As we wrap up another eventful week in the tech world, we’ve seen some major developments from industry giants. From Nvidia Corp.’s NVDA stock split announcement to Intel Corp.’s INTC AI-focused strategy, the week was buzzing with news. Here’s a quick recap of the top stories.
NVIDIA Announces Stock Split
In a move to make shares more accessible, NVIDIA announced a 10-for-1 stock split on Friday. The semiconductor giant revealed this decision during its recent quarterly earnings report. The split-adjusted trading will commence on Monday, June 10.’
Intel Steps Up AI Game
Intel has unveiled its new Lunar Lake chips with enhanced AI processors at the ongoing Computex technology trade show. These chips are aimed at Copilot+ AI PCs and data center chips, positioning Intel to compete with Advanced Micro Devices AMD. The Lunar Lake series is set to launch later this year.
Foxconn Predicts AI Server Sales Surge
Apple Inc. supplier Hon Hai Technology Group HNHPF, operating as Foxconn, is expecting a significant surge in AI server revenue in the next year. This prediction comes amid Nvidia CEO Jensen Huang’s forecast that data center spending will double to $2 trillion by 2029.
Nvidia CEO Mesmerizes at Computex
Nvidia’s Huang delivered a captivating keynote address at the Computex 2024 pre-event. He credited Nvidia’s partners and highlighted the company’s focus on computer graphics, simulations, and artificial intelligence.
Musk Explains Nvidia Chip Diversion
Tesla Inc. CEO Elon Musk responded to a report about him redirecting thousands of NVIDIA chips, initially reserved for Tesla, to X and xAI. Musk explained that Tesla had no facilities to activate the chips, and they would have otherwise sat idle in a warehouse.
Read Next: ‘It Is Time To Cancel Adobe’: New Photoshop Terms & Conditions Spark Outrage Among Professionals
Photo courtesy: Shutterstock
This story was generated using Benzinga Neuro and edited by Rounak Jain
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
