Nvidia falls almost 10 per cent

Nvidia falls almost 10 per cent

Chip giant Nvidia sees shares tumble by almost 10 per cent, wiping out close to $300bn of its market cap – the largest single-day fall in value of any American company on record. As a result, Wall Street notches its worst day since the tech rout seen in early August. The sell-off spreads across to Asia where Japan’s Nikkei leads losses. Semi-conductor firms TSMC, SoftBank, Samsung and SK Hynix are all in the red. In the U.S. factory activity contracts as the ISM comes in at 47.2. We hear from former Cleveland Federal Reserve President Loretta Mester who says the markets need to examine the rate projections beyond the September Fed meeting. BofA joins an ever-expanding list of American banks which doubt China’s 5 per cent GDP growth target. The private Caixin survey shows a slowdown in services growth. And in oil news, crude prices extend losses after falling more than 4 per cent yesterday with investors banking on greater supplies coming out of Libya.

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OpenAI targets $1tn US listing

OpenAI targets $1tn US listing

OpenAI decides to confidentially file to list with a reported target valuation of $1tn. Perplexity CEO Arvand Srinivas tells CNBC he hopes to take his company public in the medium term and that the su...

9 Kesä 29min

Israel and Iran trade missile strikes

Israel and Iran trade missile strikes

Israel and Iran have exchanged fire for the first time since April which pushes oil futures higher and potentially jeopardizing a peace agreement. The A.I. sell-off on Friday continues into the new we...

8 Kesä 25min

SpaceX IPO roadshow launches

SpaceX IPO roadshow launches

Bankers tap the extraordinary valuation of SpaceX ahead of its listing next week. Goldman Sachs has reportedly forecast a 100-fold revenue increase by 2030 for the company. However, S&P Dow Jones Indi...

5 Kesä 25min

SpaceX targets $1.8tn valuation in record market debut

SpaceX targets $1.8tn valuation in record market debut

SpaceX eyes a valuation of almost $1.8tn at its listing next week. It has marketed more than half a billion shares at $135 which will make it the largest IPO of all time. The U.S. equity markets end a...

4 Kesä 28min

SpaceX targets $75bn IPO raise

SpaceX targets $75bn IPO raise

SpaceX is reportedly planning a float share price of $135, eyeing around a $75bn IPO raise. However, Morningstar analysts believe the figure is hugely overpriced while Goldman Sachs CEO David Solomon ...

2 Kesä 29min

Anthropic files confidentially for U.S. listing

Anthropic files confidentially for U.S. listing

Anthropic is joining the A.I. IPO race, filing confidentially following last week’s latest funding session revealed the company being valued at close to $1tn. However, Open AI’s Sam Altman tells CNBC ...

2 Kesä 26min

Softbank poised to make €75bn France A.I. investment

Softbank poised to make €75bn France A.I. investment

We are live in Paris where Japan’s Softbank has pledged up to €75bn for Europe’s largest A.I. data centre project. Asian chip stocks are in the green as investors eye potential meetings with Nvidia CE...

1 Kesä 25min

Oil falls back on renewed peace agreement optimism

Oil falls back on renewed peace agreement optimism

Oil dips after a White House official says the U.S. and Iran are close to a temporary peace agreement. Vice President JD Vance says he feels ‘pretty good’ about how negotiations are progressing. Today...

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