:Marvell Technology Inc on Thursday forecast its artificial intelligence (AI) revenue would double for the year, becoming the second U.S. chip company in as many days to bet on the breakthrough technology.Shares of Marvell rose 17.2 per cent to $57.96 in extended trading as the chipmaker also surpassed Wall S
:Marvell Technology Inc on Thursday forecast its artificial intelligence revenue would double for the year, becoming the second U.S. chip company in as many days to bet on the breakthrough technology.
"Generative AI is rapidly driving new applications and changing investment priorities for cloud customers," Marvell CEO Matt Murphy said in a post-earnings conference call. That has in turn boosted demand for the chips that power AI technology, benefiting companies such as Marvell.
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Chipmaker Marvell Technology beats revenue estimates on AI boom:Marvell Technology Inc on Thursday forecast its artificial intelligence (AI) revenue would double for the year, after the chipmaker surpassed Wall Street targets for first-quarter revenue.Its shares rose 13.5 per cent to $56.15 in extended trading, as Marvell became the second U.S. chipmaker in as many days
Read more »
Meta sells Giphy to Shutterstock to comply with UK regulator orderShutterstock Inc said on Tuesday (May 23) it would buy animated-images platform Giphy Inc from Meta Platforms Inc for $53 million (S$71 million) in cash, months after the Facebook owner had agreed to divest the company on competition concerns. Britain's competition regulator last year ordered Meta to sell Giphy over fears that it could deny or limit competitors such as...
Read more »
Tesla, Ford CEOs to talk EVs in Twitter forum:Tesla Inc CEO Elon Musk and Ford Motor Co CEO Jim Farley on Thursday will discuss efforts on 'accelerating EV adoption in North America' during an online Twitter conversation, Ford said.The Twitter Spaces conversation will take place at 5:30 p.m. EDT (2130 GMT). Musk also owns Twitter.The event comes
Read more »
Autodesk's quarterly revenue rises 8% on higher customer signupsDesign software maker Autodesk Inc posted an 8 per cent increase in first-quarter revenue on Thursday as customer signups rose.The company, whose AutoCAD software is used by construction, engineering and manufacturing companies, said its subscription plan sales surged 10 per cent during the quarter.
Read more »
Brazil's PagSeguro posts $74 million quarterly profit, beats forecastSAO PAULO : Brazilian financial technology firm PagSeguro Digital on Thursday posted a better-than-expected 6 per cent increase in its first-quarter profit, which the company said was boosted by payment processing revenue.The New York listed-firm posted net profits of 370 million reais ($73.95 million), w
Read more »
South Korea cancels third launch of homegrown rocket due to technical problemsSEOUL - South Korea cancelled the third flight of its homegrown space rocket on Wednesday (May 24) because of technical problems hours before a launch that was meant to mark a significant step in its burgeoning space programme. South Korea is aspiring to be a key player in space technology, competing with its Asian neighbours. The technical glitches are most...
Read more »