FTSE 100 close: London markets rally after ‘blockbuster’ Nvidia results as investors bet rates are nearing peak August 24, 2023 London markets stood out among global peers as investors bet that the Bank of England was nearing the end of their rate hiking cycle. The bluechip FTSE 100 index climbed 0.24 per cent to trade at 7,338.16 The midcap FTSE 250 index slipped 0.11 per cent to 18,206.37. Indexes in Paris and Frankfurt fell, having [...]
Wall Street cheers Nvidia results as AI chip designer lives up to expectations August 24, 2023 Hunger for Nvidia’s artificial intelligence (AI) chips has propelled its sales to $13.5bn (£10.6bn) in its second quarter, more than doubling from a year ago. The American tech behemoth’s data centre business drove most of the sales, soaring 170 per cent compared to the same period last year, up to $10.3bn (£8.1bn). Nvidia’s data centre business sells the company’s [...]
The Notebook: Andy Silvester on how AI could save your August out-of-office, a dream headline and why GCSEs need a rethink August 24, 2023 Embrace the long break, even if it’s made my job harder August has never felt so – for want of a much better word – Augusty. It’s mighty quiet out there, and that isn’t just because of the City’s long-discussed issues attracting floats and the slowdown in M&A. Indeed, more and more of my contact [...]
Bitcoin finds its feet while Ethereum continues to stumble August 23, 2023 Bitcoin is trading around $26k this morning, virtually unmoved from yesterday, while Ethereum has drifted into the negative by 1.4%.
Still going strong: Traders all-in on Nvidia hype train August 23, 2023 Nvidia’s shares hit an all-time high on Tuesday, just before the chip designer shares its earnings later today. Stock in the Nasdaq-listed company soared to an all-time high of $481.87 on Tuesday at market open before dipping 2.76 per cent again yesterday. On Monday, the shares received an eight per cent boost. It surpassed its [...]
Bitcoin and Ethereum attempt to steady the line as altcoins get picked off August 22, 2023 Bitcoin and Ethereum remain on the same steady path since yesterday, with the leading crypto by market cap trading a notch above $26k.
Arm announces Nasdaq float in largest US IPO in 2 years August 22, 2023 SoftBank-owned chip designer Arm has confirmed it will float on New York’s Nasdaq next month in what will be the largest US initial public offering (IPO) in almost two years. Arm, which licenses its chip designs to tech giants like Apple, Nvidia, and Qualcomm, has said the offering is being led by Barclays, Goldman Sachs, [...]
ARM muscles up for bumper IPO with $70bn valuation and 28 rostered banks August 22, 2023 SoftBank Group Corp’s Arm Holdings Ltd reported a 1% fall in annual revenue due to a slowdown in smartphone sales, after the chip designer disclosed the paperwork for an initial public offering (IPO) that is expected to be the largest of the year. Arm’s stock market launch is expected to bring back to life a lackluster IPO [...]
Zoom: Share bump after pumping up full year guidance August 22, 2023 Pandemic darling Zoom beat expectations and raised full year guidance in its second quarter as it remains hopeful in its long-term strategy - although customer growth is sluggish.
Bitcoin and Ethereum virtually unmoved since yesterday, but the bruises are starting to show August 21, 2023 Although holding steady for 24 hours, Bitcoin is down 11% over seven days while Ethereum has dropped by 9% over the same period.