DIRS.INFO The most relevant business & tech news

☆ Tech giants lead surge in global mega-caps as inflation eases
▼ + stars: | 2023-12-01 | by ( ) www.reuters.com time to read: +2 min

Apple Inc's (AAPL.O) market value jumped 11.2% to $2.95 trillion over the past month, while Microsoft Corp (MSFT.O) saw a 12.1% increase in its market cap, reaching $2.8 trillion. Reuters Graphics Reuters GraphicsNvidia Corp's (NVDA.O) market cap soared 14.7% to $1.15 trillion, following its announcement of a 206% year-over-year revenue increase to $18.1 billion in the third quarter. JPMorgan Chase & Co (JPM.N) saw its market cap increase by 12.2% to $451 billion by the end of November. In other sectors, Tesla Inc's (TSLA.O) market value rose nearly 20% to $763.2 billion last month, following a price hike for its Model 3 and Y vehicles in China. Saudi Arabian Oil Co (2222.SE) and Exxon Mobil Corp (XOM.N) saw market caps fall by 0.3% and 2.9%, respectively.

Persons: Mike Segar, Tesla, Patturaja Murugaboopathy, Gaurav Dogra, Kim Coghill Organizations: Apple Inc, Apple, REUTERS, Microsoft Corp, Reuters Graphics Reuters, Nvidia, JPMorgan Chase &, Rho, Saudi Arabian Oil Co, Exxon Mobil Corp, Thomson Locations: Manhattan , New York, U.S, China, Saudi, Bengaluru

☆ Mega-cap firm valuations fall amid rising rates, tech earnings concerns
▼ + stars: | 2023-11-01 | by ( ) www.reuters.com time to read: +2 min

A sign is pictured outside a Google office near the company's headquarters in Mountain View, California, U.S., May 8, 2019. REUTERS/Paresh Dave/File Photo Acquire Licensing RightsNov 1 (Reuters) - Most global mega-cap stocks continued their slide in October, hit by the rise in U.S. interest rates and lacklustre third-quarter earnings growth among some top U.S. tech firms. Reuters Graphics Reuters GraphicsTesla's (TSLA.O) market value tumbled almost 20% to $638 billion last month, largely due to the impact of rising U.S. interest rates on electric vehicle (EV) demand. On the other hand, Microsoft's (MSFT.O) market value jumped 7.1% to $2.5 trillion, buoyed by its strong fiscal first-quarter results in all segments. This growth was attributed to strong performances in cloud computing and PC businesses, bolstered by increased customer interest in its artificial intelligence offerings.

Persons: Paresh Dave, Patturaja Murugaboopathy, Gaurav Dogra, Mark Potter Organizations: REUTERS, Google, Reuters Graphics Reuters, Panasonic Holdings, Nvidia, Oil, Thomson Locations: Mountain View , California, U.S, Japan, China, Saudi, Bengaluru

But China, which bristles at visits to Taiwan by foreign government officials, tends to ignore trips by business executives, who usually keep clear of politics. Dimon will meet bank employees and clients in Taiwan on his visit, said the source, who sought anonymity as the plans were not public, while adding that no meetings were planned with Taiwan officials. As part of his Asia tour, Dimon will also visit South Korea after the Taiwan trip, said the source. But there was no plan for President Tsai Ing-wen to meet Dimon, her office said on Friday. Dimon favours East-West "derisking" rather than decoupling, he told the three-day JPMorgan Global China Summit event in the city on Wednesday.

Persons: Jamie Dimon, Andrew Collier, Dimon, Nvidia Corp's, Jensen Huang, Pat Gelsinger, Dimon's, Ma Ying, Tsai Ing, Chen Jining, Selena Li, Kane Wu, Scott Murdoch, Ben Blanchard, Emily Chan, Mrinmay Dey, Sumeet Chatterjee, Clarence Fernandez Organizations: JPMorgan Chase &, JPMorgan, Orient Capital Research, Bloomberg, Wall, U.S, Nvidia, Intel, Financial, Commission, Shanghai's Communist, JPMorgan Global China, Thomson Locations: Taiwan, China, Taipei, Beijing, Hong Kong, Asia, South Korea, East, United States, Sydney, Bengaluru

☆ GQG adds more Nvidia, considers increasing exposure to Adani, says CIO
▼ + stars: | 2023-06-01 | by ( Carolina Mandl | ) www.reuters.com time to read: +1 min

[1/2] A view of a Nvidia logo at their headquarters in Taipei, Taiwan May 31, 2023. Fort Lauderdale, Florida-based GQG, which manages almost $100 billion in assets, added 8.2 million shares in Nvidia in the first quarter, worth $2.3 billion then, according to a regulatory filing. Since then, Chief Investment Officer Rajiv Jain said in an interview that GQG has "meaningfully increased" its position in Nvidia. Jain also said the asset manager is considering raising its exposure to Adani by participating in capital increases the group announced in May. Reporting by Carolina Mandl, in New YorkOur Standards: The Thomson Reuters Trust Principles.

Persons: Ann Wang NEW, Nvidia Corp's, Rajiv Jain, GQG, Jain, Carolina Mandl Organizations: REUTERS, Nvidia, GQG Partners, Thomson Locations: Taipei, Taiwan, Australia, Fort Lauderdale , Florida, New York

☆ Nvidia runaway winner in market cap addition in May
▼ + stars: | 2023-06-01 | by ( ) www.reuters.com time to read: +1 min

June 1 (Reuters) - Nvidia Corp's market capitalisation jumped the most in May among the top 20 global companies by market value, adding $248 billion, with a majority of the gains coming in the last four sessions, according to Refinitiv data. Reuters GraphicsTaiwan Semiconductor Manufacturing Co Ltd (2330.TW), a key manufacturer of Nvidia's chips, also saw a big jump in its market cap last month. Saudi Arabian Oil (2222.SE) and Exxon Mobil Corp (XOM.N) were the biggest losers in terms of market cap, hit by a decline in oil prices last month. Reuters GraphicsApple and Microsoft led the list with the highest market capitalisation in the world. Reporting By Patturaja Murugaboopathy and Gaurav Dogra in Bengaluru; Editing by Sriraj KalluvilaOur Standards: The Thomson Reuters Trust Principles.

Persons: chipmaker, Patturaja Murugaboopathy, Gaurav Dogra, Sriraj Organizations: Nvidia, Reuters Graphics Taiwan Semiconductor Manufacturing Co, Oil, Exxon Mobil Corp, Reuters Graphics Apple, Microsoft, Thomson Locations: Saudi, Bengaluru

☆ GQG adds more Nvidia as chipmaker has a 'new leg', says CIO
▼ + stars: | 2023-06-01 | by ( Carolina Mandl | ) www.reuters.com time to read: +3 min

Fort Lauderdale, Florida-based GQG, which manages almost $100 billion in assets, added 8.2 million shares in Nvidia in the first quarter, worth $2.3 billion then, according to a regulatory filing. Since then, GQG has "meaningfully increased" its position in Nvidia, Chief Investment Officer Rajiv Jain said in an interview. The chipmaker is likely to give a boost to funds which have invested in it, as Nvidia's shares have more than doubled year to date amid an artificial intelligence boom. Two years ago, concerned about the company's high valuation, GQG had dumped all its Nvidia's shares, just to invest again in the first quarter. "Now Nvidia has gotten a new leg because of the ChatGPT-lead, AI narrative, which is very strong," said Jain, explaining his decision to reinvest.

Persons: Nvidia Corp's, GQG, Rajiv Jain, Jain, Adani, “ There's, Carolina Mandl, Susan Fenton Organizations: YORK, Nvidia, GQG Partners, Adani, Energy, Bloomberg, Thomson Locations: Australia, Fort Lauderdale , Florida, India, Adani, U.S

The Labor Department reported that U.S. job openings unexpectedly rose in April, pointing to persistent strength in a labor market that suggests pressure on both wages and inflation. Futures traders raised to 70% the probability of a 25 basis points hike at the Fed's June 13-14 policy meeting. FEDWATCHFed Governor and vice chair nominee Philip Jefferson said skipping a rate hike in two weeks would provide policymakers time to see more data before making a decision. The Labor Department's closely watched May unemployment report, due on Friday, could decide whether a rate hike occurs. Intel was the biggest gainer on the S&P 500 as the chipmaker said it was on track to hit the upper end of its second-quarter revenue forecast.

Persons: Brendan McDermid, Joe Biden, it's, Brad Conger, Callaghan, Conger, FEDWATCH, Philip Jefferson, Patrick Harker, Tim Ghriskey, we've, Nvidia Corp's, Herbert Lash, Shreyashi Sanyal, Shashwat Chauhan, Shounak Dasgupta, Maju Samuel, Richard Chang Organizations: New York Stock Exchange, REUTERS, Senate, Co, Labor Department, Philadelphia Fed, Inverness, Labor, Dow Jones, Nasdaq, Technology, Federal Deposit Insurance Corporation, Parts Inc, Genuine, O'Reily, Hewlett Packard Enterprise Co, Nvidia, Intel, Thomson Locations: New York City, U.S, Conshohocken , Pennsylvania, New York, Bengaluru

[1/2] Fearless Girl is seen outside the New York Stock Exchange (NYSE) in New York City, U.S., May 30, 2023. The S&P 500 was set to end the month flat, while the Dow shed 3.8%. The S&P 500 financial sector index (.SPSY) fell 1.7%, while banks (.SPXBK) dropped 2.7%. Advance Auto Parts Inc (AAP.N) plunged 33.9%, falling the most on the S&P 500, after the auto parts retailer cut its full-year forecasts. Declining issues outnumbered advancers for a 2.21-to-1 ratio on the NYSE and for a 2.02-to-1 ratio on the Nasdaq.

Persons: Brendan McDermid, Joe Saluzzi, Phil Blancato, Nvidia Corp's, advancers, Shreyashi Sanyal, Shashwat Chauhan, Shounak Dasgupta, Maju Samuel Organizations: New York Stock Exchange, REUTERS, Dow, Nasdaq, Federal Reserve, Senate, Themis, Labor, Survey, Traders, Asset Management, Dow Jones, Technology, Federal Deposit Insurance Corporation, Advance, Parts Inc, Genuine, O'Reily, Hewlett Packard Enterprise Co, Nvidia, NYSE, Thomson Locations: New York City, U.S, New York, Bengaluru

☆ Investors who showed Q1 bets on Nvidia may have got boost as it joined $1 trillion club
▼ + stars: | 2023-05-30 | by ( Carolina Mandl | ) www.reuters.com time to read: +2 min

They may not reflect current holdings, as fund managers may have added or sold shares since then. Many investors have piled in to the chipmaker that has quickly become one of the biggest winners of the AI boom. In the previous quarter, Nvidia was not part of GQG's portfolio. Among prominent investors who sold Nvidia's shares before its recent jump is ARK Invest. California Public Employees' Retirement System (CalPERS) sold roughly 1 million shares in Nvidia, but remained with about $1.2 billion in shares in the first quarter.

Persons: Cathie Wood, Carolina Mandl, Megan Davies, Matthew Lewis Organizations: YORK, Nvidia, GQG Partners, Fort, GQG Partners Inc, Nvidia Corp, Tiger Global Management, Wellington Management Group, Moore, ARK, California Public Employees, Carolina, Thomson Locations: U.S, Australia, Fort Lauderdale , Florida, India's, California, New York

Nvidia now trades at around 45 times Wall Street's average earnings estimates for the next 12 months - a popular measure known as the forward price/earnings (P/E) ratio. While investors rushed to buy Nvidia's stock in recent sessions, its P/E multiple has fallen simply because Wall Street's earnings expectations for the company rose even faster than its share price. During Tuesday's session, Nvidia became the first chipmaker to boast a $1 trillion valuation. AI was mentioned 86 times on Nvidia's conference call, beating out 52 mentions on Alphabet's (GOOGL.O) call and 35 mentions on Microsoft's (MSFT.O) call. Reporting By Sinéad Carew, Noel Randewich and markets team reporters; Editing by David GregorioOur Standards: The Thomson Reuters Trust Principles.

Persons: Nvidia Corp's, Jensen Huang, Bernstein, Stacy Rasgon, Susannah Streeter, Hargreaves Lansdown, Streeter, Sinéad Carew, Noel Randewich, David Gregorio Our Organizations: FRANCISCO, Nvidia, Hargreaves, Devices, Meta, Thomson Locations: Refinitiv, Alphabet's, Microsoft's

Some are turning to startups who are pivoting to using powerful chips to run quantum-inspired software on regular computers as they bide their time. In the past 18 months, quantum software startups including SandBoxAQ - an Alphabet spinoff - raised about $1 billion, according to data firm PitchBook. Ultimately, the software inspired by quantum physics won't perform well on quantum computers without some changes, said William Hurley, boss of Austin-based quantum software startup Strangeworks. Still, he said companies that start using them will have engineers "learning about quantum and the phenomenon and the process, which will better prepare them to use quantum computers at the point that they do so." Strangeworks, which also operates a cloud with over 60 quantum computers on it, raised $24 million last month from investors including IBM (IBM.N).

☆ Ex-Intel chief architect explores data center deals for AI startup in India
▼ + stars: | 2023-04-05 | by ( Chavi Mehta | ) www.reuters.com time to read: +2 min

BENGALURU, April 5 (Reuters) - Intel Corp's (INTC.O) former chief architect Raja Koduri is in talks with Hiranandani-backed data center operator Yotta for a deal for his generative artificial intelligence startup, which he said will have a big presence in India. Koduri, who has worked on nearly two dozen generations of computer graphics chip, plans to build local data centers to ease the access to massive computing power needed for generative AI tools. Generative AI refers to technology such as ChatGPT that can use prompts to whip up haikus, essays and images. The southern state of Karnataka and Telangana have been "very supportive", he said, adding that subsidies on electricity will be crucial as data centers are power guzzlers. He is also joining the board of AI chip startup Tenstorrent, led by veteran chip architect Jim Keller, who led the design of Tesla's (TSLA.O) self-driving chip in 2016.

OAKLAND, California, March 28 (Reuters) - Artificial intelligence chip startup Cerebras Systems on Tuesday said it released open source ChatGPT-like models for the research and business community to use for free in an effort to foster more collaboration. Silicon Valley-based Cerebras released seven models all trained on its AI supercomputer called Andromeda, including smaller 111 million parameter language models to a larger 13 billion parameter model. Cerebras said the smaller models can be deployed on phones or smart speakers while the bigger ones run on PCs or servers, although complex tasks like large passage summarization require larger models. Most of the AI models today are trained on Nvidia Corp's (NVDA.O) chips, but more and more startups like Cerebras are trying to take share in that market. The models trained on Cerebras machines can also be used on Nvidia systems for further training or customization, said Feldman.

☆ Departing Intel exec to focus on loosening Nvidia's grip on AI for movies, games
▼ + stars: | 2023-03-21 | by ( Stephen Nellis | ) www.reuters.com time to read: +2 min

New software tools can generate fresh imagery from just a text prompt and hold great promise for fields like visual effects and video games, Koduri said. Koduri, a veteran of Advanced Micro Devices (AMD.O) and Apple Inc (AAPL.O), joined Intel five years ago. But Koduri, who has worked on nearly two dozen generations of computer graphics chips, has also had a long interest in movies. "Because to truly democratize AI computing for everybody, we have got to get the cost down dramatically." Reporting by Stephen Nellis in San Francisco; Editing by Leslie Adler and Alison WilliamsOur Standards: The Thomson Reuters Trust Principles.

☆ Microsoft tells UK it will license 'Call of Duty' to Sony for 10 years
▼ + stars: | 2023-03-08 | by ( Paul Sandle | ) www.reuters.com time to read: +2 min

Microsoft last month struck a similar deal with Nvidia Corp's (NVDA.O) gaming platform, dependent on it getting the go-ahead for the much-contested acquisition. Microsoft President Brad Smith had said he hoped that rival Sony - which has strongly opposed the takeover - would consider doing the same type of deal. Britain's Competition and Markets Authority (CMA) in February said the deal could weaken the rivalry between Microsoft's Xbox and Sony's PlayStation, and stifle competition in cloud gaming. It suggested that structural remedies could be needed to allay its concerns, including divesting the business associated with 'Call of Duty.' The biggest-ever deal in gaming, announced in January last year, is facing scrutiny in the United States and in Europe.

☆ Factbox: JetBlue-Spirit deal flies into Biden administration's tough scrutiny
▼ + stars: | 2023-03-07 | by ( ) www.reuters.com time to read: 1 min

March 7 (Reuters) - The $3.8 billion merger between JetBlue Airways Corp (JBLU.O) and Spirit Airlines Inc (SAVE.N) is in the crosshairs of the U.S. Justice Department, making it the latest major deal to attract tough regulatory scrutiny. Large deals, including Nvidia Corp's (NVDA.O) bid to buy UK-based chip firm Arm Ltd, have been abandoned following regulatory hurdles. Here is a list of some mergers that faced strong antitrust scrutiny under the Biden regime:DEALS UNDER SCRUTINYDEALS BLOCKED & ABANDONEDDEALS THAT WENT THROUGHReporting by Chavi Mehta in Bengaluru; Editing by Sriraj Kalluvila and Anil D'SilvaOur Standards: The Thomson Reuters Trust Principles.

☆ Exclusive: Nvidia's plans for sales to Huawei imperiled if U.S. tightens Huawei curbs-draft
▼ + stars: | 2023-03-04 | by ( Alexandra Alper | ) www.reuters.com time to read: +4 min

[1/3] The logo of Nvidia Corporation is seen during the annual Computex computer exhibition in Taipei, Taiwan May 30, 2017. Nvidia's plans to sell to Huawei have not been previously reported. Reuters could not learn the details of the specific policy change whose impact was being assessed in the report. The report suggested Qualcomm would likely suffer a "moderate economic impact" from the change in policy, in contrast to Huawei. Indeed, the loss of access to Qualcomm's modem chips would have a bigger impact on Huawei, the report forecast, since Huawei "relies heavily on Qualcomm's modem chips to support its smart phone offering."

Microsoft President Brad Smith told a news conference on Tuesday he was now more optimistic of getting the Activision acquisition done after the Nvidia deal and a similar arrangement with Nintendo Co Ltd (7974.T). Instead, Nvidia's 25 million customers will need to pay Nvidia for access to its cloud gaming platform and pay Microsoft for its games. Shares of Microsoft fell 2%, Nvidia dropped 3.4% and Activision fell 0.7% in a broadly lower market on Tuesday afternoon. Nvidia said it now supports the Xbox maker's bid to purchase Activision, but the deal could still be a hard sell with regulators. Smith said he hoped that rival Sony Group Corp (6758.T) will consider doing the same type of deal with Nvidia.

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

Search resuls for: "Nvidia Corp's"

19 mentions found