Today's News
Nvidia (NVDA, Financial) is set to unveil its next-generation GPU, the Blackwell B100 AI chip, at its annual GTC conference, drawing significant attention from Wall Street. Analysts are particularly focused on the details and pricing of the new chip, which is expected to mark a pioneering moment for the AI industry. Ahead of the event, HSBC has raised its price target for Nvidia, highlighting the company's promising AI product roadmap and its potential to dominate the entire value chain in AI technologies.
Astera Labs (ALAB, Financial) has announced an increase in the size of its upcoming IPO due to heightened demand, signaling strong investor interest in AI-related ventures. The semiconductor connectivity firm, which counts Intel (INTC, Financial), Nvidia (NVDA, Financial), and AMD (AMD, Financial) among its customers, plans to offer more shares at a higher price range, potentially raising over $670 million. This move underscores the growing importance of AI technologies in the semiconductor industry.
Alphabet's (GOOG, Financial) (GOOGL, Financial) shares saw a notable increase following reports of Apple's (AAPL, Financial) interest in licensing Google's Gemini suite of generative AI tools for future iPhones. This collaboration could introduce new AI-powered features to iPhone users, highlighting the increasing integration of AI technologies in consumer electronics. Meanwhile, Shift4 Payments (FOUR, Financial) experienced a significant drop in its stock price after its CEO deemed buyout offers as undervaluing the company, despite exceeding the current share price.
FedEx Corporation (FDX, Financial) and Amazon (AMZN, Financial) have reportedly resumed discussions on potentially expanding their business relationship, which could include FedEx once again accepting Amazon package returns at its retail locations. This development reflects the ongoing dynamics and strategic partnerships within the e-commerce and logistics sectors.
Meta Platforms (META, Financial) received a boost from Mizuho Securities, being added as a top pick with expectations of revenue growth driven by improvements in monetization, geographic expansion, and partnerships. This positive outlook is supported by Meta's investments in generative AI and other technologies.
Logitech International (LOGI, Financial) announced the departure of its CFO, Charles ‘Chuck’ Boynton, who will pursue another career opportunity. Despite this change, Logitech confirmed its outlook for Fiscal Year 2024, indicating stability within the company's financial planning.
Sterling Infrastructure (STRL, Financial) revealed that its subsidiary, Plateau Excavation, has been awarded a significant data center project, valued at approximately $100 million. This project highlights the growing demand for data center infrastructure, partly driven by the expansion of AI and digital technologies.
Qualcomm (QCOM, Financial) unveiled its new Snapdragon 8s Gen 3 Mobile Platform, designed to enhance smartphone capabilities with advanced photography, gaming, and generative AI features. This development showcases the ongoing innovation in mobile technology and the importance of AI in enhancing user experiences.
