CNBC Daily Open: BOJ ups rate to 0.25%; U.S. stocks fall; Starbucks' same-store sales decline

  • 📰 NBCLA
  • ⏱ Reading Time:
  • 54 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 25%
  • Publisher: 59%

Business News News

Business Business Latest News,Business Business Headlines

Japan’s central bank lifted its benchmark interest rate to “around 0.25%” from the previous range of 0% to 0.1%.

This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Like what you see? You can subscribefrom the previous range of 0% to 0.1%, narrowing the rate differential with the U.S. Federal Reserve which had pressured the yen.

for the second quarter, helped by robust demand for its advanced memory chips, which are essential for AI training. Revenue climbed 23.42% year-over-year to 74.07 trillion Korean won, or around $53.45 billion. Operating profit increased 15 times to 10.44 trillion Korean won. The South Korean tech giant said sales of high-end memory chips used in servers will continue to be strong.ahead of Wednesday's rate decision.

Nvidia's dominance in the high-end chips used to train and deploy AI systems may be weakening, judging by Advanced Micro Device's latest results and news that Apple had trained its AI models on Google-designed chips., and said sales in its data center segment, which includes AI chips, soared 115% on year to $2.8 billion during the quarter.

"We now expect data center GPU revenue to exceed $4.5 billion in 2024, up from the $4 billion we guided in April," CEO Lisa Su said on a call with analysts. AI models underpinning Apple Intelligence, its AI system, were pretrained on processors designed by Google

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 319. in BUSİNESS

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

CNBC Daily Open: U.S. stocks little changed ahead of Big Tech earnings, McDonald's misses estimatesThe S&P 500 and the Nasdaq Composite inched higher on Monday ahead of a busy week for Big Tech earnings.
Source: nbcsandiego - 🏆 524. / 51 Read more »

CNBC Daily Open: Nasdaq futures fall as Alphabet, Tesla earnings disappointWall Street slips ahead of megacap earnings. Alphabet’s Youtube ad revenue misses expectations. Tesla slides on weaker-than-expected earnings
Source: NBCLA - 🏆 319. / 59 Read more »