Almost four years into the artificial intelligence boom, the world’s biggest tech companies are still making grand promises about the future. The problem is, they’re burning through their cash in the process. AI spending among the megacaps is projected to reach $765 billion this year, before rising to nearly $1.2 trillion in 2027, according to…
Leopold Aschenbrenner Photo: Josh Edelson Two years ago, Leopold Aschenbrenner argued he was one of few people in the world who saw the future clearly. In a sprawling, 165-page essay that became required reading in Silicon Valley, the former OpenAI researcher positioned himself as a kind of prophet for the coming age of artificial super…
CXMT‘s blockbuster Shanghai debut has put it in the spotlight, but analysts say closing the technology gap in advanced memory chips, not investor enthusiasm, will determine whether it can challenge the global market leaders. The Chinese memory maker’s nearly 466% surge in its Monday market debut has fueled optimism that Beijing’s years-long push to build…
Omar Marques | Lightrocket | Getty Images South Korea’s chip heavyweights SK Hynix and Samsung Electronics skyrocketed in Seoul on Friday, tracking a sharp rally in U.S. technology stocks after blockbuster earnings from Amazon and Microsoft revived optimism around artificial intelligence spending. SK Hynix was last trading over 25% higher, putting it on course for…
The battered $24 billion hedge fund founded by former OpenAI researcher Leopold Aschenbrenner is unwinding many of its trades after big losses on artificial intelligence stocks and a bad bet against software stocks left it scrambling to raise cash, according to people familiar with the matter. The prime brokers for the fund, Situational Awareness, have…
The logo of Samsung is seen at the Samsung Electronics Seocho building in Seoul on July 7, 2026. South Korean technology giant Samsung Electronics forecast on July 7 a roughly 19-fold jump in second-quarter operating profit from a year earlier, buoyed by sustained AI-driven demand for memory chips. (Photo by Jade GAO / AFP via…
Qualcomm CEO Cristiano Amon delivers a keynote speech at Computex in Taipei, Taiwan June 1, 2026. Ann Wang | Reuters Qualcomm reported fiscal third-quarter earnings on Wednesday that were in line with analyst expectations, but it provided light guidance for current-quarter earnings on in-line revenue, blaming the ongoing supply crunch for computer parts, especially memory….
Every weekday, the CNBC Investing Club with Jim Cramer releases the Homestretch — an actionable afternoon update, just in time for the last hour of trading on Wall Street. The Federal Reserve left interest rates unchanged on Wednesday afternoon after the conclusion of its July meeting . Unlike recent meetings when markets had a strong…
A semiconductor wafer is on display at Touch Taiwan, an annual display exhibition in Taipei, Taiwan April 16, 2025. Ann Wang | Reuters Asian technology stocks extended their sell-off on Wednesday, with semiconductor names leading declines after another weak session in the U.S. In South Korea, SK Hynix slid more than 10% after the chip…
The logo of SK hynix is displayed on a glass wall during the 2026 World IT Show in Seoul on April 22, 2026. Jung Yeon-je | Afp | Getty Images SK Hynix on Wednesday posted another record quarterly profit, but missed analysts’ estimates. Here are SK Hynix’s second-quarter results compared with LSEG SmartEstimates, which are…
