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
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,
SpaceX is approaching one of the biggest milestones since its blockbuster public listing, with its first lockup period expiring today, allowing up to 911.5 million insider-held shares to become eligible for sale. The event is widely viewed as the company’s first major post-IPO test after its shares slumped following their earnings debut, raising questions about
US stocks gained on Thursday as Wall Street was optimistic about a potential deal to reopen the Strait of Hormuz. However, technology stocks were weak following the latest corporate earnings reports. The Dow Jones Industrial Average rose 0.1% or 47 points, while the S&P 500 was almost unchanged after both indexes reached record highs earlier
Datadog shares DDOG dropped nearly 18% at market open on Thursday despite the cloud monitoring and analytics company reporting better-than-expected second-quarter earnings and raising its full-year financial outlook. The sharp decline came after the stock had reached a record closing high earlier this week, with analysts pointing to profit-taking and elevated investor expectations for 2H
Duolingo DUOL shares fell about 15% on Thursday after the language-learning platform issued a third-quarter revenue forecast that fell short of Wall Street expectations, overshadowing better-than-expected second-quarter results and stronger user growth. The company reported second-quarter revenue of $298.5 million, an 18% increase from a year earlier and above analysts’ expectations of $295.6 million, according
D-Wave Quantum shares QBTS fell about 5% on Thursday after the quantum computing company reported second-quarter revenue and earnings that missed Wall Street expectations, overshadowing a sharp increase in customer bookings. The Florida-based company reported second-quarter revenue of $3.08 million, below analysts’ estimates of approximately $4.08 million. Adjusted loss per share narrowed to 13 cents