Month: August 2025
Nvidia’s top two mystery customers made up 39% of the chipmaker’s Q2 revenue
Two Nvidia customers made up 39% of Nvidia’s revenue in its July quarter, the company revealed in a financial filing on Wednesday, raising concerns about the concentration of the chipmakers clientele. “Customer A” made up 23% of total revenue, and “Customer B” comprised 16% of total revenue, according to the company’s second-quarter filing with the […]
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Trump railroad regulator was fired by White House after Amtrak Acela event
A member of the U.S. rail regulatory board said he discovered that he had been fired by the Trump administration after returning home from an Amtrak event to unveil new high-speed Acela trains. “I was just as surprised as anyone else,” the former Surface Transportation Board member, Robert Primus, told CNBC’s Eamon Javers on Thursday in […]
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Intel gets $5.7 billion from Trump deal as White House says details are ‘being ironed out’
Intel CFO David Zinser said that the semiconductor giant received $5.7 billion from the U.S. government on Wednesday evening. Zinsner acknowledged the investment on Thursday during an investor conference. The investment is part of the White House’s decision last Friday to take a 10% stake in the beleaguered computer chip company. Zinser also signaled the […]
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Why the end of ‘de minimis’ can hurt consumers — especially lower-income ones
Containers are loaded and unloaded at Port Jersey Container Terminal in New Jersey, on May 1, 2025. Mostafa Bassim/Anadolu via Getty Images The Trump administration is scrapping the “de minimis” rule on Friday, a move likely to raise prices for consumers who buy inexpensive goods online and that may trigger near-term shortages for certain items, […]
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Microsoft starts testing AI model that could escalate competition with OpenAI
Mustafa Suleyman, CEO of Microsoft AI, speaks at an event commemorating the 50th anniversary of the company at Microsoft headquarters in Redmond, Washington, on April 4, 2025. David Ryder | Bloomberg | Getty Images Microsoft has largely relied on OpenAI’s artificial intelligence models to power AI features in its key products. It’s trying to lessen […]
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Lisa Cook’s lawsuit against Trump skirts mortgage fraud allegation
Key Points Fed Governor Lisa Cook’s lawsuit against Donald Trump challenges his ability to remove her from office but only briefly addresses the central accusations that she committed mortgage fraud. Cook did call mortgage fraud accusations “unsubstantiated and unproven” without going into detail. In a statement to CNBC, Federal Housing Finance Agency Director Bill Pulte […]
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S&P 500 rises to record as Nvidia results validate AI boom: Live updates
Traders work on the floor of the New York Stock Exchange on July 30, 2025. Spencer Platt | Getty Images The S&P 500 reached new heights on Thursday as traders pored over Nvidia’s earnings results and forecast. Investors largely looked at the numbers as affirming the AI boom. The broad market index was last 0.2% […]
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Nike to lay off about 1% of corporate staff in its latest effort to refocus the business
A Nike store in Hanoi, Vietnam, on July 3, 2025. Nhac Nguyen | Afp | Getty Images Nike is planning another round of layoffs as part of CEO Elliott Hill’s efforts to realign the business and get it back to growth, CNBC has learned. The cuts will impact less than 1% of Nike’s corporate staff. […]
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Stocks making the biggest moves midday: Nvidia, Pure Storage, Snowflake, Hormel and more
Check out the companies making headlines in midday trading: Nvidia — The graphics processing unit manufacturer slipped more than 1% after its data center revenue came in below estimates for the second straight quarter. However, Nvidia posted a second-quarter earnings and revenue beat. Hormel — The food company’s stock fell more than 13% to a […]
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European Union to remove tariffs on U.S. industrial goods, triggering cuts for EU autos
Rows of Volkswagen ID Buzz electric buses are parked at the National City Marine Terminal, a major port for vehicle imports and exports to the U.S. Kevin Carter | Getty Images News | Getty Images The European Union formally proposed Thursday to remove tariffs on American industrial goods, fulfilling a key element of the U.S.-EU framework […]
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