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☆ Chip giant TSMC reports blockbuster results even as questions over AI mania loom
▼ + stars: | 2024-10-17 | by ( Huileng Tan | ) www.businessinsider.com time to read: +5 min

TSMC's growth was driven by strong demand for artificial intelligence technology. But the market is questioning whether the euphoria over AI and AI chips is sustainable. AdvertisementChip giant Taiwan Semiconductor Manufacturing Company just reported strong growth, thanks to continued enthusiasm for artificial intelligence — even amid persistent questions over the return on investment from the technology. The Taiwanese company's blockbuster results came after Dutch chip equipment maker ASML — a supplier to TSMC — reported guidance on Tuesday that disappointed investors and triggered a sell-off in chip stocks. But it doesn't mean AI demand is fizzling.

Persons: —, LSEG, TSMC —, Wei, Goldman Sachs, Christophe Fouquet, Roger Dassen, ASML, Dassen, Andy Li, Li Organizations: Taiwan Semiconductor Manufacturing Company, Service, Taiwan, Nvidia, New York Stock Exchange, ASML Locations: Taiwan, Dutch, China

☆ Chip firm ASML shares plunge 15% after warning of weaker China sales in early release
▼ + stars: | 2024-10-15 | by ( Ryan Browne | ) www.cnbc.com time to read: +2 min

Nurphoto | Nurphoto | Getty ImagesShares in semiconductor equipment maker ASML fell 15.6% Tuesday after the Dutch company published disappointing sales forecasts in results a day early. ASML said it expects net sales for 2025 to come in between 30 billion euros ($32.72 billion) and 35 billion euros, at the lower half of the range it had previously provided. Net bookings for the September quarter came in at 2.6 billion euros ($2.83 billion), the company said — well below the 5.6 billion euro LSEG consensus estimate. Net sales, however, beat expectations coming in at 7.5 billion euros. In its June-quarter earnings presentation, the Dutch company said that 49% of its sales come from China.

Persons: ASML, Christophe Fouquet, AMSL ASML, Roger Dassen, Dassen Organizations: Nurphoto, Getty, Nvidia, Devices, Broadcom, Wall Street Locations: China, U.S

☆ Chipmakers tumble as ASML forecast cut issues a growth warning to the sector
▼ + stars: | 2024-10-15 | by ( Kelly Cloonan | ) www.businessinsider.com time to read: +3 min

Chip stocks tumbled Tuesday, with NVDA and AMD down 5% and ASML plunging 16%. The sector was also rattled by reports that the US is weighing a cap on chip exports. Other chip stocks followed, with NVDA dipping almost 5%, AMD falling 5.3%, and Broadcom tumbling 3.5% around midday Tuesday. Flows into AI stocks slowed over the summer as investors expressed worries about returns on huge spending on AI. AdvertisementReports that the US is weighing a cap on chip exports from American chipmakers only compounded the industry's tumultuous start to the week.

Persons: —, ASML, SMCI, Christophe Fouquet, Biden, Nvidia — Organizations: NVDA, AMD, Service, Semiconductor, Broadcom, Bloomberg, Investment, Nvidia Locations: Dutch, €, American, East, Africa, Asia, China

☆ Wall Street is turning less bullish on tech darling ASML for several key reasons
▼ + stars: | 2024-09-09 | by ( Ryan Browne | ) www.cnbc.com time to read: +7 min

Analysts at major Wall Street banks are getting more cautious on chip darling ASML , raising concerns about the critical chip equipment maker's demand outlook. Earlier this week, investment bank UBS downgraded ASML to "neutral" and cut its price target on the stock to 900 euros ($1,000.78) from 1,050 euros previously. Other Wall Street banks have subsequently come out with their own respective analyses on ASML — and they're more downbeat than they were before. The bank remains bullish on the stock, though, keeping ASML in its top pick for EU semiconductor equipment stocks. UBS cautioned ASML's machines could face a slowdown in demand due to an "architecture shift" to gate all around architecture, or GAA.

Persons: Morgan Stanley, ASML, ASML's, Morgan Stanley's, EUV, Biden, Christophe Fouquet, Jefferies Organizations: UBS, Intel, Bank of America, ASML's, Samsung, Nvidia, SK Hynix, Base Management, Dutch, Citi, Investment Locations: ASML, U.S, China, New York

☆ ASML earnings drag semiconductor stocks lower
▼ + stars: | 2024-04-17 | by ( Kif Leswing | ) www.cnbc.com time to read: +3 min

Chip stocks fell on Wednesday after ASML, a key developer of semiconductor manufacturing equipment, said that bookings fell by 61% sequentially during the first quarter, a steeper drop than investors had expected. During trading on Wednesday, AMD's stock fell over 4%, Nvidia shares fell about 3%, Intel shares fell nearly 2% and Qualcomm was off 2%. But the biggest drop affected chip technology firm Arm , which was trading nearly 10% lower on Wednesday. ASML fell over 8% on a day when the entire S&P 500 index was only down less than 1%. ASML also said that it expected that government subsidies for chip factories, such as the CHIPS Act in the U.S., would boost its sales.

Persons: Carl Zeiss ZMT, ASML, Peter Wennink, Wennink, Christophe Fouquet Organizations: Nvidia, Intel, Qualcomm, Samsung, Apple Locations: Taiwan, South Korea, U.S, China

☆ Melon, a startup that had raised $1.5 million to build an AI 'brain twin' for users, is shutting down
▼ + stars: | 2024-03-20 | by ( Sydney Bradley | Marta Biino | ) www.businessinsider.com time to read: +1 min

Melon, a startup that was building a "brain twin" using AI, plans to shut down on March 24. The company had raised $1.5 million, but founder Sanne Fouquet said it "faced challenges." Melon , a startup that was building a "brain twin" for users with AI, plans to shut down on March 24, Business Insider has learned. Users could make their lists public and allow others to follow them and discover the content they'd saved. Melon used AI and machine learning to resurface content that users had saved and help them write, brainstorm, and research based on the information the user had collected.

Persons: Sanne Fouquet, Melon Organizations: Consumer, Business

☆ ASML boss Wennink to retire in April; veteran Fouquet to step up
▼ + stars: | 2023-11-30 | by ( ) www.cnbc.com time to read: +1 min

ASML Chief Executive Peter Wennink will retire at the end of his term next April to be replaced by company veteran Christophe Fouquet, the Dutch semiconductor equipment manufacturer said on Thursday. Fouquet, who has been with ASML for 15 years, has previously overseen its extreme ultraviolet (EUV) product lines, which now account for about half of the company's sales. EUV technology, was developed and commercialised by ASML, and is used by only a handful of manufacturers to make advanced chips. "Christophe's career is a clear example of natural evolution throughout the company," Wennink said. The company also announced that Chief Technology Officer Martin van den Brink will retire on April 24.

Persons: Peter Wennink, Christophe Fouquet, Wennink, Fouquet, Taiwan's, Martin van den Brink, Jim Koonmen Organizations: Nikon, Canon, Samsung, Intel, Micron, SK Hynix, Technology

☆ ASML’s new CEO has tricky path to a 1,000% return
▼ + stars: | 2023-11-30 | by ( ) www.reuters.com time to read: +2 min

On Thursday the Dutch group said Chief Executive Peter Wennink is retiring after a decade at the helm. The Veldhoven-based group dominates the market for lithography equipment, a key tool for making microchips used to power everything from smartphones to cars. Demand for its kit has seen ASML’s revenue quadruple and its shares deliver a 1,000% total return since Wennink took over in July 2013. But ASML’s current market power makes it harder for his successor to do deals without inviting antitrust scrutiny. The next 1,000% return is likely to take longer than 10 years.

Persons: Peter Wennink, Christophe Fouquet, ASML, microchips, Wennink, Fouquet, Karen Kwok, Julius Baer’s, Neil Unmack, Oliver Taslic Organizations: Reuters, X, Barclays, Thomson Locations: U.S, China

☆ A day in the life of Erin Lichy, the new 'Real Housewives of New York City' cast member whose day job is selling and flipping luxury real estate
▼ + stars: | 2023-07-04 | by ( Jordan Pandy | ) www.businessinsider.com time to read: +6 min

She is also a cast mate on the rebooted "Real Housewives of New York City," premiering July 16. Her two jobs play off each other: One day Lichy might sell a dated $5 million condo on the Upper West Side. While Lichy works with sellers to maximize their profit when listing a property, she's dabbled in flipping properties, too. Lichy earned her real-estate license at 19 years old and received a master's degree in sustainable development from New York University. Five of the new 'Real Housewives of New York City' cast members with Lichy at right.

Persons: Erin Lichy, Douglas Elliman's Eklund Gomes, —, Lichy, she's, hasn't, It's, Tesla, Abraham, Abraham Lichy, Levi, Layla, Elijah, Eklund Gomes, Homegirl, She's, it's, Le Cuona, We've, Erin Lichy She'll Organizations: Housewives, New, Service, Douglas Elliman's Eklund Gomes Team, New York University, New York City, NBC Locations: New York City, New, New York, Tribeca, Manhattan, Barry's, Flatiron, Tribeca ., romaine, Ubers, Brasserie

☆ First on CNN: GM investing in mushroom leather startup
▼ + stars: | 2022-10-18 | by ( Peter Valdes-Dapena | ) edition.cnn.com time to read: +4 min

CNN Business —General Motors’ venture capital arm has invested in a California startup that’s making imitation leather from mushrooms. It could provide an alternative to both traditional leather made from animal skins, usually cattle, and artificial leather made from plastics. The resulting material feels like leather, has similar durability and can be colored using processes that do not involve harmful substances, just as animal-based leather can. Using various processes company representatives declined to discuss, the mycelia are made to interweave as they grow, forming the leather-like material. MycoWorks and GM Ventures both declined to say how much GM Venture is investing.

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