{ }
Symbol NVDA
Name NVIDIA Corporation
Currency USD
Sector Information Technology
IndustryGroup Semiconductors & Semiconductor Equipment
Industry Semiconductors & Semiconductor Equipment
Market NASDAQ Global Select
Country United States
State CA
City Santa Clara
Zipcode 95051
Website http://www.nvidia.com
Nvidia Corp., a key player in the artificial intelligence sector, will replace Intel Corp. in the Dow Jones Industrial Average, effective before trading begins on Nov. 8. Additionally, Sherwin-Williams Co. will join the index, taking the place of Dow Inc.
Super Micro's stock plummeted 45% this week, erasing all gains for 2024, after losing its second auditor in less than two years. The company faces scrutiny from the DOJ over potential accounting manipulation and related-party transactions, raising concerns about its compliance with Nasdaq listing rules. Despite reporting a significant revenue increase, the ongoing challenges have left Super Micro at risk of delisting.
Amazon shares surged 6% after reporting better-than-expected earnings, driven by growth in cloud computing and advertising. Revenue rose 11% to $158.9 billion, with earnings of $1.43 surpassing estimates. The company plans to invest $75 billion in capital expenditures for 2024, primarily to enhance technology infrastructure and capitalize on generative AI opportunities.
Philips is advancing healthcare with innovative AI solutions, launching products like the CT 5300 scanner and Smart Quant Neuro 3D for brain disorder diagnostics. The company is also expanding partnerships, notably with AWS, to enhance pathology image analysis and streamline workflows. Meanwhile, residents of "Cancer Alley" in Louisiana face severe pollution and health risks, with new research indicating that cancer risks from ethylene oxide exposure are significantly underestimated, exacerbating the community's plight.
The Nasdaq led a significant sell-off in US stocks, dropping 2.7% after earnings reports from Meta and Microsoft raised concerns about rising AI costs impacting profitability. The S&P 500 and Dow also recorded monthly losses, ending a five-month gain streak. Despite initial worries, Amazon's stock rose after it exceeded revenue and earnings expectations, while Apple shares fell slightly due to a one-time charge. Investors are awaiting the upcoming jobs report and the Federal Reserve's policy decision next week.
BlackRock has launched the iShares Top 20 U.S. Stocks ETF (TOPT) to provide investors with a diversified option beyond the 'Magnificent Seven'—the largest tech stocks. This ETF includes the 20 largest U.S. stocks by market capitalization, aiming to capture growth while addressing concerns over the concentration of mega-cap companies. Since its launch on October 23, the ETF has seen a 2% decline.
Patronus AI has launched the first self-serve API designed to detect and prevent AI hallucinations in real-time, addressing significant issues faced by companies deploying AI. With features like customizable evaluation rules and advanced detection models, it aims to enhance AI safety and compliance amid growing regulatory scrutiny. The platform's pay-as-you-go pricing model increases accessibility for businesses of all sizes, positioning AI safety as a critical investment.
Super Micro's stock has plummeted 72% since its peak in March, following the resignation of its auditor, Ernst & Young, raising delisting risks from Nasdaq. The company, a key player in AI server solutions, faces scrutiny over financial reporting and potential accounting manipulation, with a deadline to regain compliance by mid-November. Despite significant revenue growth, Wall Street's confidence has waned, highlighting the volatility surrounding AI-related investments.
Samsung Electronics reported a disappointing operating profit of Won3.9tn ($2.8bn) in its chip division for Q3, significantly below analyst expectations and trailing behind SK Hynix's Won7tn profit. The company has struggled to capitalize on the AI boom and has not yet passed Nvidia’s qualification tests for advanced HBM chips, prompting concerns about its competitiveness and potential executive changes. Despite a recent share price recovery, analysts remain skeptical about Samsung's prospects in the high bandwidth memory market.
Stocks experienced a decline on Wednesday, with notable movements expected in the upcoming trading session. Apple reported a 5% increase over three months but fell nearly 4% in after-hours trading, while Microsoft and other tech stocks showed mixed performance. Ingersoll Rand and W.W. Grainger are set to report earnings, with Grainger being a standout performer in its sector.

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