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☆ Super Micro shares plummet 18% after financial update heightens investor concerns
  + stars: | 2024-11-06 | by ( Kif Leswing | ) www.cnbc.com   time to read: +2 min
Charles Liang, chief executive officer of Super Micro Computer Inc., during the Computex conference in Taipei, Taiwan, on Wednesday, June 5, 2024. Super Micro shares plunged 18% on Wednesday to their lowest level since June of last year after the embattled server maker issued disappointing unaudited financials and failed to provide specifics plans to keep its Nasdaq listing. Super Micro hasn't filed audited financials since May and is at risk of being delisted by Nasdaq if it doesn't report results for the latest fiscal year to the SEC by mid-November. CEO Charles Liang said Super Micro was actively in the process of hiring a new auditor. For the quarter ending Sept. 30, Super Micro said it generated net sales of between $5.9 billion and $6 billion.
Persons: Charles Liang, financials, Ernst & Young, Ernst, Liang Organizations: Super, Computer Inc, Super Micro, Nasdaq, Micro, Ernst, SEC, Mizuho Locations: Taipei, Taiwan
☆ Jim Cramer's top 10 things to watch in the stock market Wednesday: Trump victory edition
  + stars: | 2024-11-06 | by ( Jim Cramer | ) www.cnbc.com   time to read: +4 min
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. If Jim has talked about a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB.
Persons: Donald Trump, Tesla, Elon Musk, Trump, Gary Gensler, Jim Cramer's, Jim Cramer, Jim Organizations: NBC, Senate, Treasury, Federal Reserve, Trump, Tesla, Club, Justice Department, Apple, DOJ, FTC, Microsoft, Taiwan Semiconductor Manufacturing Company, SEC, Jim Cramer's Charitable, CNBC Locations: China, Taiwan, Mexico
☆ Why your nest egg is Apollo's 'single biggest opportunity' for growth
  + stars: | 2024-11-05 | by ( Alex Nicoll | ) www.businessinsider.com   time to read: +4 min
Helping fund that growth has been growing demand for retirement products, said CEO Marc Rowan. Here's Rowan's case for why your nest egg is the next frontier for the alternative asset manager. Helping to fund those loans is Apollo's retirement business, which Apollo CEO and cofounder Marc Rowan sees as the investment firm's "single biggest opportunity" for future growth. A slide from Apollo's earnings presentation that highlights inflows into Apollo's lines of business. Advertisement"I do envision a day when we will be talking about 60-40 portfolios that are comprised of public and private," Rowan said.
Persons: Marc Rowan, Here's, —, There's, Rowan, Athene, Apollo Rowan, unravels ChatGPT, Trump, Rowan hasn't Organizations: Apollo Global Management, Service, Apollo Global, North Star
☆ Nvidia briefly overtakes Apple as world's most valuable company—it began in a breakfast booth at Denny's
  + stars: | 2024-11-05 | by ( Ashton Jackson | ) www.cnbc.com   time to read: +1 min
Chipmaker Nvidia temporarily dethroned Apple as the most valuable company in the world on Monday — another stop on the company's unlikely journey from startup to tech giant. Nvidia shares rose Monday morning, boosting its market value to $3.38 trillion by the afternoon, surpassing Apple's $3.35 trillion market cap. The news came just days after S&P Dow Jones Indices announced that Nvidia is replacing rival chipmaker Intel in the Dow Jones Industrial Average, a 30-member index that's often viewed as a key metric of the U.S. economy. By Monday evening, Apple bounced back to the top with a $3.38 trillion market value, compared to Nvidia's $3.34 trillion. "We came right here to this Denny's, sat right back there, and the three of us decided to start the company," said Huang.. "Frankly, I had no idea how to do it, nor did they.
Persons: Dow, Apple, Jensen Huang, Chris Malachowsky, Curtis Priem, Huang, DON'T Organizations: Nvidia, Apple, Dow Jones Indices, Intel, Dow Jones, CBS Locations: U.S, San Jose , California
☆ Super Micro says board found 'no evidence of fraud,' still has no timetable for annual results
  + stars: | 2024-11-05 | by ( Kif Leswing | ) www.cnbc.com   time to read: +3 min
Charles Liang, chief executive officer of Super Micro Computer Inc., during the Computex conference in Taipei, Taiwan, on Wednesday, June 5, 2024. Super Micro shares plummeted last week after Ernst & Young, the company's auditor, resigned. CEO Charles Liang said Super Micro was actively in the process of hiring a new auditor. Super Micro shares soared 246% last year after jumping 87% in 2023. WATCH: Super Micro shares down on earnings
Persons: Charles Liang, unaudited, Ernst & Young, Ernst, Liang, LSEG Organizations: Super, Computer Inc, Nasdaq, Super Micro, Micro, SEC, Ernst, Company Locations: Taipei, Taiwan
☆ Chinese driver-assist startup announces $100 million in funding, touts 'deep cooperation' with Nvidia
  + stars: | 2024-11-05 | by ( Evelyn Cheng | ) www.cnbc.com   time to read: +4 min
David Kirton | ReutersBEIJING — Deeproute.ai, a Chinese startup developing autonomous driving systems, announced a $100 million funding round Tuesday from an undisclosed automaker, while emphasizing close ties with chipmaker Nvidia . The startup is also in "deep cooperation" with Nvidia, Zhou said, noting "in-depth discussions" with the chipmaker's CEO Jensen Huang. Zhou spoke on "Commercializing mass-produced autonomous driving solutions" at Nvidia's closely watched GTC AI conference in March. Those maps, used by autonomous driving companies such as Alphabet's Waymo, give a car a detailed picture of city streets. Chinese autonomous driving software developer WeRide went public on the Nasdaq last month, while robotaxi operator Pony.ai has filed for a U.S. IPO.
Persons: David Kirton, It's, Maxwell Zhou, Zhou, Jensen Huang, Deeproute, Orin, Japan Deeproute, Tesla, Elon, WeRide, Pony.ai Organizations: Reuters, Nvidia, Wall, CNBC, Huawei, Nasdaq, Industry Locations: Shenzhen, Guangdong province, China, Reuters BEIJING, Deeproute, U.S, Japan, California
☆ AppLovin's 300% surge in 2024 leaves ad-tech company with big expectations for earnings
  + stars: | 2024-11-04 | by ( Cj Haddad | ) www.cnbc.com   time to read: +4 min
AppLovin has soared 310% in 2024, beating every U.S. tech company with a market cap of at least $5 billion, according to FactSet data. The technology helps put more targeted ads on the mobile gaming apps the company owns, and works for other studios that license the software. They said the company's "real opportunity" is to catch the influx in brand advertising towards mobile gaming from more conventional channels like social media or legacy broadcasting. Because of its position in digital advertising, AppLovin faces potential competition from some of the most well-capitalized companies on the planet. In 2022, AppLovin gave up on efforts to buy gaming software developer Unity Software for $20 billion, after Unity shareholders rejected the bid.
Persons: AppLovin, Wells Fargo, FactSet . Oppenheimer, Stifel Nicolaus, Jefferies, Adam Foroughi, could've, Foroughi, mightily, Unity, LightShed's Brandon Ross Organizations: Nvidia, Revenue, FactSet, Wedbush, Google, Facebook, Apple, Orient, Unity Software, Unity Locations: BTIG, AppLovin, U.S
☆ SK Hynix rallies 6.5% after Nvidia boss Jensen Huang asks firm to expedite next-generation chip
  + stars: | 2024-11-04 | by ( Arjun Kharpal | ) www.cnbc.com   time to read: +2 min
Chey Tae-won, chairman of SK Group, during the SK AI Summit in Seoul, South Korea, on Monday, Nov. 4, 2024. SK Hynix is working with Nvidia to resolve the supply bottleneck, Chey said. Tech giants around the world have been snapping up Nvidia chips in a bid to produce the most powerful models and applications. SK Hynix shares are up around 36% this year. Samples of the chip — a 16-layer HBM — will be provided to customers in early 2025, SK Hynix said.
Persons: Chey Tae, Chey, Jensen Huang, HBM Organizations: SK Group, SK AI Summit, SK Hynix, Nvidia, SK, SK Hynix's, Tech, Samsung Locations: Seoul, South Korea, HBM
☆ The Dow needs Nvidia to give chipmakers representation in index after Intel's plunge
  + stars: | 2024-11-04 | by ( Ari Levy | ) www.cnbc.com   time to read: +3 min
Nvidia, on the other hand, recently leapfrogged Intel as the biggest chipmaker by revenue, creating a clear one-for-one swap opportunity. With Intel being the only chipmaker in the index, the sector is underrepresented relative to its position in the economy. Nvidia positioned itself to join the Dow in May, when the company announced a 10-for-1 stock split. Amazon joined the Dow in January, giving the internet sector greater representation in the index. Meta's price of almost $562 would currently give it the heftiest weighting in the Dow, just ahead of UnitedHealth Group .
Persons: Dow Jones, Howard Silverblatt, Dow, Silverblatt, Sherwin, Williams Organizations: Intel, Dow Jones, Nvidia, Dow, Verizon, Chevron, Dow Inc, Amazon, UnitedHealth, AMD Locations: U.S
☆ What Nvidia's Dow inclusion means for the chipmaker, according to history
  + stars: | 2024-11-04 | by ( Sarah Min | ) www.cnbc.com   time to read: +3 min
Investors are expecting the Dow Jones Industrial Average to get a boost from the inclusion of the biggest artificial intelligence beneficiary of the last year. The 30-stock Dow has underperformed this year and last after failing to capitalize on the artificial intelligence boom that helped bolster the comparatively tech-heavy S & P 500 and Nasdaq Composite. By comparison, the S & P 500 has surged 20% in 2024, after climbing 24% last year. Nvidia shares have gained 179% this year, and last advanced 1.8% in midday trading. Meanwhile, Intel shares have tumbled more than 55% in 2024; on Monday, it was last off by another 3.5%.
Persons: Dow Jones, CFRA Research's Angelo Zino, Dow, Nvidia doesn't, Ned Davis, Zino, bullish Organizations: Dow Jones, Dow, Nasdaq, Nvidia, Ned Davis Research, Blackwell, Intel, Amazon, Walgreens, Alliance, Walgreens Boots Alliance
☆ Chip fever has created an $11 billion debt market backed by Nvidia's AI-enabling GPUs
  + stars: | 2024-11-04 | by ( Jennifer Sor | ) www.businessinsider.com   time to read: +2 min
Top Wall Street lenders have created a big debt market back by red-hot Nvidia GPUs. A report from the FT says firms have made billions in loans to companies that use Nvidia chips as collateral. AdvertisementTop Wall Street firms have loaned billions to a handful of tech companies that have used Nvidia's artificial intelligence-enabling GPUs as collateral, The Finanacial Times reported. According to the FT, big financial institutions including BlackRock, Blackstone, Pimco, and Carlyle, have made over $11 billion in loans to "neocloud" companies, tech companies that provide cloud services to other tech firms building AI products. There are concerns, though, over the value of Nvidia's GPUs, with the price of existing AI chips potentially coming down as more advanced models are released and as companies potentially dial back AI spending.
Persons: —, Carlyle, Willy Wonka's Organizations: Nvidia, FT, Service, Finanacial Times, BlackRock, Blackstone, Lambda Labs, Leasing, Business Locations: Wall
☆ Chip giant Nvidia wants to bring robots to the hospital
  + stars: | 2024-11-04 | by ( Rebecca Torrence | ) www.businessinsider.com   time to read: +6 min
Nvidia wants to bring "physical AI" to hospitals, with robots for X-rays, linen delivery, and more. AdvertisementNvidia is digging deeper into healthcare — and the tech giant has big ambitions to bring AI to every part of the hospital. "This physical AI thing is coming where your whole hospital is going to turn into an AI," Powell told BI. Physical AI is getting more sophisticated for real-time surgeries, too. But Nvidia sees robots being used far beyond the operating room — including to monitor a patient for falls in their hospital room, or bring them fresh linens, Powell said.
Persons: —, Healthcare Kimberly Powell, Powell, III, Nvidia doesn't, Abridge Organizations: Nvidia, Service, Healthcare, University of Florida Health, Mayo Clinic, AP, Inc, Catalyst, Microsoft Locations: Las Vegas, Florida, Abridge, HLTH
☆ Here are Monday's biggest analyst calls: Nvidia, Apple, Meta, Roblox, Peloton, Charter, Walmart, Berkshire Hathaway & more
  + stars: | 2024-11-04 | by ( Michael Bloom | ) www.cnbc.com   time to read: +6 min
Morgan Stanley reiterates Apple as buy Morgan Stanley said it's sticking with the stock following the release of the company's annual 10-K analysis. " Morgan Stanley reiterates Amazon as overweight Morgan Stanley raised its price target on Amazon to $230 per share from $210. Morgan Stanley upgrades Entergy to equal weight from underweight Morgan Stanley said the energy company's outlook has improved. " Morgan Stanley upgrades Roblox to overweight from equal weight Morgan Stanley said in its upgrade of the stock that it sees a long runway for growth. " Morgan Stanley downgrades STMicroelectronics to underweight from equal weight Morgan Stanley said it sees too many headwinds from the semis manufacturer.
Persons: Berkshire Hathaway, Price, Morgan Stanley, Apple, Goldman Sachs, Goldman, it's bullish, Rollins, William Blair, TSMC, Bernstein, Trip.com, Morgan Stanley downgrades STMicroelectronics, Hollister comps, Peter Stern, D.A, Davidson, AAPL Organizations: UBS, Berkshire, Citi, Apple, PlayStation, Barclays, Blackwell, Tencent, Entertainment, Trip.com, Bank of America, Inc, KeySight, Qs, Abercrombie & Fitch Citi, of America, " Bank of America, Meta, Walmart Locations: Kazakhstan, LA, China
☆ HPE CEO tells BI why he's redoubling DEI initiatives as some companies waver
  + stars: | 2024-11-04 | by ( Emma Cosgrove | ) www.businessinsider.com   time to read: +5 min
Hewlett Packard Enterprise CEO Antonio Neri prioritizes diversity, equity, and inclusion. AdvertisementHewlett Packard Enterprise CEO Antonio Neri started his career at the company as a "Customer Service Engineer" in a call center nearly 30 years ago. Neri said he addresses DEI initiatives at the company in internal quarterly leadership discussions and company surveys multiple times a year. The CEO role has changedThe 57-year-old CEO wants a diverse workforce that stays with the company and moves up the ranks. If you're sitting on the sideline, that means you're you're not contributing your best," he said.
Persons: Antonio Neri prioritizes, John Deere, —, Antonio Neri, " Neri, HPE, Harley Davidson, Neri, He's, it's, Meg Whitman, he's Organizations: Hewlett Packard Enterprise, Microsoft, Service, Hewlett, Enterprise, Business, HP, Partners, eBay Locations: Kenya
☆ Meta is 'net winner' on AI spending, says outperforming fund manager who previously sold the stock
  + stars: | 2024-11-04 | by ( Ganesh Rao | ) www.cnbc.com   time to read: +3 min
An outperforming fund manager who previously sold Meta Platforms shares over concerns about the company's virtual reality investments is now bullish on the technology giant's artificial intelligence strategy. This optimistic stance marks a significant shift for Yiu, who revealed that his fund had previously sold out of Meta Platform shares two years ago due to concerns about the company's virtual reality investments. Meta's Reality Labs division, home to the company's virtual reality technologies and projects, took on $13.72 billion in losses in 2022 before Zuckerberg pivoted strategy. Meta is among the top 10 holdings in Yiu's Blue Whale Growth Fund, which itself is up 16.6% in 2024. Yiu's endorsement comes as Meta faces scrutiny over its ambitious AI spending plans, prompting mixed reactions from Wall Street analysts.
Persons: Stephen Yiu, Yiu, CNBC's, Metaverse, Zuckerberg, Meta, Benjamin Black, Black, Nat Schindler, Morningstar, Morningstar's Malik Ahmed Khan, Michael Bloom, Jonathan Vanian, Ari Levy Organizations: Blue, Growth, Meta, Nvidia, Labs, Wall Street, Deutsche Bank
☆ The 3 things that will influence the stock market in the most consequential week of the year
  + stars: | 2024-11-03 | by ( Zev Fima | ) www.cnbc.com   time to read: +11 min
The major stock benchmarks rallied Friday but were lower last week, with the Nasdaq leading the way lower after reaching new highs. Eight other Club names reported earnings last week, including Eli Lilly and Eaton. Despite indications from Big Tech that Nvidia's AI chips will remain in hot demand, the Club stock fell 4.3% for the week. The S & P 500 , which is less tech-weighted, fell nearly 1.4% for the week, making it back-to-back weekly losses for the broader market index. Earnings After analyzing earnings reports from 14 of our portfolio companies last week, there is only one Club name on the docket this week.
Persons: Eli Lilly, Eaton, Jim Cramer, financials Goldman Sachs, Kamala Harris, Donald Trump, Harris, Trump, That's, Jerome Powell, We're, we'll, Archer, Johnson, Jim Cramer's, Jim, Brendan McDermid Organizations: Nasdaq, Devices, Apple, Microsoft, Big Tech, Club, Nvidia, Dow, Intel, AMD, Dow Jones, Visa, American Express, JPMorgan, Bond, Federal Reserve, Boeing, Treasury, White, DuPont, Election, Protection, Electronics, Industrial, Constellation Energy, Marriott, Century Fox, Wynn Resorts, WYNN, Goodyear Tire, Cirrus, Diamondback Energy, Daniels, Midland, Apollo Global Management, Ferrari, Restaurant Brands, Emerson Electric, Devon Energy, Novo Nordisk, CVS Health, Howmet Aerospace, Teva Pharmaceutical Industries, Cedar Fair Entertainment, Toyota, American Electric Power Company, Johnson Controls, Dine Brands, Holdings, AMC Entertainment, Qualcomm, Coty, COTY, Energy, Barrick, Halliburton, HAL, Hershey, Air Products & Chemicals, Warner Bros ., Arista Networks, Rivian Automotive, Trade, Icahn Enterprises, Sony, SONY, Paramount, Jim Cramer's Charitable, CNBC, New York Stock Exchange Locations: BlackRock, Florida, China, Sluggishness, Cleveland, New York City, U.S
☆ Why Nvidia replacing Intel in the Dow Jones Industrial Average matters
  + stars: | 2024-11-02 | by ( Katherine Tangalakis-Lippert | ) www.businessinsider.com   time to read: +3 min
Nvidia stock will replace Intel in the Dow Jones Industrial Average, S&P Dow Jones Indices said Friday. AdvertisementNvidia will replace Intel in the Dow Jones Industrial Average, S&P Dow Jones Indices said in a statement on Friday, in a move that underscores the growing lead the chipmaker has over other tech titans in the AI race. Nvidia is up nearly 3% in after-hours trading, while Intel is down nearly 2%Representatives for Intel and Nvidia declined to comment when reached by Business Insider. The analysis is in the statement from the Dow Jones Industrial Average. The question for Intel right now is, can they regain relevance?
Persons: Dow, Emma Cosgrove, — Organizations: Intel, Dow Jones, titans, Business, Service, Nvidia, Dow Jones Indices, Big Tech, Facebook, Apple
☆ Nvidia to replace Intel in Dow Jones Industrial Average
  + stars: | 2024-11-02 | by ( Lloyd Lee | Katherine Tangalakis-Lippert | ) www.businessinsider.com   time to read: +4 min
Nvidia is replacing Intel in the Dow Jones Industrial Average, S&P Dow Jones Indices said Friday. AdvertisementNvidia is joining the Dow Jones Industrial Average, the S&P Dow Jones Indices said on Friday, replacing its rival Intel, which held the position for 25 years. AdvertisementThe Sherwin-Williams Company (SHW) will also replace Dow Inc. (DOW) in the index. The Dow Jones Industrial Average, or DJIA, is made up of 30 blue-chip companies, from Amazon to Walt Disney Co., and is often used as a benchmark for the broader US economy. Now, with its entrance into the DJIA, it only underlines the mainstream acceptance of Nvidia as a market leader.
Persons: Dow, —, Sherwin, missteps, Pat Gelsinger, Jensen Huang, Jensen, Dan Ives, JPMorgan Chase, Johnson, Goldman Sachs Organizations: Nvidia, Intel, Dow Jones, Service, Williams Company, Dow Inc, DOW, Walt Disney Co, Amazon Web Services, Corporate Finance Institute, Microsoft, Walmart, JPMorgan, UnitedHealth, Procter, Gamble Company, Cola Company, Chevron Corporation, Merck, Co, Cisco Systems, McDonald's Corporation, Business Machines Corporation, IBM, American Express Company, Caterpillar, Verizon Communications, Walt Disney Company, Goldman, Honeywell International, Nike, Boeing Company, Intel Corporation, 3M Company, Travelers Companies, Dow Locations: Amazon, Silicon Valley, Susquehanna
☆ What Wall Street learned from the week's Big Tech earnings flurry
  + stars: | 2024-11-02 | by ( Samantha Subin | ) www.cnbc.com   time to read: +4 min
Among the megacap stocks, Alphabet , Amazon and Microsoft grew year-over-year, cloud-based revenue by 35%, 19% and 20%, respectively. But of the five largest companies that have so far reported results — Meta Platforms , Alphabet, Amazon, Apple and Microsoft — only two finished the week higher. META 5D mountain Meta, 5 days Commentary from some of the tech companies signaled that AI demand remains robust. Amazon CEO Andy Jassy justified stepped up AI spending, saying that investors will be rewarded over the long haul. AMZN 5D mountain Amazon, 5 days Meanwhile, the still enormous spending patterns among megacap technology companies signals no downturn for de facto AI leader Nvidia.
Persons: Gene Munster, Sundar Pichai, Andy Jassy, Ray Wang, Wang, Mark Malek, Constellation's Wang, Satya Nadella's, Eric Clark, Clark Organizations: Microsoft, Apple, Constellation Research, Brands, Nvidia
☆ Why all eyes are on America's fallen tech giant Intel, which is losing its spot in the Dow Jones Industrial Average
  + stars: | 2024-11-02 | by ( Helen Li | ) www.businessinsider.com   time to read: +9 min
Nvidia will be replacing Intel in the Dow Jones Industrial Average. In the past several years, it has fallen from grace, failing to jump on the AI train in time. The S&P Dow Jones Indices said Friday that Nvidia will replace Intel on the Dow Jones Industrial Average, a blue-chip index intended to project the most relevant picture of the US economy. Habana helped launch Intel's next-generation Gaudi AI chip for businesses this year. AdvertisementEven if Qualcomm acquired Intel, it's unclear what it would do with Intel's manufacturing operations.
Persons: —, Dow, Pat Gelsinger, Stacy Rasgon, Paul Otellini, Otellini, OpenAI, Habana, Intel's, Gaudi, Rasgon, Bryan Catanzaro, Logan Purk, Edward Jones, nipping, Purk, TSMC, Dan Morgan, Morgan Organizations: Intel, Nvidia, Dow Jones, Qualcomm, Service, VMware, Bernstein Research, Apple, Reuters, Microsoft, Systems, Habana Labs, Companies, AMD, Samsung, Wall Street, Apollo Global Management, Bloomberg, Broadcom, Biden Locations: Arizona, Ohio, Nervana, Synovus
☆ Nvidia to join Dow Jones Industrial Average, replacing rival chipmaker Intel
  + stars: | 2024-11-01 | by ( Kif Leswing | ) www.cnbc.com   time to read: +3 min
Nvidia is replacing rival chipmaker Intel in the Dow Jones Industrial Average, a shakeup to the blue-chip index that reflects the boom in artificial intelligence and a major shift in the semiconductor industry. Intel shares were down 1% in extended trading on Friday. Nvidia shares rose 1%. Nvidia's market cap has swelled to $3.3 trillion, second only to Apple among publicly traded companies. Intel shares have fallen by more than half this year as the company struggles with manufacturing challenges and new competition for its central processors.
Persons: Jensen Huang, Sherwin Williams, Dow Jones, Dow Organizations: Nvidia, EIFO, NVIDIA, Vilhelm, Intel, Dow Jones, Dow Inc, Apple, Companies, Microsoft, Meta, Google, Dow, Amazon, Walgreens Boots Alliance, AMD Locations: Kastrup, Denmark
☆ Super Micro's 44% plunge this week wipes out stock's gains for the year
  + stars: | 2024-11-01 | by ( Ari Levy | ) www.cnbc.com   time to read: +4 min
Charles Liang, chief executive officer of Super Micro Computer Inc., during the Computex conference in Taipei, Taiwan, on Wednesday, June 5, 2024. The company's recent challenges date back to August, when Super Micro said it would not file its annual report on time with the SEC. Super Micro disclosed on Wednesday that Ernst & Young had resigned as its accounting firm just 17 months after taking over from Deloitte & Touche. That's up from $2.1 billion a year earlier and $1.9 billion in the same fiscal quarter of 2023. WATCH: I don't know if Super Micro is guilty or innocent, says Jim Cramer
Persons: Charles Liang, Dow Jones, Ernst, Young, Ernst & Young, Jim Cramer Organizations: Super, Computer Inc, Super Micro, Nasdaq, U.S, SEC, Hindenburg Research, Street, Department of Justice, Deloitte, Touche, CNBC, Ernst, Argus Research, Justice Department, Micro Locations: Taipei, Taiwan
☆ Nvidia to edge out Intel in Dow Jones Industrial Average
  + stars: | 2024-11-01 | by ( Lloyd Lee | Katherine Tangalakis-Lippert | ) www.businessinsider.com   time to read: +3 min
Nvidia is replacing Intel in the Dow Jones Industrial Average, S&P Dow Jones Indices said Friday. AdvertisementNvidia is joining the Dow Jones Industrial Average, the S&P Dow Jones Indices said on Friday, replacing its rival Intel, which held the position for 25 years. AdvertisementThe Dow Jones Industrial Average, or DJIA, is made up of 30 blue-chip companies, from Amazon to Walt Disney Co., and is often used as a benchmark for the broader US economy. Since 1999, Intel has held its position on the DJIA to reflect the state of the larger semiconductor industry. AdvertisementNow, with its entrance into the DJIA, it only underlines the mainstream acceptance of Nvidia as a market leader.
Persons: Dow, —, missteps, Pat Gelsinger, Jensen Huang, Jensen, Dan Ives Organizations: Nvidia, Intel, Dow Jones, Service, Walt Disney Co, Amazon Web Services, Corporate Finance Institute Locations: Amazon, Silicon Valley, Susquehanna
☆ This 5-year-old kid who dressed up as Jensen Huang for a festival in Taipei has already won Halloween
  + stars: | 2024-10-31 | by ( Erin Liam | ) www.businessinsider.com   time to read: +3 min
A 5-year-old Taiwanese boy dressed up as Nvidia's Jensen Huang for Halloween. "He just knows that he is dressed as a very remarkable person," the boy's mom told BI. At least, that's the case for the 5-year-old boy from Taipei who dressed up as Nvidia's Jensen Huang for the holiday. "The Jensen Huang Halloween costumes are here," the user wrote. The Jensen Huang Halloween costumes are here pic.twitter.com/JQavitfhKf — Evan (@StockMKTNewz) October 29, 2024The GPU costume took a week to make, said Kuo.
Persons: Nvidia's Jensen Huang, —, Jensen, Kuo Yuyun, JQavitfhKf — Evan, Kuo, Huang Organizations: Service, Nvidia Locations: Taipei, Taiwan, New York City
☆ Super Micro's $50 billion stock collapse underscores risk of AI hype
  + stars: | 2024-10-31 | by ( Ari Levy | ) www.cnbc.com   time to read: +7 min
Super Micro is one of the primary vendors for building out Nvidia-based clusters of servers for training and deploying AI models. Super Micro is now at risk of being delisted from the Nasdaq, and has until Nov. 16 to regain compliance with the stock exchange. Ernst & Young was new to the job, having just replaced Deloitte & Touche as Super Micro's accounting firm in March 2023. Since the S&P's announced index changes in March, Super Micro's stock has dropped at least 10% on six separate occasions. — CNBC's Rohan Goswami and Kif Leswing contributed to this report WATCH: Super Micro stock is a 'very risky buy'
Persons: Ernst & Young, Deloitte didn't, hasn't, P's, Dow Jones, Kevin Barry, Barry, —, Rohan Goswami, Kif Leswing Organizations: Computer Inc, Bloomberg, Getty, Micro, Nvidia, Ernst, Nasdaq, Mizuho, Deloitte, Touche, CNBC, Ernst & Young, Dell, SEC, Super, Hindenburg Research, Super Micro, U.S, U.S . Super, Whirlpool, P Global Locations: San Jose , California, U.S, That's, U.S .
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