Nvidia’s forecast dampens AI enthusiasm in chip stocks

Nvidia’s forecast dampens AI enthusiasm in chip stocks

ByFarhan Hameed Qaiser

Nvidia dragged AI-linked chip stocks lower on Thursday after its forecasts disappointed investors who had been hoping they would fuel fresh gains in the companies that have been some of Wall Street’s best performers this year. Nvidia dropped 4.5% in premarket trading and was on track to lose about $150 billion in stock market value after…

AMD to acquire server builder ZT Systems for $4.9 billion in cash and stock

AMD to acquire server builder ZT Systems for $4.9 billion in cash and stock

ByFarhan Hameed Qaiser

AMD (AMD.O), opens new tab said on Monday it plans to acquire server maker ZT Systems for $4.9 billion as the company seeks to expand its portfolio of artificial intelligence chips and hardware and battle Nvidia (NVDA.O) AMD plans to pay for 75% of the ZT Systems acquisition with cash and the remainder in stock. The company had…