Cerebras Systems (CBRS) shares tanked over 15% on Wednesday morning following its inaugural quarterly earnings report since its blockbuster initial public offering (IPO) last month. While the artificial intelligence (AI) chipmaker nearly doubled its Q1 revenue to $193 million and topped Street estimates, investors are concerned about the compressed profitability guidance. Cerebras expects its core
Shares of Arm Holdings continued to decline on Wednesday, extending losses after the semiconductor stock tumbled more than 10% in the previous session as investors rotated out of several high-flying artificial intelligence names. Arm shares fell 4.7% to $349.03 and are down about 19% since the beginning of the week. Despite the recent selloff, the
Shares of Hertz Global Holdings plunged on Wednesday after the car-rental company warned that second-quarter earnings are tracking toward the lower end of its guidance range, citing unexpected weakness in the used-car market. The stock sank more than 38% during trading and was on track for its largest-ever single-day percentage decline and its lowest close
Tesla shares TSLA remained under pressure on Wednesday as investors looked ahead to the electric vehicle maker’s second-quarter delivery report while increasingly focusing on speculation surrounding a potential merger with SpaceX. Tesla stock fell 1.8% to $374.69 after declining 5.8% in the previous session. The shares have dropped nearly 13% in June and are down
Macroeconomic risks, including resurgent fears of a Fed rate hike, and valuation concerns recently sent shockwaves through the tech sector, triggering a steep sell-off that caught investors off guard. The turbulence started in Asia, where South Korea’s benchmark KOSPI index crashed by about 10%, triggering a domino effect that rapidly spread to Wall Street. Along
SK Hynix shares jumped as much as 11.6% on Thursday, after the South Korean chipmaker laid out plans for one of the biggest equity offerings in market history. The Nvidia supplier plans to raise up to 45.45 trillion won, or about $29.4 billion, through a Nasdaq listing of American depositary receipts. The deal involves up
South Korea’s Kospi Index jumped by over 5% on Thursday, and is slowly nearing its all-time high of 9,387. It has soared by 184% in the last 12 months, making it the best-performing global index. Similarly, the iShares MSCI South Korea ETF (EWY) has soared by 171% in the same period and is nearing the
SpaceX stock (NASDAQ: SPCX) fell again in premarket trading on Tuesday, extending a sharp post-IPO reversal that has raised some hard questions for investors. The stock slipped about 3.5% before the open to roughly $149, putting it close to the symbolic $150 level and only about 10% above its $135 IPO price. Monday’s 16.4% plunge
London’s benchmark stock indexes fell to more than one-week lows on Tuesday, pressured by global market weakness, rising expectations of interest rate hikes, and renewed political uncertainty in Britain after Prime Minister Keir Starmer’s resignation. The blue-chip FTSE 100 dropped 0.7% by 0919 GMT to its lowest level since June 12, while the domestically focused
Wall Street’s Tuesday setup is no longer just about oil or geopolitics. Nasdaq futures were pointing to a sharp selloff before the bell as investors questioned whether the AI trade can keep absorbing higher borrowing costs and debt-funded spending. The pressure followed a global equity slide, with Europe and Asia pulled lower after Monday’s tech-led