Articles by Sarah Chen
Western Digital Soars to Record on HDD Demand for AI Data Centers
Western Digital shares surged 10% to a record $532.74 after Evercore ISI boosted its price target to $575, highlighting the critical role of HDDs in AI infrastructure.
Bank of America Boosts Apple Target to $380 on AI Revenue Hopes
Bank of America raised its Apple price target to $380, betting on AI monetization via Siri. Shares edged higher, and split talk revived ahead of the developer conference.
Robinhood Clears Canadian Regulatory Hurdle, Eyes Growth Amid Crypto Revenue Dip
Robinhood Markets has secured regulatory approval to enter Canada through its acquisition of Coinsquare Capital Markets, with closing expected around June 1. The move comes as the company faces a 47% drop in crypto revenue.
Applied Digital Secures $7.5B AI Lease, Total Backlog Hits $31B
Applied Digital lands a $7.5B, 300MW lease with a major cloud provider, pushing its total contracted revenue to $31B and drawing bullish analyst upgrades.
ServiceNow Attracts Major Institutional Buying Amid AI Focus
Institutional investors boosted ServiceNow holdings in Q4, with three firms hiking stakes by up to 885%. The workflow software firm reported 22% revenue growth to $3.77 billion.
Strategy Inc. Halts Bitcoin Buys to Repurchase $1.5B Convertible Notes
Strategy Inc. paused bitcoin acquisitions to repurchase $1.5 billion of its 2029 convertible notes, paying $1.38 billion in cash. Shares fell 3% as bitcoin traded near $77,100.
Meta Hikes AI Spend to $145B as Wall Street Questions ROI Timeline
Meta boosted its 2026 AI spending forecast to $145 billion, sending shares down 8.6%. Wolfe Research sees $26 billion in potential 2027 revenue, but analysts remain skeptical about the payoff timeline.
Nvidia and IREN's $3.4B Deal Highlights AI Infrastructure Bottleneck
Nvidia and IREN Ltd. announced a $3.4 billion GPU cloud deal and up to 5 GW of AI infrastructure, but IREN's co-founder warns new data centers may not go live until 2030 due to power and land constraints.