Mike Wheatley
Latest from Mike Wheatley
Shares of Qualcomm and Arm slide following latest earnings reports
Two of the world’s top chip design companies were down in the dumps today, as shares of both Qualcomm Inc. and Arm Holdings Plc plummeted in late trading today amid concerns about memory supply constraints. Qualcomm’s stock fell more than 9%, while shares of Arm lost almost 8% of their value in extended trading, after ...
Alphabet to jack up AI spending as Google Cloud and ad business revenues shine
Google LLC’s parent company Alphabet Inc. beat expectations as it delivered its fourth-quarter financial results today, but its stock was trading lower after it revealed plans for a dramatic increase in its investments in artificial intelligence data centers over the next year. The company reported earnings before certain costs such as stock compensation of $2.82 ...
GenLogs secures $60M to keep tabs on trucking industry with AI and roadside sensors
Trucking intelligence startup GenLogs Corp. says it’s going to inject artificial intelligence smarts into the freight industry after raising $60 million in a new round of funding today. The Series B round was led by Battery Ventures and saw participation from the likes of IVP, Cathay Innovation, 9Yards, Venrock, Steel Atlas, HOF Capital, TitletownTech and ...
Supermicro knocks it out of the park, as AI server sales drive 120% revenue increase
Super Micro Computer Inc.’s stock gained ground in late trading today after it delivered stellar second-quarter financial results and issued a forecast that indicates massive demand for its artificial intelligence data center server hardware. The company reported adjusted earnings per share of 69 cents, easily beating the 49-cent-per-share consensus estimate. Revenue for the period jumped ...
AMD beats expectations but guidance fails to excite investors and stock falls
Advanced Micro Devices Inc. easily beat Wall Street’s expectations in its latest financial results, but although it offered a bullish forecast for the current quarter, it still disappointed some analysts who were expecting the chipmaker to show even stronger momentum. The company reported fourth-quarter earnings before certain costs such as stock compensation of $1.53 per ...
Tomorrow.io raises $175M to deploy its AI-native weather satellite constellation
Elon Musk might have another competitor on his hands following the news that the satellite constellation company Tomorrow.io Inc. has just closed on a bumper $175 million in funding. The money was provided by Stonecourt Capital and HarbourVest, and the company said today it will use it to accelerate the deployment of DeepSky, which aims ...
Raising $6.1M in seed funding, Airrived says agentic AI’s breakthrough moment has arrived
Agentic artificial intelligence startup Airrived has arrived on the scene to help enterprises transform AI agents into the “foundational infrastructure” of their business operations after raising $6.1 million in seed funding. Today’s round was led by Cannage Capital and saw participation from Plug and Play Ventures, Rebellion Ventures, Inner Loop Capital and angel investors such ...
NXP beats expectations and its forecast is bullish, but investors shrug
NXP Semiconductors N.V. delivered fourth-quarter results that surpassed expectations and offered strong guidance for the current quarter, but investors were nonplussed and its stock fell in extended trading. The Dutch chipmaker reported earnings before certain costs such as stock compensation of $3.35 per share, surpassing Wall Street’s target of $3.31. Revenue for the period rose ...
Elon Musk confirms SpaceX has acquired xAI to accelerate his space-based data center plans
Elon Musk’s rocket company SpaceX Corp. today said it has acquired his artificial intelligence startup xAI Corp. ahead of what will likely be one of the largest initial public offerings in history later this year. The technology entrepreneur announced the deal in a blog post on SpaceX’s website, where he explained that he’s trying to build ...
Oracle unveils $50B fundraising plan to fuel AI data center ambitions
Oracle Corp. has given investors another reason to be nervous after revealing a plan today to raise between $45 billion and $50 billion this year, in order to fund the buildout of more data center capacity for artificial intelligence workloads. The cloud infrastructure and database giant said it will raise the money via a combination ...