By David Randall NEW YORK (Reuters) – Some of Tesla’s institutional shareholders are getting out, convinced that the electric carmaker’s days of dizzying growth are in the rear-view mirror. The company’s shares are down nearly 30% this year and have fallen by more than 50% since their 2021 high, wiping out some $600 billion in…
By Arsheeya Bajwa TAIPEI (Reuters) – Advanced Micro Devices unveiled its latest artificial intelligence processors on Monday and detailed its plan to develop AI chips over the next two years in a bid to challenge industry leader Nvidia. At the Computex technology trade show in Taipei, AMD CEO Lisa Su introduced the MI325X accelerator, which…
(Reuters) -Abbott Laboratories’ shares fell nearly 7% premarket, while British peer Reckitt Benckiser slumped 9% on Monday, after the U.S. healthcare firm was ordered to pay $495 million in damages related to its formula for premature infants. A jury late on Friday found Abbott’s specialized formula for premature infants caused an Illinois girl to develop…
(Reuters) -Activist investor Elliott Investment Management disclosed a $2.5 billion stake in analog chipmaker Texas Instruments and urged the chipmaker to improve its free cash flow. Texas Instrument’s shares rose about 3% in early trading. Elliott proposed in a letter to the company’s board that Texas Instruments introduce a “dynamic capacity-management strategy”, which would allow…
(Reuters) – Amazon MGM Studios has entered a multi-year film partnership with Scott Stuber, the former longtime head of films at Netflix, to finance and release movies from his new production company, it said on Friday. Stuber, who left Netflix in March to start his media company, will produce several films annually under United Artists…
(Reuters) -OpenAI CEO Sam Altman told some shareholders that the company is considering changing its governance structure to a for-profit business that OpenAI’s nonprofit board doesn’t control, The Information reported on Friday. One scenario Altman said the board is considering is a for-profit benefit corporation, which rivals such as Anthropic and xAI are using, the…
By Zaheer Kachwala (Reuters) – Nvidia’s shares rallied around 6% to hit a record high on Tuesday, leaving the AI chipmaker’s stock market value about $100 billion away from overtaking Apple in a major reshuffle of Wall street’s biggest players. Last trading at $1,128, Nvidia’s market capitalization reached $2.8 trillion, compared to a market value…
LONDON (Reuters) – The boss of Tesco, Britain’s largest supermarket group, saw his pay package more than double to almost 10 million pounds ($12.6 million) in its 2023/24 financial year, a period when millions of its customers battled a cost of living crisis. Tesco’s annual report, published on Tuesday, showed chief executive Ken Murphy was…
By Foo Yun Chee BRUSSELS (Reuters) – Apple will delay launching three new artificial intelligence features because landmark European Union tech rules require it to ensure that rival products and services can function with its devices, the U.S. tech group said on Friday. Apple underscored its AI push earlier this month with a slew of…
(Reuters) -Spirit Airlines on Tuesday cut its revenue outlook for the second quarter, citing lower-than-expected non-ticket revenue, sending its shares down more than 6% in extended trading. The company now projects quarterly revenue to be $1.28 billion, compared with its earlier estimate of between $1.32 billion and $1.34 billion, the ultra-low-cost carrier said in a…
