DailyEdge

Samsung's fifth-generation HBM3E chips have passed Nvidia's tests for AI processors, with supply deals expected soon and shipments starting by Q4 2024. This development marks a significant step for Samsung in the competitive high bandwidth memory market. 🌐

Palantir's shares soared over 12% following a substantial Q2 revenue beat and an increased full-year forecast, driven by surging demand for their AI solutions. The company reported $678 million in Q2 revenue, significantly surpassing expectations. 🤖

Stock markets tumbled on Monday, with Japan's Nikkei experiencing its largest one-day fall since 1987, as fears of a U.S. recession sent investors fleeing from risk. European stocks also opened lower, while safe-haven currencies like the yen and Swiss franc surged. 📉

Amazon shares dropped after reporting a rare revenue miss in Q2, overshadowing strong AWS performance. Investors were further concerned by the company's cautious outlook. 📦

Rolls-Royce shares surged 9% after the company reported first-half pretax profit nearly doubled to £1.08 billion, surpassing expectations. The engine maker also announced a return to shareholder distributions and raised its full-year profit and cash flow forecasts. 📈

The company is set to report its fiscal fourth quarter earnings, with analysts expecting $2.94 EPS on $64.5 billion revenue, driven by AI and cloud services growth. Investors are keen to see if AI investments are paying off, following Alphabet's mixed results last week. 📈

The company is set to report its fiscal fourth quarter earnings, with analysts expecting $2.94 EPS on $64.5 billion revenue, driven by AI and cloud services growth. Investors are keen to see if AI investments are paying off, following Alphabet's mixed results last week. 💡

Volkswagen and Rivian may form a joint venture, according to Germany's competition authority. Antitrust head Andreas Mundt confirmed no serious competition issues are anticipated. 🚗

Alphabet's stock dropped 2% after OpenAI announced a new AI search prototype, heightening competition concerns. OpenAI's move, designed to enhance real-time web information retrieval, could challenge Google's search market dominance. 📊

The mega tech giants, including Google and Tesla, have collectively lost $1.7 trillion in market value since July 10th, driven by disappointing earnings and investor concerns over AI investments. This massive selloff marks the first correction since October and has sent shockwaves through the market. 📉