewis Krauskopf, Ira Iosebashvili, Richard Chang Organizations: YORK, Energy, Reuters, Apple Inc, Microsoft Corp, Inc, Amazon.com Inc, Nvidia Corp, Tesla Inc, Dow Jones, Capital Economics, Miramar Capital, Starbucks Corp, Target Corp, Thomson Locations: U.S

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