Author: Multibagger News

SoftBank in Talks to Secure Nvidia GPUs for AI Development – Will This Move Position Them as AI Technology Leader? Japanese technology-focused investor SoftBank is in discussions to secure a large volume of Nvidia’s GPUs critical for AI development. CEO Masayoshi Son’s plan to position SoftBank as an AI leader involves borrowing up to $10 billion for energy projects driven by AI demand. SoftBank, known for backing companies like Tencent and T Mobile, may create a special-purpose company to purchase GPUs with borrowed funds. This move highlights SoftBank’s intent to increase its exposure to AI infrastructure and the growing importance…

By Parisa Hafezi As the world’s best investment manager, financial market journalist, and SEO mastermind, I bring you the latest updates on the upcoming run-off presidential election in Iran. Iranians will cast their votes on Friday amidst heightened regional tensions and voter apathy. The run-off election follows a historic low turnout in the previous ballot on June 28, where over 60% of voters abstained. This has been seen as a clear vote of no confidence in the current regime. The two contenders in the run-off are moderate lawmaker Masoud Pezeshkian and hardline former nuclear negotiator Saeed Jalili. While the outcome…

Investing.com – Ethereum took a nosedive, trading at $2,898.17 by 23:12 (03:12 GMT) on the Investing.com Index on Friday, marking a significant 10.25% drop in value. This is the largest one-day percentage loss since November 9, 2022. The downward trend caused Ethereum’s market cap to plummet to $360.89B, now representing 17.62% of the total cryptocurrency market cap, a steep fall from its peak of $569.58B. Within the previous twenty-four hours, Ethereum fluctuated between $2,896.05 and $3,108.66. Over the past week, Ethereum has experienced a 12.95% decrease in value, with a trading volume of $20.66B, accounting for 21.95% of the total…

Asian Stocks Mixed as Chinese Shares Slide Further on Taiwan Tensions, Samsung Boosts South Korean Markets Investing.com– Asian stocks saw a mixed performance on Friday, with Chinese shares facing a decline due to increased tensions with Taiwan. Meanwhile, South Korean markets outperformed thanks to gains in Samsung. Key U.S. data awaited by broader markets led to a mostly rangebound trading session. The absence of U.S. market activity on Thursday limited trading cues, while some cooling sentiment over interest rate cuts also contributed to market caution. U.S. stock index futures remained stable during Asian trade. Chinese stocks were the day’s worst…

Asian Stock Market Update: China Slumps Amid Taiwan Tensions, Samsung Boosts South Korea Table of Contents: Overview of Asian Markets Chinese Stocks Plummet on Taiwan Tensions South Korean Stocks Surge with Samsung’s Q2 Gains Japanese Markets Test Record Highs Other Asian Markets Conclusion Overview of Asian Markets Asian stocks presented a mixed picture on Friday, with Chinese shares sliding further due to increased tensions with Taiwan. In contrast, South Korean markets outperformed, driven by gains in Samsung Electronics. Broader markets remained rangebound, awaiting crucial U.S. data later in the day. A U.S. market holiday on Thursday resulted in limited trading…

Oil prices remained steady in Asian trade, poised for a fourth consecutive week of gains as they hover near their highest levels since late April. The market is driven by expectations of robust summer fuel demand and some supply worries. Crude oil futures, which have surged 7% over the past four weeks, were down 2 cents to $87.41 a barrel, while U.S. West Texas Intermediate (WTI) crude futures, up 9% over the same period, edged up to $83.97, gaining 9 cents from Wednesday’s close. With the U.S. market closed for the Fourth of July holiday, trading was thin, and there…

Samsung’s Q2 Profit Skyrockets to $7.5 Billion Driven by AI Demand for Memory Chips SEO Optimized Title: Samsung Electronics Q2 Profit Surges to $7.5 Billion Amid AI-Driven Memory Chip Demand In a remarkable financial leap, Samsung Electronics Co Ltd (KS:) has reported a staggering increase in its second-quarter profits, propelled by a surging demand for memory chips and electronic devices fueled by advancements in artificial intelligence. Impressive Financial Performance On Friday, Samsung disclosed that its operating profit for the quarter ending June 30 skyrocketed to 10.4 trillion won ($7.50 billion), a dramatic climb from the 670 billion won recorded in…

China Urges EU to Show Sincerity in Talks Before Imposing Tariffs on Chinese Electric Vehicles, Global Times Reports China is calling on the European Union to advance consultations on resolving a tariff spat over Chinese-manufactured electric vehicles (EVs) before the EU’s provisional tariffs take effect on Friday. The Global Times has emphasized the importance of sincere technical talks to avoid escalating trade tensions. During the trade war initiated by the U.S. administration in 2018, China quickly responded to tariff increases with its own measures. However, Beijing is now urging Brussels to intensify discussions rather than retaliate immediately. Commerce ministry spokesperson…

By Tom Westbrook SINGAPORE (Multibagger) – Asian share markets scaled new highs on Friday as investors anticipated potential U.S. rate cuts in September, fostering an upbeat mood. Meanwhile, the euro surged to a three-week peak ahead of the upcoming French elections. Sterling held firm at $1.2767, buoyed by projections of a landslide victory for Britain’s Labour Party, ending 14 years of Conservative rule. The dollar slightly weakened, and Treasury yields edged higher in Tokyo as trading resumed post-U.S. Independence Day holiday. Major indices nudged up to record levels, notably Taiwan’s benchmark. MSCI’s broadest index of Asia-Pacific shares outside Japan rose…

Cyber Breach at OpenAI: What Investors Need to Know and How It Could Impact Your Finances In a significant incident that has recently come to light, a hacker infiltrated OpenAI’s internal messaging systems last year, stealing crucial details about the company’s cutting-edge artificial intelligence technologies, as reported by the New York Times. This breach, although not penetrating the core systems where OpenAI, known for ChatGPT, houses its AI models, has raised multiple questions and concerns among investors and tech enthusiasts alike. Key Highlights: Intrusion Details: The hacker accessed an online forum used by OpenAI employees to discuss the latest AI…