(Reuters) -Nvidia-backed CoreWeave beat Wall Street estimate for quarterly revenue on Wednesday, in its first set of results as a public company, signaling strength in demand for the AI cloud computing startup’s services. Shares of the New Jersey-based company jumped 11% in extended trading. Through last close, they have risen 68% since their muted Nasdaq…
(Reuters) -Netflix said on Wednesday 94 million subscribers use its advertising-supported tier, up from 70 million in November, as the video-streaming giant’s lower-priced plan sees strong support amid global economic uncertainty. With more than 300 million global customers, Netflix is seeing robust spending across all streaming tiers and had said in April it is not…
By Nate Raymond (Reuters) -A coalition of 20 Democratic-led states filed two lawsuits on Tuesday seeking to block President Donald Trump’s administration from forcing them to cooperate with immigration enforcement in order to receive billions of dollars in transportation, counter-terrorism and emergency preparedness grant funding. The states in a pair of lawsuits filed in federal…
(Reuters) -The volume of processors Intel is set to produce for external customers using its upcoming manufacturing technology is currently “not significant”, finance chief David Zinsner said on Tuesday. Committed volumes, or the amount of external customers’ chips set to be produced by Intel using upcoming manufacturing tech, is presently not significant, Zinsner said at…
PARIS (Reuters) -There is room for another rate cut by the European Central Bank by the summer, ECB policymaker Francois Villeroy de Galhau said in a French newspaper group interview on Tuesday. Villeroy – who is also head of the Bank of France – said the United States would likely see an uptick in inflation…
(Reuters) – The Trump administration is weighing a deal that would allow the UAE to import more than a million advanced Nvidia chips, a quantity that far exceeds limits under Biden-era AI chip regulations, Bloomberg News reported on Tuesday. The deal, which is still being negotiated and could change, would let the UAE import 500,000…
By Maggie Fick (Reuters) -U.S. President Donald Trump signed a broad executive order on Monday directing drugmakers to lower the prices of their prescription drugs to align with what other countries pay. White House officials said the government will give drugmakers price targets in the next month, and will take further action within six months…
By Jessica DiNapoli NEW YORK (Reuters) -Newell Brands is looking for more clarity on how newly lowered U.S. tariffs will be applied before potentially resuming shipments of its Graco baby strollers and child car seats from China, a spokesperson said on Monday. Atlanta-based manufacturer Newell, whose products range from coffee makers to pens, paused purchase…
(Reuters) -The developer of a major U.S. offshore wind project warned that it will cancel the Empire Wind facility off the coast of New York if it cannot reach a resolution over a stop-work order issued by the Trump administration in the coming days. Molly Morris, president of the U.S. renewable energy arm of Norway’s…
By Ann Saphir (Reuters) – The U.S. government posted a $258 billion budget surplus for April, up 23%, or about $49 billion, from a year earlier, reflecting strong tax receipts in the final month of the tax season and surging collections of import duties, the Treasury Department said on Monday. Treasury reported that net customs duties…
