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In the world of mankind, there will not be a statement without any position, nor a remark without any purpose.
Inflation, exchange rates, and the economy shape the policy decisions of central banks; the attitudes and words of central bank officials also influence the actions of market traders.
Money makes the world go round and currency is a permanent commodity. The forex market is full of surprises and expectations.
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The latest breaking news and the global financial events.
I have 5 years of experience in financial analysis, especially in aspects of macro developments and medium and long-term trend judgment. My focus is maily on the developments of the Middle East, emerging markets, coal, wheat and other agricultural products.
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Top Wall Street analysts changed their outlook on these top names. For a complete view of all analyst rating changes, including upgrades and downgrades, please see our analyst ratings page.
Considering buying MU stock? Here’s what analysts think:
Latest Ratings for MU
Date | Firm | Action | From | To |
---|---|---|---|---|
Feb 2022 | Wedbush | Upgrades | Neutral | Outperform |
Jan 2022 | Goldman Sachs | Maintains | Buy | |
Jan 2022 | New Street Research | Initiates Coverage On | Buy |
View More Analyst Ratings for MU
View the Latest Analyst Ratings
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Chinese artificial intelligence developers have made a breakthrough in gaining access to sophisticated advanced AI chips as U.S. semiconductor sanctions on China erode their AI ambitions.
The Chinese AI developers are acquiring advanced Nvidia Corp chips without importing them into China by leveraging computing power abroad through brokers.
The developers are resorting to cryptocurrency-world methods, like using blockchain technology for anonymity, to bypass U.S. semiconductor sanctions, the Wall Street Journal reports.
AI developers rent the computing power needed to run AI algorithms, working with overseas data centers and decentralized platforms, bypassing the cumbersome effort of importing the chips into China.
Derek Aw's company, a former Bitcoin miner, loaded over 300 servers with the chips into a data center in Brisbane, Australia, after which they began processing AI algorithms for a company in Beijing, the WSJ noted.
Joseph Tse is a former employee of a Shanghai-based AI startup that, according to WSJ, arranged for over 400 servers at a data center in California with Nvidia's H100 chips to train its AI model.
The WSJ said Edge Matrix Computing connected over 3,000 GPUs in its decentralized network, including Nvidia chips, for AI training.
Alibaba Group Holding , Tencent Holding , and Baidu Inc collectively spent 50 billion Chinese Yuan ($7 billion) on capital expenditures in the first half of this year, compared to 23 billion Chinese Yuan a year ago, focusing on processors and infrastructure for training AI models, the Financial Times reports.
Chinese tech companies are purchasing lower-performance processors like Nvidia's H20, priced between $12,000 and $13,000 each.
Previously, Alibaba Co-founder and chairman Joe Tsai stated that China trailed behind the U.S. in the AI race due to the U.S. sanctions, which also took a toll on Alibaba's cloud business.
Analysts predict Nvidia will ship over a million units of these processors to Chinese firms in the coming months.
Despite these investments, China's Big Tech capex still trails far behind that of their American counterparts, with Alphabet Inc , Amazon.Com Inc , Meta Platforms Inc , and Microsoft Corp spending $106 billion in the same period.
Thanks to the AI frenzy, Nvidia stock has risen over 176% in the last 12 months. Alibaba is down over 7.4% due to the weak Chinese economy, escalating domestic re-commerce rivalry, and U.S. semiconductor sanctions that have damaged the e-commerce juggernaut.
Price Actions: NVDA stock traded higher by 0.53% at $130.05 premarket at last check Monday.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo via Shutterstock
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
** Shares of cybersecurity firm SentinelOne S.N edge ~1% to $25.45 premarket after two price target hikes
** At least 9 brokerages have hiked PT for the stock since Aug. 16, with most citing market share gains following the CrowdStrike-related CRWD.O outage in July
** "Following the incident, commentary in the channel significantly improved for S. Although it likely takes time to impact numbers given normal sales cycle cadence..." - Needham, raises PT to $29 from $25
** Wedbush Securities raises PT to $30 from $20
** "All four of our checks following the CRWD outage argued that S should gain share in coming quarters," BTIG had said
** S set to report fiscal Q2 results after markets close on Tuesday
** Up to last close, stock has gained 23.6% in the past 14 sessions, but is down ~8% so far this year
(Reporting by Akash Sriram in Bengaluru)
(( Akash.Sriram@thomsonreuters.com ; https://twitter.com/hoodieonveshti; ))
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