Latest Business News
SK Hynix Profit Jumps on Soaring AI Memory Chip Prices
SK Hynix reported strong 1Q results with profit boosted by high demand for AI memory chips. This fueled optimism driving Korean stocks to record highs. Samsung also hit records on similar AI trends.
Tesla Boosts Spending Plan to $25B in AI and Robotics
Tesla announced plans to invest up to $25 billion this year in AI and robotics, citing EV demand recovery and profit exceeding expectations. The move highlights aggressive tech expansion despite market fragility.
S&P 500 Hits Fresh Record Led by Chipmakers
The S&P 500 reached a new record high, driven by chipmakers amid AI optimism. US equity futures later fell after the peak.
South Korean Growth Beats Estimates on AI-Fueled Exports
South Korea's economy grew faster than expected, powered by an AI export boom. This contributed to stock market records.
Brent Crude Rises Above $100 on Hormuz Tensions
Oil prices surged past $100 per barrel as US-Iran standoff escalates over Strait of Hormuz control. Traders remain on edge with no deadline for Iran's peace proposal.
US Says No Firm Deadline for Iran Peace Proposal
The White House awaits Iran's proposal amid Hormuz tensions but set no deadline. Iran menaces the strait with oil tankers testing US blockade.
TSMC Calls ASML’s Latest Chip Gear Too Pricey
TSMC stated ASML's newest chipmaking equipment is too expensive to use effectively. This reflects cost pressures in advanced semiconductor production.
SoftBank Seeks $10B Margin Loan Backed by OpenAI Shares
SoftBank is pursuing a $10 billion margin loan using OpenAI shares as collateral. The deal underscores heavy AI investments.
China's Gotion: War Shifts Focus to Clean Energy
Battery-maker Gotion High-Tech says the Iran war is redirecting global attention to clean energy transitions. This comes amid rising oil prices.
Lululemon Names Ex-Nike Exec Heidi O'Neal as New CEO
Lululemon appointed former Nike executive Heidi O'Neal as CEO starting September. She steps in amid slowing growth and investor concerns over recent products.
Tencent, Alibaba in Talks for DeepSeek Funding Round
Tencent and Alibaba are negotiating to join the funding round for AI firm DeepSeek. This highlights continued Chinese tech investment momentum.