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AMD shares explode on booming data center business

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AMD shares explode on booming data center business

Advanced Micro Devices shares soared 20% premarket on Wednesday following Tuesday's blowout earnings report. Fueled by a 57% increase in its data center business, the chipmaker nearly doubled its net income from last year, while revenue climbed 38% to $10.25 billion. The demands of artificial intelligence continue to buoy the entire sector, and AMD CEO Lisa Su called data centers the "primary driver of our revenue and earnings growth." The company anticipates $11.2 billion in revenue for the next quarter, with its Helios rack-scale systems due later this year.

2 min read WebNovare

AMD Delivers Strong Quarter as Focus Shifts to AI Systems Q1 earnings highlight growth, but attention turns to future AI infrastructure AMD reported an impressive first quarter, exceeding expectations on both revenue and earnings. The company posted $10.25...

CoreWeave executives sell over $1B in stock amid AI boom

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CoreWeave executives sell over $1B in stock amid AI boom

CoreWeave is one of the most successful among a crop of firms delivering the infrastructure for AI. Its top execs have quietly sold off shares.

2 min read WebNovare

Executives at AI infrastructure firm CoreWeave, including CEO Michael Intrator, have sold off more than $1 billion in stock since the start of the year, Business Insider reports, raising questions about their long-term commitment despite impressive revenue...

Apple eyes US chip partnerships with Intel, Samsung

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Apple eyes US chip partnerships with Intel, Samsung

For over a decade, Apple has relied on one company to supply processors for its devices: Taiwan Semiconductor Manufacturing Co. But the iPhone maker recently held preliminary talks with Intel and Samsung to build chips in the U.S. instead, Bloomberg reports, citing anonymous sources. The report sent Intel shares surging to an all-time high Tuesday. Bringing production stateside could helping Apple keep up with booming demand tied to AI's growth, and offer insulation from any Chinese interference in Taiwan, where most of TSMC's chips are made.

2 min read WebNovare

Should Apple put Intel inside again? Apple has reportedly held exploratory talks with Intel and Samsung about producing processors for its devices in the United States. Apple executives have even made visits to a Samsung plant under development in Texas. In...