
As we wrap up another eventful week in the tech world, we’ve seen some major developments from industry giants. From Nvidia Corp.’s (NASDAQ:NVDA) stock split announcement to Intel Corp.’s (NASDAQ:INTC) AI-focused strategy, the week was buzzing with news. Here’s a quick recap of the top stories.
NVIDIA Announces Stock Split
In a move to make shares more accessible, NVIDIA announced a 10-for-1 stock split on Friday. The semiconductor giant revealed this decision during its recent quarterly earnings report. The split-adjusted trading will commence on Monday, June 10.’
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Intel Steps Up AI Game
Intel has unveiled its new Lunar Lake chips with enhanced AI processors at the ongoing Computex technology trade show. These chips are aimed at Copilot+ AI PCs and data center chips, positioning Intel to compete with Advanced Micro Devices (NASDAQ:AMD). The Lunar Lake series is set to launch later this year.
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See Also: Exclusive: Apple Supplier Behind Supercomputer Donated To OpenAI Predicts AI Server Sales Tripling To $31B
Foxconn Predicts AI Server Sales Surge
Apple Inc. supplier Hon Hai Technology Group (OTC:HNHPF), operating as Foxconn, is expecting a significant surge in AI server revenue in the next year. This prediction comes amid Nvidia CEO Jensen Huang’s forecast that data center spending will double to $2 trillion by 2029.
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Nvidia CEO Mesmerizes at Computex
Nvidia’s Huang delivered a captivating keynote address at the Computex 2024 pre-event. He credited Nvidia’s partners and highlighted the company’s focus on computer graphics, simulations, and artificial intelligence.
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Musk Explains Nvidia Chip Diversion
Tesla Inc. CEO Elon Musk responded to a report about him redirecting thousands of NVIDIA chips, initially reserved for Tesla, to X and xAI. Musk explained that Tesla had no facilities to activate the chips, and they would have otherwise sat idle in a warehouse.
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This story was generated using Benzinga Neuro and edited by Rounak Jain