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Netflix is ditching a deal to buy Warner Bros. Discovery's studio and streaming assets after the WBD board deemed a revised bid by Paramount to be superior.
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The move was a stunning development in the long-running corporate battle for the storied media giant.
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While Nvidia's latest results were deemed "phenomenal," a massive shift in trading flows has sent software stocks rising as investors ditch AI chip names.
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Netflix is declining to raise its offer to buy Warner Bros. Discovery's studio and streaming business.
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Salesforce is looking to buy the dip with a $50 billion share-repurchase program as the software selloff continues to send its stock falling, but Wall Street is wondering if the money would be better spent investing in more artificial-intelligence capabilities.
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Customer concentration continues to be a pain point for the AI space-and Wall Street isn't buying the hype.
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There's at least one executive in the artificial intelligence space who doesn't think AI will cannibalize software companies: Nvidia's Jensen Huang.
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Contemporary Amperex Technology Co. Ltd. reported quarterly net income well short of analyst estimates as the global slowdown in electric vehicle sales starts to bite.
While net income for the third quarter ended Sept. 30 rose 26 percent to 13.1 billion yuan ($1.8 billion) versus the same period last year, that was a lot lower than the 14.7 billion yuan expected. Revenue shrank 12.5 percent to 92.3 billion yuan year-on-year, sharply down on projections for 118.4 billion yuan.
The world's largest maker of EV batteries is being hit as automakers from General Motors to Ford begin to scale back EV production plans and delay model launches. Countries like Japan and Germany, home to some of the largest automotive incumbents, have seen not just a slowdown in the growth rate, but an outright decline in EV sales.
CATL supplies many big name carmakers, including Tesla Inc.
Although the Chinese giant dwarfs competitors, it isn't alone in feeling the pain. The world's third largest battery maker, South Korea's LG Energy Solution Ltd., is likely to suffer its third consecutive quarterly profit decline, its most recent preliminary earnings show.
For the January to August period, CATL's global market share stood at 37.1 percent, up 1.6 percentage points on the same period of last year, data from SNE Research show. LG Energy's market share shrunk 2.3 percentage points to 12.1 percent.
CATL's greater control over its supply chain does at least wring more profit from its suppliers, helping to drive down costs. Bloomberg Intelligence has suggested that more global EV makers adopting cheaper lithium-iron-phosphate (LFP) batteries could help CATL gain market share overseas. The company's energy-storage business is also emergin
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