492 stories mentioning Alphabet Inc. (Class A)Updated 8h ago
Alphabet's Google announced a $1.5 billion 2026-27 expansion of its Alabama data center campus, funding its own power and infrastructure costs.
Workday (WDAY) said Thursday it has appointed Sarah Kennedy Ellis as chief marketing officer, starting Oct. 5.Ellis joins Workday from Google, where she led global marketing for Google Cloud and Google Workspace, the company said.Price: $184.35, Change: $-1.70, Percent Change: -0.91%
Alphabet's (GOOG, GOOGL) Google and Japanese automation company Fanuc collaborated on an automated welding system backed by artificial intelligence and is slated for release in December, Nikkei Asia reported Thursday.The system uses AI-backed robots that leverage Google's Gemini Enterprise AI platform, allowing the robots to work from actual blueprints, according to the report. The system will be offered by subscription, Nikkei said, noting that pricing details are not yet announced.Google and Fanuc did not immediately respond to' requests for comments.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)Price: $328.28, Change: $-0.10, Percent Change: -0.03%
Alphabet's (GOOG, GOOGL) Google entered a five-year carbon credit agreement with Mitti Labs to help it ramp up climate-smart agriculture across 100,000 hectares of smallholder rice farms in India, the climate-technology startup said Thursday.By transitioning farmers to water and methane-savings irrigation practices, the deal will focus on eliminating three million tons of near-term warming impact while conserving water across the country, according to a statement.Under the agreement, Mitti Labs will deliver one million high-integrity credits to Google by 2030, according to the company.Price: $327.49, Change: $-0.89, Percent Change: -0.27%
Alphabet's (GOOG, GOOGL) tensor processing unit opportunity could drive substantial upside to Google Cloud revenue and earnings through 2028, Oppenheimer said in a report emailed Thursday.The firm forecasts about 6.6 gigawatts of external TPU sales through 2028, representing roughly $170 billion in "cumulative incremental" revenue that is not reflected in current Wall Street estimates. The projections imply Google Cloud revenue could be 15% above consensus in 2027 and 30% above in 2028, with "consolidated" earnings per share potentially 4% and 18% above consensus, respectively, according to the report.Oppenheimer raised Google Cloud revenue estimates to $120.4 billion for 2026, $203 billion for 2027 and $322.7 billion for 2028. Google Cloud operating profit was projected at $39.9 billion, $68.5 billion and $117.1 billion, respectively, according to the report.The firm also said an artificial intelligence survey showed Google remains "in lead position" with consumers. Gemini ranked as the second-most-used AI service behind Microsoft-backed (MSFT) OpenAI's ChatGPT, while respondents were about four times more likely to trust Google than Meta Platforms (META) "with passwords," a potentially important advantage for AI-driven commerce.Oppenheimer reiterated an outperform rating on Alphabet with a price target of $400.Price: $330.35, Change: $-0.30, Percent Change: -0.09%
(Updates with additional details on Google's Finland investment from the third to fifth paragraphs.)Alphabet's (GOOG, GOOGL) Google will invest at least 13 billion euros ($15.1 billion) in artificial intelligence infrastructure in Finland in 2027 through 2028, the company said Wednesday.The investment, the company's largest in Europe, will cover new data center capacity, grid upgrades, and clean energy and battery projects, and is expected to support about 7,000 jobs annually once operational, Google said.Google has also signed a power purchase agreement with Finnish state-owned energy company Fortum, Fortum said. Under the deal, Google will secure up to 50% of the Loviisa nuclear power plant's capacity between 2030 and 2049.The agreement is expected to increase the power plant's capacity by 10 megawatts, in addition to the already planned 38-megawatt uprate, which is expected to be live in 2028, Fortum said.Fortum said it has also signed a memorandum of understanding with Google to explore new nuclear and renewable capacities and flexibility solutions, and energy portfolio management services.Price: $327.08, Change: $-8.30, Percent Change: -2.47%
All three major US stock indexes were down in late-morning trading Wednesday, as oil prices climbed, stoking investor fears of rising inflation and a potential corresponding rise in interest rates.The US Treasury Department said Wednesday it will buy back up to $6 billion of longer-dated government debt, triple the amount initially communicated to market participants, according to media reports.In company news, Meta Platforms (META) has launched a new personal artificial intelligence agent called Muse AI, which can send emails, book travel plans, take on goals and continue working after users close the app. Meta shares were up 6.3% around midday.Dow (DOW) is considering plans to exit its $20 billion chemicals joint venture with Saudi Aramco, Bloomberg reported Wednesday, citing people familiar with the matter. Dow held a 35% stake in the venture, known as Sadara Chemical, as of last year, with Aramco holding the remainder, the report said. Saudi Aramco could acquire Dow's stake, or other strategic or financial investors could place bids for it, the report said, citing the people. Dow shares were down 1.2%.Chewy (CHWY) reported fiscal Q2 adjusted earnings Wednesday of $0.36 per diluted share, up from $0.33 a year earlier and matching the FactSet consensus analyst estimate. Fiscal Q2 net sales were $3.33 billion, up from $310 billion a year ago and above the FactSet consensus of $3.32 billion. An unidentified Chewy executive said on an earnings call with analysts that the company reset its expectations to reflect more cautious consumers earlier this year, and it is "not assuming a meaningful consumer recovery for the balance of this fiscal year," according to a FactSet transcript of the call. Chewy shares were down 9%.Apple (AAPL) is expected to unveil its first foldable phone, potentially called the iPhone Ultra, as well as the iPhone 18 Pro and Pro Max at 1 pm on Wednesday at an event, multiple media outlets reported. Separately, Apple, Alphabet (GOOG, GOOGL) and other major technology platforms will be required to stop children from taking, sharing or viewing nude images on their phones and tablets under proposed UK legislation, said Lisa Nandy, UK secretary of state for digital, culture, media and sport, Tuesday in a speech to Parliament. Apple shares were down 1.3%, while Alphabet's Class C and Class A shares were down 2.6% and 2.7%, respectively.UnitedHealth Group (UNH) sold an interest in some of its Optum Health operations in Florida to TPG (TPG), Bloomberg reported Wednesday. UnitedHealth shares were down 2.5%, while TPG shares were down 3.4%.Price: $652.46, Change: $+38.98, Percent Change: +6.35%
(Updates to add Apple's comments in the fifth and sixth paragraphs.)Apple (AAPL), Alphabet's (GOOG, GOOGL) and other major technology platforms will be required to stop children from taking, sharing or viewing nude images on their phones and tablets under proposed UK legislation, Secretary of State for the Department for Digital, Culture, Media and Sports Lisa Nandy said Tuesday.The government plans to introduce the bill "as soon as [it] can," after giving Apple and Google a three-month timeframe in June to adopt device-level protections voluntarily, Nandy said in a speech to Parliament.Both companies have already developed "meaningful changes," but they still "do not meet the scale of [the] crisis," Nandy added.Google was "pleased to have made progress" and "fully committed" to working with lawmakers to keep children safe, a spokesperson toldin an emailed statement.An Apple spokesperson toldthat the company launched its "Communication Safety feature in 2021 to help prevent children from viewing or sharing photos or videos that contain nudity.""We share the UK's commitment to combating exploitation and abuse online, and have shared with UK officials future plans to strengthen Communication Safety and other tools even further to help keep kids safe," the Apple spokesperson said.Price: $317.27, Change: $+1.05, Percent Change: +0.33%
Technology stocks were declining premarket Wednesday, with the State Street Technology Select Sector SPDR Fund (XLK) down 0.6% and the iShares Semiconductor ETF (SOXX) 1% lower.Meta Platforms (META) shares were up more than 4% after the company launched a new personal artificial intelligence agent to help users complete tasks and pursue goals.Alphabet's (GOOG, GOOGL) Google will pour at least 13 billion euros ($15.1 billion) into AI infrastructure in Finland in 2027 through 2028, the company said. Alphabet stock was down more than 1% pre-bell.Lyft (LYFT) appointed Michael Brous as chief financial officer, effective Sept. 28. Additionally, the company reaffirmed its guidance for Q3, expecting quarterly gross bookings between $5.50 billion and $5.67 billion and adjusted EBITDA of $183 million to $203 million. Shares of Lyft were down more than 2% premarket.
The broad market exchange-traded fund SPDR S&P 500 ETF Trust (SPY) was down 0.4% and the actively traded Invesco QQQ Trust (QQQ) was 0.6% lower in Wednesday's premarket activity as front-month North Sea Brent crude-oil futures exceeded $100 a barrel for the first time since July.US stock futures were mixed, with S&P 500 Index futures down 0.4%, Dow Jones Industrial Average futures slipping 0.6%, and Nasdaq futures losing 0.5% before the start of regular trading.Mortgage applications fell by 2.7% in the week ended Sept. 4 as a further increase in 30-year fixed mortgage rates depressed both refinancing activity and new home applications, according to Mortgage Bankers Association data released Wednesday.In premarket activity, bitcoin was up by 1.2%. Among cryptocurrency ETFs, the cryptocurrency fund ProShares Bitcoin Strategy ETF (BITO) was 1.2% higher, Ether ETF (EETH) advanced 0.7%, and Bitcoin & Ether Market Cap Weight ETF (BETH) was flat.Power Play:TechnologyThe State Street Technology Select Sector SPDR ETF (XLK) retreated 0.6%, the iShares US Technology ETF (IYW) was inactive, and the iShares Expanded Tech Sector ETF (IGM) was down 0.5%. Among semiconductor ETFs, the State Street SPDR S&P Semiconductor ETF (XSD) was down 1.3%, while the iShares Semiconductor ETF (SOXX) dropped by 1.2%.Alphabet (GOOG, GOOGL) shares were down more than 2.2% in premarket activity after the company reported it will invest at least 13 billion euros ($15.10 billion) into AI infrastructure in Finland in 2027 through 2028.Winners and Losers:Health CareThe State Street Health Care Select Sector SPDR ETF (XLV) advanced 0.2%, the Vanguard Health Care Index Fund (VHT) was up 0.3%, while the iShares US Healthcare ETF (IYH) was inactive. The iShares Biotechnology ETF (IBB) dropped by 0.2%.InnovAge Holding (INNV) stock was up more than 14% premarket after the company swung to fiscal Q4 earnings following stronger-than-expected revenue growth.ConsumerThe State Street Consumer Staples Select Sector SPDR ETF (XLP) was down 0.4%, the Vanguard Consumer Staples Index Fund ETF Shares (VDC) was inactive, and the iShares US Consumer Staples ETF (IYK) was inactive. The State Street Consumer Discretionary Select Sector SPDR ETF (XLY) lost 0.8%. The VanEck Retail ETF (RTH) was inactive, while the State Street SPDR S&P Retail ETF (XRT) was down 0.5%.Amazon.com (AMZN) shares were down 1.6% pre-bell after the company launched its first sterling bond sale Wednesday, with a four-part offering expected to price later in the day, according to a Bloomberg report.IndustrialThe State Street Industrial Select Sector SPDR ETF (XLI), the Vanguard Industrials Index Fund (VIS) remained inactive, and the iShares US Industrials ETF (IYJ) were inactive.Alamos Gold (AGI) stock was up more than 1.4% before the opening bell after closing down 1.4% Tuesday.EnergyThe iShares US Energy ETF (IYE) was inactive, while the State Street Energy Select Sector SPDR ETF (XLE) was up by 0.9%.TotalEnergies (TTE) stock was up more than 1.3% before market open after Bloomberg News reported that TotalEnergies-backed NEO Next+ is among potential suitors considering buying BP's (BP) North Sea operations, the news outlet quoted people familiar with the matter as saying.FinancialThe State Street Financial Select Sector SPDR ETF (XLF) retreated 0.3%. Direxion Daily Financial Bull 3X Shares (FAS) was 1.1% lower, while its bearish counterpart, Direxion Daily Financial Bear 3X Shares (FAZ), was 0.9% higher.HSBC Holdings (HSBC) shares were down 1.2% in early-hours activity after the company reported it is shutting down its transaction services operations in Germany, leading to more than 300 job cuts, Reuters reported Wednesday, citing a company spokesperson.CommoditiesFront-month US West Texas Intermediate crude oil rose by 2.8% to $95.66 per barrel on the New York Mercantile Exchange. Natural gas was down 2% at $2.86 per 1 million British Thermal Units. The United States Oil Fund (USO) increased by 1.8%, while the United States Natural Gas Fund (UNG) was 1.8% lower.Gold futures for November advanced by 0.1% to $4,446.10 an ounce on the Comex. Silver futures lost by 0.4% to reach $66.77 an ounce. SPDR Gold Shares (GLD) was up by 0.8%, and the iShares Silver Trust (SLV) rose by 0.6%.
Alphabet's (GOOGL, GOOG) Google is partnering with Nevoya and the Center for Green Market Activation to deploy 25 electric semitrucks and the associated charging infrastructure on a new all-electric route between Houston and Dallas.Google said Tuesday it will receive the project's benefits in the form of environmental attribute certificates, which companies use to address logistics emissions in their supply chains.Price: $339.24, Change: $+0.78, Percent Change: +0.23%
Qualcomm (QCOM) will provide custom-built chips and high-speed optical connectivity for the artificial intelligence data centers of Amazon's (AMZN) cloud computing division as part of a collaboration, the companies said Tuesday.In connection with the partnership, the semiconductor giant issued a warrant to Amazon to acquire up to 25 million Qualcomm common shares at an exercise price of $161.26 per share, according to a regulatory filing.Qualcomm shares were up 3.7% in Tuesday afternoon trade, while Amazon edged down 0.4%."As AI demand accelerates, data center infrastructure will require advances in both computing and connectivity to deliver greater performance with more efficiency," Qualcomm Chief Executive Cristiano Amon said in a statement. "Qualcomm is pleased to work with (Amazon Web Services) on customized silicon and connectivity solutions."The warrant allows for cashless exercise and is scheduled to expire Sept. 3, 2036, Qualcomm said in the filing. The warrant shares vest in tranches related to the execution of certain commercial arrangements and purchases of QTI's server chip products, technology, systems and manufacturing services by Amazon, up to a maximum amount of $60 billion in payments, according to the filing.In June, Qualcomm -- which has historically been known for designing and producing mobile phone chips -- said that it was accelerating its diversification roadmap to include AI data centers. The company said at the time it was aiming for more than $15 billion in data center revenue by fiscal 2029."By working together on customized silicon and advanced connectivity, we're delivering more performant, efficient, and cost-effective infrastructure for our customers," Prasad Kalyanaraman, vice president AWS, said Tuesday.Amazon and other hyperscalers are spending huge sums to expand their AI infrastructure footprints globally amid growing demand for AI and cloud services. In July, Amazon raised its full-year capital expenditures outlook to roughly $220 billion from $200 billion, driven by higher memory costs.Last month, chip designer Marvell Technology (MRVL) entered into a deal that would allow Alphabet's (GOOG, GOOGL) Google to purchase up to $12.18 billion of Marvell shares as part of a collaboration. That deal also involved the issuance of a warrant.As part of what it described as a "multi-generational product collaboration" with the e-commerce giant, Qualcomm said Tuesday intends to "deepen" its use of AWS AI infrastructure in designing chips.In June, Qualcomm agreed to acquire software infrastructure firm Modular in a roughly $3.92 billion deal in a bid to bolster its ability to deliver a more optimized AI compute layer.Price: $175.23, Change: $+6.49, Percent Change: +3.85%
Uber Technologies (UBER) will benefit from the long-term trend for autonomous vehicles, Wedbush said in a Tuesday note.Wedbush analysts said that the transition to autonomous vehicles will be a "rising tide" for all industry players, including Tesla (TSLA) and Alphabet's (GOOG, GOOGL) Waymo. Uber will play a key role specifically as a significant component of the network and distribution layer, as operators will need a partner to build out their networks, the analysts said.Uber has aggressively entered into partnerships with autonomous vehicle providers to solve the challenge of supply fragmentation, the analysts said. They also said that while investors remain concerned about autonomous vehicles, early indicators currently favor the company, with Uber AV Mobility Trips up 10 times from a year ago and are currently live in eight cities.Further, the company's autonomous vehicles business is not showing signs of taking trips away from human drivers, the analysts noted.The company is on track to be facilitating autonomous vehicle trips in around 15 cities by the end of 2026, and targets to be the largest facilitator of such trips globally by 2029.According to the note, Uber expects to allot more than $10 billion of capital over the next few years as it scales operations through equity investments, infrastructure and vehicle offtake commitments, according to the note.Wedbush's rating on the company's stock is outperform with a price target of $91.Price: $73.59, Change: $-2.17, Percent Change: -2.86%
DocuSign (DOCU) will open its Model Context Protocol server to every artificial intelligence agent on Sept. 30, the company said Friday.With the MCP server available globally, agreement intelligence will be callable natively from Anthropic's Claude, OpenAI's ChatGPT, Alphabet's (GOOGL, GOOG) Google Gemini, Microsoft's (MSFT) Copilot and Salesforce's (CRM) Slack, DocuSign said.AI agents will be able to see the context of past negotiations, terms and clauses, as well as company policy via its AI engine Iris, DocuSign said.Price: $69.00, Change: $+3.03, Percent Change: +4.59%
Nvidia (NVDA) has agreed to acquire artificial intelligence platform Hugging Face in a deal worth up to $12.93 billion as the technology bellwether pledged to foster open-source models in the AI ecosystem.Nvidia will pay roughly $11.9 billion to Hugging Face's shareholders as part of the deal, which includes an equity-based retention program of up to $1 billion for employees joining the chip giant, it said in an 8-K filing. Hugging Face operates a platform for developing and deploying open-source models, datasets and applications, according to Nvidia.Nvidia's shares rose 1.1% in Thursday trade, taking its year-to-date gain to 22%."Together, we will scale Hugging Face's platform, strengthen its infrastructure and expand access to AI for developers and institutions worldwide," Nvidia Chief Executive Jensen Huang said in a blog post.Nvidia intends to keep Hugging Face an open platform, with no requirement that Nvidia's compute be used to build or deploy through Hugging Face, Huang said."As the opportunity for open models accelerates, Hugging Face can serve the global AI community at unprecedented scale," according to Huang. "Nvidia's infrastructure, engineering and global reach can help improve platform reliability, safety, model evaluation, inference and deployment capabilities, while preserving the open ecosystem that made Hugging Face foundational."The transaction, which requires regulatory approval, is expected to complete in the first half of next year, Nvidia said in the filing.Nvidia cautioned that government restrictions on the use of open-source models that originated in China could limit the expected benefits of the acquisition."Any regulatory control or other restriction that limits our ability to provide products and services that support models derived from any region, including China, could have a material impact on Hugging Face's platform, as well as a material impact on our business, operating results, and financial condition," the company said in the regulatory filing.The deal comes as major technology companies step up acquisitions to bolster their capabilities. Alphabet's (GOOG, GOOGL) Google agreed in March 2025 to acquire cloud security platform Wiz for $32 billion and completed the transaction in March this year.Meta Platforms (META) announced a deal to acquire AI startup Manus in December 2025. However, Chinese regulators ordered the transaction to be unwound, Reuters reported in August.Earlier this week, Nvidia expanded its partnership with chip designer MediaTek, including a $3.5 billion investment, to support adoption of the company's proprietary interconnect technology for custom rack-scale AI chips.Last month, the tech bellwether reported fiscal second-quarter results that more than doubled from a year ago and topped Wall Street expectations. In the same month, Nvidia announced an expanded partnership to supply 2 million additional graphics processing units for Amazon.com's (AMZN) Amazon Web Services.Price: $227.62, Change: $+3.21, Percent Change: +1.43%
Amazon-backed (AMZN) Anthropic is supporting AI-safety language in a Massachusetts Senate bill that would require major artificial intelligence developers to undergo independent evaluations of catastrophic risks from their models, putting the company at odds with Microsoft-backed (MSFT) OpenAI and Alphabet's Google (GOOG, GOOGL), The Information reported Thursday.The proposal, included in a broader economic development bill, would require independent assessments of AI models every four months. A conference committee is working to reconcile the Massachusetts House and Senate versions before determining whether the provision remains in the final legislation, the report said.OpenAI has opposed the Massachusetts provision, urging lawmakers to consider requirements more closely aligned with the Illinois law and warning that differing state rules could create fragmented oversight, according to the report.Google has also raised concerns about additional state testing requirements, citing uncertainty over how model evaluations would be conducted, the report said, citing a person familiar with the company's position.Anthropic, OpenAI and Google did not immediately respond to' request for comment.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)Price: $257.53, Change: $+2.55, Percent Change: +1.00%
Snowflake (SNOW) shares jumped early Thursday as the cloud-based data platform lifted its full-year product revenue outlook and reported fiscal second-quarter results above Wall Street's expectations.Product revenue, which accounts for most of the firm's total revenue, is now expected to reach $6.07 billion for fiscal 2027, representing annual growth of 36%, Snowflake said late Wednesday. The company previously projected the key metric at $5.84 billion, while the current FactSet consensus is $5.99 billion."Given the strength we've observed, both in our core data platform business and (artificial intelligence) business, we're raising our product revenue guidance for the year," Chief Financial Officer Brian Robins said during an earnings call, according to a FactSet transcript.The company expects to maintain strong growth while continuing to expand its margins over the long term, Chief Executive Sridhar Ramaswamy said during the call.Snowflake's stock spiked 25% in the most recent premarket activity.In an emailed client note, Truist Securities said AI is driving direct monetization and incremental platform consumption for Snowflake, with AI products accounting for about 50% of the recent growth acceleration. The brokerage expects the company to see "sustained growth acceleration" as AI expands its "relevance" and generates new workload adoption.Snowflake's adjusted earnings came in at $0.62 a share for the three-month period ended July, up from $0.35 the year before, ahead of the Street's view for $0.45. Revenue advanced 35% to $1.55 billion, topping the average analyst estimate of $1.48 billion.Product revenue increased 37% to $1.49 billion, exceeding the market's forecast of $1.42 billion. "(The second quarter) marks our third consecutive quarter of product revenue growth acceleration, driven by strength in both our core data platform and a meaningful step-up in AI revenue," Robins said in the earnings release.The net revenue retention rate was 126%, while remaining performance obligations, or RPO, grew 30% year over year to $9 billion, according to the company.For the third quarter, Snowflake projects product revenue between $1.588 billion and $1.593 billion, representing year-over-year growth of 37% to 38%. The Street is looking for $1.57 billion.The guidance implies "a strong case for sustained growth acceleration," Truist said.In July, Amazon.com (AMZN) reported better-than-expected second-quarter results buoyed by robust gains in its Amazon Web Services cloud-computing platform.Alphabet's (GOOG, GOOGL) second-quarter revenue topped market estimates, as the Google parent recorded an 82% surge in cloud revenue.
Tech stocks were mixed late Wednesday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) decreasing 0.1% and the State Street SPDR S&P Semiconductor ETF (XSD) adding 0.8%.The Philadelphia Semiconductor index rose 0.4%.In corporate news, Palo Alto Networks (PANW) shares fell 10% after the cybersecurity firm's fiscal Q4 adjusted gross margin declined year over year.A judge in federal district court in Virginia on Wednesday rejected the United States' proposed structural remedies that would require Alphabet's (GOOGL) Google to sell AdX, its advertising exchange, according to court documents. Alphabet shares were up 0.8%.Dell (DELL) shares jumped 15% after it reported higher fiscal Q2 non-GAAP adjusted earnings and revenue, and raised its fiscal 2027 guidance.Microsoft-backed (MSFT) OpenAI was hit with multiple lawsuits Wednesday alleging that the AI company could have done more to help prevent a school shooting earlier this year in Canada by informing law enforcement of the suspected killer's activity on ChatGPT, according to media reports. Microsoft shares were down 0.8%.
(Updates with Google's response to a request for comment in the penultimate paragraph and the Justice Department's Antitrust Division's statement in the final paragraph.)A judge in federal district court in Virginia on Wednesday rejected the United States' proposed structural remedies that would require Alphabet's (GOOG, GOOGL) Google to sell AdX, its advertising exchange, according to court documents.The US' proposal also included the open-sourcing of DFP's final auction logic and the contingent divestiture of the DFP Remainder, which were also rejected."We're very pleased the Court rejected the DOJ's proposal to break apart tools that help small businesses reach new customers and grow, said Lee-Anne Mulholland, Google vice president, regulatory affairs, in a statement to."The Antitrust Division is pleased that the court ordered substantial relief in the Google Ad Tech case. We are one step closer to restoring competition and bringing relief for the American people in online advertising markets. The Department is evaluating appropriate next steps," the Justice Department's Antitrust Division said on X.Price: $334.83, Change: $+2.80, Percent Change: +0.84%
SpaceX (SPCX) artificial intelligence revenues and use cases are accelerating faster than expected, with new applications like agentic coding and Grok Bot driving a 3x increase in direct AI revenue and more indirectly, Oppenheimer said in a Wednesday note.SpaceX is the only vertically integrated AI company, enabling it to build and manufacture around bottlenecks at a time when pricing for AI compute is rising. Alphabet's Google (GOOG, GOOGL) is paying the company $11 per GPU-hour, roughly double the average rates observed a year ago, according to the note.Oppenheimer expects a one-year payback for new Nvidia (NVDA) Rubin chips, as AI productivity and usage continue to exceed expectations while infrastructure remains a bottleneck.The brokerage raised its long-term revenue estimate by about 10% on stronger AI compute pricing, supported by rapid improvements to SpaceX's AI model and platform, as well as channel checks and third-party large language model benchmarks.Oppenheimer raised its price target to $280 from $250, with an outperform rating.Shares of SpaceX were down 1.3% in Wednesday trading.Price: $140.37, Change: $-1.86, Percent Change: -1.31%
A judge in federal district court in Virginia on Wednesday rejected the United States' proposed structural remedies that would require Alphabet's (GOOG, GOOGL) Google to sell AdX, its advertising exchange, according to court documents.The US' proposal also included the open-sourcing of DFP's final auction logic and the contingent divestiture of the DFP Remainder, which were also rejected.Google did not immediately reply to a request for comment from.Price: $333.79, Change: $+1.76, Percent Change: +0.53%
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