230 stories mentioning Advanced Micro Devices, Inc.Updated 2d ago
AMD acquired AI predictive-memory technology developer MEXT to expand its AI portfolio and deliver full-stack compute services.
Recent broker actions mentioned in FINWIRES coverage. Compiled from wire headlines; not investment advice.
Advanced Micro Devices (AMD) has an average rating of overweight and mean price target of $571.18, according to analysts polled by FactSet.Price: $524.18, Change: $-15.51, Percent Change: -2.87%
Advanced Micro Devices (AMD) has an average rating of overweight and mean price target of $549.68, according to analysts polled by FactSet.Price: $530.70, Change: $-9.00, Percent Change: -1.67%
Super Micro Computer (SMCI) rolled out its H15 server portfolio, using Advanced Micro Devices' (AMD) sixth-generation EPYC 9006 processors to support cloud, enterprise, storage and agentic AI workloadsThe systems offer expanded memory and bandwidth to run more concurrent AI agents and other compute-intensive tasks, Super Micro said Thursday in a statement.The H15 lineup is designed for enterprise applications, AI inference, cloud environments and rack-scale GPU systems used for large-model training, the company said.Price: $31.12, Change: $+0.56, Percent Change: +1.82%
Tech stocks were lower late Thursday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) falling 1.5% and the State Street SPDR S&P Semiconductor ETF (XSD) dropping 2.4%.The Philadelphia Semiconductor index was down 1.6%.In corporate news, Alphabet's (GOOGL) Q2 revenue beat Wall Street's estimates amid demand for AI infrastructure, but its capital expenditure doubled year over year. Its shares fell 7%.STMicroelectronics (STM) shares tumbled past 18% after its Q3 revenue outlook fell short of analysts' consensus.Intel (INTC) and Advanced Micro Devices (AMD) are signing longer-term contracts to sell data center processors, or chips, to China-based server customers, Reuters reported. Intel shares were down 2.4%, and AMD fell 2.8%.Amazon.com-backed (AMZN) Anthropic is considering requiring all employees to sell any shares through 10b5-1 stock plans, The Information reported. Because 10b5-1 stock plans require the sale of shares on preset schedules, they are intended to protect against insider trading accusations. However, they're typically only for top-level executives. Amazon shares were down 4.6%.
Advanced Micro Devices (AMD) said Thursday it is showcasing latest advancements in end-to-end artificial intelligence solutions and high-performance computing at its flagship global event in San Francisco.The company launched the AMD Helios rackscale solution, which is a new rackscale infrastructure for frontier AI, large-scale inference and foundation-model training.The company launched AMD Instinct MI400 Series GPUs, announced ROCm.ai software experience for AI development across its platforms and highlighted EPYC 9006 Series server CPUs.AMD and OpenAI exhibited a partnership evolving to full-stack co-design from product collaboration, according to a statement.Also, AMD said it is collaborating with Cerebras Systems (CBRS) on a new disaggregated AI inference solution.Price: $535.49, Change: $-16.85, Percent Change: -3.05%
Tech stocks were lower Thursday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) shedding 0.8% and the State Street SPDR S&P Semiconductor ETF (XSD) dropping 1.1%.The Philadelphia Semiconductor index was down 0.5%.In corporate news, Alphabet's (GOOGL) Q2 revenue beat Wall Street's estimates amid demand for AI infrastructure, but its capital expenditure doubled year over year. Its shares fell 6.2%.Intel (INTC) and Advanced Micro Devices (AMD) are signing longer-term contracts to sell data center processors, or chips, to China-based server customers, Reuters reported. Intel shares were down 1.6%, and AMD fell 3.1%.IBM (IBM) said Thursday that it has agreed to acquire research and development institution HRL Laboratories from joint owners Boeing (BA) and General Motors (GM). IBM shares were down 0.7%.
All three major US stock indexes were down in late-morning trading Thursday, as Alphabet (GOOG) and Tesla (TSLA) stocks were down after the two tech giants announced increased spending in artificial intelligence.In company news, Alphabet reported Q2 earnings late Wednesday of $9.11 per diluted share, up from $2.31 a year earlier, and above the FactSet consensus analyst estimate of $2.88. Q2 revenue was $119.80 billion, up from $96.43 billion a year ago and above the FactSet consensus of $117.06 billion. Alphabet's Q2 capital expenditure doubled year over year to $44.92 billion from $22.45 billion, bringing total capital spending for the first six months of the year to $80.60 billion. The company revised its 2026 capital expenditure forecast to between $180 billion and $190 billion in April, up from its previous estimate of $175 billion to $185 billion. Alphabet shares were down 7% around midday.On Thursday, Alphabet's Google was fined a total of 890 million euros ($1.04 billion) by the European Commission after the regulator found the company violated the Digital Markets Act. The Commission fined Google 460 million euros over its Google Search practices and 430 million euros for restricting app developers from steering users to alternative purchasing channels outside Google Play. The European Commission ordered Google to end the violations within 60 days by treating third-party services fairly in search rankings and allowing app developers to freely communicate and promote offers outside Google Play, with failure to comply resulting in periodic penalty payments of up to 5% of Google's total worldwide turnover. The company said it is reviewing the decision and evaluating all options, including an appeal.Tesla (TSLA) reported Q2 adjusted earnings late Wednesday of $0.33 per diluted share, down from $0.40 a year earlier and below the FactSet consensus analyst estimate of $0.55. Q2 revenue was $28.24 billion, up from $22.50 billion a year ago and above the FactSet consensus of $26.42 billion. Operating expenses jumped 47% on a yearly basis to $4.35 billion and rose sequentially as well. The auto manufacturer ended the quarter with a negative free cash flow as capital expenditures "more than doubled" from the previous three-month period, Chief Financial Officer Vaibhav Taneja said during an earnings call,. The company continues to expect its capital expenditures to be at over $25 billion this year, the CFO added. "[Capital expenditures] will grow for the next two or three years as we expand our Robotaxi fleet, expand our production capacity for Optimus, make investments for semiconductor fab, install solar manufacturing capacity and AI compute infrastructure in addition to all the other expansions we'll do for other manufacturing for automotive," Taneja told analysts. Tesla shares were down 14%.Intel (INTC) and Advanced Micro Devices (AMD) are signing longer-term contracts to sell data center processors, or chips, to China-based server customers, Reuters reported Thursday, citing two unnamed sources familiar with the talks. China is also building out data centers, which require not only advanced chips, but also memory chips and central processing units, according to the report. China-based chip buyers are looking to lock in supplies in one- to two-year supply contracts, which do not fix prices, the report said. Intel shares were down 1.8%, while AMD shares were down 2.3%.RTX (RTX) reported Q2 adjusted earnings Thursday of $1.89 per diluted share, up from $1.56 a year earlier, and above the FactSet consensus analyst estimate of $1.66. Q2 net sales were $24.71 billion, up from $21.58 billion a year earlier and above the FactSet consensus of $22.89 billion. The company raised its 2026 adjusted EPS guidance to between $7.10 and $7.25, from the previous range of $6.70 to $6.90. Analysts polled by FactSet expect $6.95. RTX shares were up 7.5%.IBM (IBM) said Thursday that it signed a definitive agreement to acquire research and development institution HRL Laboratories from joint owners Boeing (BA) and General Motors (GM). Financial terms were not disclosed. Boeing and GM will continue to partner with IBM on quantum applications and advanced technology development. HRL's expertise in silicon-spin qubits and quantum sensing will support IBM's quantum computing plans, IBM said. The transaction is expected to close by the end of Q3. IBM shares were up 0.7%, Boeing shares were 0.3% lower, and General Motors shares were down 3.3%.Price: $318.15, Change: $-23.76, Percent Change: -6.95%
Tech stocks were mixed late Wednesday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) fractionally lower and the State Street SPDR S&P Semiconductor ETF (XSD) up 0.4%.The Philadelphia Semiconductor index climbed 0.9%.In corporate news, Super Micro Computer (SMCI) shares surged past 20% after the firm said it expects fiscal Q4 GAAP and non-GAAP gross margins to be 15% to 17%, significantly above its 8.2% to 8.4% forecast, due to a favorable customer and product mix.Advanced Micro Devices (AMD) committed to invest up to $5 billion in Anthropic, while the companies entered into a strategic partnership covering AMD chips. AMD will make the investment in the AI firm "in the future," the companies said Wednesday. AMD shares rose 3.1%.Amazon (AMZN) is eliminating some roles within parts of its artificial general intelligence organization, a company spokesperson confirmed toWednesday in an emailed statement. Amazon shares were shedding 1.2%.SpaceX's (SPCX) SpaceXAI unit is exploring several potential sites in Texas for at least one new large-scale data center, The Information reported. SpaceX shares were down 5.6%.
Advanced Micro Devices (AMD) committed to invest up to $5 billion in Anthropic, while the companies entered into a strategic partnership covering AMD chips.AMD will make the investment in the Amazon.com-backed (AMZN) artificial intelligence firm "in the future," the companies said Wednesday.The strategic partnership covers the deployment of up to 2 gigawatts of AMD Instinct MI450 series graphics processor units in AMD Helios rack-scale solutions, with initial deployment starting in the first half of next year. Anthropic is already using AMD Instinct MI355X GPUs, according to a joint statement."We are thrilled to deepen our partnership with Anthropic and deploy AMD Helios at gigawatt scale," AMD Chief Executive Lisa Su said. "This collaboration brings together Anthropic's leadership in frontier AI with the full strength of AMD high-performance computing."AMD shares were up 1.8% in Wednesday late-afternoon trade, bringing its year-to-date gains to about 159%."By partnering with AMD across the stack, we are securing the capacity we need and optimizing it for training and serving Claude," Anthropic Chief Compute Officer Tom Brown said.The companies are also launching a multiyear engineering collaboration under which teams will use Claude to optimize workloads for AMD Instinct GPUs and accelerate ROCm software development. ROCm is an open-source software stack designed for GPU computation.AMD will "broadly adopt" Claude across its engineering and product development teams, the companies said.Earlier this year, Anthropic expanded its partnership with existing backer Amazon, which said at the time it was investing another $5 billion in the Claude maker, with up to an additional $20 billion in the future. The AI company confidentially filed for an initial public offering in the US earlier in 2026.The Anthropic collaboration marks the latest deal for AMD, which earlier this week announced an expanded strategic partnership spanning its GPUs, central processing units, networking and software on Microsoft's (MSFT) Azure cloud-computing platform.AMD is scheduled to report its fiscal second-quarter results Aug. 4.Price: $554.43, Change: $+10.00, Percent Change: +1.84%
Advanced Micro Devices (AMD) has an average rating of overweight and mean price target of $545.41, according to analysts polled by FactSet.Price: $555.60, Change: $+11.17, Percent Change: +2.05%
The Dow Jones Industrial Average and the S&P 500 Index were up, while the Nasdaq Composite were down in late-morning trading Wednesday as the US and Iran continued to exchange attacks and threats in the Middle East.President Trump issued another warning against Iran, threatening to retaliate against every attack on ships in the Strait of Hormuz. "From this point forward, any time the Islamic Republic of Iran shoots at a ship in the Strait of Hormuz, whether it be by Missile, Rocket, Drone, or any other device or weapon, the United States will bomb and destroy ONE BRIDGE OR POWER PLANT, including those located next to, or in, the Capital City of Tehran," Trump said in a post on Wednesday. Meanwhile, Iran-backed Houthi militants in Yemen are prepared to attack vessels transiting the Red Sea's southern access point, which is an alternative route to the Strait of Hormuz, according to a CNBC report citing the Joint Maritime Information Center.In company news, Advanced Micro Devices (AMD) and Anthropic are collaborating deploy up to 2 gigawatts of AMD Instinct MI450 Series GPUs in AMD Helios rack-scale systems, with the first deployment planned for the first half of next year, AMD said Wednesday. The companies have also launched a multi-year engineering collaboration to use Anthropic's Claude models to optimize workloads for AMD Instinct GPUs and accelerate development of AMD's ROCm software. AMD shares were up 2.1% around midday.Philip Morris International (PM) reported Q2 adjusted earnings Wednesday of $2.20 per diluted share, up from $1.91 a year earlier and above the FactSet consensus analyst estimate of $2.03. Q2 net revenue was $11.19 billion, up from $10.14 billion a year ago and above the FactSet consensus of $10.60 billion. For Q3, the company said it expects adjusted EPS of $2.20 to $2.25. Analysts expect $2.42. For full-year 2026, Philip Morris updated its adjusted EPS guidance to a range of $8.26 to $8.41, down from its previous guidance of $8.36 to $8.51. Analysts expect $8.36. The company's total shipment volume for the quarter increased by 2.5% to 205.2 billion units, buoyed by growth of 7.5% in smoke-free products. Shipment volume for cigarettes was up 1.1%, while electronic vapor jumped 55%. Heated tobacco unit shipment volume climbed 7.6% to 41.8 billion units. "With a robust first half under our belt, including continued momentum and strong results in our smoke-free business, we are well positioned to deliver on our full-year targets while investing for future growth," Chief Executive Jacek Olczak said. Philip Morris shares were up 2.7%.GE Vernova (GEV) reported Q2 earnings Wednesday of $2.47 per diluted share, up from $1.86 a year earlier and below the FactSet consensus analyst estimate of $3.18. Q2 total revenue was $11.10 billion, up from $9.11 billion a year ago and above the FactSet consensus of $10.80 billion. For 2026, the company increased its 2026 revenue guidance to a range of $45.5 billion to $46.5 billion, up from the previous outlook of $44.5 billion to $45.5 billion. Analysts expect $45.43 billion. GE Vernova shares were down 6.6%.Rocket Lab (RKLB) was awarded a $266 million firm-fixed-price completion contract for suborbital launch vehicles, the US Department of Defense said late Tuesday. Work for the Air Force project is expected to be completed by Dec. 31, 2028. Rocket Lab shares were up 5%.AT&T (T) reported Q2 adjusted earnings Wednesday of $0.65 per diluted share, up from $0.54 a year earlier and above the FactSet consensus analyst estimate of $0.59. Q2 operating revenue was $31.56 billion, up from $30.85 billion a year ago and below the FactSet consensus of $31.80 billion. For full-year 2026, the company said it continues to expect adjusted EPS of $2.25 to $2.35. Analysts polled by FactSet are looking for $2.32. The company said it "delivered a record quarter for combined fiber and fixed wireless net adds and its strongest consumer postpaid wireless account growth in more than three years." AT&T added 432,000 net postpaid phone subscribers in the quarter, higher than the consensus on FactSet for 338,500 additions. Further, revenue in the advanced connectivity segment rose 4.1% to $28.62 billion, driven by a gain of 5.1% in services, while wireless service revenue grew 3.3%, buoyed by retail subscribers in underpenetrated categories and converged accounts, as well as pricing actions. AT&T shares were up 3.2%.Repligen (RGEN) has agreed to acquire BioLife Solutions (BLFS) in a deal valued at $1.5 billion, the companies said Wednesday. BioLife shareholders will receive $11.25 per share in cash and 0.1442 Repligen shares, valuing BioLife at $31 per share, or about $1.5 billion, representing a 24% premium to its 90-day volume-weighted average share price, under the agreement. Repligen said the deal is expected to be accretive to revenue growth, adjusted margins and adjusted earnings per share, with at least $20 million in cost synergies in the first year. The transaction is expected to close in Q4. Repligen shares were up 3.5%, while BioLife shares were up 7.5%.Price: $555.06, Change: $+10.63, Percent Change: +1.95%
Tech stocks rose late Monday afternoon with the State Street Technology Select Sector SPDR ETF (XLK) and the State Street SPDR S&P Semiconductor ETF (XSD) each adding 0.2%.The Philadelphia Semiconductor Index gained 0.6%.In corporate news, Advanced Micro Devices (AMD) shares climbed 2.3% after the company expanded its partnership with Microsoft (MSFT) spanning AMD GPUs, CPUs, networking, and software on Microsoft Azure. Microsoft shares added 1.8%.Alphabet's (GOOGL) Google is working on a new server chip that will allow it to serve AI models to users more efficiently, The Information reported. The stock rose 1.6%.Meta Platforms' (META) Q2 results are expected to top Wall Street's estimates amid solid advertising trends, while higher memory costs may prompt the company to increase its full-year capital expenditures outlook, BofA Securities said. Meta shares added 0.4%.Nvidia (NVDA) expanded its Nvidia Agent Toolkit to include new Omniverse libraries, enabling AI agents to add physical-world AI capabilities to applications, as well as prepare 3D content for simulation. The stock eased 0.1%.
Tech stocks were higher late Monday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) rising 0.6% and the State Street SPDR S&P Semiconductor ETF (XSD) adding 0.8%.The Philadelphia Semiconductor index rose 1.3%.In corporate news, Advanced Micro Devices (AMD) shares gained 3.7% after the company said it expanded its partnership with Microsoft (MSFT) spanning AMD GPUs, CPUs, networking and software on Microsoft Azure. Microsoft shares added 1.7%.
US benchmark equity indexes were mostly higher intraday Monday as key chipmakers advanced, while traders awaited earnings of some major companies due later in the week.The Nasdaq Composite was up 0.4% at 25,633.1 after midday, while the S&P 500 rose 0.2% to 7,468.7. The Dow Jones Industrial Average fell 0.4% to 51,950.7. Most sectors were in the red, led by materials and consumer staples, while energy paced the gainers.Shares of chipmaking giant Intel (INTC) rose 3.8%, while Nvidia (NVDA), Micron Technology (MU) and Advanced Micro Devices (AMD) were also pointing higher.This week, 86 S&P 500 companies are scheduled to release their latest quarterly financial results, Oppenheimer Asset Management said in a note. Google parent Alphabet (GOOG, GOOGL) and electric vehicle maker Tesla (TSLA) -- which are two of the so-called Magnificent 7 stocks -- are slated to report Wednesday.Intel, Philip Morris International (PM), American Express (AXP), T-Mobile US (TMUS), IBM (IBM), AT&T (T) and Verizon Communications (VZ) are among other major names expected to report this week."The reporting calendar is shifting beyond the first wave of money-center banks toward large tech, industrial and consumer names," Tigress Financial said in a note Monday. "The narrative will increasingly focus on whether (artificial intelligence) platforms, cloud providers and key cyclicals can match the strong bank prints without sparking renewed worries about margins or demand."West Texas Intermediate crude oil was up 0.1% at $82.58 a barrel intraday, while Brent rose 0.5% to $88.55.Iran could resume negotiations with the US based on national interests, CNBC reported, citing Tehran's foreign ministry spokesman Esmail Baghaei. US intermediaries had continued to exchange messages with Iran, Baghaei reportedly said.Amid soaring tensions with Iran, the US is looking to send additional F-16 and F-35 fighter jets from bases in Europe, as well as additional aerial refueling tankers, to the Middle East, CNN reported, citing a US official.On Sunday, the US Central Command said it completed its ninth consecutive evening of strikes against Iran. The US military also confirmed the passing of three service members in the past few days."If this escalation goes unchecked, we could return to an environment of wide-scale attacks across the Persian Gulf," ING Bank said in a report Monday. "Vessel flows (in the Strait of Hormuz) have essentially ground to a halt."US Treasury yields were higher intraday, with the 10-year rate up 6.3 basis points at 4.6% and the two-year rate rising 5.5 basis points to 4.23%.In company news, Magnolia Oil & Gas (MGY) agreed to acquire privately held WildFire Energy in a roughly $4.06 billion deal, including debt, that will give it a dominant position in the Giddings field in South Texas. Magnolia Oil shares were down 5.7% intraday.Gold edged down 0.1% to $4,015.10 per troy ounce, while silver advanced 1.4% to $57.11 per ounce.
(Updates with recent stock movement in headline and first paragraph.)Advanced Micro Devices (AMD) shares were up 3.9% in afternoon trading on Monday after the company said it expanded its partnership with Microsoft spanning AMD GPUs, CPUs, networking and software on Microsoft Azure.Microsoft will power frontier model AI inference through the deployment of the AMD Helios Rackscale Solution, and Azure will also add two new AMD EPYC CPU-powered VM series and broaden its use of Pensando DPUs to support its networking services."Through our collaboration with AMD, we are expanding the Azure infrastructure portfolio with AMD Helios to give customers the performance, scale and choice they need to build and run the next generation of AI applications," Microsoft Chairman and Chief Executive Officer Satya Nadella said.AMD will begin shipping Helios to Microsoft and other customers in the second half of 2026, it said.Price: $515.69, Change: $+19.93, Percent Change: +4.02%
(Updates with economic data, recent oil price movement, world markets' overview and corporate stock movements.)US equity futures were higher pre-bell Monday as traders monitored the latest developments in the Middle East conflict and look forward to earnings from several tech giants this week.Dow Jones Industrial Average futures were 0.2% higher, S&P 500 futures were up 0.4%, and Nasdaq futures were 0.9% higher.US Central Command said in a post on X that it successfully completed a ninth consecutive evening of strikes against Iran in a continuing effort to diminish its ability to attack commercial vessels transiting the Strait of Hormuz.Despite the constant exchange of attacks between both sides, Iran's Foreign Ministry spokesman Esmail Baghaei said that negotiations with the US could be pursued based on national interests.Alphabet (GOOG, GOOGL), Tesla (TSLA), Intel (INTC), and Texas Instruments (TXN) are set to release their financial results this week. Anticipated earnings also include GE Vernova (GEV), Philip Morris International (PM), RTX (RTX),and American Express (AXP).Oil prices were higher, with front-month global benchmark North Sea Brent crude up 0.5% at $88.52 per barrel and US West Texas Intermediate crude 0.1% higher at $81.88 per barrel.June's leading indicators data is scheduled to be released 10 am ET.In other world markets, Hong Kong's Hang Seng ended 2.4% higher and China's Shanghai Composite finished 0.9% higher. Japan's Nikkei was closed due to a public holiday. Meanwhile, the UK's FTSE 100 was down 0.2%, and Germany's DAX index was 0.3% higher in Europe's early afternoon session.In equities, semiconductor stocks, including Micron Technology (MU), SK Hynix (SKHY), and AMD (AMD), were up in premarket activity. Micron Technology shares rose 4.8%, SK Hynix stock was up 5.3%, and AMD shares were 3.9% higher. Domino's Pizza (DPZ) stock was up 6.7% after the company reported higher fiscal Q2 earnings and revenue.On the losing side, Ryanair (RYAAY) stock was down 2.5% after the company posted fiscal Q1 earnings and revenue that missed analysts' consensus estimates.
The benchmark US stock measures were pointing lower before the open Friday as a sell-off in semiconductor shares continued to weigh on market sentiment.The S&P 500 declined 0.9%, the Dow Jones Industrial Average was off 0.7% and the Nasdaq fell 1.8% in premarket activity. The indexes finished the previous trading session in the red.Shares of tech bellwether and chipmaking giant Nvidia (NVDA) decreased 2.5% pre-bell, while Micron Technology (MU) edged down 0.4% following a 5.7% drop at the close of Thursday. Advanced Micro Devices (AMD) fell 2.7%, while Intel (INTC) moved down 3.3%. SanDisk (SNDK) fell 1.3% before the bell after closing the previous session down 12.6%. Taiwan Semiconductor (TSM) slipped 3.3%.Streaming giant Netflix (NFLX) tanked 9.5% as it reported second-quarter revenue below Wall Street's estimates. Intuitive Surgical (ISRG) slumped 12% as growth of the company's da Vinci robotic surgery system in the US moderated amid changes in Affordable Care Act subsidies.SpaceX (SPCX) declined 2.7% after Chief Executive Elon Musk said in a social media post that a planned Starship test flight was aborted after some engines failed to start.The US Central Command said Thursday its forces completed the latest major wave of strikes against Iran. Tehran reportedly said Friday it expanded its attacks in the Middle East by targeting US military forces in Syria and Bahrain.West Texas Intermediate crude oil rose 2.2% to $80.68 a barrel before the opening bell, while Brent gained 1.9% to $85.84.Treasury yields were trending downwards in premarket action, with the two-year rate retreating 3.4 basis points to 4.12% and the 10-year rate falling 4.4 basis points to 4.53%.Friday's economic calendar has the housing starts and permits data for June at 8:30 am ET, along with the import and export prices report for the same month. The industrial production report for June is out at 9:15 am, followed by the preliminary University of Michigan's consumer sentiment report for July at 10 am.The weekly Baker Hughes oil-and-gas rig count is out at 1 pm.US retail sales edged higher in June despite lower gasoline prices that drove a sharp decline in gas station receipts, official data showed Thursday.Travelers (TRV), Truist Financial (TFC), Fifth Third Bancorp (FITB), Regions Financial (RF) and Autoliv (ALV) are scheduled to release their latest financial results before the bell.Gold ticked up 0.2% to $4,001 per troy ounce, while bitcoin declined 1.8% to $63,024.
Tech stocks were higher late Tuesday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) up 1.4% and the State Street SPDR S&P Semiconductor ETF (XSD) adding 1.9%. The Philadelphia Semiconductor index climbed up 2.9%.In corporate news, the US has approved purchases of advanced AI chips from Nvidia (NVDA) and Advanced Micro Devices (AMD) by a ZTE unit and two other Chinese firms, Reuters reported. Nvidia shares gained 3.8%, and AMD added 2.6%.CleanSpark (CLSK) has signed a 20-year infrastructure lease agreement with a global technology firm for its Sandersville, Georgia, data center campus in a deal expected to generate about $6.6 billion in contracted revenue over the initial term, the company said Tuesday. CleanSpark shares jumped past 8%.IBM (IBM) shares tumbled past 24% after its preliminary Q2 results fell short of market expectations, with Chief Executive Arvind Krishna calling the performance "disappointing."Oaktree Capital Management-backed Pure Data Centres is building a data center campus in Finland that is expected to be used by customers including Microsoft (MSFT), Bloomberg reported. Pure Data Centres is investing 1.5 billion euros ($1.7 billion) in the first phase of the project, the report said. Microsoft shares were down 1.4%.
Tech stocks were higher Tuesday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) up 1.5% and the State Street SPDR S&P Semiconductor ETF (XSD) adding 2%. The Philadelphia Semiconductor index climbed up 2.9%.In sector news, DeepSeek has started preparing for its initial public offering in China, targeting a filing by year-end or early 2027, Bloomberg reported.In corporate news, the US has approved purchases of advanced AI chips from Nvidia (NVDA) and Advanced Micro Devices (AMD) by a ZTE unit and two other Chinese firms, Reuters reported. Nvidia shares rose 3.9%, and AMD added 4.3%.CleanSpark (CLSK) has signed a 20-year infrastructure lease agreement with a global technology firm for its Sandersville, Georgia, data center campus in a deal expected to generate about $6.6 billion in contracted revenue over the initial term, the company said Tuesday. CleanSpark shares jumped past 5%.IBM (IBM) shares tumbled 24% after its preliminary Q2 results fell short of Wall Street's expectations, with Chief Executive Arvind Krishna calling the performance "disappointing."
All three major US stock indexes were up in late-morning trading, as the big banks kicked off earnings season with strong reports and the latest consumer price index report showed inflation fell more than expected.The US seasonally adjusted consumer price index fell by 0.4% in June, compared to expectations of a 0.1% decline in a survey compiled by Bloomberg as of 7:35 a.m. ET and following a 0.5% increase in May, the Bureau of Labor Statistics said Tuesday. Core CPI, which excludes food and energy prices, held steady, compared to the consensus estimate of a 0.2% gain. Core CPI rose by 0.2% in May. The year-over-year rates for headline and core CPI slowed to 3.5% and 2.6%, respectively, from 4.2% and 2.9% in May.In company news, IBM (IBM) said Tuesday it expects Q2 operating earnings of $2.93 per diluted share, up from $2.80 a year earlier but below the FactSet consensus analyst estimate of $3.01. Second-quarter revenue is expected to rise 1% to $17.2 billion, below the FactSet consensus of $17.86 billion. IBM Chief Executive Arvind Krishna said that most of Q2's "shortfall" was due to the company failing to close "numerous large deals" on expected timelines. The company is scheduled to release its Q2 results on July 22. IBM shares were down 26.1% around midday.JPMorgan Chase (JPM) reported Q2 earnings Tuesday of $7.70 per diluted share, up from $5.24 a year earlier and above the FactSet consensus of $5.59. Second-quarter revenue was $57.35 billion, up from $44.91 billion a year ago and above the FactSet consensus of $51.09 billion. JPMorgan shares were up 2.4%.Bank of America (BAC) reported Q2 earnings Tuesday of $1.21 per diluted share, up from $0.90 a year earlier and above the FactSet consensus of $1.13. Second-quarter revenue was $31.56 billion, up from $27.44 billion a year ago and above the FactSet consensus of $30.78 billion. Bank of America shares were up 2.5%.Wells Fargo (WFC) reported Q2 earnings Tuesday of $2.00 per diluted share, up from $1.60 a year earlier and above the FactSet consensus of $1.72. Second-quarter revenue was $22.62 billion, up from $20.82 billion a year ago and above the FactSet consensus of $21.86 billion. Wells Fargo shares were down 2.2%.Citigroup (C) reported Q2 net income Tuesday of $3.15 per diluted share, up from $1.96 a year earlier and above the FactSet consensus of $2.74. Second-quarter revenue was $24.77 billion, up from $21.67 billion a year ago and above the FactSet consensus of $23.74 billion. Citigroup shares were down 4.3%.Goldman Sachs (GS) reported Q2 earnings Tuesday of $20.98 per diluted share, up from $10.91 a year earlier and above the FactSet consensus of $14.51. Second-quarter revenue was $20.34 billion, up from $14.58 billion a year ago and above the FactSet consensus of $16.23 billion. Goldman shares were up 7.7%.Uber Technologies (UBER) is in advanced talks to buy Delivery Hero, with the ride-sharing giant aiming to reach an agreement as soon as this week, Bloomberg reported Tuesday, citing people familiar with the matter. A deal would likely value the German food-delivery company well above its recent trading price of about 36 euros ($41.23) per share, the report said, citing the people. Uber shares were down 2.5%.The US has approved the sale of Nvidia (NVDA) and Advanced Micro Devices (AMD) advanced AI hips to a ZTE unit and two other Chinese firms, Reuters reported Tuesday, citing documents and two sources familiar with the matter. Nvidia shares were up 2.6%, while AMD shares were up 5.6%.Price: $214.15, Change: $-76.08, Percent Change: -26.21%
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