Oracle Corp (NYSE:ORCL, XETRA:ORC) shares fell another 5% on Friday, putting it on track for a 15% loss for the week, after Bloomberg reported the company has pushed back the completion of several data centers related to its partnership with OpenAI from 2027 to 2028.
The report, which cited sources with knowledge of the projects, said the delays are attributed primarily to labor and material shortages.
Broadcom Inc (NASDAQ:AVGO, XETRA:1YD) is drawing strong support from analysts following its latest earnings report, as the company’s expanding artificial intelligence (AI) business offsets concerns about margin pressures and a premium valuation.
Analysts at Bank of America noted the company’s AI backlog of $74 billion over the next six quarters, calling it “generally in line with bull case expectations, and management suggests that more could be added.”
Rivian Automotive Inc (NASDAQ:RIVN) has developed its own chip and artificial intelligence models to power future self-driving features, the company announced Thursday at an event in Palo Alto, California.
The move will replace Nvidia-powered systems currently embedded in Rivian’s vehicles and forms part of the company’s broader push into autonomous driving and software-driven services.
Shares of RH (NYSE:RH) rose about 6% at Friday’s open after the upscale home furnishings retailer posted third-quarter revenue slightly ahead of expectations but reported earnings that fell short of Wall Street forecasts.
The company reported quarterly revenue of $884 million, roughly in line with estimates of $883.26 million, while earnings per share of $1.71 missed expectations of $2.16.
Cannabis stocks surged on Friday on reports that President Donald Trump is considering an executive order to reschedule marijuana at the federal level, potentially moving it from Schedule I to Schedule III.
According to people familiar with the matter, Trump has discussed the proposal with marijuana industry executives, Health and Human Services Secretary Robert F. Kennedy Jr., and Centers for Medicare & Medicaid Services Administrator Mehmet Oz.
Haydale Graphene Inds PLC (LSE:HAYD, OTC:HDGHF) shares fell 6.8% to 0.56p after it announced a proposed fundraising of up to £6.41 million and the planned cash-and-shares acquisition of SaveMoneyCutCarbon (SMCC).
SMCC provides sustainability solutions that cut energy, water and carbon use through consultancy, project delivery and installation of efficiency technologies, as well as a partner programme with major banks and utilities, including Barclays, Lloyds and Santander.
Broadcom Inc's (NASDAQ:AVGO, XETRA:1YD) sharp after-hours slide, a drop of about 4.5%, wiping roughly $72 billion off its value, set the tone for a bruising session, as investors balked at the company’s latest outlook for AI-related sales.
The chipmaker, often bracketed with Nvidia Corp (NASDAQ:NVDA, XETRA:NVD) in the race to supply high-end components for artificial intelligence systems, unnerved the market when chief executive Hock Tan offered a backlog figure that sounded underwhelming.