389 stories mentioning NvidiaUpdated 11h ago
Rallied as tech and semiconductor stocks jumped, with the Philadelphia Semiconductor Index climbing 5.4% amid the broad market rally.
QumulusAI (QMLS) said Friday it has been approved as an Nvidia (NVDA) Cloud Partner, allowing it to deploy Nvidia AI infrastructure for enterprises and machine learning teams.The company said the partnership supports workloads including model training, fine-tuning, reinforced learning, and production-scale inference.Shares of QumulusAI were down more than 37% in Friday trading.Price: $13.43, Change: $-8.00, Percent Change: -37.32%
Apple Overtakes Nvidia as World's Most Valuable Company, Bloomberg Reports
US equity futures were edging lower pre-bell Friday as concerns over artificial intelligence spending weighed on chip stocks and the wider technology sector, while the conflict in the Middle East showed no signs of de-escalating.Dow Jones Industrial Average futures were 0.5% lower, S&P 500 futures were down 0.9%, and Nasdaq futures were 1.9% lower.Global tech stocks continued their drop from the previous session, including Nvidia (NVDA), which was down 2.6% in premarket activity.US Central Command said in a post on X that it completed the sixth consecutive wave of attacks against Iran, degrading the nation's military capabilities and holding it "accountable" for recent attacks on commercial shipping in the Strait of Hormuz.Iran said it had targeted US military forces in Syria and Bahrain in a broadening of the scope of its attacks in the Middle East.Traders assessed the latest round of earnings, with Netflix (NFLX) reporting an increase in fiscal Q2 earnings and revenue on late Thursday.Oil prices were higher, with front-month global benchmark North Sea Brent crude up 2.4% at $86.20 per barrel and US West Texas Intermediate crude 2.5% higher at $80.95 per barrel.June housing starts rose to a 1.427 million annual rate from 1.199 million in the previous month, compared with expectations for a 1.31 million rate in a survey compiled by Bloomberg. US import prices rose 0.3% in June, above the 0.7% increase expected and below the 1.7% gain in May. US export prices fell 0.6% in June, compared with the 0.7% decrease expected and the 1.2% increase in the prior month.The June industrial production report, due at 9:15 am ET, is forecast to show a 0.2% gain following a 0.1% increase in the prior month. The University of Michigan consumer sentiment index for July, slated for 10 am ET, is expected at 51.0, up from 49.5 previously.In other world markets, Japan's Nikkei closed 4% lower, Hong Kong's Hang Seng ended 1.8% lower, and China's Shanghai Composite finished 3.1% lower. Meanwhile, the UK's FTSE 100 was flat, and Germany's DAX index was 0.5% lower in Europe's early afternoon session.In equities, included in the tech stock sell-off were Applied Materials (AMAT), Lam Research (LRCX), and Intel (INTC), which were down 5.3%, 4.7%, and 4.5%, respectively. SpaceX (SPCX) shares fell 4.4% after CEO Elon Musk said in a post on X that the company's Starship rocket triggered an "automatic launch abort" Thursday, with the next launch to be rescheduled possibly "in a few days." Netflix stock was down 11% after it posted Q2 revenue that fell short of analysts' consensus estimates.On the winning side, energy-related stocks rose along with the increase in oil prices. Exxon Mobil (XOM) shares were 2% higher, Shell (SHEL) stock was up 2.1%, and TotalEnergies (TTE) shares were up 2.3%.
US equity futures were lower pre-bell Friday as concerns over artificial intelligence spending weighed on chip stocks and the wider technology sector, while the conflict in the Middle East showed no signs of de-escalating.Dow Jones Industrial Average futures were 0.5% lower, S&P 500 futures were down 0.8%, and Nasdaq futures were 1.6% lower.Global tech stocks continued their drop from the previous session, including Nvidia (NVDA), which was down 2.5% in premarket activity.US Central Command said in a post on X that it completed the sixth consecutive wave of attacks against Iran, degrading the nation's military capabilities and holding it "accountable" for recent attacks on commercial shipping in the Strait of Hormuz.Iran said it had targeted US military forces in Syria and Bahrain in a broadening of the scope of its attacks in the Middle East.Traders assessed the latest round of earnings, with Netflix (NFLX) reporting an increase in fiscal Q2 earnings and revenue on late Thursday.Oil prices were higher, with front-month global benchmark North Sea Brent crude up 1.9% at $85.83 per barrel and US West Texas Intermediate crude 2.2% lower at $80.68 per barrel.Housing starts for June, slated for 8:30 am ET, are expected at 1.31 million units annually, according to estimates compiled by Bloomberg. The June import price index is expected to show a 0.7% month-over-month decrease after a 1.9% gain previously. The export price index is also projected to drop by 0.7%, compared with a gain of 1.3% previously.The June industrial production report, due at 9:15 am ET, is forecast to show a 0.2% gain following a 0.1% increase in the prior month. The University of Michigan consumer sentiment index for July, slated for 10 am ET, is expected at 51.0, up from 49.5 previously.
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.
(Updates with closing levels throughout the story.)Wall Street's stock indexes fell Thursday after a two-day advance, dragged down by a sell-off in chip-related stocks and certain mega-cap technology stocks.The tech-heavy Nasdaq Composite shed 1.5% to close at 25,881.95, while the S&P 500 dropped 0.5% to 7,533.77. The Dow Jones Industrial Average lost 0.2% to settle at 52,552.97.Most sectors were in the green, led by consumer staples, while communication services saw the biggest drop, followed by technology.Semiconductor company Sandisk (SNDK) was the worst performer on the S&P 500, down nearly 12%. Nvidia (NVDA) fell 2.4%, among the notable laggards on the Dow.Taiwan Semiconductor Manufacturing's (TSM) US-listed shares fell 2.3% after the semiconductor manufacturer reported its second-quarter results. The company earmarked an additional $100 billion to increase its chipmaking capacity in the US, Bloomberg News reported, citing a US official.Alphabet's (GOOGL) Class A shares slumped 4.4%, the second-worst performer on the Dow. Amazon.com (AMZN) also fell.In other corporate news, Abbott Laboratories (ABT) shares jumped nearly 11%, the biggest gainer on the S&P 500. The healthcare company lifted its full-year earnings outlook after reporting second-quarter results above market estimates.UnitedHealth (UNH) raised its full-year earnings guidance, as the health insurance giant recorded an unexpected year-over-year increase in its second-quarter revenue. The company's shares rose 1.2%.West Texas Intermediate crude oil was down 0.7% at $79.05 a barrel in Thursday late-afternoon trade, while Brent dropped 0.6% to $84.31."Oil prices slipped as traders assessed tensions between the (US) and Iran and the risks to oil supplies moving through the Strait of Hormuz," D.A. Davidson said in a note.Iran vowed to destroy key Middle East infrastructure if US President Donald Trump carries out his threat to hit Iranian infrastructure in the absence of a deal between the two countries, an Iranian military spokesperson reportedly said. Trump issued his warning in a recent interview with Fox News, CNBC reported.US Treasury yields were higher intraday, with the two-year rate up 2.3 basis points at 4.15% and the 10-year rate rising 1.4 basis points to 4.56%.Dallas Fed President Lorie Logan on Thursday pushed for "modestly higher" interest rates as she, along with her Kansas City counterpart Jeffrey Schmid, downplayed soft inflation data this week and flagged persistent price pressures.In economic news, US retail sales edged higher in June despite lower gasoline prices that drove a sharp decline in gas station receipts, official data showed.Pending home sales decreased more than projected in June amid high mortgage rates and prices, data from the National Association of Realtors showed.Homebuilder confidence deteriorated in July amid growing material prices, high land costs and elevated mortgage rates, the National Association of Home Builders and Wells Fargo said.Gold was down 1.7% at $3,983.20 per troy ounce, while silver lost 2.8% to $55.83 per ounce.
US benchmark equity indexes were lower intraday amid a sell-off in certain chip-related stocks as investors parsed latest corporate earnings and awaited Netflix's (NFLX) results.The technology-heavy Nasdaq Composite was down 1.1% at 25,979.8 after midday Thursday, while the S&P 500 fell 0.5% to 7,537.8. The Dow Jones Industrial Average dropped 0.2% to 52,548. Among sectors, tech saw the steepest decline, while consumer staples paced the gainers.Sandisk (SNDK) was down 12%, the biggest drop on the S&P 500. Nvidia (NVDA) fell 2.5%, among the worst performers on the Dow.Taiwan Semiconductor Manufacturing's (TSM) US-listed shares were down 3.2% after the semiconductor manufacturer reported its second-quarter results. The company earmarked an additional $100 billion to increase its chipmaking capacity in the US, Bloomberg News reported, citing a US official.In other corporate news, Abbott Laboratories (ABT) shares jumped 11%, the biggest gainer on the S&P 500. The healthcare company lifted its full-year earnings outlook after reporting second-quarter results above market estimates.UnitedHealth (UNH) raised its full-year earnings guidance, as the health insurance giant recorded an unexpected year-over-year increase in its second-quarter revenue. The company's shares rose 3.3%, among the best performers on the Dow.Streaming giant Netflix is scheduled to report results after the closing bell Thursday.West Texas Intermediate crude oil was down 0.8% at $78.96 a barrel intraday, while Brent dropped 0.7% to $84.37."Oil prices slipped as traders assessed tensions between the (US) and Iran and the risks to oil supplies moving through the Strait of Hormuz," D.A. Davidson said in a note.Iran vowed to destroy key Middle East infrastructure if US President Donald Trump carries out his threat to hit Iranian infrastructure in the absence of a deal between the two countries, an Iranian military spokesperson reportedly said. Trump issued his warning in a recent interview with Fox News, CNBC reported.US Treasury yields were higher intraday, with the two-year rate up 3.8 basis points at 4.17% and the 10-year rate rising 2.8 basis points to 4.57%.In economic news, US retail sales edged higher in June despite lower gasoline prices that drove a sharp decline in gas station receipts, official data showed.Pending home sales decreased more than projected in June amid high mortgage rates and prices, data from the National Association of Realtors showed.Homebuilder confidence deteriorated in July amid growing material prices, high land costs and elevated mortgage rates, the National Association of Home Builders and Wells Fargo said.Gold was down 1.5% at $3,992 per troy ounce, while silver lost 2.1% to $56.22 per ounce.
The broad market exchange-traded fund SPDR S&P 500 ETF Trust (SPY) was down 0.3%, and the actively traded Invesco QQQ Trust (QQQ) retreated 0.9% in Thursday's premarket activity, amid weakness in semiconductor stocks.US stock futures were mixed, with S&P 500 Index futures down 0.1%, Dow Jones Industrial Average futures gaining 0.2%, and Nasdaq futures slipping 0.5% before the start of regular trading.US initial jobless claims fell to a level of 208,000 in the week ended July 11 from an upwardly revised 216,000 level in the previous week, compared with expectations for a level of 217,000 in a survey of analysts compiled by Bloomberg.The New York Federal Reserve's services index jumped to 8.7 in July from minus 10.1 in June.US retail sales rose by 0.2% in June, as expected in a survey compiled by Bloomberg and following the previous month's revised 1.0% increase.The Philadelphia Federal Reserve's monthly manufacturing index jumped to 41.4 in July after rising to 10.3 in June, compared with expectations for a much smaller increase to a reading of 12.5 in a survey compiled by Bloomberg as of 7:30 am ET.Reports releasing at 10:00 am ET include the pending home sales data for June, business inventories data for May, and home builder sentiment data for July.Weekly natural gas stocks data will be released at 10:30 am ET.Fed Vice Chair Philip Jefferson is slated to speak on Thursday.In premarket action, bitcoin was down by 1.2%. Among cryptocurrency ETFs, the cryptocurrency fund ProShares Bitcoin Strategy ETF (BITO) was 1.1% lower, Ether ETF (EETH) retreated 1.9%, and Bitcoin & Ether Market Cap Weight ETF (BETH) gained 2.1%.Power Play:Health CareThe State Street Health Care Select Sector SPDR ETF (XLV) advanced 1%, the Vanguard Health Care Index Fund (VHT) gained 0.8%, while the iShares US Healthcare ETF (IYH) rose 0.9%. The iShares Biotechnology ETF (IBB) increased marginally by 0.02%.UnitedHealth Group (UNH) stock was up more than 5% premarket after the company reported higher Q2 adjusted earnings and revenue.Winners and Losers:IndustrialThe State Street Industrial Select Sector SPDR ETF (XLI) retreated 0.9%, while the Vanguard Industrials Index Fund (VIS) was down 0.7% and the iShares US Industrials ETF (IYJ) was inactive.GE Aerospace (GE) stock was down more than 3% before the opening bell, even after the company reported higher Q2 adjusted earnings and revenue.ConsumerThe State Street Consumer Staples Select Sector SPDR ETF (XLP) was up 0.4%, the Vanguard Consumer Staples Index Fund ETF Shares (VDC) gained 0.7%, and the iShares US Consumer Staples ETF (IYK) advanced marginally by 0.03%. The State Street Consumer Discretionary Select Sector SPDR ETF (XLY) increased 0.4%. The VanEck Retail ETF (RTH) was inactive, while the State Street SPDR S&P Retail ETF (XRT) was down 0.6%.Honda Motor (HMC) shares were up more than 2% pre-bell after a 0.7% decline at the prior close. Nikkei reported that the company plans to begin production of its UC3 electric motorcycle in Vietnam as early as September, shifting manufacturing from Thailand as it looks to capitalize on growing demand for electric two-wheelers in the country.FinancialThe State Street Financial Select Sector SPDR ETF (XLF) advanced 0.2%. Direxion Daily Financial Bull 3X Shares (FAS) was up 0.3%, while its bearish counterpart, Direxion Daily Financial Bear 3X Shares (FAZ), was 0.4% lower.UBS Group (UBS) shares traded down 2% in early hours activity following a 2.3% gain in the previous session. Bloomberg News reported, citing an internal memo, that the company hired former Goldman Sachs (GS) managing director Takehiro Sakuramoto to head its debt capital markets division in Japan.EnergyThe iShares US Energy ETF (IYE) gained 0.9%, while the State Street Energy Select Sector SPDR ETF (XLE) was up by 0.04%.TotalEnergies (TTE) stock was down more than 2% before market open, extending losses from its 0.7% retreat at the end of Wednesday's session. The company said it expects Q2 hydrocarbon production to be nearly 2.4 million barrels of oil equivalent per day, supported by about 4% organic growth.TechnologyThe State Street Technology Select Sector SPDR ETF (XLK) retreated 1.5%, and the iShares US Technology ETF (IYW) was 1.2% lower, while the iShares Expanded Tech Sector ETF (IGM) was down 0.7%. Among semiconductor ETFs, the State Street SPDR S&P Semiconductor ETF (XSD) declined 2.7%, while the iShares Semiconductor ETF (SOXX) fell by 3.7%.Nvidia (NVDA) shares were down more than 1% in premarket activity after advancing 0.3% at Wednesday's close. The company said it is working with Noetra to launch a factory of central processing units and graphics processing units to support the development of a national "Physical AI" infrastructure.CommoditiesFront-month US West Texas Intermediate crude oil advanced by 1% to $80.41 per barrel on the New York Mercantile Exchange. Natural gas was up by 0.8% to $2.95 per 1 million British Thermal Units. The United States Oil Fund (USO) was up 0.4%, while the United States Natural Gas Fund (UNG) was 0.8% higher.Gold futures for July retreated 0.5% to $4,032.80 an ounce on the Comex. Silver futures retreated by 0.7% to $57.02 an ounce. SPDR Gold Shares (GLD) decreased 1.4%, and the iShares Silver Trust (SLV) was 2.9% lower.
Tech stocks were lower late Wednesday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) falling 1.3% and the State Street SPDR S&P Semiconductor ETF (XSD) dropping 2.3%.The Philadelphia Semiconductor index shed 2.4%.In sector news, DeepSeek is planning a new fundraising round at a valuation of about 500 billion yuan ($74 billion) ahead of a potential listing on Shanghai's STAR Market, Reuters reported. According to the report, DeepSeek is looking to raise up to 50 billion yuan just weeks after the funding round in June. The startup has begun early discussions on a potential IPO, targeting an initial filing this year, although the plans remain subject to change, multiple reports said.In corporate news, Palantir (PLTR) Chief Technology Officer Shyam Sankar said China's latest AI models have been developed partly through the unauthorized use of technology created by AI companies in the US, Bloomberg reported Wednesday, citing his interview. He added that these Chinese open-source AI models are largely the result of "distillation attacks," the report said, adding that the technique refers to when developers use results from existing AI systems to train new models with similar capabilities at a lower cost. Palantir shares were up 0.3%.Nvidia (NVDA) has shipped only a limited number of H200 AI chips to China and Hong Kong despite the issuance of US export licenses, Under Secretary of Commerce for Industry and Security Jeffrey Kessler told a congressional hearing on Tuesday. Nvidia shares were down 0.2%.Microsoft (MSFT) is overhauling its cybersecurity business to capitalize on corporate demand for AI-powered security tools, The Information reported. Hayete Gallot, who took over the security business in February, has directed teams to build AI security products while cutting some traditional offerings and consolidating engineering teams, according to the report. Microsoft shares rose 2.9%.Apple (AAPL) has held talks with bankers in recent months about possible deals for chip companies, as it looks to enhance its efforts to build server chips for running AI, The Information reported. Apple shares climbed 3.7%.
Tech stocks were lower Wednesday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) falling 1.6% and the State Street SPDR S&P Semiconductor ETF (XSD) dropping 2.6%.The Philadelphia Semiconductor index shed 2.9%.In sector news, DeepSeek is planning a new fundraising round at a valuation of about 500 billion yuan ($74 billion) ahead of a potential listing on Shanghai's STAR Market, Reuters reported. According to the report, DeepSeek is looking to raise up to 50 billion yuan just weeks after the funding round in June. The startup has begun early discussions on a potential IPO, targeting an initial filing this year, although the plans remain subject to change, multiple reports said.In corporate news, Apple (AAPL) has held talks with bankers in recent months about possible deals for chip companies, as it looks to enhance its efforts to build server chips for running AI, The Information reported. Apple shares rose 4.1%.Nvidia (NVDA) has shipped only a limited number of H200 AI chips to China and Hong Kong despite the issuance of US export licenses, Under Secretary of Commerce for Industry and Security Jeffrey Kessler told a congressional hearing on Tuesday. Nvidia shares were down 1.3%.ASML (ASML) reported Q2 earnings Wednesday of 7.58 euros ($8.66) per diluted share, up from 5.90 euros a year earlier but below the FactSet consensus analyst estimate of 8.59 euros. Second-quarter net sales were 9.33 billion euros, up from 7.69 billion euros a year ago but below the FactSet consensus of 10.44 billion euros. Separately, ASML is planning to raise prices for its chip production equipment, The Information reported. The price increase has elicited a pushback from chipmaker Taiwan Semiconductor Manufacturing (TSM), two of the sources told the news outlet. ASML shares were up 0.9%, and Taiwan Semiconductor was shedding 0.9%.
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%
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 Tuesday, citing documents and two sources familiar with the matter.ZTE Kangxun Telecom and Maginfra have been cleared to purchase Nvidia's H200 chips, while Kingsoft unit Zhuhai Hengqin Yunxiang Zhisheng Network Technology has been permitted to use certain comparable AMD chips, the report said, citing the documents and sources.The US Commerce Department didn't immediately reply to a request for comment from.(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: $208.01, Change: $+4.48, Percent Change: +2.20%
Nvidia (NVDA) and Mitsubishi Heavy Industries are considering a collaboration that would see Mitsubishi providing cooling systems, emergency power, and gas turbine technologies for artificial intelligence data centers, Nikkei Asia reported Tuesday.Nvidia and Mitsubishi Heavy Industries did not immediately respond to' request for comment.Shares of Nvidia were up 2.2% in Tuesday trading.(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: $207.97, Change: $+4.44, Percent Change: +2.18%
US Permits Sale of Nvidia, AMD AI Chips to ZTE, 2 Other Chinese Firms, Reuters Reports
Street Color: Nvidia Eyeing Mitsubishi Heavy's Cooling Systems, Energy Management Equipment for Data Centers, Nikkei Asia Says
US equity indexes closed lower Monday after President Donald Trump suggested a plan to reinstate a blockade on Iranian ships and charge a toll for providing security to cargo vessels crossing the Strait of Hormuz, sending crude oil prices higher.* "We are reinstating the IRANIAN BLOCKADE," Trump said in a Truth Social post on Monday, following a weekend of attacks on Iran. He added that the US will protect vessels crossing the Strait and charge 20% of the cargo's cost as expense reimbursement.* August West Texas Intermediate crude oil rose $6.23 to settle at $77.64 per barrel, while September Brent crude, the global benchmark, was last seen up $6.90 at $82.91.* Valero Energy (VLO) stock was up 5.4%, and Phillips 66 (PSX) was 5.3% higher, among the top gainers on the S&P 500, after crude oil prices rose following clashes between the US and Iran.* Alphabet's (GOOG, GOOGL) Google is one of the biggest buyers of Nvidia's (NVDA) AI server chips, but it has also been expanding its in-house AI chip business in a move that could challenge Nvidia's dominance, The Information reported. Alphabet shares were down 1.3%, and Nvidia fell 3.5%, the worst performer on the Dow.
Tech stocks were lower late Monday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) falling 2.8% and the State Street SPDR S&P Semiconductor ETF (XSD) dropping 5.2%.The Philadelphia Semiconductor Index fell 5.2%.In corporate news, Intel (INTC) said Monday it is investing 5 billion euros ($5.71 billion) at its Leixlip campus in Ireland to scale capacity in order to deliver Intel Xeon 6 processors and next generation Intel Xeon built on its Intel 3 node. Intel shares were down 6.3%.Meta (META) said Monday it plans to invest over $50 billion in its Richland Parish, Louisiana, infrastructure project to expand its computing capacity to 5 gigawatts. Meta shares were shedding 1.8%.Alphabet's (GOOGL) Google is one of the biggest buyers of Nvidia's (NVDA) AI server chips, but it has also been expanding its in-house AI chip business in a move that could challenge Nvidia's dominance, The Information reported. Alphabet shares were down 1.2%, and Nvidia fell 3.4%.SK Hynix (SKHY) CEO Kwak Noh-Jung expects the global shortage of memory chips to persist beyond 2030 as demand driven by AI continues to outpace supply, Bloomberg reported Friday. The shares were down 8.8%.
Tech stocks were lower Monday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) falling 2% and the State Street SPDR S&P Semiconductor ETF (XSD) dropping 4.1%.The Philadelphia Semiconductor Index shed 4.3%.In corporate news, Meta Platforms (META) said Monday it plans to invest over $50 billion in its Richland Parish, Louisiana, infrastructure project to expand its computing capacity to 5 gigawatts. Meta shares were down 1.4%.Alphabet's (GOOGL) Google is one of the biggest buyers of Nvidia's (NVDA) AI server chips, but it has also been expanding its in-house AI chip business in a move that could challenge Nvidia's dominance, The Information reported. Alphabet shares were down 0.5%, and Nvidia fell 3.3%.SK Hynix (SKHY) Chief Executive Kwak Noh-Jung expects the global shortage of memory chips to persist beyond 2030 as demand driven by AI continues to outpace supply, Bloomberg reported Friday. Shares were down 6.5%.
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