9 stories for “tech stocks”
When Nvidia buys shares of Meta, which buys Nvidia's chips, that isn't confidence in the future. It's a loop. Tonight's results will test the question everyone avoids: who ends up paying.
Investors will look for an answer to one question: is the enormous AI spending already producing revenue. Microsoft will show Azure revenue in dollars for the first time, and Google is expected to report about $128 billion in revenue.
Nvidia will buy $3 billion of stock and AMD $1 billion, as part of a $25 billion offering that was about five times oversubscribed. Meta is also expanding its use of Vera Rubin chips.
The Jerusalem-based autonomous driving technology company reports before the New York open. Last quarter revenue was nearly flat, and the company narrowed its annual forecast.
The Israeli solar energy company is cutting about 10% of its workforce despite improved second-quarter results. The reasons: weak demand for residential solar in the US and excess distributor inventory in Europe.
The Korean memory chipmaker reported operating profit of 83 trillion won and an 80% margin, and said its output is almost sold out through 2029. Its shares jumped 8%.
About $480 billion of market value has been wiped from Shanghai's index of chip and AI companies. State funds are stepping in to buy, and analysts are split on whether it is an opportunity or just the beginning.
GM will move its shares from the New York Stock Exchange to the tech-heavy exchange in November, a step that makes it eligible to join the Nasdaq-100 alongside the tech giants.
The three companies, which plan to spend up to $600 billion this year on infrastructure, report results in the coming days. Against a market selloff and rising financing costs, investors want proof the money is coming back.
