DoorDash is in the middle of a massive spending initiative as it builds out a new tech platform following a string of acquisitions.
Investors sold off semiconductor stocks Tuesday after Samsung Electronics' earnings, despite surpassing Nvidia and Apple, failed to meet high AI demand expectations. This led to significant drops in Samsung, SK Hynix, and US memory makers, with concerns growing over AI spending and memory prices.
Jim Cramer's CNBC Investing Club recap highlights a market downturn led by tech stocks, with a rotation towards healthcare and financials. Cramer advises buying strong companies hit hardest by the sell-off, noting positive movement in healthcare giants like J&J and Eli Lilly, and potential for Wells Fargo and Capital One in financials.
Jefferies advises investors to favor quality, low-momentum stocks to navigate market volatility driven by AI investment concerns. The firm identified companies with strong fundamentals and attractive valuations, including AbbVie and Netflix, as potential havens.
Amazon plans to raise at least $25 billion through an eight-part bond sale to fund its massive artificial intelligence infrastructure buildout, having informed underwriters it will not issue more debt this year. This follows earlier bond raises and aligns with other tech giants' AI spending.
Billionaire John Arnold and his wife Laura are awarding $2.6 million in grants to researchers studying the evolving risks of online sports betting and prediction markets in the U.S., urging lawmakers to address the increased access and intensity of the booming industry.
Rivian Automotive's stock fell over 10% in premarket trading Tuesday following the announcement of a public offering of 75 million shares. The company aims to raise approximately $1.51 billion to fund equity contributions for a loan agreement with the U.S. Department of Energy.
