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Super Micro Computer (SMCI) shares soared Monday as the server maker reported strong shipments of its graphics processing units (GPUs), driven by artificial intelligence (AI) demand.
The company said it recently deployed 100,000 GPUs with its liquid cooling technology to “some of the largest AI factories ever built.”
Super Micro Computer also announced a new lineup of direct liquid cooling products for servers that it said could help AI firms cut their energy costs.
CEO Charles Liang said the company’s liquid cooling solutions “are now cooling massive, state-of-the-art AI factories, reducing costs and improving performance.” Liang added that data center operators are coming to Super Micro Computer “to meet their technical and financial goals for both the construction of greenfield sites and the modernization of existing data centers.”
Super Micro Computer shares were up over 13% at $46.77 in intraday trading Monday,and have gained about two-thirds of their value since the start of the year. Shares of AI chipmaker Nvidia (NVDA), a partner of Super Micro Computer, also got a boost Monday and have more than doubled in value in 2024 so far.
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Top Stock Movers Now: Humana, Amazon, Apple, And More
U.S. Equities Fell At Midday As The...
Investopedia
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U.S. equities fell at midday as the market reacted to rising oil prices. The Dow Jones Industrial Average, S&P 500, and Nasdaq were all down.
Humana (HUM) shares dropped when Jefferies downgraded the stock, pointing to the negative effect from the insurer's latest ratings for its Medicare offerings.
Apple (AAPL) shares were also hit by a downgrade from Jefferies, which said that expectations for sales of iPhones are too high.
A downgrade from Wells Fargo sent shares of Amazon (AMZN) lower. The bank argued the online retailing giant's positive outlook faces headwinds.
Super Micro Computer (SMCI) shares soared as the tech firm announced it recently sent major artificial intelligence (AI) factories 100,000 graphics processing units (GPUs) with its liquid cooling technology.
Shares of Pfizer (PFE) gained on a report that activist investor Starboard Value took a roughly $1 billion stake in the drugmaker.
Arcadium Lithium (ALTM) shares jumped on word mining giant Rio Tinto (RIO) has approached the lithium producer about an acquisition.
Oil futures continued their climb on Middle East tensions. The yield on the 10-year Treasury note advanced. Gold prices were little changed. The U.S. dollar was up against the pound, lost ground to the yen, and was little changed against the euro. Most major cryptocurrencies traded higher.
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Instablog9ja
2 hrs
9
Kanye West and Bianca Censori are reportedly heading for divorce after less than two years of marriage
According to insiders from TMZ, Kanye West and Bianca Censori have reportedly hit a rough patch and split a few weeks ago.
New York Post reports that Bianca has traveled to Australia to be with her family, while Kanye plans to move to Tokyo. The reasons for their separation remain unclear, but Kanye has been telling friends that he intends to divorce Bianca. He has been seen alone in Tokyo, enjoying local restaurants and events without her, fueling speculation about their split.
The couple, who married in December 2022, was frequently seen together at public events, but they haven’t been spotted together since September 20. Sources also confirm they obtained a confidential marriage license in Palo Alto, California.This marks Kanye’s second divorce, following his marriage to Kim Kardashian, with whom he shares four children.
Investopedia
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Apple (AAPL) shares lost ground Monday after Jefferies downgraded the stock, arguing that the anticipated sales of iPhones are too high.
The bank cut Apple's rating to "hold" from "buy," although it raised its price target to $212.92 from $205.00.
The analysts wrote in a note to clients that "smartphone hardware needs rework before being capable of serious AI, with likely timeline of 2026/27."
They added that "high expectations for iPhone 16/17 are premature."
The analysts pointed out that their outlook for Apple's fiscal 2024 fourth-quarter net sales is less than the Wall Street consensus, and that the tech firm's 33 times full-year estimated adjusted price-to-earnings (P/E) ratio is near an all-time high.
Shares of Apple fell less than 1% Monday morning but are up 17% year-to-date.
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Investopedia
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Pfizer (PFE) shares are rising in premarket trading on a report that activist investor Starboard Value has taken a roughly $1 billion stake; ExxonMobil (XOM) stock is adding to record highs as oil prices continue to surge; Florida prepares for evacuations as Hurricane Milton intensifies in the Gulf of Mexico; Arcadium Lithium (ALTM) stock is soaring as mining giant Rio Tinto makes a takeover approach; and BP (BP) reportedly is abandoning its target to cut oil and gas output by 2030. Here's what investors need to know today.
Shares of Pfizer (PFE) are rising 3% in premarket trading after reported that activist investor Starboard Value has taken a roughly $1 billion stake in the pharmaceutical firm. The move comes as Pfizer's share price has lost roughly half its value since the maker of the first COVID-19 vaccine reached a pandemic peak in 2021. Chief Executive Officer (CEO) Albert Bourla has come under pressure as the share price has fallen, with investors raising worries that he overestimated demand for pandemic-related products and has fallen behind in developing a weight-loss drug.
ExxonMobil (XOM) shares are rising a further 1% in premarket trading after the oil giant closed last week at record levels as oil prices move higher on worries over Middle East tensions. The move comes after WTI crude prices jumped higher by more than 9% last week and Brent crude added 8%. Exxon's stock has risen despite a filing last week from the oil giant that projects lower oil prices and refining margins will hurt third-quarter profit on a sequential basis.
Florida residents are preparing for potentially the largest evacuation in seven years as Hurricane Milton quickly strengthened to a Category 3 storm in the Gulf of Mexico. The storm is projected to make landfall in the Tampa area on Wednesday and remain a hurricane as it moves across the state toward the Atlantic Ocean. The storm's path isn't expected to hit the Appalachians, where Hurricane Helene caused catastrophic damage two weeks ago.
Shares of Arcadium Lithium (ALTM) are surging 30% in premarket trading after it confirmed a takeover approach by mining giant Rio Tinto. The acquisition would expand Rio Tinto's operations into metals used for clean energy, as the company is better known for its copper, iron ore, and diamond extraction. The acquisition would make Rio Tinto one of the world's top producers of lithium, a key element used in making electric vehicle (EV) and laptop batteries.
BP (BP) is abandoning its target to cut oil and gas output by 2030, as executives at the firm turn their attention to near-term returns, according to a report. After setting a goal in 2020 to cut its oil and gas output by 40% in a decade, BP scaled that goal back to 25% in February, and now is looking at projects in the Middle East and Gulf of Mexico to boost its oil and gas output, the report said. American depositary receipts (ADRs) of BP are up about 1% in premarket trading.
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Instablog9ja
4 hrs
13
President Bola Tinubu has called on Governor Siminalayi Fubara, political leaders and their supporters in Rivers State to exercise restraint and uphold the rule of law.
In response to recent tensions following last Saturday’s local government council election, the President expressed deep concern over reports of arson and explosions in the state. He urged all political actors to de-escalate the situation and discourage their supporters from engaging in v olence or destr ctive actions.
President Tinubu directed the police to restore and maintain peace, law, and order immediately.
While instructing law enforcement agencies to bring the situation under control, he emphasised the need to ensure the security of public institutions. President Tinubu said government facilities built with public funds must be safeguarded from vandalism.
He stressed that self-help has no place in a democratic system, especially after 25 years of continuous democracy.
According to President Tinubu, the judiciary can settle all political disputes, and the outcome of this election should be no exception.
