Articles by Sarah Chen
Bitmine Shares Drop as Ethereum Retreats, Treasury Holdings in Focus
Bitmine Immersion Technologies shares declined approximately 3% in Thursday trading, mirroring a drop in Ethereum's price. The company's substantial treasury, holding 4.6 million ETH, ties its stock performance closely to the cryptocurrency's movements.
Ondas Shares Dip Amid Share Registration, Defense Ventures Advance
Ondas Holdings shares fell nearly 4% after a registration for 3.36 million shares for resale by former Bird Aerosystems owners. The company concurrently announced a joint venture in Europe and highlighted its drone defense unit's role at the World Economic Forum.
Nvidia's Networking Unit Surges, Fueling $1 Trillion AI Ambition
Nvidia's networking division generated $11 billion last quarter, more than triple the prior year, as the company reported record total revenue of $68.1 billion. CEO Jensen Huang outlined a $1 trillion revenue target for its AI chips by 2027.
Palantir Shares Dip Despite Navy Contract Expansion, AI Competition Heats Up
Palantir Technologies shares declined 1.5% to $152.77 on Wednesday despite adding supplier Keel to its U.S. Navy ShipOS project. The drop coincided with broader software weakness and news that OpenAI will supply AI models to defense agencies.
MARA Stock Drops Amid Bitcoin Decline and Fed Uncertainty
MARA Holdings shares declined alongside Bitcoin after the Federal Reserve held rates steady, with the company posting a significant annual loss and executives filing to sell shares.
Bitmine Shares Drop 7.8% as Ether Slumps Following Fed Decision
Bitmine shares declined 7.8% in extended trading Wednesday, pressured by a 5.9% drop in ether following the Federal Reserve's policy announcement. The company holds 4.6 million ETH and reported $11.5 billion in total assets.
Trade Desk Stock Slides on Agency Rift, Analyst Downgrades
The Trade Desk stock declined for a second consecutive session following Publicis Groupe's decision to stop recommending its platform to clients, which triggered multiple Wall Street rating cuts.
AI Storage Demand Fuels SanDisk Rally Amid Valuation Debate
SanDisk shares advanced 4.6% as analysts highlight sustained AI-driven flash storage demand in data centers. The company posted a 61% year-over-year revenue jump and extended its supply agreement with Kioxia through 2034.
XRP Retreats 5% as Fed's Hawkish Stance Dampens Crypto Rally
XRP declined approximately 5% to $1.46 on Wednesday, reversing gains from a prior rally after the Federal Reserve maintained a cautious interest rate outlook. The SEC provided regulatory clarity, classifying XRP alongside Bitcoin and Ethereum as digital commodities.
Bitcoin Retreats Below $72K as Fed Signals Limited Rate Cuts, Crypto Assets Slide
Bitcoin dropped below $72,000 following the Federal Reserve's decision to maintain interest rates and signal just one reduction in 2024. The broader crypto market and related equities faced selling pressure amid elevated inflation forecasts.
Nebius Secures $4B in Convertible Notes to Fund AI Expansion
Nebius shares gained 4.4% to $121.42 after the AI cloud company priced an upsized $4 billion convertible note sale. Proceeds will fund data center expansion and GPU purchases to support its growing AI infrastructure business.
IBM Completes $11 Billion Confluent Acquisition, Stock Trading Halted
IBM has finalized its $11 billion acquisition of Confluent Inc., with the data-streaming company's shares ceasing public trading at the agreed $31 per share cash price.