News
Market news, earnings recaps, and daily moves in AI and semiconductor stocks.
Meta (META) hires MongoDB's CEO to lead new enterprise AI business; MDB shares fall more than 20%
Meta is launching a business to sell its AI tools to companies and hired MongoDB CEO CJ Desai to run it. MongoDB named an interim chief as its shares fell.
Nvidia (NVDA) adds $150 billion to its buyback in what the company calls the largest increase in history
Nvidia added $150 billion to its buyback, a record increase by the company's count, and expects to use the authorization through fiscal 2028. Apple's $110 billion authorization in 2024 was the US record at the time.
Micron (MU) rivals Nvidia (NVDA) as a driver of S&P 500 profit growth going into its Sept. 30 report
LSEG and FactSet data rank Micron among the biggest drivers of S&P 500 profit growth, ahead of Nvidia. Micron's Sept. 30 results beat estimates, but can memory keep carrying the index?
Korea's HLB (028300) wins FDA approval for bile duct cancer drug; liver cancer treatment remains unapproved
Korean drug company HLB won U.S. approval for its bile duct cancer drug, and the stock hit Korea's daily limit. Its liver cancer treatment remains unapproved.
Meta's (META) Muse can cancel subscriptions you forgot about. That's a problem for sellers
Meta's Muse AI agent can help people find and cancel subscriptions they forgot about, CNBC reported. Stanford research suggests sellers have a lot riding on that forgetfulness.
China signals it may let ByteDance and Alibaba buy Nvidia's (NVDA) new RTX PRO 5500
China's industry ministry has signaled it may approve purchases of Nvidia's new RTX PRO 5500 by ByteDance, Alibaba, and others, The Information reported. The chip is built differently from Nvidia's top AI accelerators.
Sony (SONY) brings 8,000 chip workers back to the office for physical AI push
Sony's chip unit will bring about 8,000 employees back to the office starting in October, Nikkei reported. Sony expects in-person work to help build new businesses such as physical AI.
Apple (AAPL) hit with record $5.72 billion patent verdict over iPhone vibrations, plans appeal
A federal jury found that Apple's Taptic Engine infringed two Taction Technology patents and awarded $5.72 billion, which Reuters called the largest U.S. patent verdict to date. Apple plans to appeal.
Hackers renew attacks on Oracle (ORCL) PeopleSoft and claim theft of FBI medical records
Google's Mandiant says ShinyHunters is again exploiting a patched Oracle PeopleSoft flaw on servers that relied on firewall rules. The group separately claims it stole medical records from the FBI's job applicant site.
Berkshire Hathaway (BRK-B) nearly doubles its Lennar (LEN) stake after buying Taylor Morrison
Berkshire Hathaway lifted its stake in Lennar's Class A shares to about 12% with purchases from September 17 to 25, two months after buying Taylor Morrison outright. The filings don't explain the strategy or say whether Berkshire will keep buying.
Metallus (MTUS) gets a five-year Pentagon shell-steel contract worth up to $995 million, more than its market value
The Defense Logistics Agency awarded Metallus a sole-source contract worth up to $995 million for artillery shell steel. For scale, the five-year ceiling exceeds the Canton, Ohio steelmaker's market value.
New Jersey fines DataOne $1.07 million over unpermitted generators at Nebius (NBIS) site serving Microsoft
New Jersey fined DataOne $1.07 million for running 62 gas generators without air permits at the Vineland data center that DataOne is building for Nebius. DataOne has 45 days to apply for permits.
France's Goncourt Prize drops a debut novel after claims it was written with AI
The Académie Goncourt removed Thélyson Orélien's debut novel from its longlist, saying researchers and journalists had shown it was likely written largely with AI. Orélien denies using AI, and some experts question how reliable AI detectors are.
SK Hynix's (SKHY) Solidigm weighs an IPO that could value it at up to $150 billion
Solidigm, SK Hynix's US storage unit, is weighing an IPO as early as next year that could value the business at up to $150 billion, Reuters reported. SK Hynix says nothing has been decided, and the size and timing remain preliminary.
Super Micro (SMCI) CEO says SpaceXAI build is moving 'full speed ahead,' teases a year-end surprise
Supermicro CEO Charles Liang said on X that the company is moving full speed ahead on data center work for SpaceXAI and promised a surprise before year-end. He gave no deal size or details.
Oracle (ORCL) is building its New Mexico data center before its power plant has an air permit or a gas supply line
A report released by a New Mexico law group lists what is still unresolved at Oracle's Project Jupiter: the power plant's air permit, a delayed gas pipeline, water limits, tax-break lawsuits, and jobs.
Korea pitches AI projects in Africa as cloud supplier Elice prepares its Kosdaq IPO
Korea is pitching AI infrastructure and cloud services to African countries, competing with China's railway and road loans, Hankyung reported. Elice Group, which supplies the cloud, opens retail IPO orders October 7.
Microsoft (MSFT) brings coding and agents into one Copilot app, with usage-based charges
Microsoft is rebuilding Copilot around Home, Code, and Autopilot, and will bill the heavier agent work by usage. CNBC reported that the move is meant to help Microsoft compete in business AI, where Anthropic has been gaining traction.
SK Hynix wants a large site at Gwangju's air base. Samsung's next talks are on October 6
A Jeonnam-Gwangju city summary says SK Hynix wants as much land as possible at the planned chip cluster, while Samsung is pushing to start sooner. Samsung's next talks are October 6.
Tesla (TSLA) ramps Optimus to hundreds a week as hand and supplier problems persist, report says
Tesla has raised Optimus production from a few dozen robots a week to several hundred, but hand assembly, touch sensors, and supplier quality are slowing the ramp toward 1,000 a week, The Information reported.
Nscale raises $2.36 billion in pre-IPO notes led by Third Point. Nvidia (NVDA) commits $1 billion.
Nscale, which has filed to list on the NYSE, raised $2.36 billion in convertible loan notes led by Third Point, and Nvidia committed another $1 billion due in mid-November. The notes convert into shares automatically when the IPO is completed.
Anthropic commits $11.6 billion to Akamai (AKAM), with a warrant for up to a 5% stake
Anthropic has committed about $11.6 billion to dedicated Akamai cloud capacity for CPU workloads under two seven-year project plans, with room to expand by up to $9 billion. Akamai issued Anthropic a warrant covering the equivalent of about 5% of its common stock, vesting in stages on a first payment and further commitments.
Goldman Sachs (GS) reportedly made over $200 million this year from Leopold Aschenbrenner's fund
Goldman Sachs reportedly earned more than $200 million in fees this year from lending to Leopold Aschenbrenner's Situational Awareness, a fund that nearly collapsed in July and now plans to borrow less.
Pasqal (PSQL) reports $80 million in booked business, including grants and tax credits. Firm orders total $41.8 million.
Pasqal reported 70.4 million euros ($80.0 million) of booked and awarded business, a figure that includes grants and tax credits, in its first results as a Nasdaq company. Its firm order book was 36.8 million euros ($41.8 million), and first-half revenue rose 14% to 4.9 million euros.