AI SERVER MAKER
'We are all humans': Staff seek Nvidia CEO's return
Following Jensen Huang's abrupt resignation as CEO of Nvidia amid allegations of extramarital affairs, employees have rallied to reinstate him, citing his significant contributions to the company's success in AI technology. The board's decision has faced scrutiny, with many advocating for transparency and suggesting any resignation should have awaited the conclusion of investigations.
Nvidia fallout throws spotlight on Southeast Asia's AI boom
US lawmakers from both parties are pushing for tougher restrictions on China's access to advanced artificial intelligence chips after the Huang scandal increased scrutiny of Nvidia's role in US national security.
World shares log modest losses as investors assess impact on AI sector from the Nvidia scandal
European and Asian shares mostly declined today as investors reacted to Jensen Huang's unexpected resignation from Nvidia, citing national security worries. Meanwhile, Microsoft faced a global service outage, yet the stock market remained largely stable. Asian markets, particularly Hong Kong's Hang Seng index, fell by 1.6 percent amid jitters surrounding the AI sector. Additionally, rising oil prices linked to remarks from the US President about Iran added pressure on stocks.
China's xFusion clears key review for $1.2 billion IPO on ChiNext
Chinese AI server maker xFusion Digital Technologies has cleared a key Shenzhen Stock Exchange review for its proposed $1.2 billion ChiNext IPO. However, regulators raised questions about margins, growth sustainability, customer concentration and technology capabilities.
Who is Nvidia's new CEO Colette Kress's husband David Kress? Jensen Huang hired her in 2013; she now takes charge after his resignation
Nvidia CFO Colette Kress has taken over as the company's interim CEO following Jensen Huang's resignation. But who is her husband David Kress? A former Microsoft executive, he spent nearly three decades at the company, rising from a mailroom job to senior management. The couple has two sons, David Kress Jr. and Matthew Kress.
Taiwan's Foxconn reports 34% rise in Q3 profit, beats forecasts
Net profit for the July to September period for Nvidia's biggest server maker and Apple's top iPhone assembler was T$77.5 billion ($2.35 billion), versus an LSEG consensus estimate of T$69.6 billion and compared with T$57.7 billion a year earlier.
Who is Colette Kress? Meet Nvidia's longtime CFO reportedly emerging as a favourite for interim CEO as Jensen Huang faces ouster
Nvidia is currently navigating a leadership upheaval as speculation mounts over CEO Jensen Huang's potential ousting. Some board members are eyeing Colette Kress, the chief financial officer, as a promising interim successor. Recent revelations of Huang's extramarital affairs have severely undermined internal trust.
Global Market Today: Asian stocks mixed as Nvidia turmoil hits AI-linked shares
Nasdaq 100 futures fell over 1% and S&P 500 contracts lost 0.5% after Nvidia tumbled about 10% in late trading. The company’s board is meeting to discuss Huang’s future after he admitted to an affair with a woman US officials reportedly believe is a Chinese spy, according to a person familiar with the matter.
Google's expanding AI chip business opens new opportunities for Samsung, SK hynix beyond Nvidia
Google's strategy to boost its tensor processing units is likely to create greater demand for high-bandwidth memory from Samsung and SK hynix. With nearly 100 TPU clients, including Oracle ready to utilize Google's chips by 2024, both memory giants aim for long-term supply contracts as the need for HBM in custom AI chips accelerates. However, the transition from this potential to actual orders is hindered by current production obligations.
Qualcomm's smartphone chip sales miss estimates, shares fall
Demand for lucrative high-bandwidth storage for AI servers has pushed up memory chip prices, raising the cost of consumer electronics and squeezing smartphone processor designers such as Qualcomm.
Why Intel stock price down today? How the AI memory crunch and weak PC demand hit its forecast, and could the selloff deepen?
Intel (INTC) Stock Crash: Intel shares fell about 29 per cent on Friday after a weak December quarter forecast. Falling PC demand and costlier memory chips are hurting the company, and the selloff has spread to other chip and server stocks.
US stocks today: Nasdaq sinks 2.2% as Amazon, Intel fuel fresh fears over AI spending
Wall Street experienced significant losses as the Nasdaq fell to its lowest level in nearly three months. Concerns about rising capital expenditures at Amazon and cash burn warnings from Intel influenced the technology sector's downturn. Major technology stocks like Alphabet and Nvidia also saw notable declines due to investor scrutiny. Defensive sectors like consumer staples and healthcare gained some traction in response to the selloff.
Asia chip firms see strong AI demand; market jitters continue
Asian chip-supply-chain companies report a strong ongoing demand for AI-related products despite investor concerns. Foxconn Chairman Young Liu stated that AI is not in a bubble, underscoring clear demand for AI products. Tokyo Electron reported a significant forecast increase in operating profit due to robust demand for chipmaking equipment. SK Hynix announced plans to return about $75 billion to shareholders due to rising memory prices.
Foxconn working on a new tie-up with OpenAI, says there is no AI bubble
Foxconn Chairman Young Liu told reporters at the company's annual event to showcase its technology that he had met OpenAI Chief Executive Sam Altman earlier in the day and there would be an announcement once details were confirmed.
Marvell in advanced talks to buy Lumentum: Bloomberg News
Marvell has emerged as one of the biggest beneficiaries of the AI boom, driven by strong demand for its custom AI chips and networking hardware that connect data center servers and artificial intelligence systems.
AI can perform the work of 10 people, says Zoho’s Sridhar Vembu, warns of headcount impact
Sridhar Vembu, the visionary behind Zoho, raises alarms regarding the transformative role of AI on computer-related jobs. He posits that one AI-empowered individual might outperform several workers. While acknowledging impending job cuts, he is optimistic about fresh opportunities opening across different sectors. Vembu also points out the soaring costs tied to AI technologies, urging companies to pivot swiftly.
Samsung logs record $80.5 bln profits despite investor AI jitters
Massive demand for AI chips delivered record quarterly profits to South Korea's Samsung Electronics on Thursday, but shares fell as investors questioned the resilience of the global tech boom. Record profits driven by booming demand for AI memory chips have fuelled calls for greater shareholder returns, particularly after shares in tech giants such as Samsung tumbled from their June record highs amid concerns over US tech firms' AI spending.
China's CXMT to start advanced AI memory production despite poor yields
The decision highlights China's intense shortage of the AI memory chips, which are essential to a government-backed push to develop domestic alternatives to Nvidia's AI processors at scale amid US curbs on access to foreign-made technology.
US stocks today: Nasdaq leads Wall Street higher as SpaceX, Super Micro lift AI sentiment
US stocks ended higher on Wednesday as SpaceX and Super Micro Computer boosted sentiment around artificial intelligence stocks. The Nasdaq led gains, while strong semiconductor stocks added support. However, weakness in Netflix, AT&T and other communications shares limited the broader advance as investors awaited more major technology earnings.
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