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Coinbase Cuts 700 Jobs, Pivots to AI as Crypto Market Weakens
Coinbase will eliminate 700 jobs, or 14% of its workforce, as it restructures around AI and responds to weak crypto markets.
Intel's AI-Driven Surge Faces Pivotal Test as AMD's Forecast and Apple Talks Lift Chip Sector
Intel shares rose 6% premarket after AMD's bullish forecast and Apple's reported chipmaking talks. Data Center and AI revenue grew 22%, but net losses and stretched valuation raise questions.
Flex Shares Surge 28% on AI Data Center Spinoff Plan
Flex shares surged 28.4% premarket after announcing the spinoff of its Cloud and Power Infrastructure unit into a standalone company, targeting AI data center growth.
Netflix Shares Slide Below $88 as Hastings Insider Sale and Weak Guidance Weigh
Netflix shares fell 3.4% to $87.57 as Reed Hastings disclosed a major insider sale ahead of his board exit. Weak Q2 guidance and intensifying competition add to investor concerns.
CoreWeave Faces $66.8B Backlog Test as Q1 Earnings Loom
CoreWeave reports Q1 earnings after the close May 7, with a $66.8B backlog and major deals with Meta, Anthropic, and Jane Street. Investors eye execution risks.
Nebius Eyes Record Highs After $643M Eigen AI Deal, Q1 Earnings in Focus
Nebius shares hover near record highs after a $643M deal for Eigen AI, with Q1 earnings due May 13 set to test the stock's momentum.
Uber's Strong Bookings Forecast Puts Pressure on Lyft Ahead of Earnings
Uber forecast Q2 gross bookings of $56.25-$57.75B, above estimates, after a Q1 revenue miss. Shares rose ~8% premarket. Lyft reports after Thursday's close.
Verizon Shifts Strategy: Ends Blanket Free Phone Offers, Targets Retention
Verizon CEO Dan Schulman ends blanket free phone and line offers, shifting to targeted retention. The carrier added 55,000 postpaid subscribers in Q1, its first positive Q1 since 2013.