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Executives of both AMD and Super Micro Computer said supply constraints were hampering their efforts to capitalize on demand for equipment powering the boom in generative AI
The tech-heavy Nasdaq and the benchmark S&P 500 slipped on Wednesday as chip stocks led losses on downbeat results and markets weighed fresh economic data ahead of the Federal Reserve's interest rate...
Advanced Micro Devices and Super Micro Computer led a selloff in chip stocks on Wednesday after their earnings disappointed investors, who had piled into the sector on hopes rising AI investments would boost demand. AMD was down 5.4% and is on course to lose more than $13 billion in market value. Its forecast of $4 billion in AI chip sales for 2024 fell short of Wall Street's lofty expectations, having been used to Nvidia's massive forecasts over the past year.
* Visa rises after Q2 results beat *...
Shares of New York Community Bancorp lost 22% on Tuesday, extending a sell-off since the lender reported a surprise quarterly loss last week, as Moody's downgraded its long-term debt ratings to junk status