The conundrum of the stock market going down ahead of Jackson Hole confounded me. With a market that had been headed down every day, except for deep cyclicals and housing-related stocks, the setup seemed extreme. By the end of the week, the bet was one way: Federal Reserve Chairman Jerome …
Jaque Silva | Nurphoto | Getty Images Jeff Wang got a big promotion last month. There were lots of tears, but not the happy kind. The 39-year-old was unexpectedly named interim CEO of artificial intelligence coding startup Windsurf. The company had been in discussions with OpenAI about a potential acquisition …
Microsoft delivered a strong quarter Wednesday evening, with beats nearly across the board. The biggest standout was Azure’s accelerating revenue growth, which caught the market by surprise. Revenue increased 13% year over year to about $70 billion in its fiscal 2025 third quarter, beating the Street consensus estimate of $68.4 …
Meta Platforms shares jumped Wednesday after the social media giant delivered a strong first quarter and signaled its intentions to keep spending on artificial intelligence. Revenue in the three months ended March 31 climbed 16.1% year over year to $42.31 billion, beating the consensus estimate of $41.39 billion, according to …
Microsoft couldn’t shake the bear thesis with its fiscal 2025 second-quarter numbers Wednesday, causing the stock to fall more than 5% in extending trading. Despite beating top-line and bottom-line estimates, the software giant’s disappointing cloud revenues and soft guidance renewed concerns its AI spending is not generating sufficient returns. Revenue …
Amazon reported a much better-than-expected third quarter Thursday, with strong growth across online sales, its cloud business and advertising. Margin initiatives lead to soaring profits. Additionally, the fourth-quarter forecast was exactly what was needed to keep investors happy. Revenue increased 11% year over year to $158.88 billion, beating expectations for …
Don’t let the after-hours stock action fool you, Meta Platforms delivered one heck of a strong third quarter and a current quarter revenue guide above expectations. Revenue in the three months ended Sept. 30 rose nearly 19% year over year to $40.59 billion, outpacing the $40.29 billion expected, according to …
Inside a sprawling lab at Google headquarters in Mountain View, California, hundreds of server racks hum across several aisles, performing tasks far less ubiquitous than running the world’s dominant search engine or executing workloads for Google Cloud’s millions of customers. Instead, they’re running tests on Google’s own microchips, called Tensor …
Elon Musk, Chief Executive Officer of SpaceX and Tesla and owner of X speaks during the Milken Conference 2024 Global Conference Sessions at The Beverly Hilton in Beverly Hills, California, U.S., May 6, 2024. David Swanson | Reuters If a voter in Michigan performs a search on Google, a somewhat …
Thanks to the artificial intelligence boom, new data centers are springing up as quickly as companies can build them. This has translated into huge demand for power to run and cool the servers inside. Now concerns are mounting about whether the U.S. can generate enough electricity for the widespread adoption …