-- Arteris (AIP) said Tuesday it is collaborating with GlobalFoundries (GFS) unit MIPS on the development of physical artificial intelligence computing platforms.
MIPS plans to integrate Arteris system intellectual property into its System-on-Chip platform offerings, Arteris said.
Financial terms of the collaboration were not provided.
Price: $23.50, Change: $+0.87, Percent Change: +3.84%
Tech stocks advanced late Tuesday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) increasing 0.7% and the State Street SPDR S&P Semiconductor ETF (XSD) gaining 2.6%.The Philadelphia Semiconductor index rose 1.1%.In corporate news, Intel (INTC) is expected to report a "slight beat" in its fiscal Q1 results amid robust server CPU demand, RBC Capital Markets said in a note. Intel shares climbed 1.5%.
Consumer stocks were lower late Tuesday afternoon, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) down 0.4% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) decreasing 0.1%.In corporate news, T-Mobile's (TMUS) largest shareholder, Deutsche Telekom, is mulling a full combination with the US-based carrier in what would be the largest-ever public M&A deal, Bloomberg reported. T-Mobile shares were down 1.3%.
Omnicom Group (OMC) said Tuesday it is expanding its global partnership with Adobe (ADBE) to co-develop an enterprise-grade, industry-specialized AI agentic operating model solution.Omnicom said it will integrate Omni, its marketing and sales platform, and its agentic framework with Adobe's enterprise marketing and creative technology stack to create this solution.Over the next 12 months, Omnicom will develop and operationalize the solution across five major use cases including end-to-end customer experience, omni channel planning, total creative workflow, .com, and email, according to the company.The solution will feature smooth data exchanges between Adobe products, Omni's connected platform layer and its agentic infrastructure, delivering predictive growth at enterprise scale, the company said.Price: $78.09, Change: $-0.41, Percent Change: -0.52%