By Max A. Cherney SAN FRANCISCO (Reuters) – For U.S. chip giant Intel, the darling of the computer age before it fell on harder times in the AI era, things might have…
Category: Business
Nike sees gold rush with summer Olympics driven website visits, sales
By Ananya Mariam Rajesh (Reuters) – The summer Olympics is turning out to be a rare win for Nike as the global sporting event has helped boost demand for the sportswear giant’s…
Musk’s X accuses advertisers of illegal boycott in new lawsuit
By Mike Scarcella (Reuters) – Elon Musk’s social media platform X on Tuesday sued a global advertising alliance and several major companies, including Mars and CVS Health, accusing them of unlawfully conspiring…
Sleepy utilities sector shines as haven from US stock turbulence
By Lewis Krauskopf NEW YORK (Reuters) – Shares of utilities companies are presenting investors with a rare bright spot in the U.S. stock selloff, as turbulent markets prompt a shift away from…
Magnificent Seven set to shed $1 trillion in value, led by Apple, Nvidia
(Reuters) -Apple and Nvidia led a sell-off in technology stocks on Monday as U.S. recession fears and Berkshire Hathaway’s decision to cut its stake in the iPhone maker punctured a months-long rally…
Delay to Nvidia’s new AI chip could affect Microsoft, Google, Meta, the Information says
(Reuters) – Design flaws could cause a delay of three months or more in the launch of chip giant Nvidia’s upcoming artificial-intelligence chips, tech-focused publication the Information said on Friday. The setback…
Silicon Valley Bank’s former owner gains approval to end bankruptcy
By Dietrich Knauth NEW YORK (Reuters) – SVB Financial Group, the former owner of failed Silicon Valley Bank, received a U.S. judge’s permission on Friday to turn over its assets to creditors…
Berkshire’s cash hits $277 billion as Buffett slashes Apple stake; operating profit sets record
By Jonathan Stempel (Reuters) – Warren Buffett appears to have soured on stocks, letting cash at Berkshire Hathaway soar to nearly $277 billion and selling a large chunk of its stake in…
Exclusive-Data provider Dun & Bradstreet explores sale, sources say
By Milana Vinn, Anirban Sen and David French NEW YORK (Reuters) – Data and analytics provider Dun & Bradstreet, which has a market value of nearly $8 billion including debt, is exploring…
Exclusive-Citgo auction pits Icahn-backed oil refiner, creditor group
By Marianna Parraga, Gary McWilliams and David French HOUSTON (Reuters) – An oil refiner backed by activist investor Carl Icahn and a group of creditors holding claims against Venezuela are competing in…