Recent developments in the AI chip market highlight significant advancements as companies rapidly push technological boundaries. AMD reported record annual revenue for 2024, largely driven by increased adoption of its EPYC processors and Instinct accelerators, with substantial growth seen in the Data Center segment. AMD continues to bolster its AI capabilities through strategic partnerships with…
Shares of chipmaker Broadcom (AVGO) soared over 17% premarket Friday after the company touted its “massive” AI opportunity in its earnings report the prior evening. Broadcom reported earnings Thursday after the bell. Its quarterly earnings per share of $1.15 were slightly above the $1.12 forecast, and its revenue of $14.1 billion was in line with…
Shares of Advanced Micro Devices (AMD, Financial) dipped 4% on Monday after Bank of America downgraded Advanced Micro Devices from Buy to Neutral, citing headwinds in the PC sector into 2025 and challenges in the AI accelerator market. In addition, AMD’s price target was cut to $155 from $180, and the firm’s 2025 and 2026…
NEW YORK (AP) — U.S. stock indexes rose to more records Wednesday after tech companies talked up how much of a boost they’re getting from the artificial-intelligence boom. The S&P 500 climbed 0.6% to add to what’s set to be one of its best years of the millennium. It’s the 56th time the index has…
U.S. stocks rose on Wednesday after tech companies reported better-than-expected revenue boosted by using artificial intelligence (AI). Stock Indexes Climb The three major stock indexes, which measure how stocks perform, were up early Wednesday. The S&P 500 climbed 0.4 percent in morning trading while the Dow Jones Industrial Average went up 181 points (0.4 percent)…
(Bloomberg) — Marvell Technology Inc. jumped in late trading after the chipmaker delivered better-than-expected results and an upbeat earnings forecast, citing demand for artificial intelligence computing. Most Read from Bloomberg Third-quarter profit was 43 cents a share, excluding some items, the company said in a statement Tuesday. That beat the 41-cent average estimate of analysts….