Option chain shows key data for AUSGOLD LTD PERTH by AUSGOLD LTD.'s stock options at various strike prices and expiration dates. Traders use this information to analyze potential trades and assess market sentiment for AUSGOLD LTD PERTH by AUSGOLD LTD..

AUSGOLD LTD PERTH by AUSGOLD LTD. (OTC:AUSGF) Stock, Option Chain

AUSGOLD LTD PERTH by AUSGOLD LTD.

Citigroup analyst Keith Horowitz maintains PNC Finl Servs Gr (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PNC#NYSE">PNC</a>) with a Buy and raises the price target from $200 to $235.

News

Price Target

Analyst Ratings

Citigroup Maintains Buy on PNC Finl Servs Gr, Raises Price Target to $235

Israel and Lebanon have agreed on the framework for a cease-fire deal to end over a year of violent conflict between Israel and Hezbollah, a senior U.S. official told Axios on Monday.
While the agreement awaits formal approval from Israel's Security Cabinet on Tuesday, global financial markets are already reacting, with gold and oil prices tumbling as geopolitical risks recede and risky assets soar<a href="https://www.benzinga.com/topic/israel"> amid improving investor optimism. </a>
Both the Dow Jones Index and the S&amp;P 500 indices hit fresh record highs minutes following Monday&#8217;s market open in New York. 
<h3 class="wp-block-heading">Israel-Lebanon Deal: What It Includes</h3>
The cease-fire, if approved, would mark the end of a bloody chapter that has claimed the lives of over 3,500 Lebanese and 140 Israelis while displacing hundreds of thousands of people on both sides of the border. 
Under the proposed agreement, Israel would initiate a 60-day withdrawal of its military from southern Lebanon, the <a href="https://www.axios.com/2024/11/25/israel-lebanon-near-hezbollah-ceasefire-deal">Axios report said</a>. 
Simultaneously, the Lebanese army would deploy along border areas, and Hezbollah would relocate its heavy weaponry north of the Litani River.
To ensure compliance, a U.S.-led oversight committee would monitor the agreement, while the U.S. has pledged to support Israeli military action against imminent threats if Lebanese forces fail to act.
A senior U.S. official told Axios: "We think we have a deal. We are on the goal line, but we haven't passed it yet."
<h3 class="wp-block-heading">Oil, Gold Take A Blow</h3>
The news sent shockwaves through the commodities market. 
With the threat of broader regional conflict subsiding, West Texas Intermediate (WTI) crude oil – as tracked by the United States Oil Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/USO#NYSE">USO</a>) – fell 1.5% on Monday to $70 per barrel, almost fully paring back Friday&#8217;s gains. 
Gold, tracked by the SPDR Gold Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GLD#NYSE">GLD</a>) plunged over 3% to $2,640 an ounce as investors scaled back safe-haven bets. Silver followed suit, dropping 3% to $30.40 an ounce. 
The U.S. dollar also softened, losing 0.7% against a basket of major currencies, reflecting the shift in risk sentiment.
<h3 class="wp-block-heading">Stock Market Soars To New Heights</h3>
The cease-fire optimism spilled into equities. The S&amp;P 500 index – tracked by the SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) –reached an all-time high of 6,020 points, gaining 0.8% on the day, while the Dow Jones Industrial Average – mimicked by the SPDR Dow Jones Industrial Average ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>) – climbed 1% to a record-breaking 44,738.
Notably, all major S&amp;P sectors except energy posted gains, with the broader index aiming for its sixth straight session of gains.
Israeli stocks – tracked by the VanEck Israel ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ISRA#NYSE">ISRA</a>) – soared 1.9%, also eyeing a six-day winning streak.
S&amp;P 500&#8217;s top gainers during morning trading in New York included: 
<ul>
<li>Bath &amp; Body Works (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BBWI#NYSE">BBWI</a>)</li>
<li>Super Micro Computer Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMCI#NASDAQ">SMCI</a>)</li>
<li>Wolfspeed, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WOLF#NYSE">WOLF</a>)</li>
<li>Clarivate Plc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CLVT#NYSE">CLVT</a>)</li>
<li>Astera Labs, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ALAB#NASDAQ">ALAB</a>)</li>
</ul>
Read Next:
<ul>
<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/11/42165391/vanguards-sp-500-etf-hits-100-billion-inflows-in-2024-is-spys-crown-at-risk">Vanguard&#8217;s S&amp;P 500 ETF Hits $100 Billion Inflows In 2024: Is SPY&#8217;s Crown At Risk?</a></li>
</ul>
Photo via Shutterstock.

Equities

Broad U.S. Equity ETFs

Emerging Markets

Specialty ETFs

Emerging Market ETFs

Commodities

Politics

Global

Econ #s

Markets

Movers

ETFs

ALAB

BBWI

CLVT

SPDR Dow Jones Industrial Average ETF Trust

ISRA

SMCI

WOLF

Israel, Lebanon Reach Reported Cease-Fire Deal: Gold, Oil Tumble; S&P 500, Dow Jointly Hit Record Highs

Unsealed court documents highlight how <a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41555467/federal-probe-into-tether-examines-potential-sanctions-and-money-laundering-breaches-wsj">drug cartels from Mexico and Colombia </a>are leveraging cryptocurrency, particularly Tether (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">USDT</a>) and Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>), to launder tens of millions of dollars.
What Happened: The documents shed light on how criminal organizations, including the Sinaloa cartel, have turned to stablecoins and blockchain technology to move wealth across borders, according to a <a href="https://www.404media.co/tether-has-become-a-massive-money-laundering-tool-for-mexican-drug-traffickers-feds-say/">report</a> from 404 Media.
Benzinga has reached out to Tether CEO Paolo Ardoino for comments.
One confidential source disclosed to investigators that cartels purchase USDT in Mexico at below-market rates, given its association with drug proceeds. 
"The current trend was to purchase USDT from Mexico-based groups at a cheaper rate than the market price and then sell the USDT in Colombia," the source said. 
These transactions reportedly take place through currency exchanges, peer-to-peer networks and over-the-counter (OTC) trades.
The court filings <a href="https://www.documentcloud.org/documents/25379143-tether-document-1?ref=404media.co">revealed</a> substantial cryptocurrency activity linked to these cartels.
A Binance account under investigation processed over $15 million between May 2020 and September 2023, with 452 deposits and 567 withdrawals. 
Transactions often involved transferring funds across blockchain networks and converting them into other cryptocurrencies like Ethereum to obfuscate the origin of the funds.
The documents also connect Grupo Gueratti, an investment management firm based in Guadalajara, Mexico, and its alleged associate L.E.O.T., to money laundering activities. 
Investigators used undercover operatives to pick up cash in the U.S., convert it into cryptocurrency, and transfer it to wallets linked to L.E.O.T. 
Also Read: <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42160774/microstrategy-is-the-bitcoin-magnet-says-bernstein-but-not-everybodys-sold-nothing-is-free-in-finance-says-one-analyst">MicroStrategy Is The &#8216;Bitcoin Magnet,&#8217; Says Bernstein, But Not Everybody&#8217;s Sold: &#8216;Nothing Is Free In Finance,&#8217; Says One Analyst</a>
By April 2024, undercover operations had facilitated more than 20 money-laundering transactions involving USDT.
Binance told 404 Media that it works closely with law enforcement to combat criminal activities. 
"We work tirelessly alongside law enforcement to help combat crime&#8230; When we receive law enforcement requests for information or to freeze funds, we take action quickly," the company said. 
Binance also emphasized that blockchain technology provides transparency that aids anti-money laundering efforts.
Tether echoed similar sentiments, highlighting its collaboration with law enforcement to track illicit activity. 
"Every transaction is traceable, every asset can be seized, and every criminal can be caught," Tether's spokesperson said. 
The company claimed to have blocked over $2 billion in USDT linked to criminal activities and assisted law enforcement in 195 cases across 48 countries.
The documents also reveal that drug cartels have been using Bitcoin alongside Tether to facilitate transactions. 
The FBI <a href="https://www.documentcloud.org/documents/25379142-tether-document-2?ref=404media.co">investigated</a> another money-laundering organization tied to the Sinaloa cartel, which laundered over $52 million in drug proceeds between 2021 and 2023. 
Additionally, Chinese manufacturers of synthetic opioids have reportedly used Bitcoin for payments, enabling drug traffickers to transfer large sums instantly across the globe.
Why It Matters: The investigation comes as Tether's <a href="https://www.benzinga.com/24/11/42157756/firm-led-by-trumps-commerce-secretary-pick-howard-lutnick-reportedly-in-talks-for-a-multi-billion-dollar-bitcoin-lending-project-with-tether">connections to Wall Street deepen</a>.
Cantor Fitzgerald, led by Howard Lutnick, has been a key custodian of Tether's reserves. 
Lutnick is reportedly planning a multi-billion-dollar program involving Tether, offering dollar loans to clients who pledge Bitcoin as collateral. 
While Lutnick has praised Tether's financial transparency, the company has faced allegations of aiding illegal activities, including money laundering—a claim its CEO, Paolo Ardoino, has denied.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42145634/cboe-to-launch-cash-settled-bitcoin-index-options">Cboe To Launch Cash-Settled Bitcoin Index Options</a></li>
</ul>
Image: Shutterstock

Coverage of Bitcoin, Etherum, Ripple and all the latest digital currencies.

Cryptocurrency

$BTC

$USDT

Drug Cartels Use Tether And Bitcoin To Launder Millions, Court Documents Reveal

Citigroup analyst Keith Horowitz maintains Morgan Stanley (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MS#NYSE">MS</a>) with a Neutral and raises the price target from $105 to $135.

Citigroup Maintains Neutral on Morgan Stanley, Raises Price Target to $135

JMP Securities analyst Joe Goodwin maintains Guidewire Software (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GWRE#NYSE">GWRE</a>) with a Market Outperform and raises the price target from $200 to $231.

GWRE

JMP Securities Maintains Market Outperform on Guidewire Software, Raises Price Target to $231

Trading Ideas

QMCO

Quantum Corp Shares Halted On Circuit Breaker To The Upside, Stock Now Up 186.9%

Citigroup analyst Keith Horowitz maintains Truist Finl (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TFC#NYSE">TFC</a>) with a Neutral and raises the price target from $47 to $51.

Citigroup Maintains Neutral on Truist Finl, Raises Price Target to $51

Quantum Corp Shares Resume Trading

The tech job market is in a tough spot right now. People like Jon Bach, a former director at eBay, are feeling the squeeze. Bach worked at eBay for 13 years, but after getting laid off in January, his job search hasn't gone as planned.
Don't Miss:
<ul>
<li>The average American couple has saved this much money for retirement —<a href="http://www.benzinga.com/money/smartasset"> How do you compare</a>?</li>
<li>Can you guess how many Americans successfully retire with $1,000,000 saved?<a href="https://www.benzinga.com/money/1milsaved"> The percentage may shock you</a>.</li>
</ul>
&#8220;I don&#8217;t know what&#8217;s going on,&#8221; Bach said to Business Insider in a recent interview. &#8220;I&#8217;ve been doing this for a minute and I&#8217;ve proven my value. And then you apply to one place, two places, 10 places, 50 places, 135 places. And you go, &#8216;Am I the guy I think I am?'&#8221; Despite applying to 135 jobs, he's received only two callbacks and no offers.
It's not just Bach. Many white-collar professionals are struggling. The broader labor market looks fine on the surface. But for six-figure earners, <a href="https://www.benzinga.com/news/24/09/40724455/peter-schiff-says-illusion-of-a-strong-labor-market-fading-faster-than-kamala-harris-post-convention">it's a whole different story. </a>Data shows hiring for high-paying jobs has tanked. <a href="https://economicgraph.linkedin.com/workforce-data">New data from LinkedIn</a> highlights just how bad it is. IT hiring is down 27%. Quality assurance roles have dropped 32%. Product management is down 23% and engineering – once considered recession-proof – has fallen 26%.
Even in Bach's field, program and project management, hiring has slumped 25%. These numbers are shocking for a sector like tech. The sector once treated coders and engineers like "rare minerals." In Silicon Valley, cutting back on these roles was almost unthinkable, no matter how the economy was doing.
See Also: Warren Buffett once said, "If you don't find a way to make money while you sleep, you will work until you die."<a href="https://www.benzinga.com/money/warren-buffet-make-money-when-you-sleep"> Here&#8217;s how you can earn passive income with just $100.</a>
What's going on? There are a few reasons for this slowdown. During the pandemic, tech companies went on a hiring spree to keep up with demand. Now, they're cutting back. Some companies turned to mass layoffs, while others opted for hiring freezes and letting natural attrition shrink their teams.
Jenny Diani, a senior recruiter at Autodesk, sees it firsthand. &#8220;Candidates are being much more careful,&#8221; she told BI. Voluntary turnover in tech is way down, so companies don't need to hire as much.
In addition, AI tools like ChatGPT are making workers more efficient. Google has said that AI generates over 25% of its new code. This means companies can slow hiring without feeling the pinch.
Trending: This Jeff Bezos-backed startup will allow you to <a href="https://www.benzinga.com/money/bezos-landlord-100-dollars">become a landlord in just 10 minutes, with minimum investments as low as $100 for properties like the Byer House from Stranger Things.</a>
<a href="https://www.benzinga.com/real-estate/24/07/39748005/housing-market-eyes-relief-as-weak-job-numbers-and-4-1-unemployment-hint-at-september-rate-cut">The slowdown </a>is frustrating for job seekers. Santiago Rodriguez, a data scientist, has applied to 669 positions. He even built a dashboard to track his applications. &#8220;There's so much angst,&#8221; said Jon Stross, cofounder of Greenhouse, a hiring software company, to BI.
The number of applicants per job is also skyrocketing. Greenhouse reported an average of 222 applications per job opening in early 2024, up from 77 in late 2021. With so many resumes flooding in, hiring managers are overwhelmed.
There's a glimmer of hope, though. Some experts believe the worst of what BI calls the "white-collar recession" might be over. Art Zeile, CEO of Dice, told BI that tech job openings have climbed from 144,000 at the end of last year to 223,000. While it's still below pre-pandemic levels, it's progress.
Bach is optimistic. &#8220;I think a lot of people like me are eager to get back to work,&#8221; he said. &#8220;If you take a risk on me, I'll show you that I'm worth it.&#8221;
Read Next:
<ul>
<li>Many are using this retirement income calculator to check if they&#8217;re on pace —<a href="https://www.benzinga.com/money/how-do-i-calculate-my-retirement-income-adv"> here&#8217;s a breakdown on how on what&#8217;s behind this formula.</a></li>
<li>Studies show 50% of consumers think Financial Advisors cost much more than they do —<a href="https://www.benzinga.com/money/money-pickle"> to debunk this, this company provides matching for free and a complimentary first call with the matched advisor.</a></li>
</ul>

Personal Finance

Six-Figure Job Market Faces 'White-Collar Recession' As LinkedIn Reports 26% Drop In Engineering Roles

WIIM

KULR

KULR Technology Group shares are trading higher after the company announced it won a contract by the U.S. Navy to advance its Internal Short Circuit technology to activate at higher temperatures. Also, the CEO and Co-Founder, Michael Mo, on X posted that the company is building the next digital energy management platform.

Summit Materials, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SUM#NYSE">SUM</a>) shares are trading higher on Monday. The company inked a definitive deal to be acquired by privately owned family business Quikrete Holdings for $52.50 per share in cash, valuing the transaction at <a href="https://www.benzinga.com/pressreleases/24/11/n42159941/summit-materials-enters-into-definitive-agreement-to-be-acquired-by-quikrete-for-52-50-per-share-i" target="_blank" rel="noreferrer noopener">approximately $11.5 billion, including debt</a>.
The deal price&nbsp;represents a 36% premium to Summit&#8217;s 90-day volume-weighted average price and a 29% premium to its unaffected share price. In October, Summit Materials disclosed receiving<a target="_blank" href="https://www.benzinga.com//node/41535519" rel="noreferrer noopener"> a non-binding acquisition proposal.</a>
The deal has been unanimously approved by both Summit and Quikrete&#8217;s Boards of Directors.
The transaction will combine Summit&#8217;s aggregates, cement, and ready-mix concrete businesses with Quikrete&#8217;s concrete and cement-based products, creating a vertically integrated North American construction materials provider with strong customer relationships and iconic products.
The transaction is expected to close in the first half of 2025, pending Summit shareholder approval, regulatory clearances, and other customary closing conditions.
Once completed, Summit will become a privately held subsidiary of Quikrete, and its common stock will no longer be traded on the NYSE.
Anne Noonan, Summit Materials President and Chief Executive Officer, said, &#8220;This combination, and the value it creates, is a testament to our stellar strategic and financial performance, agile operational and commercial execution, and to the strength and talent of our entire team who have delivered a 34.6% annualized return since we began to develop our Elevate strategy on&nbsp;September 1, 2020.&#8221;
Will Magill, Chief Executive Officer of Quikrete, stated, &#8220;This acquisition represents a significant milestone in our journey to expand our capabilities and geographic presence. Summit is a recognized leader with a highly complementary portfolio of trusted aggregate, cement and ready-mix solutions.&#8221;
The company&#8217;s stock has gained over 12% in the past month. Investors can gain exposure to the stock via&nbsp;Professionally Managed Portfolios Congress SMid Growth ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CSMD#NYSE">CSMD</a>) and Invesco Dorsey Wright Basic Materials Momentum ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PYZ#NASDAQ">PYZ</a>).
Price Action: SUM shares are trading lower by 1.72% at $50.77 at the last check Monday.
Read Next:
<ul>
<li><a href="https://www.benzinga.com//node/42162996" target="_blank" rel="noreferrer noopener">Vertical Aerospace Soars: $50 Million Funding Boost And Debt Conversion Propel eVTOL Maker Forward</a></li>
</ul>
Photo by haneen-krimly for Unsplash.

CSMD

PowerShares Dynamic Basic Materials Sector Portfolio

Summit Materials Scooped Up: Quikrete Strikes $11.5 Billion Deal To Cement Industry Presence

Citigroup analyst Keith Horowitz maintains Bank of New York Mellon (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BK#NYSE">BK</a>) with a Neutral and raises the price target from $75 to $82.

Citigroup Maintains Neutral on Bank of New York Mellon, Raises Price Target to $82

Quantum Corp Shares Halted On Circuit Breaker To The Upside, Stock Now Up 169.4%

Biotech

General

INCY

Incyte To Present Late-Breaking Tafasitamab Data In Follicular Lymphoma At ASH 2024 Alongside 20 Oncology Portfolio Updates, Including Phase 3 inMIND Results And Virtual Analyst Event On December 12

Citigroup analyst Tyler Radke maintains Elastic (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ESTC#NYSE">ESTC</a>) with a Buy and raises the price target from $136 to $150.

ESTC

Citigroup Maintains Buy on Elastic, Raises Price Target to $150

TD Cowen analyst Charles Ryhee maintains CVS Health (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVS#NYSE">CVS</a>) with a Buy and raises the price target from $73 to $80.

TD Cowen Maintains Buy on CVS Health, Raises Price Target to $80

Quantum Corp Shares Resume Trade

The Benzinga Future of Digital Assets event highlighted the importance of breaking down barriers in investing, with leaders exploring ways to expand financial participation. Andrew McCormick, head of eToro US, shared his vision for a more inclusive financial future and a promising outlook for cryptocurrency and technology markets.
<h3 class="wp-block-heading">Making Investing Accessible to Everyone</h3>
McCormick argued that there is a pressing need to increase the number of Americans participating in the stock market. Referencing a recent federal report, he noted that only 58% of the population currently holds investments.
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42159139/microstrategy-shares-rise-in-monday-pre-market-as-michael-saylor-reveals-mstr-generating-500m-daily-amid-bitcoins-surge">MicroStrategy Shares Rise In Monday Pre-Market As Michael Saylor Reveals MSTR Generating $500M Daily Amid Bitcoin&#8217;s Surge</a>
"We want to see more people investing. It's such a great way to break down barriers, give people additional hope and opportunity," he said, emphasizing the role of companies like eToro in encouraging broader engagement.
<h3 class="wp-block-heading">A Promising Year Ahead for Bitcoin and Technology</h3>
Looking forward, McCormick expressed optimism for Bitcoin's performance in the coming year and the role of new technologies in shaping financial systems. "I think it's going to be a huge year for Bitcoin, specifically," he explained. He also highlighted the transformative potential of artificial intelligence, predicting it will dramatically impact everyday life and investment strategies.
McCormick offered a straightforward approach to those hesitant to begin investing. "Don't stress about trying to time the market perfectly. Just get started. Take small steps and learn as you go," he advised. His message underscores the importance of taking initial steps, no matter how small, to build financial confidence over time.
<h3 class="wp-block-heading">Building Momentum Through Collaboration</h3>
As leaders at the event discussed the future of digital assets, McCormick highlighted the value of collaboration in fostering a more inclusive investment environment. His remarks aligned with the conference&#8217;s focus on innovative ideas and shared strategies to make investing accessible to a wider audience.
The insights shared at the event reflect a broader movement to empower individuals and reshape how people approach financial markets.
Now Read:
<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42163156/why-bitcoins-rally-is-stalling-below-100000">Why Bitcoin Is Stalling Below $100,000</a></li>
</ul>
Photo by SvetlanaParnikova on Shutterstock

Events

Exclusives

Interview

'Don't Stress About Timing The Market': Advice For New Investors

TD Cowen analyst John Kernan maintains Burlington Stores (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BURL#NYSE">BURL</a>) with a Buy and raises the price target from $288 to $334.

BURL

TD Cowen Maintains Buy on Burlington Stores, Raises Price Target to $334

With India positioning itself as a significant player in the global semiconductor landscape, Advanced Micro Devices Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>) <a href="https://www.benzinga.com/topic/india">is doubling its investments</a>. 
The chipmaking giant views India as a burgeoning market and an essential development hub for innovation and technology growth.
Speaking <a href="https://www.cnbctv18.com/business/amd-ceo-lisa-su-india-essential-development-hub-19513318.htm" target="_blank" rel="noreferrer noopener">to</a> CNBC, AMD CEO Lisa Su highlighted India&#8217;s strategic importance, calling it integral to the company&#8217;s global operations. The Bengaluru design center, AMD&#8217;s largest R&amp;D facility outside the U.S., employs over 8,000 people. It also plays a crucial role in hardware, software, and systems development.
AMD has pledged $400 million in investments in India through 2028. The goal is to bolster its infrastructure and foster a comprehensive semiconductor ecosystem.
Su <a href="https://economictimes.indiatimes.com/tech/technology/every-amd-product-goes-via-india-team-chair-ceo-lisa-su/articleshow/115540041.cms?from=mdr" target="_blank" rel="noreferrer noopener">told</a> the Economic Times that AMD is collaborating with the Indian government to develop two supercomputers focused on weather forecasting. She described these projects as examples of the suitable investments being made in the country. 
Additionally, Su highlighted the potential of artificial intelligence (AI) as the most transformative technology in five decades, with AMD&#8217;s products aiming to make AI more efficient and accessible over time.
Su emphasized that India plays a pivotal role in AMD&#8217;s global portfolio. Every product line passes through the country&#8217;s design center. These initiatives align with India&#8217;s ambitions to become a leader in semiconductor manufacturing and artificial intelligence.
Establishing such ecosystems requires time, Su says. She&#8217;s also optimistic about India&#8217;s progress, pointing to its success in attracting global investments and developing critical infrastructure.
AMD plans to <a target="_blank" href="https://www.benzinga.com/24/11/41961230/amd-plans-to-cut-4-of-workforce-amid-strategic-shift-toward-ai-chip-development-to-rival-jensen-huang-led-nvidias-dominance-report" rel="noreferrer noopener">cut around 1,000 jobs</a>, accounting for 4% of its global workforce, as part of its resource realignment strategy.
The chip designer aims to sharpen its focus on competing with Nvidia Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>).
The chipmaker has been heavily investing in developing AI chips, which are highly sought after by significant hyperscalers such as Microsoft Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>). These high-performance chips come with a substantial price tag and are crucial in expanding AMD&#8217;s presence in the AI market.
Price Action: AMD stock is up 1.85% at $140.91 premarket at last check Monday.
Now Read:
<ul>
<li><a href="https://www.benzinga.com/general/biotech/24/11/42164927/cassava-sciences-controversial-alzheimers-drug-fails-to-hit-primary-goal-in-pivotal-study-halts-late-stage-studies">Cassava Sciences Alzheimer&#8217;s Drug Fails To Hit Primary Goal In Pivotal Study, Pharma Halts Late-Stage Studies</a></li>
</ul>
Image: Shutterstock

Comments

AUSGOLD LTD PERTH by AUSGOLD LTD.

AUSGOLD LTD PERTH by AUSGOLD LTD. (AUSGF) Options

No option chain data available. Please try again later

Popular Channels

Tools & Features

Partners & Contributors

About Benzinga