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Cerebras raises annual targets on strong AI chip demand

Cerebras raises annual targets on strong AI chip demand

Aug 12 (Reuters) - Cerebras Systems raised its annual revenue and gross margin forecasts on Wednesday, buoyed by robust demand for its chips from companies ramping up data-center capacity to power AI services. Still, its shares were down more than 7% in extended trading.
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Wall St gains as AI earnings lift tech, inflation data supports rate-hold bets

Wall St gains as AI earnings lift tech, inflation data supports rate-hold bets

By Avinash P and Purvi Agarwal Aug 12 (Reuters) - Wall Street's main indexes rose on Wednesday, with the Nasdaq outperforming peers as upbeat earnings from AI infrastructure firms boosted technology stocks, while largely in-line inflation data reinforced bets the Fed will hold interest rates steady.
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Strong AI earnings lift S&P 500, Nasdaq as inflation data calms rate-hike jitters

Strong AI earnings lift S&P 500, Nasdaq as inflation data calms rate-hike jitters

By Avinash P and Purvi Agarwal Aug 12 (Reuters) - The S&P 500 and the Nasdaq rose on Wednesday as upbeat earnings from AI infrastructure firms boosted technology stocks, while largely in-line inflation data reinforced bets the U.S. Federal Reserve will hold interest rates steady in September.
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Cerebras shares plummet 16% after results fail to impress investors

Cerebras shares plummet 16% after results fail to impress investors

By Anhata Rooprai and Max A. Cherney Aug 12 (Reuters) - Cerebras Systems shares plunged roughly 16% in the extended session on Wednesday after the chip designer missed quarterly revenue expectations. The stock closed up 11.6% during regular trading and has gained 15.5% week-to-date.
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S&P 500 rises as CoreWeave results fuel AI optimism

S&P 500 rises as CoreWeave results fuel AI optimism

By Noel Randewich and Purvi Agarwal Aug 12 (Reuters) - The S&P 500 and the Nasdaq rose on Wednesday, lifted by upbeat quarterly results from CoreWeave and other AI infrastructure firms, while mild inflation data reinforced bets that the U.S.
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CoreWeave beats quarterly revenue estimates as AI cloud demand surges

CoreWeave beats quarterly revenue estimates as AI cloud demand surges

Aug 11 (Reuters) - CoreWeave topped Wall Street estimates for quarterly revenue on Tuesday and posted a smaller-than-expected loss, driven by strong demand for its AI cloud computing services, sending its shares nearly 10% higher in extended trading.
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China's Lenovo posts 43% jump in Q1 revenue, riding AI infrastructure boom

China's Lenovo posts 43% jump in Q1 revenue, riding AI infrastructure boom

By Laurie Chen BANGALORE/BEIJING, Aug 13 (Reuters) - China's Lenovo Group reported a 43% jump in quarterly revenue on Thursday, beating forecasts to drive shares up as much as 22%, as the world's largest computer maker rides an AI hardware boom and benefits from a global memory chip shortage.
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Londian Wason valued at $2 billion, biggest Chinese debut in New York in over a year

Londian Wason valued at $2 billion, biggest Chinese debut in New York in over a year

By Pragyan Kalita and Prakhar Srivastava Aug 12 (Reuters) - Copper foil maker Londian Wason New Energy Tech was valued at $2.01 billion in its New York Stock Exchange debut on Wednesday, marking the largest IPO of a Chinese company in the U.S. in more than a year.
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Wall Street ends down as expectations of Hormuz deal fade

Wall Street ends down as expectations of Hormuz deal fade

By Caroline Valetkevitch and Noel Randewich Aug 10 (Reuters) - The Nasdaq and S&P 500 closed lower on Monday, with declines in Intel and other chipmakers, as investors became less confident about a deal to reopen the Strait of Hormuz. U.S.
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Sandisk Poised for Growth with Strong Revenue Performance and AI Demand

Sandisk Poised for Growth with Strong Revenue Performance and AI Demand

Sandisk Poised for Growth with Strong Revenue Performance and AI Demand
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IBM, Together AI ink $240 million deal for Nvidia-powered AI inference cluster

IBM, Together AI ink $240 million deal for Nvidia-powered AI inference cluster

By Anhata Rooprai Aug 11 (Reuters) - IBM and startup Together AI have signed a $240 million multi-year agreement to build a large-scale artificial intelligence cluster on IBM Cloud using Nvidia systems, the companies said on Tuesday.
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Wall Street eases as hopes for imminent Hormuz deal fade; Intel drops

Wall Street eases as hopes for imminent Hormuz deal fade; Intel drops

By Caroline Valetkevitch and Avinash P Aug 10 (Reuters) - U.S. stocks edged lower in afternoon trading on Monday as hopes for an imminent deal to reopen the Strait of Hormuz faded and as Intel shares fell. U.S.