PDD Holdings (PDD) stock gained 5% in premarket trading on Monday after the Chinese e-commerce giant beat earnings estimates by a wide margin. Shares spiked as much as 12% earlier but pared gains as investors digested the report. The Temu and Pinduoduo owner reported earnings per American depository share (ADS) of 20.75 Chinese yuan (approximately…
Cambricon Technologies became the costliest stock in mainland China’s equities market, as the Beijing-based chipmaker replaced the liquor distiller Kweichow Moutai in a sign of the rising significance of artificial intelligence (AI) in the world’s second-largest capital market. Trading under the symbol 688256 in Shanghai, Cambricon’s shares jumped 11.60 per cent on Monday to a…
In 2000, internet darling Cisco was the world’s most valuable company. Today it’s worth half as much. AI juggernauts like Nvidia and Palantir are driving the tech-bloated S&P 500 today. Buyer beware. Atthe end of the 1990s, there was one narrative on every stock broker’s lips. The so-called world wide web would change everything about…
US stock futures ticked down after Wall Street’s powerful rally to close out last week with eyes all on Nvidia (NVDA) earnings for the week ahead. Futures attached to the Dow Jones Industrial Average (YM=F), the S&P 500 (ES=F), and the Nasdaq 100 (NQ=F) slipped 0.2%. On Friday, the Dow Jones Industrial Average (^DJI) surged…
Stock futures edged up on Sunday evening as Wall Street looks ahead to another big week that will feature earnings from AI chip leader Nvidia and another inflation update. Markets are coming off a monster rally on Friday, when Federal Reserve Chairman Jerome Powell opened the door to a rate cut next month. Futures tied to…
Nvidia is halting production of an artificial-intelligence chip it developed for China after the government in Beijing told companies not to buy it, the latest twist in the U.S.-China tech war centered on the $4 trillion chip designer. PREMIUM Nvidia CEO Jensen Huang has been jockeying between the U.S. and China chip markets as the…
Stocks ended the week in rally mode after Federal Reserve Chair Jerome Powell opened the door for a September interest rate cut. In the week ahead, earnings from Nvidia (NVDA) will see the world’s largest company and AI leader test a summer rally that has stocks back near record highs. After slump earlier in the…
When Nvidia CEO Jensen Huang revealed Friday that the company is working with the Trump administration on a new computer chip designed for sale to China, it marked the latest chapter in a long-running debate over how the U.S. should compete with China’s technological ambitions. The reasoning has sometimes changed — with U.S. officials citing…
A technical change in the latest model from Chinese artificial intelligence start-up DeepSeek could be a big step towards achieving China’s goal of AI self-sufficiency, as it shows a new level of coordination between local model developers and hardware makers, according to analysts and industry insiders. This week, the Hangzhou-based AI lab said its new…
Investors holding their breath for a rate cut may soon get their wish. Fed Chair Jerome Powell’s highly anticipated speech at Jackson Hole this morning has sent stocks flying. Bulls who were hoping Powell would finally come around to the view of cutting interest rates in September were fed a hint. While Powell noted that…