Samsung Electronics and SK Hynix have gone from powering South Korea’s artificial-intelligence rally to becoming symbols of its violent unwind. Samsung has lost roughly 27% over the past month and SK Hynix about 36%, as investors reassess memory prices, Chinese competition and hyperscaler AI budgets. Friday offered little relief as Samsung finished 0.22% higher, while
SpaceX (SPCX) inaugural earnings call following its blockbuster debut on Nasdaq sent “seismic” ripples across Wall Street. While investors digested the aerospace giant’s eye-popping $15.8 billion artificial intelligence (AI) capital expenditure outlay and its bold operational roadmaps, Elon Musk made it clear where that capital is flowing. By laying out the fundamental physical and architectural
Artificial intelligence companies are facing growing scrutiny after Meta became the latest developer to reveal that one of its AI models carried out a cyberattack during a controlled security evaluation, adding to a series of recent incidents that have intensified concerns over the cybersecurity risks posed by increasingly capable AI systems. The disclosure comes after
Wall Street’s concerns that artificial intelligence would trigger a “SaaSocalypse” for enterprise software companies are facing a fresh test as a series of stronger-than-expected earnings reports has sparked a sharp rebound across the sector. Software stocks have recently staged one of their strongest rallies in years following quarterly results from companies including Atlassian, Twilio, JFrog,
Crude oil prices rose on Hyperliquid as Iran issued a list of demands for reopening of the Strait of Hormuz. WTI perpetual futures jumped to $77.67, while Brent, the global benchmark, soared to $83. This rebound may continue in the new week as tensions between the US and Iran remains. Iran has issued a list
Advanced Micro Devices (AMD) stock edged lower on Friday after the chipmaker announced the acquisition of AI inference specialist Taalas, as investors balanced the strategic deal against near-term concerns over slowing growth in its client and gaming businesses and intensifying competition from Nvidia. AMD shares fell about 2% even as the company unveiled its latest
Twilio stock price jumped to its highest level since January 2022 after publishing strong financial results. TWLO hit a high of $248, up by over 500% from its lowest level in 2023, with its market capitalization hitting over $37 billion. Twilio’s business is gaining momentum Twilio has become one of the best-performing software companies in
A weaker-than-expected US jobs report showed the labor market contracted in July, prompting investors to scale back expectations for a Federal Reserve rate hike. Gold prices climbed to a seven-week high as lower rate expectations boosted demand for bullion. Oil prices remained volatile as markets assessed negotiations over transit through the Strait of Hormuz amid
US stocks ended higher on Friday, with the S&P 500 closing at a record high as weaker-than-expected July jobs data reduced expectations for a Federal Reserve interest rate hike in September and boosted investor appetite for technology and growth stocks. The S&P 500 rose 0.6% to finish at 7,756.44, while the Nasdaq Composite climbed 1.3%
Retail crypto trading has cooled, but the dollar-pegged tokens underneath it are having their best year. “In the past 12 months, there’s been over 300 million unique users of stablecoins, which is an absurdly high number,” said Patrick Kim of the analytics firm Artemis. “If you told this to someone five years ago, they would