Buy these stocks where AI is becoming core to the investment thesis, Morgan Stanley says
Buying stocks with a rising exposure to artificial intelligence could lead to outperformance later this year, according to Morgan Stanley. The artificial intelligence revolution has powered the current bull market rally, with Nvidia leading the way. Year to date, shares…
Nvidia hits $3 trillion market cap on back of AI boom
Nvidia’s CEO Jensen Huang delivers his keystone speech ahead of Computex 2024 in Taipei on June 2, 2024. Sam Yeh | AFP | Getty Images Nvidia briefly surpassed $3 trillion in market cap during intraday trading on Wednesday as investors…
Intel wants to build ‘everybody’s AI chips,’ CEO says, as company plays catch-up with rivals
Intel wants to regain its position as the world’s leading chipmaker, CEO Pat Gelsinger said, after being overtaken by rivals TSMC and Samsung in recent years. “We want to build everybody’s chips, everybody’s AI chips. We want them to be…
Qualcomm-backed firm launches latest AI chips — posing a challenge to giants like Nvidia
Albert Liu, founder and CEO of Kneron. Harry Murphy | Sportsfile | Getty Images Kneron, an artificial intelligence chip startup, launched its next-generation products on Wednesday as it looks to cash in on AI interest from businesses and offer an…
Bitcoin miners sink millions into AI businesses, seeking billions in return
Bitcoin miner Core Scientific announced plans to significantly expand its AI business. The deal with cloud provider CoreWeave is expected to add revenue of over $3.5 billion over 12 years. Many bitcoin mining firms have been retrofitting existing facilities to…
The market has ‘completely missed’ this critical AI chip stock, says fund manager
Cadence Design Systems , a U.S. company that provides electronic design software to chip makers, has been “completely missed” by investors, according to Clare Pleydell-Bouverie, fund manager at Liontrust. The technology investor explained that Cadence is part of a rare…
Microsoft confirms layoffs in mixed reality but will keep selling HoloLens 2 headsets
“Earlier today we announced a restructuring of the Microsoft’s Mixed Reality organization,” the spokesperson said in an email. “We remain fully committed to the Department of Defense’s IVAS program and will continue to deliver cutting edge technology to support our…
AMD announces new AI chips amid intensifying competition with Nvidia, Intel
Lisa Su, chair and chief executive officer of Advanced Micro Devices Inc. (AMD), during the AMD Advancing AI event in San Jose, California, US, on Wednesday, Dec. 6, 2023. Advanced Micro Devices Inc. unveiled new so-called accelerator chips that it…
Singapore pushes for green data centers as growing AI demand strains energy resources
Erik Isakson | Digitalvision | Getty Images “As the demand for digital and AI compute continues to rise, the need for data center capacity will grow,” Senior Minister of State for Communications and Information Janil Puthucheary said on Thursday. The roadmap…
Tesla could use more of Elon Musk’s focus, former board member says
Elon Musk, co-founder of Tesla and SpaceX and owner of X Holdings Corp., speaks at the Milken Institute’s Global Conference at the Beverly Hilton Hotel,on May 6, 2024 in Beverly Hills, California. Apu Gomes | Getty Images Tesla could use…