HP announced plans to cut up to 10% of its workforce as part of a restructuring aimed at advancing its AI initiatives.
Morgan Stanley and Goldman Sachs are set to wrap up big bank earnings reports amid tech stock gains from TSMC's strong AI-driven outlook.[4]
U.S. stock indexes fell on Wednesday, with the S&P 500 down 1%, following mixed profit reports from several major banks.
Nvidia reported record quarterly earnings, driven by strong demand for AI chips, with revenue up 45% year-over-year.
Microsoft's stock hit a new all-time high following the successful launch of its latest AI-powered cloud services.
JP Morgan Chase is set to replace Goldman Sachs as the new issuer of the Apple Card, a move that could impact Apple's financial partnerships and market positioning.
EU Digital Networks Act updates reportedly exclude major U.S. tech firms from the strictest regulations, easing potential market impacts for Big Tech companies.
China reportedly plans to approve some imports of Nvidia's H200 chips this quarter, following a recent pause, which could impact Nvidia's sales and the broader tech market.
US equity futures edged lower, led by technology stocks, amid ongoing concerns about chip supply and AI regulation.
Google has wrapped up its best year on Wall Street since 2009, outperforming megacap peers as its AI-focused strategy strengthens its market position[3].
Markets have found support from tech sector this week, marking a shift from the first half of December when that sector was largely missing in action.[2]