00:00Now let's turn our attention to some of the major corporate developments from Wall Street overnight,
00:04where investors continue to digest a fresh wave of earnings reports, strategic announcements and market-moving updates from some of
00:11America's largest companies.
00:13And these developments not only offer a snapshot of corporate performance and business sentiment,
00:17but also provide valuable clues about broader economic trends, consumer spending patterns and the outlook for key sectors ranging from
00:24technology and healthcare to transportation and travel.
00:27Whether you're an active investor or simply keeping a close eye on the markets,
00:31these are the stories that could help better understand where opportunities and risks may be emerging and ultimately support more
00:38informed investment decisions.
00:42Intel said on Monday it was planning to raise $15 billion to a share sale as it looks to fund
00:48the costly build-out of its cheap contract manufacturing business
00:52by cashing in on a stock surged fuel by its turnout efforts.
00:56Once a dominant force in the global chip industry, Intel is investing heavily in new facilities and advanced packaging capabilities
01:04as it seeks to challenge industry leaders such as CSMC in contract chip manufacturing.
01:10Its shares fell more than 4% in early Monday trading.
01:14As of last close, the stock has nearly tripled this year, outperforming rivals AMD and NVIDIA.
01:20Several analysts have said Intel's surging share price has increased the chances of an equity raise to help fund its
01:28expansion plans.
01:30Microsoft is planning to unveil its new MAIA-300 AI chips this fall, potentially as soon as next month.
01:38The information reported on Monday, citing people with direct knowledge of the plans.
01:42The company introduced its MAIA AI chip in November 2023 but has lacked rivals such as Alphabet and Amazon in
01:51scaling up its in-house chip efforts
01:53as it seeks to reduce its reliance on NVIDIA's costly processes.
01:58Microsoft has been in talks with chips maker DSMC to secure manufacturing capacity for more than 300 units of the
02:07chip for delivery in 2027, according to the report.
02:10It is also looking to significantly ramp up production and persuade major cloud customers such as Entropic to adopt the
02:18chip.
02:19A U.S. appeals court on Monday allowed thousands of lawsuits to move forward against Meta platforms.
02:25Alphabet's Google, ByteDance, TikTok and Snap Inc. Snapchat over claims they designed their products to be addictive to young users.
02:33The San Francisco-based 9th U.S. Circuit Court of Appeals rejected an appeal by Meta and TikTok
02:39seeking to overturn a lower court ruling requiring them to face more than 3,000 lawsuits filed in federal court,
02:47saying the companies had appealed too early.
02:50The companies had argued that Section 230 of the Communications Decency Act of 1996,
02:56which generally shields online companies from claims over content posted by their users,
03:01also bars lawsuits claiming they failed to warn the public about the addictive nature of their platforms.
03:08Most appeals come after case has concluded with a ruling or a verdict.
03:13The companies contended that they should not have to wait until litigation ends to challenge the lower court's rejection of
03:20their immunity defence.
03:22But the 9th Circuit said Section 230 provides a defence to liability,
03:27not immunity from lawsuits, so the appeal was premature.
03:32The news comes days after a New Mexico judge found Meta had created a public nuisance in the state
03:38and ordered it to pay $567 million into a teen mental health fund and implement youth safety measures.
03:46The things downright, to convince you as a party at least in the state's
03:50The Carmilla Pass
Comments