Riot Options Volume Jumps as Stock Rallies 10% After Starboard Reportedly Takes Stake

Luzi Ann Santos12:34 ET · Movers

Nvidia Adds Hundreds To Its Workforce In China To Build Autonomous Driving Tech Amid Antitrust Investigation: Report

BenzingaDec 12 01:10 ET

Broadcom's Projections Show More Evidence of the AI Boom Expanding Beyond Nvidia

MarketWatch40minutes ago

Wall Street is hot on quantum computing stocks, but Google's quantum chip does not actually possess computing power.

Google unveiled its new "quantum chip" Willow this Tuesday, causing its parent company Alphabet and related Stocks to surge significantly this week. However, Analysts indicate that quantum computing is still a long way from any commercial use and advise investors not to get overly excited due to the recent rise.

wallstreetcn18:28 ET

The Nasdaq fell to 0.02 million points, Adobe plummeted more than 13%, the China concept Index rose against the trend, and Bitcoin dropped below 0.1 million dollars.

In November, USA PPI inflation exceeded expectations, with the market betting on a pause in interest rate cuts in January next year. The Dow has fallen for six consecutive days, with NVIDIA experiencing the largest drop of 2.5%. Tesla, Meta, Google, and Amazon have moved away from their highs, uranium mining stocks have declined, but Apple reached a new high. Broadcom rose nearly 5% in after-hours trading, and Chinese stocks Baidu and PDD Holdings increased by over 1%. Bond yields in Europe and the USA have risen significantly, and after the European Central Bank cut interest rates, the euro fell to a one-week low, before rebounding. The dollar reached a two-week high, while the offshore yuan once rose over 200 points, breaking through 7.26 yuan. Commodities generally fell, with spot gold down over 2% and spot silver down over 4% during the session.

wallstreetcn18:24 ET

Broadcom's earnings exceeded expectations, driven by sales growth from AI.

Apple and other large Technology companies' chip supplier Broadcom reported better-than-expected earnings for the fourth quarter, boosted by demand for AI. The company stated in a release on Thursday that its EPS, excluding certain items, was $1.42. Revenue rose to nearly $14.1 billion. Compilation data shows that the Analysts' previous average forecast was an EPS of $1.39 and revenue of $14.1 billion. Broadcom expects sales for the first quarter ending in January to reach $14.6 billion, in line with Analysts' expectations. Broadcom's Earnings Reports show that demand for AI computing is offsetting slowdowns in other areas. Broadcom collaborates with NVIDIA.

Global Market Reporting17:18 ET