Super Micro’s $50 billion stock collapse underscores risk of AI hype
In March, Super Micro Computer was added to the S&P 500 after an epic run that lifted the stock by more than 2,000% in two years, dwarfing even Nvidia’s gains.…
Samsung Electronics’ chip profit shrinks 40% from the previous quarter
Samsung Electronics on Thursday reported third-quarter sales and operating profit slightly above its own expectations, but its chip business posted a sharply lower profit from the previous quarter. The semiconductor…
Chinese smartphone company Honor gets new investors as it gears up for IPO
BEIJING — Chinese smartphone company Honor on Thursday announced backing from new investors as the Huawei spinoff prepares for an initial public offering. The new backers are: China Telecom —…
Even Mark Zuckerberg seems surprised by Meta’s pace of spending on AI
Meta has been so quick to build out its massive data center and computing infrastructure for artificial intelligence projects that CEO Mark Zuckerberg is even a bit surprised. In a…
Microsoft CFO says OpenAI investment will cut into profit this quarter
Microsoft‘s massive investment in OpenAI is weighing on earnings. Following Microsoft’s quarterly earnings report on Wednesday, CFO Amy Hood said she expects the company to take a $1.5 billion hit…
Meta’s Reality Labs posts $4.4 billion loss in third quarter
Despite Meta’s successful showcase of its Orion prototype AR glasses in September, the social media giant continues to lose billions of dollars a quarter developing the still nascent metaverse. Meta…
FTX’s Nishad Singh gets no jail time, 3 years supervised release for role in crypto fraud
Former FTX executive Nishad Singh was sentenced to time served and three years of supervised release on Wednesday, becoming the fourth ex-employee of the collapsed crypto exchange to be punished.…
EBay stock sinks after company gives lackluster guidance for fourth quarter
Shares of eBay slumped about 9% in extended trading on Wednesday after the online marketplace posted its third-quarter earnings and gave guidance for the fourth quarter that fell short of…
Apple updates MacBook Pro laptops with new chips, more memory for AI
Apple on Wednesday introduced new MacBook Pro laptops with updated processors, in what is likely the company’s last major hardware announcement of the year. The new devices are equipped with…
Meta set to report Q3 earnings after the bell
Meta is slated to report third-quarter earnings on Wednesday after the close of regular trading. Here’s what analysts polled by LSEG are expecting: Earnings per share: $5.25 Revenue: $40.29 billion…