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Analog Devices' quarterly forecast tops estimates on AI-fueled chip demand

Analog Devices' quarterly forecast tops estimates on AI-fueled chip demand

Aug 19 (Reuters) - Analog Devices forecast fourth-quarter revenue and profit above Wall Street estimates on Wednesday, betting on continued demand for its power-management chips used across data centers and industrial applications as AI investments ramp up.

Alibaba profit falls 75% after ramping up AI infrastructure spending

Alibaba profit falls 75% after ramping up AI infrastructure spending

By Laurie Chen and Harshita Mary Varghese Aug 20 (Reuters) - China's Alibaba reported a 75% fall in quarterly net profit on Thursday as the tech giant heavily ramped up AI capital expenditure, betting future growth on its enterprise cloud and AI model services.

Nebius plans $4.5 billion convertible debt sale to fund data centers, AI platform

Nebius plans $4.5 billion convertible debt sale to fund data centers, AI platform

Aug 19 (Reuters) - AI cloud provider Nebius Group said on Wednesday it plans to raise $4.5 billion through an offering of private convertible notes, as it seeks to ramp up investments in data centers and computing capacity.

Marvell gives Google option to buy $12.2 billion stake in custom chip deal

Marvell gives Google option to buy $12.2 billion stake in custom chip deal

Aug 19 (Reuters) - Marvell Technology will help develop Google's in-demand custom chips and has given the tech giant the option to become one of its biggest investors through a stake purchase of as much as $12.2 billion, in its latest move to tap the AI boom.

Deere lifts 2026 profit view as AI construction boom lifts quarterly income

Deere lifts 2026 profit view as AI construction boom lifts quarterly income

By Nandan Mandayam Aug 20 (Reuters) - Deere, the world's largest farm equipment manufacturer, raised its full-year net income forecast on Thursday and posted its first rise in quarterly profit in three years amid an AI-driven construction boom and tariff refunds.

AI chip startup Etched doubles valuation to $21 billion in under a month

AI chip startup Etched doubles valuation to $21 billion in under a month

Aug 18 (Reuters) - Jane Street-backed Etched said on Tuesday its valuation more than doubled in less than a month to $21 billion, as investors bet on growing demand for specialized chips used to run artificial intelligence models.

Cerebras launches new server chip and system designed to speed AI chatbots

Cerebras launches new server chip and system designed to speed AI chatbots

By Max A. Cherney SAN FRANCISCO, Aug 18 (Reuters) - Cerebras Systems announced on Tuesday a new version of its server hardware that includes its dinner-plate-sized chips that it says will speed AI chatbot queries.

Anthropic prepares supervoting power for founders ahead of IPO, the Information reports

Anthropic prepares supervoting power for founders ahead of IPO, the Information reports

Aug 18 (Reuters) - Anthropic has been preparing to give CEO Dario Amodei and other co-founders a class of stock with extra voting power to help insulate them from external shareholder pressure, the Information reported on Tuesday, citing two people familiar with the matter.

Wall Street indexes slip as oil prices rise, retail results awaited

Wall Street indexes slip as oil prices rise, retail results awaited

(Removes first bullet point which contained old information) By Sinéad Carew and Avinash P Aug 17 (Reuters) - Wall Street's three major indexes fell on Monday as investors waited for quarterly reports from large retailers to provide insights into U.S. consumer spending, while oil prices rose as the

Anthropic revenue run rate tops $65 billion, source says

Anthropic revenue run rate tops $65 billion, source says

Aug 17 (Reuters) - Anthropic's annual revenue run rate topped $65 billion by the end of July, a person familiar with the matter said on Monday, underscoring the Claude creator's rapid growth ahead of a potential public listing later this year.

OpenAI unveils ChatGPT for Teens with stronger guardrails to tackle safety risks

OpenAI unveils ChatGPT for Teens with stronger guardrails to tackle safety risks

Aug 18 (Reuters) - OpenAI on Tuesday launched a version of ChatGPT tailored for minors, with parental controls and enhanced security features, as online platforms face scrutiny over the risks of AI chatbots.

OpenAI unveils ChatGPT for Teens with stronger guardrails, parental controls

OpenAI unveils ChatGPT for Teens with stronger guardrails, parental controls

Aug 18 (Reuters) - OpenAI introduced "ChatGPT for Teens" on Tuesday, tailored for minors with parental controls and enhanced security features in place, as platforms face fierce criticism over the risks associated with AI chatbots.