Jensen Huang, chief executive officer of Nvidia Corp., speaks to members of the media in Beijing, China, on Wednesday, July 16, 2025. Na Bian | Bloomberg | Getty ImagesNvidia is looking to ship more advanced chips to China than its current generation, CEO Jensen Huang said on Wednesday, as he looks to revitalize sales in the world’s second-largest economy.The comments come after Nvidia said on Monday that it will resume sales of its H20 artificial intelligence chip to China, reversing a previous ban. The H20 is a less-advanced semiconductor designed for AI workloads that comply with U.S. export restrictions to…
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People walk out of the Morgan Stanley global headquarters in Manhattan on March 20, 2025 in New York City. Spencer Platt | Getty ImagesMorgan Stanley on Wednesday reported second-quarter results that crushed Wall Street expectations on the back of higher trading revenues.Here’s what the bank reported for the second quarter compared with what Wall Street was expecting, based on a survey of analysts by LSEG:Earnings per share: $2.13 vs. $1.96 expectedRevenue: $16.79 billion versus $16.07 billion expectedNet income rose 13% to $3.5 billion, or $2.13 per share, from $3.1 billion, or $1.82 per share, for the same period a year ago.Institutional securities reported net…
Nvidia CEO Jensen Huang speaks to journalists as he arrives for a press conference at a hotel in Beijing on July 16, 2025. Adek Berry | Afp | Getty ImagesBEIJING — Nvidia CEO Jensen Huang was all smiles and compliments as he made his third trip to China in just about half a year.As the leader and co-founder of the world’s first, newly-minted $4 trillion market cap company, Huang had particular reasons to be happy when he met the press on Wednesday: Nvidia expected it would be able to resume sales of its less advanced H20 artificial intelligence chips to…
Shares of GDS Holdings may see a boost as artificial intelligence darling Nvidia resumes shipments to China, according to JPMorgan. The firm upgraded the data center stock to overweight from neutral and raised its price target to $46 from $34. That updated target calls for about 22% upside from Monday’s closing level. Earlier this week, Nvidia said that it hopes to start deliveries of its H20 general processing units “soon” after the U.S. government assured it that licenses would be granted. The company halted sales back in April after the U.S. government said that it would need a license to…
Check out the companies making headlines in premarket trading. Bank of America — Shares popped 1.5% after the bank earned 89 cents per share for the second quarter, beating the consensus forecast of 86 cents a share from analysts polled by LSEG. But revenue came in at $26.61 billion, slightly below the $26.72 billion figure penciled in by Wall Street. Morgan Stanley — Shares ticked 0.3% lower despite the financial institution beating second-quarter estimates. Morgan Stanley earned $2.13 per share and saw $16.79 billion in revenue, while analysts anticipated earnings of $1.96 a share and $16.07 billion in revenue, per…
Nurphoto | Nurphoto | Getty ImagesCryptocurrencies and several stocks tied to the ecosystem rose Wednesday as investors dismissed a snag in what was expected to be a winning week for crypto regulation.Bitcoin was last higher by 2% at $119,114.79, according to Coin Metrics, while ether rose 3% to $3,156. Shares of stablecoin issuer Circle added more than 1% premarket and crypto services firm Coinbase gained about 0.5%, after both closed lower in the previous session. Ether treasury stocks continued their rally: BitMine surged 24%, while SharpLink jumped 14% and Bit Digital gained 5%.On Tuesday, prices dipped briefly after the House…
Alpha Jets of the French Air Force Elite aerobatic flying team “Patrouille de France” perform a fly-over during a ceremony at the Arc de Triomphe for the 80th anniversary of VE Day, or Victory in Europe Day, marking the end of World War II in Europe, in Paris, on May 8, 2025. Thomas Samson | Afp | Getty ImagesFrance is flirting with the idea of cutting two public holidays as the government targets more spending cuts to plug a budget black hole.French Prime Minister François Bayrou announced plans for spending cuts on Tuesday as the government targets 43.8 billion euros’…
Advanced Micro Devices is a buy ahead of its upcoming earnings report and has room to grow in the next few months, Wells Fargo said on Wednesday. Analyst Aaron Rakers reiterated his overweight rating on the name and increased his price target to $185 from $120. That reflects 18.9% upside from Tuesday’s close. “We think AMD will point to confidence in the trajectory to y/y AMD’s datacenter GPU growth into 2H25,” Rakers wrote in a Wednesday note, adding that such growth will be driven by the ramp up of MI355X chips , which began shipping last month. The analyst’s forecast…
Victor Becerra surveys his property located next door to a recently sold property on Wapello St. in Altadena, CA on June 4, 2025. Robert Gauthier | Los Angeles Times | Getty ImagesRenewed concerns over tariffs and the broader economy drove treasury yields higher last week, and mortgage rates followed. As a result, total mortgage application volume dropped 10% last week compared with the previous week, according to the Mortgage Bankers Association’s seasonally adjusted index.The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances, $806,500 or less, increased to 6.82% from 6.77%, with points remaining unchanged at 0.62,…
Brian Moynihan, CEO of Bank of America, leaves the U.S. Capitol after a meeting with Republican members of the Senate Banking, Housing and Urban Affairs Committee on the issue of debanking on Thursday, February 13, 2025. Tom Williams | Cq-roll Call, Inc. | Getty ImagesBank of America is scheduled to report second-quarter earnings before the opening bell Wednesday.Here’s what Wall Street expects:Earnings: 86 cents per share, according to LSEGRevenue: $26.72 billion, according to LSEGNet Interest Income: $14.89 billion, according to StreetAccountTrading: Fixed income of $3.14 billion, equities of $2.14 billion, according to StreetAccountBank of America is likely to have benefited from…
