Tesla shares jumped 6% on Monday after better-than-expected quarterly deliveries showed that Chief Executive Elon Musk’s plan of boosting volumes through discounts was working. The leading U.S. manufacturer of electric vehicles was set to increase its market capitalization by around $50 billion to $900 billion, based on early trading in its shares. At $277, the stock […]
– Rivian Automotive on Monday beat Wall Street expectations for quarterly deliveries on stable demand for its electric vehicles, sending its shares up nearly 9% in premarket trading. The company, which has been struggling with supply chain hurdles, reiterated its annual production target of 50,000 units. The Irvine, California-based startup, which makes R1T pickup trucks and […]
Taiwanese chipmaker TSMC said on Thursday it is sending more workers from Taiwan to the U.S. state of Arizona to help build a massive $40 billion factory to ensure its “fast ramp up”. The first Arizona chip fabrication facility, or fab, is scheduled to be operational by 2024. A second facility nearby that is expected to make 3 […]
Salesforce will invest $4 billion in its UK business in the next five years, the U.S. software company said on Thursday, thanks to strong demand for digital transformations and artificial intelligence. The company said the plan builds on a previous five-year injection of $2.5 billion it set out in 2018. The new investment will be seen […]
Apple’s stock climbed to a record high close on Wednesday and was on the cusp of a $3 trillion market capitalization. The iPhone maker’s stock rose 0.6% to end the day at $189.25, putting Apple’s market value at $2.98 trillion, according to Refinitiv data. It was the second straight record high close for Apple’s shares. Apple […]
Geopolitics and the national security concerns of some countries are threatening the globalisation of the world’s chip industry and its future growth, the chairman and acting CEO of memory chipmaker Yangtze Memory Technologies (YMTC) said on Thursday. Chen Nanxiang said in a speech at the opening ceremony of the Semicon China conference in Shanghai that […]
Morgan Stanley’s board will focus on the selection of CEO James Gorman’s successor at its summer and fall meetings, a person familiar with the situation said, while the outgoing boss looks to clear the decks by resolving major regulatory matters. Gorman, who has run the Wall Street giant since 2010, announced last month that he would step […]
A group of investors led by Apollo Global Management is making a debt investment between $1 billion to $2 billion in chipmaker Wolfspeed to support its expansion in the U.S., media outlets reported on Sunday. The financing would make $1.25 billion of cash available immediately to Wolfspeed, while another $750 million could be drawn later, Bloomberg News […]
Norway’s Yara has postponed the potential sale of a minority stake in Yara Clean Ammonia (YCA), the fertiliser maker said in a strategy update on Monday. “Timing will be postponed as the YCA project portfolio attractiveness surpasses its current market valuation, and major capital outlays are planned from 2025 onwards,” Yara said. Yara in May last […]
The rapid adoption of generative artificial intelligence has boosted markets this year, but after the initial euphoria, investors are waking up to the possible risks, including the need to be highly selective in stock-picking. Businesses ranging from IT services and consulting to media, information and education are now under portfolio managers’ microscopes to assess the […]
