Month: June 2024
Intel wants to build ‘everybody’s AI chips,’ CEO says, as company plays catch-up with rivals
Intel wants to regain its position as the world’s leading chipmaker, CEO Pat Gelsinger said, after being overtaken by rivals TSMC and Samsung in recent years. “We want to build everybody’s chips, everybody’s AI chips. We want them to be built leveraging the U.S. factories,” Gelsinger told CNBC on the sidelines of the Computex tech […]
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Goldman-backed Starling states no options to go after EU financial institution license, enlargement to come from computer software
Important Points Digital lender Starling will not re-apply for a European Union banking license and will as a substitute go after intercontinental enlargement through its software program enterprise Motor, incoming CEO claimed. Engine is a software platform that Starling sells to other providers, so that they can established up their personal electronic banks. Raman Bhatia […]
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European Central Bank set to cut rates for the first time since 2019
President of the European Central Bank (ECB) Christine Lagarde arrives to address a press conference following the meeting of the governing council of the ECB in Frankfurt am Main, western Germany, on April 11, 2024. Kirill Kudryavtsev | Afp | Getty Images FRANKFURT — The European Central Bank this week is set to cut borrowing […]
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Qualcomm-backed firm launches most current AI chips — posing a obstacle to giants like Nvidia
Albert Liu, founder and CEO of Kneron. Harry Murphy | Sportsfile | Getty Illustrations or photos Kneron, an synthetic intelligence chip startup, released its upcoming-generation products and solutions on Wednesday as it appears to be like to dollars in on AI curiosity from enterprises and give an alternative to giants like Nvidia and AMD. The […]
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Zara proprietor Inditex stories slowing quarterly profits development
A shopper enters Spanish retail shop Zara, a brand name less than the umbrella of multinational attire conglomerate Inditex. Sopa Photos | Lightrocket | Getty Visuals Zara owner Inditex grew its revenue by 7% in the initially quarter of its fiscal year, it said on Wednesday, in line with analysts’ expectations. The general performance represented […]
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India stocks steady after massive declines as investors digest election results; broader Asia markets mixed
Indian Prime Minister Narendra Modi gestures as he arrives at Bharatiya Janata Party (BJP) headquarters in New Delhi, India, June 4, 2024. Adnan Abidi | Reuters Asia-Pacific markets were mixed on Wednesday, with stocks in India stabilizing after a heavy sell-off in the previous session as investors assessed India’s election results. The Nifty 50 index edged […]
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Citadel and BlackRock back job to start a nationwide stock exchange in Texas
Key Details TXSE Chairman and CEO James Lee reported the Dallas-headquartered group has raised $120 million with the assist of much more than two dozen investors. The Wall Road Journal noted on the endeavor previously, stating the exchange is billing itself as a “far more-CEO pleasant” substitute to the New York Stock Trade and Nasdaq […]
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Fintech firm Nium cuts valuation by 30% in new funding round, eyes 2025 IPO
Westend61 | Westend61 | Getty Images AMSTERDAM, Netherlands — Financial technology startup Nium told CNBC Wednesday it raised $50 million in new funds from investors, and is targeting an initial public offering in the next 18 months. The fundraising round was led by an undisclosed Southeast Asian sovereign wealth fund and backed by venture capital […]
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India’s stock markets erase $371 billion after ruling BJP falls short of election expectations
Pedestrians walk past a digital broadcast displaying share prices on the facade of Bombay Stock Exchange (BSE) on the day of India’s general election result in Mumbai on June 4, 2024. Punit Paranjpe | Afp | Getty Images India’s markets saw their worst one-day loss in about four years as the electoral performance of Prime […]
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CNBC Daily Open: Roaring Kitty’s wealth, Modi’s victory
Traders work on the floor of the New York Stock Exchange (NYSE) in January, 2024 in New York City. Spencer Platt | Getty Images This report is from today’s CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. […]
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