Nvidia will deliver its earnings report for the fourth quarter of 2024 Wednesday evening, which investors will be watching closely for any signs of slowing demand for semiconductor chips. The chipmaker’s financials will face scrutiny over possible signals of an end to the AI-fueled market boom that has propelled the company to a stratospheric valuation of $3.1tn.Analysts expect Nvidia to maintain its leadership position as the maker of the AI industry’s favorite chips, but recent news has presented new pote ...

Core Points - Apple announced a plan to invest $500 billion in the US over the next four years, which includes building a large factory in Texas for AI servers and creating approximately 20,000 R&D jobs nationwide [1][4] - The investment will cover a range of activities, including purchases from US suppliers and the production of content for Apple TV+ [2] - This announcement follows a meeting between Apple CEO Tim Cook and President Donald Trump, amid concerns over potential tariffs on products assembled in China [3][4] Investment Details - The $500 billion investment includes various expenditures, but Apple did not specify how much was already planned for US suppliers [2] - Apple previously announced a $350 billion investment plan in 2018, indicating a consistent commitment to US economic contributions [4] Manufacturing and Production - Apple will collaborate with Foxconn to establish a 250,000-square-foot facility in Houston for assembling servers used in data centers for Apple Intelligence [7] - The company plans to increase its Advanced Manufacturing Fund from $5 billion to $10 billion, with a focus on producing advanced silicon at TSMC's Arizona factory [8] - Apple is also set to open a manufacturing academy in Michigan to provide free courses for local manufacturing firms [9]

Group 1 - The US Department of Justice is investigating UnitedHealthcare for potential illegal practices related to Medicare billing, specifically whether the company is using patient diagnoses to inflate payments from the Medicare Advantage program [1][3][6] - UnitedHealthcare is a major player in the insurance industry with a market capitalization of $457 billion and is involved in various sectors including health technology and pharmacy benefits, employing over 90,000 physicians in the US [2][3] - Medicare Advantage plans, which cover about half of the 65 million Medicare beneficiaries, are under scrutiny for potentially costing taxpayers significantly more than traditional Medicare, with estimates suggesting an additional $83 billion in 2024 alone [4][5] Group 2 - The investigation is being conducted by the Department of Justice's civil fraud division and the Department of Health and Human Services, separate from an ongoing antitrust inquiry [6] - UnitedHealthcare has faced criticism for other issues, including a significant data breach in 2024 affecting 85 million patient records, which has been likened to a major disaster in the healthcare sector [7] - The company's stock fell by 10% following the news of the investigation, indicating market concern over the potential implications of these allegations [9]

Walmart on Thursday forecast sales and profit for its latest fiscal year below Wall Street estimates, suggesting the world’s largest retailer expects inflation-weary consumers to pull back after several quarters of solid growth.Walmart shares, which had risen about 72% in 2024 and hit a record high of $105 last week, were down 6% in early trading. Shares of its rival retailer Target were down 1.6%, with Amazon 0.9% lower.The news dragged down stock markets with all the major US indices falling in morning tr ...

Quantum computers could be built within years rather than decades, according to Microsoft, which has unveiled a breakthrough that it said could pave the way for faster development.The tech firm has developed a chip which, it says, echoes the invention of the semiconductors that made today’s smartphones, computers and electronics possible by miniaturisation and increased processing power.The chip is powered by the world’s first topoconductor, which can create a new state of matter that is not a solid, liquid ...

Meta has announced plans to build the world’s longest underwater cable project, which aims to connect the US, India, South Africa, Brazil and other regions.The tech company said Project Waterworth involves a 50,000km (31,000 mile) sub-sea cable, which is longer than the Earth’s circumference.The cable would be the longest to date that uses a 24 fibre-pair system, giving it a higher capacity, and would help support its AI projects, according to Meta, which owns Facebook, Instagram and WhatsApp.Meta said in a ...

Core Viewpoint - Protests against Tesla highlight the potential risks associated with Elon Musk's close ties to the Trump administration, which may impact the company's sales, particularly in liberal markets [2][4][8]. Group 1: Protests and Public Sentiment - Demonstrators gathered outside Tesla dealerships across various US cities, with groups of up to 100 participants, in response to Musk's government spending cuts [1]. - Protesters carried placards comparing the Trump administration to Nazis, a characterization Musk has denied [2]. - American musician Sheryl Crow publicly sold her Tesla and donated the proceeds to NPR, criticizing Musk's political affiliations [5][6]. Group 2: Financial Implications - Some Tesla investors are concerned that Musk's political associations, including over $200 million spent on the presidential campaign, could negatively affect sales in liberal areas like California [4]. - Tesla's shares constitute about one-third of Musk's wealth, with significant financial ties to his other ventures, including SpaceX [7]. Group 3: Sales Performance - Tesla reported its first annual decline in sales in 2024, although the impact of Musk's political stance on this decline remains uncertain [8]. - A notable 60% year-on-year drop in Tesla sales in Germany has been linked to Musk's support for the far-right AfD party [9]. Group 4: Political Backlash - Tesla may face political repercussions in the UK, where calls have been made for tariffs on Tesla cars in response to US steel import levies [10].

Amazon outdid Wall Street’s expectations with its earnings from the fourth quarter of 2024 on Thursday but forecast a weak upcoming quarter.The retail giant ended the year on a strong note, reporting $187.79bn in revenue and $1.86 per share, beating analysts’ estimates of revenue of $187.3bn and share price at $1.49.The robust earnings take into account the strong holiday shopping season, which showed a 8.7% year-over-year surge of online spending in November and December, according to Adobe Analytics. In a ...

The Google owner, Alphabet, has dropped its pledge not to use artificial intelligence for purposes such as developing weapons and surveillance tools.The US technology company said on Tuesday, just before it reported lower than forecast earnings, that it had updated its ethical guidelines around AI, and they no longer refer to not pursuing technologies that could “cause or are likely to cause overall harm”.Google’s AI head, Demis Hassabis, said the guidelines were being overhauled in a changing world and tha ...

Shares of Google’s parent company Alphabet fell more than 6% after the company reported a slight miss in expected revenue on Tuesday. The company reported $96.5bn, compared with analyst expectations of $96.67 bn. The company surpassed investors’ expectations of $2.13 in earnings per share, however, with $2.15 in EPS.“Q4 was a strong quarter driven by our leadership in AI and momentum across the business,” Alphabet chief executive Sundar Pichai wrote in a statement. “We are building, testing, and launching p ...