Fall overnight comes after it shrinks by $279bn on Tuesday in biggest one-day
drop in value by US company
* Business live – latest news
Shares in the AI chip designer Nvidia have continued to slide overnight after a
report said US authorities were ramping up an investigation into whether the
company had breached competition laws.
The company’s shares fell 2.4% in after-hours trading, exacerbating a near-10%
drop in the regular trading session that slashed its value by $279bn (£212bn) to
$2.6tn, marking the largest one-day drop in history for a US company.
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Tag - Stock markets
Doubling of quarterly revenues fails to allay concerns about production delays
to its next-generation of AI chips
* Business live – latest updates
Shares in the chip designer Nvidia have fallen after investors were spooked by
signs of slowing growth and production issues, despite the artificial
intelligence company posting a doubling of quarterly sales.
The Silicon Valley company posted a 122% rise in second-quarter revenues to
$30bn (£23bn) compared with the same period last year. While that beat average
analyst estimates of $28.7bn, investors were spooked by signs of a slowdown in
growth, particularly around its next-generation AI chips, code-named Blackwell.
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Vacation rental company reports second-quarter profit of $555m compared with
last year’s $650m
The vacation rental company Airbnb forecast third-quarter revenue below Wall
Street estimates on Tuesday and reported a lower second-quarter profit, as it
flagged weakening demand from US customers.
Shares of the company were down about 12% after the bell.
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Firm reported a loss in its second quarter and said it would cut 15% of its
workforce to cut costs and compete with rivals
Intel, the chipmaker, has announced plans to cut more than 15,000 jobs as it
tries to cut billions of dollars in costs and turn its business around to
compete with more successful rivals.
Shares in the company sank 19% as a string of leading technology stocks came
under pressure on Thursday following a fresh batch of lackluster earnings that
contributed to a sell-off on Wall Street.
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Even as shares fall about 9%, chief financial officer says firm is seeing ‘more
investment’ in AI than ‘even 90 days ago’
Chip designer Arm Holdings on Wednesday reported a stronger-than-expected 39%
surge in quarterly revenue, and forecast fiscal second-quarter sales broadly in
line with Wall Street estimates, yet its shares fell about 9% in extended
trading.
For the current fiscal second quarter, Arm forecast revenue in a range between
$780m and $830m, compared with an average analyst estimate of $804.1m, according
to LSEG data.
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Banks, airlines, railways, telecoms companies, TV and radio broadcasters, and
supermarkets have been taken offline
Britain’s Sky News is back on air after an outage lasting several hours, but its
presenter said the news channel was operating at minimal capacity and without
many of its usual services.
Two presenters were reading from paper scripts, with one, Anna Jones, saying
they were not yet able to connect to any guests outside the studio to conduct
interviews.
We’re impacted by the IT outage. This will have a big effect on us, so apologies
in advance for the inconvenience caused, and delays on the phone.
Due to ongoing Windows issues affecting IT worldwide, the practice is currently
unable to function as normal.
This may result in appointments needing to be cancelled and rearranged. Updates
will follow when available.
All practices in the UK using the NHS commissioned GP computer system EMIS are
currently without access to their IT systems.
This is beyond the control of GP surgeries. Please bear with us until we have
our IT systems back online.
We have no access to patient clinical records so are unable to book appointments
or provide information... This is a national problem and is being worked on as a
high priority.
Unfortunately there is a national issue with EMIS Web - our clinical computer
system.
This will affect our ability to book/consult with patients this morning.
We will update patients when we can. We apologise for the disruption.
I’m currently sat in NHS Chorley Hospital (UK) and can confirm they are having
issues and have been told they maybe cancelling appointments. I am an
outpatient.
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Proposed sale of 25m shares disclosed in notice on Tuesday after stock hit
all-time high of $200.43 during session
Amazon founder and executive chair Jeff Bezos is planning to sell almost $5bn
worth of shares in the e-commerce giant, a regulatory filing showed, after its
stock hit a record high.
The proposed sale of 25m shares was disclosed in a notice filed after market
hours on Tuesday. The stock had hit an all-time high of $200.43 during the
session. It has jumped more than 30% so far this year, outpacing the 4% gain in
the Dow Jones Industrial Average index.
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