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The US House China committee chair has urged the Trump administration to ban US companies from buying memory chips from CXMT and YMTC to avoid...

Investing.com - U.S. stock futures were largely steady on Thursday as softer inflation data continued to support hopes that the Federal Reserve can keep interest rates on hold.

Major Taiwan computer chipmaker TSMC said Thursday it plans to spend another $100 billion on expanding its manufacturing capacity in the United States. The world's largest contract chip manufacturing and one of the world’s most valuable companies, TSMC’s results are seen as a barometer for the global chip industry and for AI at a time when worries about a potential AI bubble have been buffeting financial markets. As AI-related demand continues to surge, it has been expanding chip fabrication plants in the U.S., Japan and Taiwan.

The world’s largest contract chip maker posted its fifth straight quarter of record earnings amid voracious global appetite for artificial-intelligence infrastructure.

June’s Producer Price Index (PPI) declined 0.3% from the previous month, marking its steepest drop in more than a year.

With Q2 earnings closing in, Jefferies just named its top Magnificent 7 pick and the choice cuts across some of the most widely held retirement stocks in America. One of these three tech giants wins on valuation, one wins on income, and one barely shows up to the fight.

TSMC, the world's largest manufacturer of advanced AI chips, is expected to ‌notch a fifth consecutive quarter of record earnings on Thursday, with a ‌59% surge in net profit for April-June, driven by booming global demand for AI infrastructure. Analysts ​said demand for Taiwan Semiconductor Manufacturing Co's (TSMC) 3-nanometre and 2-nanometre process technologies for AI chips, as well as for its advanced chip packaging technology, CoWoS, remains strong. TSMC is ⁠expected to report net profit of T$632.6 billion ($19.65 billion) for the second quarter, according to an LSEG SmartEstimate compiled from 18 analysts.

Cooler-than-expected producer prices contributed to hopes for easing inflation on Wednesday.

Dell, Sandisk and Micron led an AI sell-off, masked by megacaps such as Apple. SpaceX undercut its IPO price. Taiwan Semi, GE Aerospace earnings are due.

Apple shares rose 4% to $327.50, a new all-time closing high. The Cyberspace Administration of China on Wednesday included Apple’s generative artificial intelligence on a list of newly approved providers. Evercore ISI analyst Amit Daryanani wrote that the update clears the biggest regulatory hurdle for Apple Intelligence—the company’s AI software—in the world’s largest smartphone market.

(Updates with market moves at the end of the day.) US equities rose Wednesday, driving major inde

FINANCE U.S. stocks edged higher Wednesday as gains in megacap technology names offset weakness in chip stocks. PayPal surged on reports of a takeover offer and another round of strong bank earnings kept Wall Street in an upbeat mood.

Memory stocks plunged on Wednesday along with shares of other hardware providers for AI data centers.

On June 25, Apple told the market it was raising prices on MacBooks, iPads, and other devices to cover the cost of a global memory chip shortage. The stock fell sharply that day, wiping out everything it had gained year to date. For a company that had been on a strong run, it was a rough afternoon. ...

Apple is looking to buy chip companies to bolster its efforts to make server processors for ‌running AI, The Information reported on Wednesday, citing people familiar ‌with the matter. • Apple's interest comes as it faces challenges with the performance of its in-house AI servers, which currently ‌run on internally designed ⁠M2 Ultra chips, according to The Information. • It had originally planned to ship a future version of ⁠its AI server chip, known internally as "Baltra", this year, but the project has been pushed back, people familiar with the matter told The ​Information.

OpenAI says it sees no evidence supporting Apple's lawsuit over alleged trade-secret theft.

Apple is officially shopping. The iPhone maker is quietly exploring acquisitions of semiconductor startups to supercharge its artificial intelligence server capabilities, moving aggressively to close the gap in the high-stakes AI arms race. According to a report from The Information, Apple has been in active talks with investment bankers and semiconductor startups over the past few months to gauge potential buyouts. The driving force behind this push? A pressing need for more horsepower. Current

OpenAI plans a screen-free AI home device while Apple seeks an injunction that could delay its rollout.

OpenAI still plans a year-end device reveal, but Apple's lawsuit, ecosystem strength and rising component costs may complicate its hardware push.

The judge ruled that federal law protects Apple from claims tied to content uploaded by users.

(Updates with economic data, recent oil price movement, world markets' overview and corporate stock

Stock Market Today: The Dow Jones index wavered Wednesday ahead of key inflation data. ASML stock jumped on earnings.

Apple’s artificial-intelligence system has secured government approval in China, clearing a major roadblock for the iPhone maker to introduce the service in the world’s largest smartphone market.

(Bloomberg) -- Apple Inc.’s on-device artificial intelligence system got its long-awaited approval for release in China, integrating Alibaba Group Holding Ltd.’s Qwen AI into the iPhone experience.Most Read from BloombergThailand Scraps Plan to End Visa-Free Entry for Indian TouristsTrump Drops 20% Fee for Hormuz Cargo After Gulf PressureUS Hits Iran With Strikes, Blockade as Trump Plans Hormuz ChargeOpenAI’s First Device Will Be Movable, Screenless Speaker Built as AI Companion‘We Faltered’: IB

China's cyberspace ‌regulator said on Wednesday ‌that Apple's on-device generative AI service "Apple Intelligence" ​has been registered for use on iPhones in the country. Apple's intelligence services will incorporate capabilities from Baidu ‌and Alibaba's AI ⁠models, according to a source, who declined to be ⁠named. Apple did not immediately respond to an emailed request for comment.

U.S. stock futures were largely higher in early European trade, as positive market sentiment following lower-than-expected inflation data buoyed risk assets.

The product is expected to be OpenAI’s first physical AI device and a crucial milestone as the company moves forward with its IPO plans.

OpenAI has issued another statement on the lawsuit, this time suggesting it lacks merit.

Apple seeks damages and other legal remedies that could slow OpenAI's device development and hiring.

OpenAI says it takes Apple’s complaint seriously but questions whether the allegations have any merit.