Activist Jana, in letter, urges Wolfspeed to eye sale, other strategic alternatives
By Svea Herbst-Bayliss
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Exclusive-China acquired recently banned Nvidia chips in Super Micro, Dell servers, tenders show
By Eduardo Baptista, Fanny Potkin and Max A. Cherney
Vietnam's FPT to invest $200 million in AI factory using Nvidia chips
HANOI (Reuters) – Vietnam's top tech firm FPT plans to build a $200 million artificial intelligence (AI) factory using Nvidia (NASDAQ:NVDA)'s graphics chips and software, the two firms said on Tuesday.
Earnings call: SAP sees record cloud growth in Q1 2024
SAP SE (ETR:SAPG) (SAP) reported a robust start to 2024, with its first-quarter earnings showcasing a significant surge in cloud revenue and backlog, alongside a healthy increase in operating profit. The company's cloud revenue climbed by 25% to EUR 3.9 billion, while the current cloud backlog expanded by 28% to a record EUR 14.2 billion. Operating profit rose by 19% to EUR 1.5 billion, reflecting strong performance across various regions and a strategic focus on cloud and AI-driven growth.
Apple’s iPhone sales plummeted 19% in March quarter, per Counterpoint data
According to Counterpoint Research, Apple’s (AAPL) iPhone sales in China plummeted by 19% during the March quarter, marking the device's poorest performance in the region since the onset of Covid around 2020.
Renault posts revenue beat in Q1, confirms full-year outlook
On Tuesday, Renault reported a 1.8% increase in first-quarter revenue, driven by higher sales from its financing arm due to rising interest rates, and a 2.6% increase in car sales volumes compared to the previous year.
Elon Musk pushed for 20% headcount reduction in Tesla- Bloomberg
Investing.com– Elon Musk had pushed for a 20% headcount reduction in Tesla Inc (NASDAQ:TSLA), Bloomberg reported on Sunday, citing a source close to the EV maker’s CEO as it undertakes a pivot into autonomous vehicles following a drop in deliveries.
US commerce secretary downplays chip in advanced Huawei phone
WASHINGTON (Reuters) – The chip powering the Mate 60 Pro phone of sanctioned Chinese company Huawei is not as advanced as American chips, U.S. Commerce Secretary Gina Raimondo said on Sunday, arguing that it shows U.S. curbs on shipments to the telecoms equipment giant are working.
Vietnam set to launch new stocks trading system in bid for market upgrade
By Phuong Nguyen and Francesco Guarascio
Analysis-'Overdue' pullback in US stocks to test dip-buyers' resolve
By Lewis Krauskopf and Saqib Iqbal Ahmed