Posts with tag: software development
Chinese AI upstart DeepSeek challenges US dominance, sending tech stocks tumbling. DeepSeek's cheaper model raises questions about AI spending and US tech supremacy.
Published on: January 28, 2025, 10:04 AM UTC
Big Tech earnings are the driving force behind the bull market. Monday's sell-off was sparked by concerns over competition from Chinese AI company DeepSeek. Strategists have been warning of a slowdown in Big Tech earnings growth.
Published on: January 28, 2025, 09:01 AM UTC
US stocks tanked on Monday as tech shares plunged over panic selling sparked by DeepSeek, a new Chinese AI app that outperforms ChatGPT. The S&P 500 lost 1.5% and the Nasdaq Composite fell 3%, with Nvidia losing a record-breaking $589 billion in market cap.
Published on: January 28, 2025, 06:00 AM UTC
Asian stocks fall as AI valuation concerns linger, dollar rises on Trump trade talk; MSCI Asia Pacific Index drops; Nikkei down 1%, Topix up; US equity futures little changed; Dollar gains against G-10 peers; DeepSeek AI's rise raises fears; Trump seeks higher tariffs; China, SKorea, Taiwan markets closed for Lunar New Year.
Published on: January 28, 2025, 05:00 AM UTC
Oil prices near two-week low as China data, warm weather hurt demand
Published on: January 28, 2025, 03:00 AM UTC
For the first time in five weeks, the average weekly retail diesel price saw a decline. Despite President Trump calling for OPEC to reduce oil prices, OPEC+ has stated that it will not increase production before April.
Published on: January 27, 2025, 11:04 PM UTC
Potlatch Corp. (PCH) reports Q4 profit of $5.2 million, surpassing Wall Street expectations. Revenue of $258.1 million also tops estimates. For the year, the company reports profit of $21.9 million, or 28 cents per share, on revenue of $1.06 billion. Zacks Investment Research provides further insights.
Published on: January 27, 2025, 10:07 PM UTC
Venture Global Inc. shares tumbled 20% from its IPO price as investors remain cautious about companies without public track records.
Published on: January 27, 2025, 10:00 PM UTC
Vertiv (VRT) shares plunge 29.87% as DeepSeek's advanced AI model challenges the need for expensive infrastructure, casting uncertainty over demand for data center products and services.
Published on: January 27, 2025, 09:03 PM UTC
A new Chinese AI model raises concerns about the valuation of tech stocks, leading to a plunge in equity markets worldwide. Investors rush for safety in defensive industries, while the crypto world comes under pressure. This story highlights the potential risks of investing in AI-enabled firms, with earnings projections slowing down despite high valuations. Earnings announcements from Microsoft and Apple this week are crucial for restoring confidence.
Published on: January 27, 2025, 09:00 PM UTC