A wild ride for chip stocks

Samsung’s preliminary earnings fell short of rising expectations, sending chipmakers’ shares down  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌

Here’s your wrap of the latest must-read tech news. For more expansive and analytical coverage from around the globe, get the Tech In Depth newsletter. Market Snapshot Alibaba Group Holding Ltd HK$106.70 +11% Micron Technology Inc $938.38 -4.7% Space Exploration Technologies Corp $149.47 -6.8% Market data as of 03:36 AM ET. Data is subject to provider delays. Your watchlist Top Stories Meta releases AI product: The parent of Instagram debuted an artificial intelligence video-generation model called Muse Image. The tool is a product of the company’s rebuilt AI lab. Microsoft’s AI swap: The software company said in-house AI models are replacing those of Anthropic and OpenAI in products like Excel and Outlook. Cost savings are behind the switch. Xbox’s failed strategy: The Microsoft unit bet on acquisitions for its streaming service for gamers. It didn’t pay off. Must Reads SpaceX’s Biggest Bull Sees Valuation Soaring Above $10 Trillion SpaceX has no shortage of fans on Wall Street, but one analyst stands out among the rest as by far the most bullish: Raymond James’ Brian Gesuale. Amazon’s New Bonds Get Cooler Reception as AI Debt Floods Market When Amazon.com Inc. sold its biggest ever bond earlier this year, it was inundated with investor orders amid hype about the artificial intelligence boom. This time around there’s less fanfare. Semiconductor Worker Shortfall Endangers US Chip Factory Revival A growing nationwide shortage of high-skilled workers threatens to delay construction of billions of dollars in new semiconductor plants across the US and constrain future chip production unless the industry pools resources and the government keeps up funding, according to a new report. Beyond The Brief Samsung reported preliminary earnings that show record profit and a doubling of revenue, but it wasn’t enough to satisfy investors, who are raising the bar for the industry in the AI era, Ian King reports in today’s Tech In Depth. The results sent shares of chipmakers down on Tuesday, another dip in the roller coaster ride the stocks have ridden this year, he writes. Get the Tech In Depth newsletter for analysis and scoops about the business of technology from Bloomberg’s journalists around the world. New From Bloomberg Get the AI Today newsletter, chronicling the disruptions and threats of AI on businesses, workers, finance and economies with analysis from Bloomberg’s global newsroom. Before You Go... USA-Belgium World Cup Match Draws Record 42 Million Viewers A total of 42 million viewers watched the men’s USA-Belgium World Cup match on US media outlets, setting records for the sport. Read more We’re improving your newsletter experience and we’d love your feedback. If something looks off, help us fine-tune your experience by reporting it here. Follow Us You received this message because you are subscribed to Bloomberg’s Tech In Brief newsletter. If a friend forwarded you this message, sign up here to get it in your inbox. Unsubscribe Bloomberg.com Contact Us Bloomberg L.P. 731 Lexington Avenue New York, NY 10022 |