Cisco CEO Chuck Robbins speaks at the Semafor World Economy summit in Washington on April 15, 2026. Alex Wong | Getty Images Cisco shares soared 17% in extended trading on Wednesday after the networking company issued results and guidance that topped Wall Street’s projections. The company said it’s cutting its workforce this quarter by fewer…
Lotus Emira, a sports car, is on display during the 20th Shanghai International Automobile Industry Exhibition at the National Exhibition and Convention Center (Shanghai) on April 21, 2023 in Shanghai, China. Vcg | Visual China Group | Getty Images LONDON — The chief executive of British sports carmaker Lotus poured cold water on the idea…
Cerebras Systems, a maker of artificial intelligence chips, priced its IPO at $185 a share on Wednesday, above the expected range, according to a person with knowledge of the matter. The deal comes as investors gear up for what’s expected to be a very busy year for new AI offerings. The IPO reeled in at…
Jaap Arriens | Nurphoto | Getty Images Alibaba shares jumped on Wednesday as investors liked the e-commerce giant’s bullish tone on AI, even as it reported a plunge in its core profit for the March quarter. Following the release of Alibaba’s earnings, the stock fell by as much as 4% in pre-market trade. But it…
SoftBank CEO Masayoshi Son and OpenAI CEO Sam Altman attend an event to pitch AI for businesses in Tokyo, Japan Feb. 3, 2025. Kim Kyung-Hoon | Reuters SoftBank booked a yearly gain of $46 billion at its Vision Fund driven mainly by the huge rise in value of its investment in OpenAI. The Japanese giant…
Piotr Swat | Lightrocket | Getty Images Telehealth company Hims & Hers’ stock plummeted in early trading Tuesday after posting a first-quarter loss and weak earnings guidance for the year ahead. The digital health firm reported a net loss of $92 million in its first quarter earnings on Monday, compared with roughly $50 million for…
OAKLAND, Calif. — In a trial featuring a clash between Elon Musk and OpenAI CEO Sam Altman, neither of the tech titans has emerged as an overly sympathetic character. But nobody has more to lose than Altman, who is expected to take the stand this week to defend himself. Already, testimony about Altman’s turbulent tenure…
An employee of Basra Oil Company, works at the Nahr Bin Umar Oil and Gas Field on the outskirts of the southern Iraqi city of Basra on April 29, 2026. Hussein Faleh | Afp | Getty Images Oil and gas giants benefited significantly from their trading desks through the first quarter, shining a light on…
NEW YORK (AP) — Costs are piling up for businesses during the U.S. and Israel’s war against Iran — and many economists see a bleak outlook, with some bracing for a downturn in hiring and investment in the coming months. Nearly half of American business economists who responded to a survey by the National Association…
CNBC’s Jim Cramer said the market continues to be driven overwhelmingly by enthusiasm around semiconductors and data center stocks, and next week will test whether investors keep rewarding nearly any positive AI-related development. “This market keeps going up and up on the same old stuff: news about semiconductors, even old news about semiconductors, retreaded news…