Shares in Nvidia (NVDA) rose nearly 3% in pre-market trading on Thursday after the company announced a $5bn investment in fellow chipmaker Intel (INTC).
Nvidia (NVDA) said it will invest $5bn in Intel’s common stock at a purchase price of $23.28 per share. This came as part of an announcement that the two companies would be working together to develop artificial intelligence (AI) infrastructure and personal computing products.
Shares in struggling chipmaker Intel (INTC) soared 29% in pre-market trading on the back of the announcement.
Matt Britzman, senior equity analyst at Hargreaves Lansdown, said that Nvidia’s (NVDA) investment in Intel (INTC) is “less about money and more about influence”.
“The deal deepens cooperation between two US chip giants, with Intel set to use Nvidia’s (NVDA) GPU technology and Nvidia gaining a stronger foothold in domestic chip production,” he said.
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“For Intel, this is another welcome boost, both financially and strategically, as it leans on Nvidia (NVDA) to stay competitive,” said Britzman. “But even with the US government and Nvidia on side, it’s one step short of a home run for the foundry business, which is struggling to attract the major customers it needs to succeed against the might of TSMC (2330.TW, TSM).”
Nvidia (NVDA) was also in focus following a report that China has banned the country’s major technology companies from buying its AI chips.
The Financial Times reported on Wednesday that the Cyberspace Administration of China (CAC) told firms, including ByteDance and Alibaba (9988.HK, BABA) to stop their testing and orders of Nvidia’s RTX Pro 6000D, citing three people with knowledge of the matter.
Nvidia CEO Jensen Huang reportedly told press in London on Wednesday: “We can only be in service of a market if the country wants us to be.”
“I’m disappointed with what I see. But they have larger agendas to work out, between China and the US, and I’m understanding of that. We are patient about it.”
Mark Zuckerberg, CEO of tech giant Meta (META), on Wednesday unveiled the company’s first smart glasses with a built-in display.
Meta (META) said its Ray Ban Display AI-powered glasses have a full-colour, high-resolution display “that’s there when you want it and gone when you don’t”, allowing users to check messages, preview photos and more, without them needing to pull out their phone.
Each pair comes with a Meta (META) Neural Band, an EMG wristband that translates the signals created by your muscles (like subtle finger movements) into commands for your glasses.
Meta (META) said the glasses will hit shelves of certain retailers on 30 September, with them starting at $799 (£585) for the glasses and EMG band, with plans to expand in Canada, France, Italy, and the UK for early 2026.
Shares in Meta (META) were little changed in pre-market trading on Thursday.
In Europe, shares in Novo Nordisk (NOVO-B.CO) were up more than 7% on Thursday afternoon, after the Danish pharmaceuticals company said a study showed that its Wegovy pill achieved “significant” weight loss.
Novo Nordisk (NOVO-B.CO) said on Wednesday that a trial showed average weight loss of 16.6% was achieved by people taking oral semaglutide 25 mg, with over a third (34.4%) experiencing a weight loss of 20% or more. It said that this was comparable with previous trial results of injectable Wegovy.
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Martin Holst Lange, chief scientific officer at Novo Nordisk (NOVO-B.CO), said: “Pending FDA approval, ample supply will be available to meet the expected US demand as we hope to set a new treatment benchmark for oral weight loss medications for people with overweight or obesity.”
This comes as competition in the weight-loss treatment space continues to intensify, with Eli Lilly (LLY) releasing results from a trial on Wednesday, saying that its pill, orforglipron, superior to oral semaglutide in head-to-head diabetes trial.
Back in the US, shares in quantum computing company IonQ (IONQ) popped 5.6% in pre-market trading on Thursday.
The jump in shares came after IonQ (IONQ) announced the signing of a memorandum of understanding with the US Department of Energy to advance the development and deployment of quantum technologies in space.
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Niccolo de Masi, CEO of IonQ (IONQ), said: “By working alongside the DOE, we aim to demonstrate the power of quantum computing and networking to enable new applications for secure communications.”
“This MOU reflects the growing importance of quantum technologies in achieving global leadership in space innovation and cybersecurity.”
In addition, IonQ said on Wednesday that it had completed the acquisition of UK-based firm Oxford Ionics, as well as announcing plans to buy US company Vector Atomic.
On the London market, shares in Next (NXT.L) were down 4% on Thursday afternoon, after the retailer said it expected to see “aneamic” growth in the UK economy.
Despite the company’s bleak economic outlook, Next (NXT.L) delivered a strong set of half year results, posting 10.3% growth in total group sales to £3.25bn ($4.43bn) and a 13.4% increase in profit after tax at £387m.
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Aarin Chiekrie, equity analyst at Hargreaves Lansdown, said: “Next (NXT.L) breezed past its original sales guidance over the first half, driven by favourable weather, major disruption at M&S and impressive international growth. In the UK, both online and in-store full-price sales grew at mid-to-high single digits.”
He added: “There are reasons to be cautious about the outlook for the UK economy over the medium to long term though. While Next (NXT.L) isn’t expecting it to drop off a cliff edge, it does expect anaemic growth at best.
“The fashion powerhouse is clearly unimpressed by the current government’s performance, which has brought about declining job opportunities, unfavourable regulation, unsustainable government spending, and rising taxes that make it harder for the economy to grow.”
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