AMD latest chipmaker to hit US$1 trillion valuation
US chip company AMD became the latest equity to reach a US$1 trillion valuation on Monday due to the massive investment boom over artificial intelligence. AMD shares closed 10 percent higher, extending a surge that has added some US$200 billion in valuation to the semiconductor company in a week. The California-based company, which has announced ventures with both OpenAI and Anthropic, notched a 50 percent jump in second-quarter revenues over the year-ago level to US$11.5 billion, thanks to a more than doubling of data centre revenue. In releasing results in early August, AMD said it expects data centre sales to accelerate in the second half of 2026. It becomes only the fourth US chipmaker to top a US$1 trillion valuation, after Nvidia, Broadcom and Micron. Nvidia crossed the mark in 2023 and is now the world's most valuable company, worth more than US$5 trillion. "Money is moving back into the AI trade," said Thomas Hayes, chairman at Great Hill Capital LLC in New York. Enthusiasm for chipmakers cooled in recent months as markets scrutinised AI spending by hyperscalers. Higher oil prices linked to the US-Iran conflict and expectations of higher-for-longer interest rates added to the pressure. But now investors believe AI is the only area that can...
Read full articleMORE NEWS
Paramount Settles States’ Lawsuit, Clearing Way for Warner Bros. Merger
By resolving a lawsuit filed by a group of states, the media mogul David Ellison removed the last major hurdle he faced in buying Warner Bros. Discovery.
CNN’s Future Will Include an Editorial Oversight Board
The looming ownership of the network by David Ellison has caused anxiety in its newsroom for months.
28 Travel Products That’ll Help You Have The Least Hectic Trip Possible
You deserve for your vacation to actually be a vacation. View Entire Post ›
Paramount settles lawsuit with US states, clearing way for $110bn merger with Warner Bros
The deal includes an agreement to produce 30 films a year, or Paramount will be forced to sell off parts of its company.
Networks Suspend Pool Coverage of Trump After White House Bars CNN
The move was an escalation of President Trump’s showdown with the White House press corps after he moved to bar journalists from CNN, MS NOW and Politico.
What Is the White House Press Pool, and Why Did It Suspend TV Coverage of Trump?
By barring CNN, the White House has thrown a staple of TV news coverage into disarray.
American Airlines and July Launch Limited-Edition Centennial Luggage
American is extending its centennial celebrations into the baggage carousel with July, turning Astrojet and Silverbird design cues into limited-edition carry-ons and checked luggage with built-in tracking technology. The post American Airlines and July Launch Limited-Edition Centennial Luggage appeared first on Business Traveller.
I Fly Economy On A Monthly Basis — Here Are My 11 Favorite Products To Minimize Suffering
There's no need to rough it in the back of the plane. View Entire Post ›
Airlines criticise air traffic control as second glitch causes more disruption
Prime Minister Andy Burnham said further issues "cause even greater concern" about the UK's air traffic control and the head of the organisation that runs it.
Wall Street Is Growing Skeptical of the Data Center Boom
Several companies tied to the data center industry have delayed their initial public offerings amid the increasing public backlash to these energy guzzling facilities.
CNN, MS NOW and Politico to Sue Trump Administration Over White House Access
In a joint statement, CNN, MS NOW and Politico argued that President Trump’s decision to bar them from the White House grounds violates their First Amendment rights.
21 Of The Weirdest World Facts That'll Stick In Your Brain For Literal Years To Come
Our planet is truly one remarkable place to call home. View Entire Post ›