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Bank of America spots Prime Day signal for Amazon investors
TheStreet57d agoneutral
Bank of America spots Prime Day signal for Amazon investors

On June 18, just days before Amazon’s (AMZN) Prime Day kickoff, Bank of America pointed investors to a part of the event that could matter a lot more than the discounts. Prime Day is typically treated as a read on consumer demand, delivery speed, and Amazon’s ability to pull shoppers away from ...

SpaceX stock joins AI bond frenzy
TheStreet57d agoneutral
SpaceX stock joins AI bond frenzy

Wall Street has a new favorite trade: lending money to artificial intelligence. NVIDIA, Alphabet, Amazon, and Oracle have all rushed into debt markets to raise hundreds of billions of dollars to fund data centers, chips, and AI infrastructure. Investors have been lining up to buy, and the demand ...

Allbirds exposes a new test for the AI trade
TheStreet57d agoneutral
Allbirds exposes a new test for the AI trade

Allbirds is not big enough to define the artificial intelligence market. That’s exactly why investors need to pay attention. The sneaker maker’s transition into Smartbird (BIRD) is more than just another strange corporate rebranding. It could be a good sign for where the AI trade has gone following ...

The Week in Numbers: SpaceX's colossal climb, Pizza Hut's price tag
Reuters Videos58d agoneutralVIDEO
The Week in Numbers: SpaceX's colossal climb, Pizza Hut's price tag

<body><p>STORY: &nbsp;From SpaceX's colossal climb up the market...to Pizza Hut's price tag</p><p>This is the week in numbers.</p><p>:: The Week In Numbers</p><p>:: $2.52 trln</p><p>$2.52 trillion was the market cap given to SpaceX as shares of the rocket maker soared this week.</p><p>Elon Musk's company's value catapulted past Amazon's and briefly above Microsoft's.</p><p>Towards the end of the week though, shares dropped more than 6%...</p><p>as the post-IPO frenzy that briefly placed Elon Musk's rockets-to-AI firm...</p><p>among the world's top five most valuable companies, appeared to fizzle out.</p><p>:: 30%</p><p>30% is how much Allbirds shares soared by after the former footwear company changed its name to Smartbird.</p><p>The move cemented its months-long transformation from shoemaker to AI infrastructure firm, shifting its focus to offer cloud computing capacity.</p><p>The company also appointed former Amazon executive Nadia Carlsten as its new CEO.&nbsp;</p><p>:: 7%</p><p>More than 7% is the hit BMW's shares took after the German automaker issued a profit warning.</p><p>The premium carmaker blamed ongoing weakness in the world's largest auto market China, and the impact of the Iran war on prices and customer sentiment.</p><p>Analysts said the outlook cut was significantly larger than expected.</p><p>BMW shares dipped to their lowest level since 2020.</p><p>:: $22 bln&nbsp;</p><p>$22 billion is the amount media giant Fox is spending on buying streaming platform Roku.</p><p>The deal gives the parent company of Fox News access to Roku's more than 100 million households.</p><p>Potentially helping the legacy cable and broadcast company better compete for eyeballs, target its ads and reduce reliance on traditional distribution.&nbsp;</p><p>:: $2.7 bln</p><p>$2.7 billion is the price tag Yum brands set for Pizza Hut as the fast-food business struggles with stiff competition and cautious consumer spending.</p><p>Rising inflation and higher commodity costs have weighed on U.S. pizza chains facing weak demand.</p><p>Growing use of weight-loss drugs is nudging consumers toward healthier options.</p></body>

Amazon points to water conservation steps in India amid data centre scrutiny
Reuters58d agoneutral
Amazon points to water conservation steps in India amid data centre scrutiny

Amazon said on Friday its Indian operations had reached a major milestone in ‌water conservation, at a time when global tech giants face increasing pressure ‌over their expansion of resource-hungry AI data centres. The U.S.-based company announced it had turned "water positive" in ​India this year - meaning it returns more water to communities than it uses across its operations, which include data centres, corporate offices and warehouses. Amazon, Microsoft and Alphabet's Google are among companies that are facing shareholder and activist pushback ⁠over the environmental impact of data centre projects, Reuters reported earlier this year.

Jeff Bezos breaks ranks on what AI will do to your job
TheStreet58d agoneutral
Jeff Bezos breaks ranks on what AI will do to your job

Every wave of new technology arrives with a rich man telling everyone else to relax. The machine will lift you up, not push you out, he says. He is usually right about what the machine can do, and wrong about how it feels to be the person standing closest to it. The argument over artificial ...

Investing.com58d agobearish
Amazon explores selling AI chips to challenge Nvidia

Investing.com -- Amazon is in talks to sell its Trainium AI chips directly to other companies for use in their data centers, according to a report from Bloomberg News, citing an interview with Amazon’s AI Chief, Peter DeSantis. The move represents an effort to compete with Nvidia and take advantage of growing global demand for AI infrastructure.

SpaceX Drops 8% as the Post-IPO Cooldown Deepens: Profit-Taking or Fading Hype?
24/7 Wall St.58d agobearish
SpaceX Drops 8% as the Post-IPO Cooldown Deepens: Profit-Taking or Fading Hype?

SpaceX (NASDAQ:SPCX) stock is down 8% on Thursday, June 18, sliding to $176 a day after the Federal Reserve’s latest policy decision. The pullback broke a three-day winning streak, the first losing session since the company’s IPO on June 12. SPCX stock touched a session high of $188.40 and then dropped quickly. That volatility, following ... SpaceX Drops 8% as the Post-IPO Cooldown Deepens: Profit-Taking or Fading Hype?

Waymo Has a Tesla-Like Recall. What It Means for Alphabet Stock.
Barrons.com58d agobearish
Waymo Has a Tesla-Like Recall. What It Means for Alphabet Stock.

Waymo is recalling 3,871 robo-taxis to correct software that might allow a vehicle to enter a freeway construction zone, according to a National Highway Traffic Safety Administration notice. For starters, it illustrates the size of the Waymo robo-taxi fleet. The Alphabet -owned ride-hailing network operator is expanding across the country, along with other companies, including Tesla Amazon.com -backed Zoox, and others.

Bloomberg59d agobullish
Big Tech’s AI Spending Spree Is Making Stock Buybacks Disappear

(Bloomberg) -- The artificial-intelligence race is becoming so expensive that it’s snuffing out one of the key forces that has helped keep Big Tech stocks soaring for years: steady share buybacks.Most Read from BloombergRead the 14-Point Draft Memorandum Between the US and IranModi Warns of ‘Shortage of Trust’ Ahead of Trump MeetingTrump Blows Through His Iran Red Lines in Justifying Peace DealIran’s Deputy Foreign Minister Confirms Deal Reached With USApple Plans Camera AirPods Alongside Upgrad

SpaceX Rebounds in Premarket Trading After First Post-IPO Decline (SPCX)
InvestorsHub59d agoneutral
SpaceX Rebounds in Premarket Trading After First Post-IPO Decline (SPCX)

SpaceX (NASDAQ:SPCX) shares edged higher in premarket trading on Thursday after posting their first daily decline since the company’s record-breaking stock market debut, following a remarkable rally that briefly propelled the aerospace group above some of the world’s largest technology companies by market value. SPCX rose 1.

Turbocharged Earnings Are Pushing Stocks Higher. There’s a Catch.
The Wall Street Journal59d agoneutral
Turbocharged Earnings Are Pushing Stocks Higher. There’s a Catch.

The stock market is salivating over big increases in corporate earnings, but there’s a catch. Analysts expect S&P 500 companies’ earnings growth to top 20% for a second consecutive quarter in the current period, in part because of soaring profits by semiconductor makers and other AI-infrastructure companies. This combination has worked wonders for corporate earnings broadly.

Nasdaq, US stocks slide as Fed forecasts possible rate hike
Yahoo Finance Video59d agoneutralVIDEO
Nasdaq, US stocks slide as Fed forecasts possible rate hike

US stocks (^DJI, ^IXIC, ^GSPC) ended Wednesday's session in negative territory after Federal Reserve officials unanimously voted to hold interest rates at their June FOMC meeting today, while also forecasting at least one possible rate hike ahead. Yahoo Finance Markets and Data Editor Jared Blikre breaks down the trading day's market reactions to the Fed's big decision. This was Kevin Warsh's first FOMC meeting he presided over as the new chairman of the Fed.

AI lab Odyssey valued at $1.45 billion in latest funding round
Reuters59d agoneutral
AI lab Odyssey valued at $1.45 billion in latest funding round

AI lab Odyssey on Wednesday said it has raised $310 million in a Series B round valuing it at $1.45 ‌billion, and struck a deal with Amazon Web Services that gives ‌it access to specialized chips designed for high‑performance machine-learning workloads. The round, led by Natural Capital, ​saw participation from Amazon, AMD Ventures, Google Ventures, EQT and In-Q-Tel, alongside prominent individual investors including Google’s chief scientist Jeff Dean and Garry Tan, president and CEO of Y Combinator. Odyssey is building models that can ⁠simulate the real world and act without human input.

Rivian has bad news for hundreds of its workers
TheStreet59d agoneutral
Rivian has bad news for hundreds of its workers

Shipping a product people love and running a company that makes money are two different jobs. One earns applause. The other earns a line on the balance sheet, and the two rarely arrive in the same week. Rivian spent years selling the idea that it could become the next great American carmaker. Its ...

Reuters59d agoneutral
AI lab Odyssey valued at $1.45 billion in latest funding round

AI lab Odyssey said on Wednesday ‌it has raised $310 ‌million in a funding round ​that valued it at $1.45 billion. The Series B round was led by Natural ‌Capital, ⁠with participation from Amazon, AMD Ventures, GV, ⁠EQT, IQT and others. The last few years ​have seen ​major ​breakthroughs in ‌scaling, interactivity, multimodality and physics accuracy, and the field is now advancing extremely quickly,” said Oliver ‌Cameron, Co-founder ​and CEO of ​Odyssey.