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☆ 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

A trial in the copyright infringement case had been set to begin on Monday. YouTube and Schneider agreed to end the case with prejudice, which means it cannot be refiled. YouTube denied the allegations and said it goes "above and beyond" to protect copyrights. In a win for YouTube, U.S. District Judge James Donato last month refused to certify the lawsuit as a class action. The case is Schneider v. YouTube LLC, U.S. District Court for the Northern District of California, No.

Persons: Maria Schneider, Schneider's, Schneider, District Judge James Donato, Joshua Schiller, Philip Korologos, Boies Schiller, George Zelcs, Stephen Tillery, David Kramer, Wilson Sonsini Goodrich, Rosati Read, Blake Brittain Organizations: YouTube, Schneider's San, District, Northern, Northern District of, Thomson Locations: Schneider's San Francisco, infringers, U.S, Northern District, Northern District of California, Washington

☆ EU regulators may demand Google to sell part of ad-tech business - source
▼ + stars: | 2023-06-12 | by ( Foo Yun Chee | ) www.reuters.com time to read: +2 min

June 12 (Reuters) - European Union antitrust regulators may order Alphabet Inc's (GOOGL.O) Google to sell a part of its advertising-technology business, a source with direct knowledge of the matter told Reuters on Monday. However, frustration has been mounting after Google failed to address competition concerns, the source said. The Commission and Google did not immediately respond to Reuters' requests for comment. Google is the most dominant digital advertising platform in the world with a 28% market share of global ad revenue, according to research firm Insider Intelligence. Google's dominance in online advertising has been increasingly questioned over the past few years.

Persons: Nilutpal Timsina, Akriti Sharma, Maju Samuel, Rashmi Organizations: Union, Google, Reuters, European Commission, Commission, Intelligence, United, Wall, Thomson Locations: United States

☆ 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

☆ AI startup Cohere raises $270 mln in Nvidia-backed funding round
▼ + stars: | 2023-06-08 | by ( ) www.reuters.com time to read: +1 min

June 8 (Reuters) - Cohere, an AI foundation model company that competes with Microsoft-backed OpenAI, said on Thursday it had raised $270 million in a funding round backed by Nvidia (NVDA.O), Oracle (ORCL.N) and Salesforce Ventures, among others. Generative AI aims to make human-like creations through computer code that has processed vast amounts of data. Cohere did not reveal its valuation after the latest funding round. AI startups are a bright spot in an otherwise subdued market for venture capital funding, particularly for technology companies, amid rising interest rates and increased investor focus on profitability. Last month, Anthropic, another AI startup which has received backing from Alphabet Inc's (GOOGL.O) Google, also raised $450 million in a new round.

Persons: Cohere, Aidan Gomez, Manya Saini, Shounak Dasgupta Organizations: Microsoft, Nvidia, Oracle, Salesforce Ventures, Inovia Capital, Schroders, Thomvest Ventures, ChatGPT, Google, Thomson Locations: Bengaluru

☆ YouTube 'reckless' to stop policing false claims on election fraud -Biden campaign
▼ + stars: | 2023-06-06 | by ( Trevor Hunnicutt | ) www.reuters.com time to read: +1 min

REUTERS/Dado Ruvic/IllustrationWASHINGTON, June 6 (Reuters) - U.S. President Joe Biden's re-election campaign said on Tuesday that a decision by Alphabet Inc's (GOOGL.O) YouTube to stop policing false claims about fraud in the 2020 race is "reckless" and could lead to violence. YouTube said on Friday the platform would stop removing content that might have spread false claims related to U.S. presidential elections in 2020 and before. Biden's opponent, former President Donald Trump, has falsely claimed that the election was marred by widespread fraud. Munoz noted that YouTube's policy change did "not erase" the fact that Biden fairly won the 2020 presidential election and said that social media companies had played a role in spreading lies in 2020. Biden, a Democrat, is running for re-election in 2024, and Trump, a Republican, is seeking his party's nomination to take on Biden again.

Persons: Dado Ruvic, Joe Biden's, Biden, Kevin Munoz, Donald Trump, Trump, Munoz, Trevor Hunnicutt, Kanishka Singh, Chris Reese, Richard Chang, Tom Hogue Organizations: REUTERS, WASHINGTON, YouTube, U.S . Capitol, Democrat, Trump, Republican, Thomson Locations: Washington

Companies Alphabet Inc FollowWASHINGTON, June 5 (Reuters) - Texas won the latest round in its antitrust lawsuit against Alphabet's Google on Monday as a U.S. judicial panel ordered the case returned to federal court in Texas. At Google's request the lawsuit had been moved in August 2021 to a federal court in New York, where other advertising technology cases were being heard. Texas had asked for the lawsuit to be moved back after the U.S. Congress passed the Venue Act in 2022 that grants state attorneys general the right to choose where an antitrust lawsuit will be litigated. The Texas lawsuit accuses Google of violating the law by dominating the process that advertisers use to put ads online. And states led by Utah filed a lawsuit in 2021 saying the company broke antitrust law in handling its play store.

Persons: Texas Attorney General's, Karen Caldwell, Diane Bartz, Chris Reese, Mark Porter, Aurora Ellis Organizations: WASHINGTON, Texas, Alphabet's Google, U.S, Congress, Google, Texas Attorney, Multidistrict, Thomson Locations: Texas, New York, The Texas, Utah

☆ Snap hires new head of engineering from Google
▼ + stars: | 2023-06-05 | by ( Sheila Dang | ) www.reuters.com time to read: +1 min

June 5 (Reuters) - Snap Inc (SNAP.N) said on Monday it hired a new senior vice president of engineering from Google, the latest in a string of new recruits to advance its advertising business. Eric Young, who was previously vice president of engineering for Alphabet Inc's (GOOGL.O) Google Cloud, will oversee the core infrastructure for Snap, which owns the popular photo messaging app Snapchat. While Snap has consistently expanded its audience for Snapchat, which now has 750 million monthly users, the company has struggled to generate revenue at the same pace. While at Google, Young worked on building the tech infrastructure for products like search, ads and YouTube. His appointment at Snap comes after the company hired Rob Wilk, former head of advertising at Microsoft Corp (MSFT.O), to become president of the Americas region, as well as another Google executive to lead revenue product.

Persons: Eric Young, Young, Rob Wilk, Sheila Dang, Matthew Lewis Organizations: Google, YouTube, Microsoft Corp, Thomson Locations: Americas, Dallas

Neuralink's valuation jump in secondary trades is in sharp contrast to other startups. About 85% of pre-IPO companies are currently valued in secondary trades at an average discount of 47% to their last funding round, according to data provider Caplight. The maximum amount sought for the Neuralink shares marketed for sale at a $7 billion valuation was just $500,000, according to the email seen by Reuters. Sim Desai, chief executive of Hiive, an online platform where the shares are traded, said demand for Neuralink stock has been "tremendous." Neuralink stock that some of the employees hold has jumped around 150% in value in just two years, based on the secondary trades.

Persons: Elon, Kip Ludwig, Musk, Neuralink, Sim Desai, Arun Sridhar, Sridhar, Galvani, Rachael Levy, Marissa Taylor, Krystal Hu, Greg Roumeliotis, David Gregorio Our Organizations: U.S . National Institutes of Health, Reuters, U.S . Food, GSK Plc, Sciences, FDA, U.S . Department of Agriculture, Department of Transportation, Thomson Locations: Neuralink's, U.S, Washington ,, New York

☆ Musk's Neuralink valued at about $5 billion despite long road to market: Reuters
▼ + stars: | 2023-06-05 | by ( ) www.cnbc.com time to read: +4 min

Such so-called secondary trades are an imperfect gauge of a company's value; their volume is thin and they lack the wider market consensus of a fundraising round or initial public offering (IPO). About 85% of pre-IPO companies are currently valued in secondary trades at an average discount of 47% to their last funding round, according to data provider Caplight. In Neuralink's last known fundraising in 2021, it raised $205 million at an approximately $2 billion valuation, according to data provider Pitchbook. The maximum amount sought for the Neuralink shares marketed for sale at a $7 billion valuation was just $500,000, according to the email seen by Reuters. Sim Desai, chief executive of Hiive, an online platform where the shares are traded, said demand for Neuralink stock has been "tremendous."

Persons: Elon, Kip Ludwig, Musk, Neuralink, Sim Desai, Arun Sridhar, Sridhar, Galvani Organizations: U.S . National Institutes of Health, Reuters, U.S . Food, GSK Plc, Sciences Locations: Neuralink's, U.S

SummarySummary Companies Palo Alto gains on S&P 500 index inclusionApple climbs ahead of developer conferenceIndexes: Dow down 0.25%, S&P up 0.22%, Nasdaq up 0.46%June 5 (Reuters) - The S&P 500 and the Nasdaq rose on Monday, as Apple scaled an all-time peak and investors weighed up chances of the Federal Reserve pausing interest rate hikes at its upcoming policy meeting. Other growth stocks also rose, with Alphabet Inc (GOOGL.O) gaining 1.8% and Amazon.com Inc (AMZN.O) adding 0.9%. Palo Alto Networks Inc (PANW.O) climbed 5.5% as the cybersecurity firm looks set to replace Dish Network (DISH.O) in the S&P 500 index. Declining issues outnumbered advancers for a 1.56-to-1 ratio on the NYSE and for a 1.35-to-1 ratio on the Nasdaq. The S&P index recorded 14 new 52-week highs and two new lows, while the Nasdaq recorded 70 new highs and 32 new lows.

Persons: Thomas Hayes, Sam Stovall, advancers, Sruthi Shankar, Shristi, Vinay Dwivedi, Anil D'Silva Organizations: Palo, Dow, Nasdaq, Apple, Apple Inc, Alphabet Inc, Amazon.com Inc, Great, Capital, Institute for Supply Management, CFRA Research, Dow Jones, Palo Alto Networks, Dish Network, Big, Wall Street Journal, Tesla Inc, NYSE, Thomson Locations: U.S, Washington, Big U.S, China, Bengaluru

☆ Instagram reinstates Robert F. Kennedy Jr. amid presidential bid launch - WaPo
▼ + stars: | 2023-06-04 | by ( ) www.reuters.com time to read: +1 min

June 4 (Reuters) - Meta Platform's (META.O) Instagram on Sunday lifted its suspension against the account of Robert F. Kennedy Jr., nephew of the late president John F. Kennedy, The Washington Post reported. "As he is now an active candidate for president of the United States, we have restored access to Robert F. Kennedy, Jr.'s Instagram account," Meta spokesperson Andy Stone said in a statement, according to the newspaper. On Thursday, Kennedy in a series of tweets said that Instagram had still not reinstated his account and that "to silence a major political candidate is profoundly undemocratic." loadingIn 2019, Kennedy's relatives, including Kathleen Kennedy Townsend, Joseph P. Kennedy II, and Maeve Kennedy McKean - wrote a Politico op-ed, criticizing his previous statements on vaccines as "misinformation." In September 2021, Alphabet Inc's (GOOGL.O) YouTube also banned channels associated with Robert F. Kennedy Jr. and other prominent anti-vaccine activists Joseph Mercola.

Persons: Instagram, Robert F, Kennedy Jr, John F, Kennedy, Biden, Jr, Andy Stone, Kathleen Kennedy Townsend, Joseph P, Kennedy II, Maeve Kennedy McKean, Joseph Mercola, Meta, Yana Gaur, Aurora Ellis Organizations: Sunday, The Washington Post, Democratic, YouTube, Thomson Locations: COVID, United States, Bengaluru

☆ Majority of EU countries against network fee levy on Big Tech, sources say
▼ + stars: | 2023-06-02 | by ( Foo Yun Chee | ) www.reuters.com time to read: +2 min

BRUSSELS, June 3 (Reuters) - A majority of EU countries have rejected a push by Europe's big telecoms operators to force Big Tech to help fund the rollout of 5G and broadband in the region, people familiar with the matter said. Telecoms ministers from 18 countries either rejected or criticised the proposed network fee levy on tech firms at a meeting with EU industry chief Thierry Breton in Luxembourg on Thursday, the sources said. That echoed comments made last month by EU telecoms regulators' group BEREC. Breton is expected to issue a report by the end of June with a summary of feedback provided by Big Tech, telecoms providers and others which will indicate his next steps. Any legislative proposal needs to be negotiated with EU countries and EU lawmakers before it can become law.

Persons: Thierry Breton, Breton, Foo Yun Chee, Rosalba O'Brien Organizations: EU, Big Tech, Deutsche Telekom, Telefonica, Telecom Italia, France Telecom, French, Google, Apple Inc, Inc, Netflix Inc, Amazon.com Inc, Microsoft Corp, Thomson Locations: BRUSSELS, Luxembourg, Orange, Austria, Belgium, Czech Republic, Denmark, Finland, Germany, Ireland, Lithuania, Malta, Netherlands, Cyprus, France, Greece, Hungary, Italy, Poland, Portugal, Romania

☆ Meta to test limiting some news access on Facebook, Instagram in Canada
▼ + stars: | 2023-06-02 | by ( ) www.reuters.com time to read: +1 min

June 1 (Reuters) - Meta Platforms Inc (META.O) on Thursday said it will begin tests on its social media websites Facebook and Instagram that will limit some users and publishers from viewing or sharing some news content in Canada. The testing period will run for several weeks, the social media giant said, adding that the minor percentage of Canadian users enrolled in testing will be notified if they attempt to share news content. The test comes in response to Canada's proposed "Online News Act". "When a big tech company... tells us, 'If you don't do this or that, then I’m pulling the plug' – that’s a threat. Google rolled out similar tests earlier this year blocking news content for some Canadian users as a test run for a potential response to the online news bill.

Persons: Canada's, Meta, Pablo Rodriguez, I’ve, Rodriguez, Rahat Sandhu, Mrinmay Dey, Steve Scherer, Janane Organizations: Inc, Facebook, Canadian Heritage, Reuters, Google, Thomson Locations: Canada, Bengaluru

☆ YouTube to stop removing content making false claims on past elections
▼ + stars: | 2023-06-02 | by ( ) www.reuters.com time to read: +1 min

June 2 (Reuters) - Alphabet Inc's (GOOGL.O) YouTube said on Friday that the platform would stop removing content that might have spread false claims related to U.S. presidential elections in 2020 and before. The new set of updates is part of YouTube's elections misinformation policy that will go into effect immediately. "In the current environment, we find that while removing this content does curb some misinformation, it could also have the unintended effect of curtailing political speech," YouTube said in a blog post. The proliferation of disinformation has raised questions about how social media platforms enforce their policies against misleading content about elections. Other social media platforms like Twitter and Meta Platforms Inc's (META.O) Facebook have also seen a spike in disinformation related to elections.

Persons: Yamini Kalia, Anil D'Silva Organizations: YouTube, Facebook, Thomson

☆ Hackers use flaw in popular file transfer tool to steal data, researchers say
▼ + stars: | 2023-06-02 | by ( Zeba Siddiqui | ) www.reuters.com time to read: +2 min

SAN FRANCISCO, June 1 (Reuters) - Hackers have stolen data from the systems of a number of users of the popular file transfer tool MOVEit Transfer, U.S. security researchers said on Thursday, one day after the maker of the software disclosed that a security flaw had been discovered. Software maker Progress Software Corp (PRGS.O), after disclosing the vulnerability on Wednesday, said it could lead to potential unauthorized access into users' systems. The managed file transfer software made by the Burlington, Massachusetts-based company allows organizations to transfer files and data between business partners and customers. Such "zero-day," or previously unknown, vulnerabilities in managed file transfer solutions have led to data theft, leaks, extortion and victim-shaming in the past, Mandiant said. Pitt did not have a comment on who might have been trying to steal data by exploiting the flaw.

Persons: Ian Pitt, Charles Carmakal, Mandiant, Carmakal, Rapid7, Pitt, Zeba Siddiqui, Christopher Cushing Organizations: FRANCISCO, Progress Software Corp, Software, Reuters, Rapid7 Inc, Mandiant Consulting, Google, Thomson Locations: Burlington , Massachusetts, San Francisco

Google -owned YouTube will stop removing false claims of widespread election fraud in the 2020 presidential race, the video platform announced on Friday. The decision, which comes ahead of the 2024 midterm races, undoes a policy implemented in December 2020, after President Joe Biden won the election. In the 2020 elections, the company faced backlash for delayed action when it came to labeling and removing videos that showed misinformation or that falsely claimed widespread voter fraud. YouTube said there are still aspects of its election misinformation policy that remain, including highlighting authoritative sources in search and recommendations and prohibiting posts that aim to mislead voters on where and how to vote. WATCH: Midterms under scrutiny following false claims about 2020 election

Persons: Donald Trump's, Joe Biden Organizations: U.S, Google, Alphabet Inc, Trump, YouTube, U.S . Capitol, CNBC Locations: Washington, today's

☆ Federer serves up directions as latest voice on Waze navigation app
▼ + stars: | 2023-06-01 | by ( ) www.reuters.com time to read: +1 min

The retired, polyglottic tennis star can offer directions in English, French, or German, and is the first person to record custom navigation in three different languages, the navigation app said on Wednesday. The 41-year-old Swiss offers a variety of motivational messages to drivers, on top of basic directions. "It's drive time - I can feel the adrenaline kicking in already," Federer says in one recording. I'm ready to coach you along the way." Federer joins an assortment of celebrity voices on the navigation app, which Alphabet Inc (GOOGL.O) acquired for $1 billion in 2013, including pop stars Christina Aguilera and the Jonas Brothers.

Persons: Europe's Rafael Nadal, Roger Federer, Team World's Jack Sock, Frances Tiafoe REUTERS, Andrew Boyers, Federer, Christina Aguilera, Jonas Brothers, Amy Tennery, Toby Davis Organizations: Laver, Team, Thomson Locations: London, Britain, Swiss, New York

☆ Google leads funding round for Indian space startup Pixxel
▼ + stars: | 2023-06-01 | by ( ) www.reuters.com time to read: +3 min

BENGALURU, June 1 (Reuters) - Alphabet Inc's (GOOGL.O) Google is leading a $36 million funding round for Bengaluru-based Pixxel, a satellite-image startup, in the first major investment in the Indian space sector since the government launched its privatisation policy in April. Pixxel did not specify how much Google had invested or the valuation it reflected. Founder and Chief Executive Awais Ahmed said Pixxel would be "the most valued space tech company in India after this investment". Space startups, in particular, have come under pressure after the bankruptcy of Richard Branson's Virgin Orbit launch company. Ahmed has said he was inspired to launch a space startup from a visit Elon Musk's SpaceX as part of a student competition to build a demonstration "hyperloop" transport pod.

Persons: Pixxel, Awais Ahmed, Ahmed, Richard Branson's Virgin, Kshitij Khandelwal, Nivedita, Kevin Krolicki, Christopher Cushing Organizations: Google, Miner Rio Tinto Ltd, Accenture PLC, Skyroot Aerospace, Reuters, Space, Richard Branson's Virgin Orbit, Elon, SpaceX, Thomson Locations: BENGALURU, Bengaluru, Miner Rio, India

☆ Internet data growth has not pushed up telcos' network costs, Dutch government says
▼ + stars: | 2023-06-01 | by ( Foo Yun Chee | ) www.reuters.com time to read: +2 min

BRUSSELS, June 1 (Reuters) - The Dutch government has stepped up its criticism of a push by EU telecoms operators to get Big Tech to help pay for the rollout of 5G and broadband, saying claims that unchecked data growth has pushed up network costs are not backed by facts. "In reality, contrary to all these persistent claims, the strong growth of Internet data in the past did not confront large telecom operators with higher network costs," the paper seen by Reuters said. "In reality the total network costs have remained constant despite the consistently high growth over the last decades, whilst the profit margins of European telecom operators have improved significantly over the last decade," the paper said. They said direct payments are unjustified as end-users already pay for their access line including network traffic costs while such intervention would affect the functioning of the internet. "The synergies for such cross-border mergers to telecom operators are generally considered relatively limited, whilst there don’t seem to be convincing benefits to wider society."

Persons: Foo Yun Chee, Chizu Organizations: EU, Big Tech, European Commission, Reuters, Deutsche Telekom, Telefonica, Telecom Italia, Google, Apple Inc, Inc, Netflix Inc, Amazon.com Inc, Microsoft Corp, Netflix's, Thomson Locations: BRUSSELS, Luxembourg, Orange, Dutch

OAKLAND, California, May 31 (Reuters) - Lightmatter, a Boston-based startup using light for AI computing, said on Wednesday it raised $154 million and tripled its valuation as customers in need of faster, more energy efficient computing for AI work are buying its systems. "We use light to link computer chips together and we also use light to do calculations for deep learning," Lightmatter co-founder and CEO Nick Harris said. "The reason that we're getting these customers and data center scale deployments with our interconnect is that the generative AI boom is driving high-end chips like crazy." Light has been used for decades in the telecommunications industry to move data across the world with fiber optic cables. Harris said Envise will be able to run large AI models but will not train them.

Persons: Lightmatter, Nick Harris, Harris, Envise, Jane Lanhee Lee, Lisa Shumaker Organizations: GV, Google Ventures, Inc, Fidelity Management & Research Company, Thomson Locations: OAKLAND, California, Boston

ET (1900 GMT), to discuss the debt ceiling bill. "The market is cautiously pricing in that the deal has been done," said Thomas Hayes, chairman at Great Hill Capital LLC. Nvidia Corp (NVDA.O) jumped 4.8% in premarket trading after it said on Monday it was building Israel's most powerful AI supercomputer to meet soaring customer demand for AI applications. Other chipmakers including Advanced Micro Devices Inc (AMD.O), Marvell Technology Inc (MRVL.O) and Intel Corp (INTC.O) added about 3% each. May consumer confidence data is due shortly after markets open, while the Labor Department's closely watched nonfarm payrolls data for May is due on Friday.

☆ Nvidia set to become first US chipmaker valued at over $1 trillion
▼ + stars: | 2023-05-30 | by ( ) www.reuters.com time to read: +2 min

May 30 (Reuters) - Nvidia Corp (NVDA.O) is close to breaching $1 trillion in market capitalization, making it the first U.S. chipmaker to join the trillion-dollar club. The gaming and AI chip company, whose shares rose 3.8% in trading before the bell on Tuesday, was valued at $998 billion. AI took center stage after Nvidia stunned investors with a revenue forecast last week that surpassed analysts' expectations by more than 50%. The highest price target valued the company at about $1.6 trillion, on par with Google-parent Alphabet. Reuters GraphicsReporting by Medha Singh, Akash Sriram and Samrhitha Arunasalam in Bengaluru; Editing by Shounak DasguptaOur Standards: The Thomson Reuters Trust Principles.

U.S. President Joe Biden and Republican House of Representatives Speaker Kevin McCarthy on Sunday signed off on an agreement to temporarily suspend the debt ceiling and cap some federal spending. ET (1900 GMT), to discuss the debt ceiling bill. Reflecting investor optimism, the cost of insuring exposure to a U.S. debt default fell further on Tuesday, while yields on longer-dated U.S. Treasuries fell. Other chipmakers including Advanced Micro Devices Inc (AMD.O), Marvell Technology Inc (MRVL.O) and Intel Corp (INTC.O) added about 3% each. ET, Dow e-minis were up 60 points, or 0.18%, S&P 500 e-minis were up 22.75 points, or 0.54%, and Nasdaq 100 e-minis were up 157.25 points, or 1.1%.

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

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