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Stock information is displayed on an electronic board and pedestrians are reflected in the window at the Australian Stock Exchange, operated by ASX Ltd., on August 6, 2024 in Sydney, Australia.Lisa Marie Williams Getty Images News | Getty ImagesAsia-Pacific markets fell on Tuesday despite a lack of major catalysts after Wall Street’s two main indexes rose overnight on optimism about technology.Amazon’s stock rose 4% on its $38 billion deal with OpenAI, which will see it use hundreds of thousands of Nvidia’s graphics processing units. Nvidia also rose about 2% after securing an export permit to ship its chips to the…
Amazon is building an undersea fiber optic cable called Fastnet that will connect the east coast of Maryland to County Cork, Ireland, making it the company’s first wholly owned undersea cable project.Submarine fiber optic communications cables carry over 95% of the world’s international data and voice traffic. These cables transmit hundreds of terabits of data per second, including government communications, financial transactions, email, video calls, and streaming.Amazon has previously invested in several undersea cable projects as part of a consortium, including Jako, Bifrost, and Havfrue, but Fastnet is the first time a technology company has undertaken these projects alone.”The ocean…
Israel announced on Tuesday that Hamas had received the remains of another deceased hostage held in the Gaza Strip as part of a U.S.-brokered ceasefire agreement that took effect last month. Israel, which received the coffin through the Red Cross in the Gaza Strip, said the remains would now be taken to the country’s National Institute of Forensic Medicine for identification. If confirmed, the bodies of the seven deceased hostages will remain in Gaza. The transfers came after Hamas handed over the bodies of three hostages who died on Sunday. US President Donald Trump confirmed that one of them was…
Faith Martin tells Jerry Turner it’s okay to call off weddingAdmittedly, Jerry’s feet were still pretty cold when he spoke with Faith, who gave him a rose for a first impression at the rehearsal dinner. “I sat there and I poured my heart out to her,” he recounted. “‘I made the mistake of going through with this wedding,’ I said. ‘I wish I wasn’t here, there’s no way out. I’m completely trapped.’ Faith stuck her finger in my chest and said, ‘What the hell are you doing?’ You know in your heart that this is not right, so why go…
Stocks @ Night is a daily newsletter delivered after hours, giving you the first information about tomorrow and the last information about today. Sign up for free to receive it straight to your inbox. Here’s what CNBC TV producers were looking at Monday and what they’re looking at for Tuesday’s session. Pfizer reports in the morning The pharmaceutical giant announced its quarterly numbers Tuesday morning live on “Squawk Box” with Becky Quick, Andrew Ross Sorkin and Joe Kernen. The team will know the numbers and the stock price reaction. Pfizer stock has risen 5% in the three months since the…
Nvidia is playing fast and loose with its war chest as it seeks to further its momentum as a major backer of the AI boom. The company on Tuesday signed a 1 billion euro ($1.15 billion) partnership with Deutsche Telekom to establish an “AI factory” in Munich aimed at increasing Germany’s AI computing capacity by 50%. The project, called “Industrial AI Cloud,” will use more than 1,000 Nvidia DGX B200 systems and RTX Pro servers with up to 10,000 Blackwell GPUs to provide AI inference and other services to German companies while complying with German data sovereignty laws. Deutsche Telekom…
As corporate America is reeling from historic white-collar layoffs, some are wondering, “Is AI finally coming to their jobs?”The proliferation of generative and agentic artificial intelligence is a contributing factor, while recent layoff announcements by companies such as: Amazon, UPS and target It’s more than just a new technological advancement. Both companies have announced job cuts in recent weeks, saying more than 60,000 positions will be cut in total this year, but both companies say they are trying to reduce bloat, streamline operations and adapt to new business models.But with the Bureau of Labor Statistics’ monthly employment report still unreleased…
Faith Martin tells Jerry Turner it’s okay to call off weddingAdmittedly, Jerry’s feet were still pretty cold when he spoke with Faith, who gave him a rose for a first impression at the rehearsal dinner. “I sat there and I poured my heart out to her,” he recounted. “‘I made the mistake of going through with this wedding,’ I said. ‘I wish I wasn’t here, there’s no way out. I’m completely trapped.’ Faith stuck her finger in my chest and said, ‘What the hell are you doing?’ You know in your heart that this is not right, so why go…
CNBC’s Jim Cramer on Monday dismissed concerns about a concentration of market capitalization in the Magnificent Seven, saying the group is tied together by its high growth rate, not its product.”For equity investors, growth is what matters, not data centers or high-speed computing or even artificial intelligence,” he said. “The common denominator among the Magnificent Seven is growth, and growth is what the market always loves.”Magnificent Seven — Amazon, alphabet, Meta, apple, microsoft, Nvidia and tesla These are some of the most well-known companies on the market, with artificial intelligence chip giant Nvidia recently becoming the first company to reach…
Anthropic expects to generate up to $70 billion in revenue and $17 billion in cash flow in 2028, the Information reported. The growth forecast is being driven by rapid adoption of Anthropic’s business products, a person familiar with the company’s finances said. Reuters reported last month that Anthropic’s annual sales are expected to more than double, and possibly nearly triple, next year. The company is on track to achieve its $9 billion ARR goal by the end of 2025, and has reportedly set its 2026 ARR target at $20 billion to $26 billion. According to The Information, Anthropic expects to…