Nvidia and other artificial intelligence stocks at the forefront of the AI revolution are rebounding somewhat in premarket trading Tuesday after a selloff triggered by Chinese startup DeepSeek’s launch of a cutting-edge model at a fraction of the cost of its U.S. rivals.
Commvault Systems (NASDAQ:CVLT) Delivers Strong Q4 Numbers, Full-Year Outlook Exceeds Expectations
Data backup provider Commvault (NASDAQ:CVLT) announced better-than-expected revenue in Q4 CY2024, with sales up 21.1% year on year to $262.6 million. On top of that, next quarter’s revenue guidance ($262 million at the midpoint) was surprisingly good and 4.3% above what analysts were expecting. Its non-GAAP profit of $0.94 per share was 7.6% above analysts’ consensus estimates.
Billionaire Oil Heirs Pivot to Luxury Property and Diamonds
(Bloomberg) -- The billionaire family behind one of Europe’s largest independent oil companies is boosting investments in high-end real estate, diamonds and clothing as it seeks to branch out from hydrocarbons. Most Read from BloombergTrump's Federal Funding Pause Threatens State Financials Texas HOA Charged With Discrimination for Banning Section 8 RentersBudapest Mayor Aims to Block Orban’s Plans to Build ‘Mini Dubai’Vienna Embraces Heat Pumps to Ditch Russian GasNewsom Enlists Magic Johnson,
Tom Lee Calls Monday's Market Plunge a Great Buying Opportunity After AI, Crypto-Led Rout
On Monday, NVIDIA had the largest single-day market cap loss in history, erasing $465 billion in market cap.
DeepSeek Is Upending Wall Street’s Big AI Power Trade
The selloff extended to shares of natural-gas producers, pipeline operators, mining companies, and electricity generators.
‘Is DeepSeek a DeepFake or real?’ Doubts and questions emerge on Wall Street and in Silicon Valley
Also: Meta forms DeepSeek war rooms, Ryanair CEO hopes Trump scares Europe.
Billionaire Beal’s Bank Scored Record Year After Tapping the Fed
(Bloomberg) -- The Federal Reserve’s discount window has been so synonymous with trouble that the central bank has taken steps to reduce the stigma of banks tapping it. But just before the latest banking crisis, the window’s biggest borrower was a small Las Vegas bank, fueling its best year ever. Most Read from BloombergTrump's Federal Funding Pause Threatens State Financials Texas HOA Charged With Discrimination for Banning Section 8 RentersBudapest Mayor Aims to Block Orban’s Plans to Build ‘M