Bank of America downgrades CoreWeave after earnings on “near term overhang”
Bank of America analyst Brad Sills cut his price target on shares of to $168 from $185 after the supplier of surge capacity for AI compute reported second-quarter results after the close on Tuesday. ...
CoreWeave delivers top- and bottom-line beat in Q2
gave back all of the day’s big gains, and then some, after-hours even as the AI cloud company delivered better-than-expected second-quarter results. Revenue: $1.21 billion (estimated $1.08 billion, gu...
AI investments for thee, but not for me: Apple remains a relentless buyback machine
Big Tech is still seriously bullish on AI. And with good reason: every time Microsoft, Meta, Amazon, or Google announces that they’re going to spend an extra $10 billion or $20 billion on data centers...
Big Tech’s big AI love affair — in quotes
Big Tech’s love affair with AI saw no signs of faltering during the latest earnings season. Combined, , , , and spent a record of nearly $90 billion on capex last quarter and have promised even bigge...
Arista Networks soars after crushing earnings, boosting guidance, and getting Wall Street price target hikes
Cloud networking company and data center supplier is leading all S&P 500 stocks in premarket trading, up double digits after reporting knockout second-quarter results and boosting its full-year forec...
Apple rises after White House touts $100 billion investment announcement coming today
is trading up after White House economic adviser Kevin Hassett said Apple is likely to make an investment announcement today. “They’re moving here in droves. This is trillions and trillions of dollars...
Super Micro craters after earnings and revenues miss
is down double digits after posting fiscal fourth-quarter results that missed on the top and bottom lines. For the three months ending June 30, the AI server company reported: Adjusted diluted earning...
Top Core Scientific shareholders mulling “revolt” against CoreWeave deal: Report
The Financial Times is reporting that some of the “top shareholders” of are crying foul over the terms of its all-stock takeover by and are planning on voting against the deal. “Multiple funds” told...
Amazon, Google, Microsoft, and Meta spent a record $88 billion on capex last quarter
Big Tech companies including , , , and continue to spend big on capital expenditures to furnish their AI goals — a strategy that, judging by their earnings last quarter, seems to be a paying off . Co...
Amazon’s overwhelming AI demand is just a bronze medal compared to its rivals
has so much demand for AI in its AWS services that it has a $195 billion backlog. Its earnings and revenue for the second quarter beat analysts’ expectations. But investors overlooked that good news t...
Even Apple is leaning into AI spending
more disciplined approach to AI spending seems to have failed it, as its AI capabilities continue to lag its peers and its upgraded AI assistant is still a ways off (expected “next year”). But as its ...
Amazon beats on Q2 earnings, but Q3 profit forecast comes in light; capex goes sky-high
blew past Wall Street’s expectations for second-quarter sales and profit, and the tech giant smashed the accelerator pedal on capex spending. Still, shares were down 3.5% in recent after-hours trading...
These two charts on the AI spending boom have something for everyone
You’ve got to spend money to make money, or so I’ve been told. Cliches become cliches because they simplify a truth we tend to see many examples of, like, for instance, megacap companies pouring hund...
Microsoft joins the $4 trillion club, plans to spend over $30 billion on capex this quarter
had a blowout fiscal fourth quarter, beating estimates for earnings and revenue . In premarket trading, shares surged over 8%, pushing the valuation above $4 trillion, an elite club only shared with ....
Microsoft and Meta’s earnings are making every part of the AI supply chain surge
I didn’t hear no bell. Two knockout earnings reports from tech heavyweights, and , aren’t just causing their stocks to soar this morning — they’re lifting the entire AI complex. These companies are b...
Somehow, Meta just keeps growing — the company’s added an extra 1.38 billion daily active users since 2019
With blockbuster earnings out on Wednesday, many investor eyes were fixated on its AI progress and capex spending — especially after the tech behemoth went on a big shopping spree to establish a “supe...
Meta crushed earnings
is up more than 9% after-hours after the social media and AI behemoth beat second-quarter analyst expectations by a long shot. After market close Wednesday, it posted: Earnings per share of $7.14, ver...
The AI spending boom is eating the US economy
Neil Dutta at Renaissance Macro flagged this eye-popping stat after the advance release of second-quarter US GDP data: “So far this year, AI capex, which we define as information processing equipment ...
Samsung soars after Elon Musk says Tesla signed a deal to buy $16.5 billion in new AI chips
Shares of Samsung Electronics had their best day of the year, rising 6.8% during trading in South Korea after the electronics giant announced a $16.5 billion chip manufacturing deal. Loose terms of th...
Why CoreWeave announcing the date of its Q2 earnings actually matters
, the recently IPO’d provider of access to Nvidia’s GPUs, announced on Wednesday that it will be releasing earnings on August 12 after the market closes . Normally, we would not write about companies ...