Section
Technology
Nvidia AI equity bets top $40 billion as circular-deal scrutiny grows
Nvidia's stakes in OpenAI, Corning and IREN top $40 billion, sharpening debate over whether the chipmaker is building a moat or funding a closed loop.
Broadcom slides 4% as OpenAI custom chip financing stalls at $18bn
AVGO shares fell about 4 per cent on Thursday after The Information reported Broadcom and OpenAI are at an impasse over $18bn in first-phase financing for the planned custom-chip rollout.
S&P 500 and Nasdaq notch records on AI and earnings optimism
The S&P 500 and Nasdaq Composite closed at record highs on Friday, lifted by AI chipmaker gains and a first-quarter earnings season running well ahead of estimates.
Micron surges 38 per cent in a week on AI memory demand
Micron Technology shares surged 38 per cent over five trading sessions to close at a record $746.81 on Friday, pushing the chipmaker's market capitalisation past $840bn. The rally was driven by AI-fuelled demand for high-bandwidth memory, which is sold out for the whole of 2026.
US nears $400m TikTok settlement over child privacy violations
The Justice Department is finalising a $400 million settlement with TikTok over allegations the platform collected personal data from millions of children under 13 without parental consent.
TSMC April sales jump 17.5% on AI chip demand
TSMC reported April revenue of NT$410.73 billion ($13.08 billion), up 17.5 per cent year-over-year, as sustained demand for AI chips continued to drive growth at the world's largest contract chipmaker.
Anthropic Leases SpaceXAI's 300MW Memphis Data Center for AI Compute
Anthropic has leased the full 300-megawatt capacity of SpaceXAI’s Colossus 1 data center in Memphis, Tennessee, securing approximately 220,000 Nvidia GPUs in one of the largest single-tenant cloud compute transactions the AI sector has seen.
Qualcomm shares surge 8% on earnings beat, OpenAI chip deal
Qualcomm shares rose more than 8 per cent after the chipmaker reported stronger-than-expected second-quarter earnings and announced a partnership with OpenAI to develop custom chips for running AI models on smartphones.
Intel shares surge 16 per cent on reports of preliminary Apple chip manufacturing deal
Intel shares rose as much as 16 per cent on Thursday after reports surfaced that the chipmaker is in preliminary talks with Apple over a manufacturing agreement that would see Intel’s foundry business produce chips for the iPhone maker.
Baidu chip unit Kunlunxin files for Shanghai IPO alongside Hong Kong plan
Baidu's AI chip arm Kunlunxin has filed for a Shanghai STAR Market IPO in addition to a separate Hong Kong listing already in train, with Baidu's Hong Kong shares closing up 5.75 per cent on the news.
AMD beats on Q1 as data-center revenue jumps 57%, lifting AI chip rally
Advanced Micro Devices reported $10.25 billion in first-quarter revenue and $1.37 EPS on Tuesday, with data-center sales up 57 per cent to $5.78 billion. Shares rose 18 per cent on Wednesday and lit a wider chip-stock rally.
Arm beats on Q4 but stumbles on AGI CPU supply as $2bn data center orders pile up
Arm topped Q4 estimates with $1.49bn in revenue and 60-cent EPS, then watched its US shares give back gains after executives said only the first $1bn of $2bn-plus AGI CPU orders has secured chip supply.
Big Tech AI capex now drives three-quarters of US GDP growth
Capital expenditure on AI infrastructure by Amazon, Microsoft, Alphabet, Meta and Oracle is now responsible for roughly 75 per cent of all US economic growth in Q1 2026, according to estimates compiled this week. Stop the AI build-out and you print a recession headline within two quarters.
Samsung crosses $1tn market value as AI memory boom rewrites Asia chip order
Samsung Electronics crossed a $1tn market value on Wednesday, only the second Asian company after TSMC to reach the threshold, after a 14 per cent share-price jump driven by record memory-chip earnings and tightening AI supply.
PayPal to cut 4,500 jobs in $1.5bn AI restructuring as it tries to 'become a technology company again'
PayPal will cut roughly 20 per cent of its workforce, more than 4,500 employees, over the next two to three years as part of a $1.5 billion cost-saving plan that the company is pitching as an artificial-intelligence-driven turnaround, chief executive Enrique Lores told investors on a first-quarter earnings call.
AI build-out costs are reaching consumer pockets, tech earnings show
The cost of the AI build-out has begun to flow through to consumer-electronics buyers, with the latest Big Tech earnings revealing rising prices on devices, subscriptions and cloud services as hyperscalers funnel profits into AI capacity.
